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Stocks in News: HDFC Bank, Infosys, Tata Power will be in action in these stocks, keep an eye for intraday

Some stocks are ready to show action in the market due to positive trigger. If you are looking for better stocks in intraday, then you can keep an eye on them.

Stocks in Focus Today: There is volatility in the stock market. Weakness was seen in the market last week. Even today, the global sentiments for the market are mixed. Volatility is expected to continue further due to corporate earnings, geopolitical tensions, inflation and rate hike cycles. Crude prices are high in the international market, due to which the prices of other energy are also sky high. In such a situation, experts are advising investors to trade cautiously. However, in the meantime, some stocks are ready to show action in the market due to positive triggers. If you are looking for better stocks in intraday, then you can keep an eye on them. Today’s list includes names like Mindtree, HDFC Bank, UltraTech Cement, Infosys, Alkem Laboratories, Tata Power, Mahindra & Mahindra, Jubilant Ingrevia.

HDFC Bank

HDFC Bank’s profit in Q4 increased by 22.8 percent to Rs 10,055.2 crore. Provisions declined by 29.4 per cent during the same period. Net interest income rose 10.2 per cent to Rs 18,873 crore. The bank’s credit growth on a year-on-year basis has been 20.8 percent and deposit growth of 16.8 percent. Asset quality improved in the March quarter with Gross NPAs down 9 bps to 1.17 per cent and Net NPAs down 5 bps to 0.32 per cent on a quarterly basis.

UltraTech Cement

UltraTech Cement Middle East Investments (UCMEIL), the UAE subsidiary of UltraTech Cement, has bought a 29.39 per cent stake in RAK Cement Company for White Cement and Construction Materials PSC listed on the Abu Dhabi and Kuwait Stock Exchanges. The acquisition cost will be $101.1 million.

Infosys

The earnings report of Infosys has been weaker than expected. The company’s profit has decreased by 2.1 percent in the March quarter on a quarterly basis and there has been a growth of only 1.3 percent in revenue. Operating margins have also been weaker than expected. Dollar revenue growth stood at $428 million. However, the company management has kept the revenue growth guidance at 13-15 per cent for the current financial year, which is positive. While the operating profit margin estimates are in the range of 21-23 per cent.

Alkem Laboratories

The Taloja unit of pharma company Alkem Laboratories has been approved by the US health regulator. Unit has not received “Form 483” after inspection. The US FDA had inspected the company’s bioequivalence center in Taloja, Maharashtra from April 11-14.

Tata Power

BlackRock Real Assets in association with Mubadala will invest Rs 4,000 crore ($525 million) in Tata Power’s subsidiary Tata Power Renewables for a 10.53 per cent stake. The base equity valuation of the subsidiary after investment will be Rs 34,000 crore.

Mahindra & Mahindra

Mahindra & Mahindra has increased the prices of its vehicles by 2.5 percent. The company said that the price revision has been done due to the continuous increase in the prices of key commodities such as steel, aluminum and palladium.

Jubilant Ingrevia

Jubilant Ingrevia has received a CDMO contract of Rs 270 crore from an international customer in the specialty chemicals business. The contract is for 3 years. The company will supply two major GMP intermediates. The commercial supply of both these products will start from FY23.

Results of these companies including Mindtree

Today i.e. on April 18, some companies are going to release their quarterly results. These include Mindtree, Star Housing Finance, Earum Pharmaceuticals, DRC Systems India, Mishtann Foods, Ramsarup Industries, Sheetal Cool Products, SE Power, SM Gold and Swiss Military Consumer Goods.

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