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 lower on Wednesday. Markets in India will take cues from the big event of RBI Monetary Policy today. However, a 25 bps rate hike by the central bank is largely priced in.
Top stocks to watch today are Nykaa, Tata Steel, Dmart, Hero MotoCorp, Equitas Small Finance Bank, besides others.
Nykaa (FSN E-commerce Ventures): Shares of Nykaa will be in focus after the company in its business update said that consumer pullback in discretionary spends has had some impact on their fashion business and revenue growth for this business in Q4FY23 is seen in the late teens.
Tata Steel: Tata Steel’s India production volumes grew by over 5% to 5.15 million tonnes in Q4FY23 and delivery volumes stood at 5.15 million tonnes, up 0.6% against the year ago period. Europe’s delivery Volume fell significantly by 11.3% to 2.13 million tonnes.
DMart (Avenue Supermarts): Shares of Avenue Supermarts will be in focus after the company in its Q4 business update announced that its Q4 revenue declined 8.5% sequentially on the back of seasonality. The company said that their standalone Q4 revenue stood at Rs 10,337 crore, up 20% YoY.
Hero MotoCorp: The two-wheeler major announced that the company has launched a voluntary retirement scheme (VRS) for its staff, expecting the move to improve efficiency within the company.
Equitas Small Finance Bank: The small finance bank’s gross advances in Q4 stood at Rs 28,061 crore, higher by 36% on a year-on-year basis, and 13% sequentially. The bank’s disbursements stood at Rs 5,917 crore, up 80% YoY, and 23% QoQ.
