Top 10 stocks for today – 4th April 2024

4 Apr 2024 , 08:54 AM

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

Vodafone Idea: The telecom operator said that its board of directors would meet on April 6 to discuss issuing equity or convertible securities on a preferential basis to one or more promoter group firms for ₹2,075 Crore.

Vedanta: Vedanta Aluminium has increased its alumina refining capacity to 3.5 million metric tonnes per annum (MTPA). It has commissioned a 1.5 MTPA alumina refinery in Lanjigarh, Odisha, as part of its larger 3 MTPA facility. This would increase the entire nameplate capacity of the Lanjigarh refinery from 2 MTPA to 5 MTPA.

Avenue Supermarts: The D-Mart operator reported standalone sales of ₹12,393.46 Crore for the March quarter of FY24, up 19.9% from ₹10,337.12 Crore the previous year. The total number of shops reached 365 by the end of March 2024.

L&T Finance Holdings: The retail loan book at the end of Q4FY24 is anticipated to be about ₹80,010 Crore, up 31% from the previous year, while retail disbursements during the quarter, at ₹15,030 Crore, climbed 33% YoY. The portfolio’s retailization is expected to be about 94% by the end of Q4 FY24, up from 75% the previous fiscal year.

Sun Pharmaceutical Industries: Dheeraj Sinha is named Executive Vice President and Chief Information Officer of the business, effective April 3. Sinha replaced Anil Rao, who resigned as Chief Information Officer for personal reasons.

HCL Infosystems: The corporation has won a final arbitration verdict in its arbitration against the Government of the National Capital Territory of Delhi (GNCTD) for the recovery of dues incurred while establishing and operating a wireless protected communications network (TETRA). The firm has been given monetary relief of ₹4.5 Crore as per the arbitral ruling, together with interest of 8% per annum from the date of the verdict till payment. The GNCTD’s counterclaims against the corporation totaling ₹163 Crore have also been rejected.

Poonawalla Fincorp: The non-banking financial organisation announced the largest ever disbursements in Q4FY24, totaling ₹9,680 Crore, up 52% YoY and 11% QoQ. Disbursements in Q4FY23 was ₹6,371 Crore, compared to ₹8,731 Crore in Q3FY24. Assets under management increased by 54% YoY and 13% QoQ to ₹24,800 Crore as of March 2024. As of March 2024, the business has sufficient cash of ₹3,600 Crore.

Indiabulls Housing Finance: The home financing firm obtained $350 million through the issuance of senior secured social bonds maturing in 2027. These bonds are planned to be offered on the India International Exchange (IFSC).

KEC International: The infrastructure EPC firm has received fresh contracts totaling ₹816 Crore across its different sectors, including orders for the supply of towers in the United States, the establishment of steel factories in Northern India, and carbon derivative facilities in Eastern India.

Federal Bank: According to preliminary data, gross advances increased by 20% to ₹2,12,758 Crore in the March FY24 quarter, with retail credit book growing by 25% and wholesale credit book increasing by 15%. The retail/wholesale ratio is 56:44. Total deposits hit ₹2,52,583 Crore, up 18.4% from the same time last year. The CASA ratio fell 3.3% YoY and 1.2% QoQ to 29.4% in the March FY24 quarter.

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