Top 10 stocks for today – 8th April 2024

8 Apr 2024 , 09:23 AM

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

Adani Wilmar: During the quarter ended March FY24, the Adani Group’s edible oils and food businesses grew by double digits, owing to improved retail penetration, particularly in under-indexed regions. During the quarter, the firm also generated its biggest volume to date and continues to increase market share.

Wipro: Thierry Delaporte, Chief Executive Officer and Managing Director of the IT services firm, resigned on April 6. The software business has named Srinivas Pallia as its CEO and MD. Thierry Delaporte resigned as MD and CEO to pursue interests elsewhere.

Vodafone Idea: The telecom operator’s board of directors has approved a funding round of up to ₹2,075 Crore from Oriana Investments, an Aditya Birla Group business. The business plans to offer up to 139.5 Crore equity shares to Oriana Investments at an issue price of ₹14.87 per share, subject to shareholder approval at a general meeting.

Tata Steel: The Tata Group firm said that India’s crude steel output jumped by 4.5% year on year to 5.38 million metric tonnes (MT), while deliveries increased by 5% YoY to 5.41 MT, the biggest quarterly deliveries ever. Furthermore, in FY24, Tata Steel India had the highest annual crude steel output of 20.8 MT, a 4% YoY increase due to debottlenecking across sites and greater steel production at Neelachal Ispat Nigam, while deliveries grew by 5.6% YoY to 19.9 MT.

Cochin Shipyard: The business has signed a Master Shipyard Repair Agreement (MSRA) with the US Navy. The MSRA is a non-financial agreement that takes effect on April 5. This will make it easier to repair US naval warships under the Military Sealift Command at the Cochin Shipyard.

Titan Company: The company’s sales increased by 17% year on year in the quarter ending March FY24, and it added 86 shops (net) during the quarter, bringing the group’s retail network to 3,035 locations. Jewellery business operations gained 18% year on year, driven by both buyers and same-store sales, resulting in solid double-digit growth, while the watches and wearables business increased 6% compared to the previous year.

BSE: The Bombay Stock Exchange (BSE) announced that it will adopt a limit price protection (LPP) mechanism in its equity derivatives market from April 16, 2024, to reinforce pre-trade risk control procedures.

JSW Energy: The business finalised its qualified institutional placement (QIP) offering, raising ₹5,000 Crore by allotting 10.3 Crore equity shares to 97 qualified institutional purchasers at an issue price of ₹485 per share. Goldman Sachs acquired equity shares for ₹1,356.1 Crore, while Nomura India purchased shares worth ₹500.15 Crore.

Punjab National Bank: The public sector lender’s overall business for the quarter ended March FY24 was ₹23.56 lakh Crore, up 8.8% year on year, with total deposits jumping 7% to ₹13.7 lakh Crore and advances rising 11.5% to ₹9.85 Lakh Crore. Domestic deposits climbed by 6.6% year on year, while CASA deposits expanded by 2.6% year on year. Domestic advances increased by 11.2% year on year.

Nestle India: The FMCG company’s board of directors has approved Suneeta Reddy’s nomination as an Additional Director and Independent Non-Executive Director. The board also authorised the business’s payment of general license fees (royalty) to its parent company, Société des Produits Nestlé S.A. (licensor).

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