The Indian stock market is gearing up for a vibrant start this Friday, buoyed by favorable signals from global markets. Key indices, namely the Sensex and Nifty 50, are poised for a promising opening, as indicated by the Gift Nifty, suggesting a gap-up for domestic equities. Investors should keep an eye on several pivotal stocks that are making headlines today.
Key Stocks to Monitor
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Axis Bank: The private banking giant reported a slight dip of 0.2% in year-over-year net profit, totaling ₹7,117.5 crore for Q4 FY25. However, its net interest income (NII) saw a healthy increase of 5.5%, reaching ₹13,810.5 crore. On a positive note, the gross NPA has improved to 1.28%, with net NPA decreasing to 0.33%.
- Tech Mahindra: This prominent IT firm experienced an 18.7% quarter-over-quarter rise in net profit, amounting to ₹1,166.7 crore in Q4 FY25. Revenue also saw a modest increase of 0.7%, totaling ₹13,384 crore. Additionally, EBIT rose by 4.1%, with margins improving to 10.5%.
Corporate Updates and Financial Highlights
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L&T Technology Services: The company’s consolidated net profit for Q4 fell by 3.5% to ₹311.1 crore, despite a revenue surge of 12.4% to ₹2,982.4 crore. Revenue in dollar terms increased 10.7% to $345.1 million. The board has proposed a final dividend of ₹38 per share for FY25.
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Cyient: Notably, Cyient’s net profit climbed by 39.3% quarter-over-quarter, reaching ₹170.4 crore. However, revenue dipped slightly by 0.9% to ₹1,909.2 crore. The board has also recommended a ₹14 per share final dividend.
- SBI Cards and Payment Services: The financial services provider reported a 19.4% decline in net profit year-over-year, totaling ₹534.2 crore, while revenue grew by 7.5% to ₹4,674 crore. The gross NPA ratio stood at 3.08%, with net NPA at 1.46%.
Innovations and Strategic Moves
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Tata Consultancy Services (TCS): TCS, India’s largest IT services firm, has unveiled its Sovereign Secure Cloud, set to operate within the country, further expanding its technological footprint.
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Wipro: The IT major has launched a GitHub Center of Excellence in Bengaluru, aimed at fostering AI innovation and enhancing technological capabilities.
- Patel Engineering: This company has emerged as the lowest bidder for an urban infrastructure project valued at ₹1,318.89 crore from CIDCO. Additionally, it secured a ₹718 crore contract for a 240 MW Hydro Electric Project in Arunachal Pradesh.
Collaborative Initiatives
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Container Corporation of India: In a strategic move, CONCOR has signed a Memorandum of Understanding with GAIL India to develop LNG infrastructure across various terminals nationwide.
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RITES: The engineering and consultancy firm secured a ₹28 crore work order from Mahanadi Coalfields for project management consultancy services.
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PowerGrid Corporation of India: The subsidiary, POWERGRID Energy Services, has successfully commenced operations of an 85 MW solar PV power plant in Ujjain, Madhya Pradesh, as of April 24.
- Gujarat Industries Power Company: The firm has initiated the first phase of a 25 MW group captive solar project, part of a larger plan for 75 MW at Vastan.
As the market opens, investors are encouraged to stay informed about these developments, which could significantly influence trading strategies and market sentiment today.
