The SGX Nifty signals a strong start for the Sensex, Nifty today. Cues from US markets too remained positive as Dow Jones, S&P 500 and Nasdaq ended in the green on Thursday. Markets in India staged a sharp surge in the last hour of trade on Thursday too as the Buy on Dips strategy worked out yet again and foreign flows backed the sentiment.
Top stocks to watch today are Axis Bank, Wipro, LTIMindtree, Godrej Consumer, Raymond, besides others.
Axis Bank: Axis Bank reported a healthy set of Q4 earnings, in-line with the analyst and street estimates. The bank’s Net Interest Income grew 33.1% to Rs 11,742 crore. The bank reported a net loss for the quarter, however, it came in lower than analyst expectations, which remains a positive. Net Loss for Q4 stood at Rs 5,728 crore against estimated loss of Rs 5,739 crore.
Wipro: Wipro reported a mixed set of Q4 earnings with its revenue coming in weaker, however, margins of the company stood stable for the quarter. The company’s revenue in dollar terms came in at $2,823 million against $2,803 million in the previous quarter. The EBIT margin remained steady at 16.3%.
LTIMindtree: LTIMindtree to remain in focus today after the company reported a revenue growth lower than street estimates for the quarter ended March 2023. Company’s constant currency revenue growth stood at 0.7% against an estimate of 2%. The margin however remained slightly better at 16.35%.
Godrej Consumer, Raymond: Godrej Consumer Products on Thursday announced that it has acquired the FMCG business of Raymond Cons Care. The acquisition was made by way of slump sale for Rs 2,825 crore. The deal further includes Raymond Consumer selling trademarks of Park Avenue (FMCG), KS, KamaSutra and Premium to GCPL.