scorecardresearchStocks To Watch: Delta Corp, Sula Vineyards, Titagarh Wagons, Paras Defence

Stocks To Watch: Delta Corp, Sula Vineyards, Titagarh Wagons, Paras Defence are stocks in news today

Updated: 12 Apr 2023, 08:25 AM IST
TL;DR.

India's NSE stock futures listed on the Singapore exchange were up 0.08% at 17,800.50 as of 8:12 a.m.

FPI sold  <span class='webrupee'>₹</span>1,90,000 crore worth of stocks, the biggest annual figure ever and more than double the previous high of  <span class='webrupee'>₹</span>80,917 crore recorded in 2018.

FPI sold 1,90,000 crore worth of stocks, the biggest annual figure ever and more than double the previous high of 80,917 crore recorded in 2018.

(Reuters) Indian shares are set for a muted start on Wednesday as corporate earnings for the March quarter begin to trickle in, amid caution ahead of key domestic and global macroeconomic data.

India's NSE stock futures listed on the Singapore exchange were up 0.08% at 17,800.50 as of 8:12 a.m. IST.

The Nifty 50 has risen over 4.5% in the past seven sessions, its longest winning streak in more than four months.

Top information technology firm Tata Consultancy Services Ltd will report its quarterly results later in the day. Infosys Ltd is due to report its fourth-quarter earnings on Thursday.

Analysts polled by Refinitiv expect TCS to report a 15.8% rise in net profit and 17.2% growth in revenue. But the outlook for fiscal 2024 will be keenly watched, given the fears of a slowdown in growth in the U.S. and Europe as well as lingering concerns about the banking sector.

J.P. Morgan recently said that TCS and Infosys have the highest exposure to regional banks in the United States that are in the grip of a financial turmoil.

Investors also await consumer inflation and industrial production data, due to be released after market hours. India's consumer inflation likely eased in March to 5.80%, dipping below the Reserve Bank of India's upper tolerance limit for the first time in 2023, according to a Reuters poll.

Wall Street equities were mostly higher ahead of consumer price index data for March and minutes of the Fed's latest policy meeting. Asian markets remained subdued.

Meanwhile, foreign investors extended their buying streak to the eighth session in a row on Tuesday, adding 3.43 billion rupees ($41.8 million) worth of equities. The rise in Nifty 50 over the last seven days has been supported by consistent buying by foreign institutional investors, according to analysts.

Stocks to watch

** Delta Corp: Co reports 6.4% YoY growth in consolidated net profit in March quarter to 511.7 million Rupees, recommends a final dividend of 1.25 rupees per share.

** Sula Vineyards: Co sees 15% YoY growth in sales of own brands in Q4 at 1.04 billion Rupees.

** Titagarh Wagons: Consortium of Bharat Heavy Electricals and co awarded an order for 80 Vande Bharat trainsets by Indian Railways.

** Paras Defence: Co's unit enters into a MoU with Spacekawa Explorations, for indigeneous development of space intelligence, surveillance, reconnaissance (ISR) payloads. ($1 = 82.0400 Indian rupees)
 

First Published: 12 Apr 2023, 08:22 AM IST