The SGX Nifty signals a weak start for the Sensex, Nifty today. Cues from US markets too remained negative as Dow Jones, S&P 500 and Nasdaq ended in the red on Thursday. Markets in India however continued to gain higher as the dips continued to get bought into, whereas strong earnings from heavyweights lifted the sentiment.
Top stocks to watch today are Hero Motocorp, Tata Power, TVS Motor, United Breweries, besides others.
Hero Motocorp: Hero Motocorp on Thursday reported a strong set of Q4 numbers with its net profit coming in at Rs 858.9 crore against Rs 627 crore posted in the same period last year, a jump of 37%. The automaker’s revenue came in higher by 11.9% on a YoY basis at Rs 8,306 crore against Rs 7,421 crore reported in the same period last year.
TVS Motor: TVS Motor reported a strong set of Q4 earnings with its net profit coming in at Rs 410 crore, a jump of 49% against its Q4FY22 net profit of Rs 274.50. The automaker’s revenue from operations for the quarter ended March 2023 stood at Rs 6,604 crore against Rs 5,530 crore in Q4FY22.
Tata Power: Tata Power posted a strong growth in its net profit, which came in at Rs 938 crore, 48.5% higher than its Q4FY22 net profit of Rs 632 crore, this was largely due to higher other income. The company’s board has recommended a dividend of Rs 2 per equity share of Re 1 each to the shareholders for the year ended March 31, 2023.
Besides, other stocks like United Breweries, Blue Star and Aptus Value Housing will also be in focus on the back of their Q4 numbers.