The following are some stocks to keep an eye on: Wipro, RVNL, IOCL, JNK India, Exide, Tata Chemicals, Poonawalla Fincorp, KEC International, Jana Small Finance Bank

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

 

Focused Stocks: The GIFT Nifty opened at 22,770.50, up barely 5.50 points or 0.02%, suggesting a sluggish start for the BSE Sensex and NSE Nifty 50 domestic indexes on Tuesday. Earlier on Monday, the BSE surged 941.13 points or 1.28% to 74,671.28, while the NSE Nifty 50 finished up by 223.45 points or 1% to conclude at 22,643.40.

“A decline in the US 10-year rate and positive US tech quarter profits helped the Indian benchmark indices to recover. “The Bank Nifty performed better domestically, primarily due to its impressive performance in the fourth quarter,” said Vinod Nair, Head of Research at Geojit Financial Services.

Nair went on to say that consistent profits combined with a reduction in Middle East tensions should keep the market optimistic. The US non-farm payroll statistics and FED policy will determine the overall market dynamics going ahead.

For the quarter that concluded on March 31, the business declared a combined net loss of Rs 850 crore, which stands in stark contrast to the last reported profit of Rs 709 crore. Due to lower pricing and demand for soda ash, as well as a one-time write-down in its UK business, this loss constitutes the company’s first quarterly deficit in nine years.

Bank of Jana Small Finance
The Bengaluru-based lender reported a significant rise in net profit of 297.5% year over year for the fourth quarter that ended on March 31, 2024, coming in at Rs 321.7 crore. This stands in stark contrast to the net profit of Rs 81 crore that Jana Small Finance Bank disclosed in a regulatory filing for the same period.

Spandana Sphoorty
The microfinance lender reported a 5.2% YoY increase in net profit for the fourth quarter that ended on March 31, 2024, coming in at Rs 122.2 crore. This contrasts with Spandana Sphoorty Financial’s declared net profit of Rs 116.2 crore for the same period.

Poonawalla Finance Company
The non-bank lender reported a noteworthy 83.6% year-over-year increase in net profit for the fourth quarter that ended on March 31, 2024, totaling Rs 331.7 crore. This is in contrast to Poonawalla Fincorp’s declared net profit of Rs 180.7 crore for the same period, which was revealed in a regulatory filing.

KEC Worldwide
The engineering company said that it has added new orders totaling Rs 1,036 crore to its portfolio of business verticals. In particular, orders for projects in the Americas and Middle East were secured by the Transmission & Distribution (T&D) business.

NMDC
Fines have increased by Rs 200 per tonne to Rs 5,260 per tonne, while lump ore has been priced at Rs 6,200 per tonne.

Wipro
The IT giant has launched its own Lab45 Think Tank to help company executives and Wipro clients navigate new technologies in the future. The Think Tank at Lab45 will examine how various technologies—such as IoT, generative AI, space technology, and quantum and spatial computing—affect individuals, businesses, and the environment.

Train Vikas Nigam
A letter of approval for the reconstruction of Thiruvananthapuram station, valued at Rs 439 crore, has been given to the joint venture between KRDCL and RVNL.

Fertilizers and Chemicals by Rashtriya
The company’s revised investment of Rs 2,170 crore in Talcher Fertilizers has been approved by the Ministry of Chemicals. A joint venture involving Rashtriya Chemicals and Fertilizers, Fertilizer Corp., GAIL, and Coal India is called Talcher Fertilizers.

JNK Worldwide
On Tuesday, the company’s shares would be listed at an issue price of Rs 415 a share on the stock exchanges. On the third and last day of the offering, the Rs 649.47 crore IPO was oversubscribed 28.13 times.

Crucial Profits To Monitor Today
The companies listed are Indian Oil Corp, REC, Havells India, Indus Towers, Cholamandalam Investment and Finance Co, Procter & Gamble Hygiene & Health Care, Sona BLW and Precision Forgings, Star Health and Allied Insurance, Exide Industries, Vedant Fashion, Five-Star Business Finance, Castrol India, IndiaMART InterMESH, Nuvoco Vistas, Newgen Software Technologies, Gravita India, Symphony, Neogen Chemicals, Adani Total Gas, Central Bank of India, and IFCI.