Bajaj Finance, HDFC Bank, HDFC, Britannia Industries, Mahindra Finance, RailTel stocks in focus

Bajaj Finance, HDFC Bank, HDFC, Britannia Industries, Mahindra Finance, RailTel stocks in focus

SGX Nifty traded in the red, indicating a lower start for the domestic Indian equity markets at 17,514, down 61 points. On Monday, markets extended their gaining streak, as Nifty rose 0.22% to 17,398, while Sensex added 114 points to settle at 59,106. “Investors were of the view that the easing price pressure would provide the central bank with leeway to pause the rate hike. However, the surprise production cut by OPEC+ has fuelled concerns about inflationary pressure, which may prompt central banks to remain hawkish. The downside pressure in the market was mitigated as auto stocks rallied in response to the latest sales data, indicating a surge in demand. Additionally, India’s manufacturing PMI exceeded expectations, demonstrating its swiftest growth rate in three months due to increased output and new orders,” said Vinod Nair, Head of Research, Geojit Financial Services.Stocks in focus on 5 April, WednesdayBajaj Finance

New loans booked during Q4 FY23 grew by 20% and the firm booked the highest ever new loans in FY23. Deposit book stood at approximately Rs 44,650 crore in FY23 as compared to Rs 30,800 crore as of FY22, an on-year growth of 45%.

HDFC

Individual loans sold in FY23 amounted to Rs 36,910 crore, up 29.7% on-year from Rs 28,455 crore in FY22.

Britannia Industries 

The board of directors decided to approve an interim dividend of Rs 72 per equity share for FY23, for which the record date is 13 April.

NBCC

The construction major has been awarded a work order from the Ministry of Home Affairs to construct a border of 88.58 kilometers in Mizoram along the Indo-Bangladesh border. The total project cost is expected to be Rs 448 crore.

RailTel

The firm secured two major work orders. First, from the Government of Bihar to implement and manage an electronic knowledge network in government engineering colleges and polytechnic institutes for a total consideration of Rs 76.1 crore. The second work order relates to the National Informatics Centre Services commissioning 4 mbps lease line connectivity across 19 locations for a cost of Rs 38.95 crore.

Indigo Paints

The paint company is set to acquire a 51% stake in Apple Chemie India, which will boost the company’s product portfolio in the space of construction and waterproofing products. The 44,924 equity shares are acquired valued at Rs 6,529 per equity share or Rs 29.3 crore.

Dhampur Sugar Mills

The board of directors approved an intermediate dividend of 60%, that is, Rs 6 per equity share with face value of Rs 10 each. The record date for the payment of the dividend is 18 April, 2023.

Mahindra Finance

In March 2023, the overall disbursement is estimated at Rs 5,600 crore delivering a 42% on-year growth. The Q4FY2023 disbursements at Rs 13,750 crore registered a growth of 50% on-year. FY2023 disbursement was approximately at Rs 49,500 crore registering an on-year growth of 80%.

Nazara Technologies

The company’s subsidiary, Nodwin Gaiming is set to acquire a 51% stake in Branded Pte Ltd. for up to $1.3 million. Following the acquisition, “IPs of Branded such as Gaming Matters, Sports Matters, Music Matters and others that have direct synergy with NODWIN” will be owned by the firm. 

H.G. Infra Engineering

Rail Vikas Nigam awarded H.G. Infra Engineering a letter of acceptance for construction of foundations, substructure and superstructure in connection with a railway line in Himachal Pradesh for a total consideration of Rs 466 crore.