On April 15, Indian stock markets are poised to open positively, buoyed by a strong performance from U.S. markets the previous night. Investors welcomed U.S. President Donald Trump’s announcement to suspend reciprocal tariffs on non-retaliation countries for 90 days, alongside exemptions for Chinese-made semiconductors and electronics. This decision could prevent price hikes on consumer goods like smartphones and laptops, providing a significant boost to U.S. tech giants such as Nvidia, Dell, and Apple, which heavily relies on Chinese manufacturing for its products.
Key Earnings Reports on April 15
Today, the spotlight will be on ten companies releasing their Q4FY24 earnings, with particular interest in ICICI Lombard General Insurance, ICICI Prudential Life Insurance, and the Indian Renewable Energy Development Agency (IREDA).
- ICICI Lombard recently reported a remarkable 68% increase in its consolidated net profit to ₹724 crore for the December quarter, with total income climbing from ₹5,194 crore to ₹6,161 crore year-on-year.
- ICICI Prudential Life Insurance also saw its consolidated net profit rise to ₹325 crore in Q3FY24, up from ₹227 crore during the same period last year. However, the company’s total income fell sharply from ₹26,430 crore to ₹4,536 crore.
- Meanwhile, IREDA posted a net profit of ₹425 crore in Q3, with operational revenue increasing to ₹1,700 crore from ₹1,253 crore year-over-year.
Other firms set to announce earnings today include Bombay Wire Ropes, Delta Industrial Resources, GM Breweries, Hathway Bhawani Cabletel & Datacom, MRP Agro, and Swastik Safe Deposit & Investments.
Companies to Watch
Several notable companies are also in the news today:
- Vedanta is under scrutiny following a ₹71 crore penalty for alleged fly ash disposal violations, with the company planning to contest the ruling.
- Ashoka Buildcon has announced the sale of its entire stake in 16 wholly-owned subsidiaries to Unique Hybrid Renewables Energy Private Limited.
- Info Edge has set May 7 as the record date for an upcoming 1:5 stock split, which may attract investor attention.
- Hindustan Aeronautics Limited (HAL) is in the limelight after clarifying that it has not finalized PwC as its consultancy firm for R&D benchmarking, countering earlier reports.
Additional companies making headlines today include Quess Corp, with the ex-date for the demerger of Digitide Solutions and Bluspring Enterprises, and Hexaware, which is also set for a dividend of ₹5.75 per share.
In contrast, Ashiana Housing has reported a concerning 33% drop in Q4 sales bookings, totaling ₹575 crore, which could affect investor sentiment. Furthermore, Walchand Nagar Industries has declared a lockout at its Satara plant in Maharashtra due to labor-related issues. Lastly, TCS is expected to attract attention as its wage growth hits a record low amid tightening IT budgets.
As the market opens, these developments will shape trading strategies and investor decisions for the day ahead.
