Stocks to Keep an Eye on: Bajaj Finance, Vedanta, Muthoot Finance, Nestle India, and Dabur

The Indian market indexes BSE Sensex and NSE Nifty 50 might have a tame beginning, according to GIFT Nifty. Here are some important stocks to keep an eye on while trading.

Focused Stocks: The GIFT Nifty index saw a decrease of 67 points, or 0.30%, at 22,580.00 on Friday, signaling a poor start for the local indexes NSE Nifty 50 and BSE Sensex. Earlier on Thursday, the BSE Sensex finished 350.81 points or 0.47% higher, at 74,227.63, while the NSE Nifty 50 gained 80 points or 0.36% to conclude at 22,514.65.

equities to monitor on April 5, 2024, Mutual Funds

It has been reported that Muthoot Finance engaged in forum shopping and misrepresented facts in a complaint filed with the Competition Commission of India. The complaint is against Muthoot Finance, accusing debenture trustees of abusing their market dominance by charging exorbitant fees to enable the issue of non-convertible debentures (NCDs). The complaint was filed with the antitrust authority in 2021.

Nestle India

The FMCG giant stated in a stock market statement on Thursday that the National Consumer Dispute Redressal Commission (NCDRC) had rejected the government’s 2015 appeal against the sale of Maggi noodles in favor of Nestle India.

Yoga

The mining giant Vedanta announced a 4% increase in its overall aluminum output for the fourth quarter of FY24, reaching 598,000 tonnes as opposed to 574,000 tonnes during the same period in the previous fiscal year. The business said that increased operational performance at its Lanjigarh refinery facility in Odisha led to an 18% rise in alumina output, reaching 448,000 tons.

Dabur

Dabur said on Thursday that due to the quarter’s slow demand patterns, the firm anticipates its consolidated revenue to rise by a mid-single digit percentage in Q4FY24. It also said that the revenue growth forecasts took into consideration the 2.3% inorganic revenue increase through December 2023 resulting from the purchase of Badshah Masala.

Financed by Bajaj

In Q4 FY24, Bajaj Finance disbursed 7.87 million in new loans, a 4% rise over the same quarter in FY23. However, because of limitations placed on certain loan products by the RBI, the amount of new loans booked decreased by 0.80 million.

High-Tech Cement

The completion of a 100 megawatt solar energy plant in Rajasthan under the Group Captive Scheme was announced by UltraTech Cement on Thursday. In an exchange filing, the business said that it currently had a capacity of 278 MW of WHRS and 612 MW of renewable electricity.

Hero MotoCorp

The Income Tax agency sent Hero MotoCorp demand papers on Thursday for around Rs 605 crore, including interest, over the course of six assessment years.

Distinguished Estates

In order to build a home complex, the business paid Rs 450 crore for 21 acres of land in Whitefield, Bengaluru, and anticipates earning Rs 4,500 crore in income over the next four years. The business said that a residential complex with around 1,800 flats is planned for the purchased area.

Industrial and Commercial Bank

IndusInd Bank said on Thursday that advances for the quarter ended in March increased by 18% to Rs 3,42,857 crore. In Q4, net advances were Rs 2,89,924 crore, according to a regulatory filing from IndusInd Bank.