Top stocks to watch today, April 16
Tata Motors, JBM Auto
The government is expected to float a tender for the procurement of 10,000 electric buses. This move may impact electric mobility players like Tata Motors and JBM Auto.
ICICI Prudential Life Insurance
The company reported a mixed set of quarterly results. While Annualized Premium Equivalent (APE) came in below expectations, the Value of New Business (VNB) exceeded analyst estimates.
ICICI Lombard General Insurance
ICICI Lombard posted a healthy quarter, with net earned premium rising 20% year-on-year, indicating solid growth in its core business.
IREDA (Indian Renewable Energy Development Agency)
IREDA’s Q4 results showed strong growth, with Assets Under Management (AUM) up 28% YoY and Net Interest Income (NII) up 57% YoY.
Vedanta, Oil India
Cairn Oil & Gas, a Vedanta subsidiary, secured seven new oil and gas blocks in the latest OALP Round-IX. Oil India acquired nine blocks in the same round.
PB Fintech (Policybazaar)
Subsidiary PB Pay has received in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator.
IndusInd Bank
According to reprots, the impact of a recently reported discrepancy is expected to be in line with estimates. The bank may also see senior-level exits, including the CEO.
City Gas Companies (IGL, MGL, Gujarat Gas)
The government has reduced the allocation of APM (Administered Pricing Mechanism) gas by 18%, effective today. This could affect margins of city gas distribution companies.
Gensol Engineering
SEBI has appointed a forensic auditor to investigate the company and barred promoters from trading in securities until further notice.
Landmark Cars
The auto dealer posted a 9% quarter-on-quarter decline in both revenue and vehicle sales for Q4, pointing to demand moderation.
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