Page 87 - Buzzing Stocks
Nifty Metal bleeds 7% after govt hikes export duty on steel products
The government levied export duty on 11 iron and steel intermediates and key steel products.
 "Nifty Metal bleeds 7% after govt hikes export duty on steel products")
Stocks to Watch: Infy, L&T, PowerGrid, BHEL, NTPC, IDBI Bank, Steel makers
Stocks to Watch Today: Bharat Electronics, Data Patterns (India), SAIL and Zomato ahead of Q4 earnings on Monday.
 "Stocks to Watch: Infy, L&T, PowerGrid, BHEL, NTPC, IDBI Bank, Steel makers")
Dr Reddy's sees sharpest intra-day rally since Sept 2020; stock surges 8%
The stock gained 9 per cent in two days after the pharma company reported better-than-expected revenue growth in March quarter (Q4FY22).
 "Dr Reddy's sees sharpest intra-day rally since Sept 2020; stock surges 8%")
HAL hits new high on strong Q4 results; stock soars 18% in a week
In the past one week, the stock has gained 18 per cent after the company reported 90 per cent year on year (YoY) jump in consolidated net profit at Rs 3,105 crore for March quarter (Q4FY22).
 "HAL hits new high on strong Q4 results; stock soars 18% in a week")
Welspun Corp hits 52-week high on Rs 5,000 crore order win
With this, Welspun Crop order book as on date (excluding Saudi) stands at 704,000 MT valued at approximately Rs 10,500 crore.
 "Welspun Corp hits 52-week high on Rs 5,000 crore order win")
Equitas SFB dips 11% on resignation of MD & CEO P N Vasudevan
P N Vasudevan resigned as the managing director and chief executive officer of the Equitas Small Finance Bank for a career in health and education.
 "Equitas SFB dips 11% on resignation of MD & CEO P N Vasudevan")
CPCL hits over four-year high; zooms 164% in 7 weeks on strong earnings
In Q4FY22, CPCL reported four-fold jump in its consolidated net profit at Rs 1,002 crore as against Rs 242 crore in Q4FY21.
 "CPCL hits over four-year high; zooms 164% in 7 weeks on strong earnings")
Prudent Corporate falls 6% below its issue price despite decent listing
The stock hit an intra-day low of Rs 594.25, down 6 per cent from its issue price.
 "Prudent Corporate falls 6% below its issue price despite decent listing")
Mehul Kothari of Anand Rathi recommends buying ITC, IOC
According to the technical analyst, ITC has given a confirm breakout above Rs 272, hence the stock can potentially rise to Rs 290.
 "Mehul Kothari of Anand Rathi recommends buying ITC, IOC")
Stocks to Watch: HPCL, Ashok Leyland, Eros, Godrej Consumer, Gland Pharma
NTPC, Amara Raja Batteries, IDFC Ltd, Indigo Paints, Lakshmi Mills Co Ltd, Mindteck India Ltd, Nuvoco Vistas Corp Ltd, Rane Madras Ltd, SML Isuzu Ltd will be in focus ahead of their Q4 results today.
 "Stocks to Watch: HPCL, Ashok Leyland, Eros, Godrej Consumer, Gland Pharma")
F&O Strategy: Nandish Shah recommends this strategy for the May expiry
The derivative analyst from HDFC Securities recommends buying Kotak Bank 1,780 Put and simultaneously selling 1,760 Put for the May expiry.
 "F&O Strategy: Nandish Shah recommends this strategy for the May expiry")
ITC rallies on strong Q4 results, nears 3-year high in a weak market
Cigarette volumes, price growth in FMCG biz, and agri exports to drive revenue
 "ITC rallies on strong Q4 results, nears 3-year high in a weak market")
TCS, Wipro, HCL Tech, L&T Tech: JP Morgan downgrades Indian IT sector
The brokerage firm has downgraded the Indian information technology sector to 'underweight' as it believes the heydays of the sector are over
 "TCS, Wipro, HCL Tech, L&T Tech: JP Morgan downgrades Indian IT sector")
Nava Bharat Ventures zooms 33% in 4 days on robust Q4 results
The company reported robust growth in its operations, backed by solid traction in manganese alloy business in both export and domestic markets.
Nifty IT index slips 5%; Infosys, Tech Mahindra, LTTS, Wipro down over 5%
The deterioration of the US corporate sector profitability would lead to tighter IT spending
 "Nifty IT index slips 5%; Infosys, Tech Mahindra, LTTS, Wipro down over 5%")
Manappuram Finance plunges 12%, hits 2-year low on weak Q4 results
Asset quality worsened during the quarter as gross non-performing asset (NPA) and net NPA ratio increased by 160 basis points (bps) and 170 bps quarter on quarter (QoQ) to 3 per cent and 2.7 per cent.
 "Manappuram Finance plunges 12%, hits 2-year low on weak Q4 results")
HDFC Bank hits 52-week low; slips 26% since merger announcement with HDFC
Slower-than-expected credit growth amid weakening macros due to the Ukraine-Russia conflict; further softness in margins due to slower retail credit growth are key risks according to analysts
 "HDFC Bank hits 52-week low; slips 26% since merger announcement with HDFC")
Lupin slips 9%, hits 2-year low on disappointing March quarter results
Lupin's performance was skewed on revenues front amid US and India posting lower than expected sales while RoW and South Africa saw better than anticipated traction this quarter.
 "Lupin slips 9%, hits 2-year low on disappointing March quarter results")
Bharti Airtel trades weak despite strong Q4; down 5% from intra-day high
In the past one week, Airtel has underperformed the market by falling 4 per cent, as compared to 0.28 per cent rise in the Sensex.
 "Bharti Airtel trades weak despite strong Q4; down 5% from intra-day high")
Ruchi Soya hits upper circuit on buyout of Patanjali's food retail business
The board also approved to change company's name from Ruchi Soya Industries to Patanjali Foods.
 "Ruchi Soya hits upper circuit on buyout of Patanjali's food retail business")