The SGX Nifty signals a weak start for the Sensex, Nifty today. Cues from US markets also remained negative as Dow Jones, S&P 500 and Nasdaq ended with gains of 0.5% each on Tuesday. Markets in India were shut on Tuesday on the account of Mahavir Jayanti. According to analysts, immediate support for the Nifty today is at 17,336 and 17,424 will be the immediate resistance for the Nifty today.
Top stocks to watch today are HDFC Bank, M&M Finance, Marico, Cyient, IndusInd Bank, Bandhan Bank, besides others.
HDFC Bank: Shares of HDFC Bank will be in focus today as the bank in its Q4 business updated announced that its deposits grew 20.8% YoY at Rs 18,835 bn, whereas it was up 8.6% QoQ. The bank’s advances stood at Rs 16,005 bn, the best in four quarters.
M&M Finance: Shares of M&M Finance will be in focus too after the company reported strong momentum in disbursals and collection efficiency in Q4. The NBFC’s business assets stood at Rs 2,13,384 crore, up 17.4% YoY and 5.9% QoQ.
Marico: Marico stock today will be in focus as the company said that their India business witnessed some improvement in volume growth on yearly basis in Q4. The FMCG major’s consolidated revenue grew in low single digits on a yearly basis.
Cyient: Shares of Cyient will be in focus after the company made some changes to its top level management. The board of the company has appointed Krishna Bodanapu as the Executive Vice Chairman & MD of the company, and appointed Karthikeyan Natarajan as ED & CEO of the company.
Other banks like IndusInd Bank, Suryoday SFB, South Indian Bank, Bandhan Bank, AU SFB will be in focus too on the back of their Q4 business updates.
