Top 10 stocks for today – 1st April 2024

1 Apr 2024 , 08:54 AM

Here are some of the stocks that may see significant price movement today.

1. MOIL: Prices for Ferro grades of Manganese ore containing Mn-44% and above rose by 6% in March. Meanwhile, other ferro grades with manganese content below Mn-44% saw a 3% increase during the same period. Additionally, both SMGR fines and chemical grades experienced a 3% price hike based on the existing prices.
2. Newgen Software: The company finalized a Trade Finance Project agreement with a customer for a purchase order totaling ₹49.84 Crore, to be implemented over three years. Furthermore, the company secured orders for a Trade Finance Solution from an international client valued at $1.1 million.
3. HDFC Bank: The private sector lender that appointed Sumant Rampal as Group Head, Mortgage Business, with effect from March 28, replacing Arvind Kapil, is HDFC Bank. Sumant Rampal previously held the position of Group Head-Business Banking Working Capital, Rural Banking Group, and Sustainability Livelihood Initiative at HDFC Bank.
4. RVNL: The state-owned railway company has secured the lowest bidder position for two significant projects. Firstly, RVNL has emerged as the lowest bidder for the upgrade of the electric traction system for the Kharagpur section of the Kharagpur division of South Eastern Railway to meet the 3,000 MT loading target at a cost of ₹148.27 Crore. Additionally, RVNL has also clinched the lowest bidder status for a project valued at ₹95.95 Crore from NFR-Const HQ-Electrical/NF RLY Construction.
5. Infosys: The IT services company has received orders from the Income Tax Department for various assessment years during the March quarter. The company anticipates a refund of ₹6,329 Crore (including interest) based on the orders for assessment years 07-08 to 15-16, 17-18, and 18-19. Additionally, the company has received assessment orders for assessment year 22-23 with a tax demand of ₹2,763 Crore (including interest) and for assessment year 11-12 with a tax demand of ₹4 Crore (including interest).
6. HAL: The state-owned defense company that has signed a contract worth ₹1,173.42 Crore with Cochin Shipyard, Kochi, for the supply of six sets of LM2500 gas turbines (GT) and GT auxiliaries (GTAE), spares, and tools for the Indian Navy Next Generation Missile Vessel (NGMV) Project is Hindustan Aeronautics Limited (HAL).
7. Torrent Power: Torrent Power Limited, has been awarded a letter of award for establishing a 150 MW (RE Power) grid-connected wind and solar hybrid project under the greenshoe option. This project is set to be operational within 24 months from the signing of the Power Purchase Agreement (PPA), with a contract duration of 25 years starting from the project’s commissioning.
8. Asian Paints: The company has obtained board approval to subscribe to 4.79 Crore equity shares of its subsidiary, Asian Paints International, Singapore, for SGD 32.1 million (equivalent to ₹200 Crore). These shares will be issued and allocated at a price of SGD 0.67 per share.
9. Zomato: The company has received a demand order for GST amounting to ₹11.27 Crore, with additional interest and penalties totaling ₹23.26 Crore from the Assistant Commissioner of Commercial Taxes (Audit), Karnataka. Zomato is confident in its ability to defend the matter before the appellate authority and anticipates no financial impact from this issue.
10. NTPC: The state-run power generation company, NTPC, has permanently closed down its Barauni Thermal Power Station Stage-I, which consisted of two units (Unit 6 and 7) of 110 MW each, effective from March 31, 2024.