The SGX Nifty signals a positive start for the Sensex, Nifty today. Cues from US markets remained mixed as Dow Jones, S&P 500 ended with gains, while Nasdaq ended flat with negative bias on Monday. Markets in India staged a sharp recovery in the last hour of trade on Monday and ended with strong gains.
Top stocks to watch today are IndusInd Bank, Ipca Labs, Century Textiles, Poonawalla Housing Finance, besides others.
IndusInd Bank: Shares of IndusInd Bank will be in focus today after the company reported a operationally weak set of numbers for the quarter ended March 2023. The bank’s board has however sought shareholders’ approval for reappointment of Sumant Kathpalia as the bank’s MD & CEO.
Ipca Labs: Ipca Labs on Monday announced that they are set to acquire a 33.3% stake in Unichem Labs at Rs 440 per share, taking the total deal value to Rs 1,034 crore. The board has approved open offer of up to 26% in Unichem Labs at Rs 440 per share.
Century Textiles: Century Textiles posted a muted set of Q4 earnings on Monday. The company’s revenue dipped 0.2% YoY to Rs 1,208 crore against Rs 1,210 crore reported in Q4FY22. The company’s EBITDA saw a 3.4% dip YoY to Rs 121 crore against Rs 125 crore.
Poonawalla Housing Finance: Shares of Poonawalla Housing Finance will be in focus today after the company reported a mixed set of Q4 numbers. The company’s net profit fell 37.5% on a YoY basis to Rs 18.2 crore against Rs 29.1 crore. The Net Interest Income (NII) on the other hand saw a 36.2% YoY growth, coming in at Rs 109 crore against Rs 80.1 crore.
