Overnight Digest: Stocks likely to be in focus on April 28

Bajaj Finance, Bajaj Finserv, Tata Consumer Products, Adani Ports and ICICI Bank were among the top Nifty losers, while gainers were Hero MotoCorp, Tata Steel, Asian Paints, Bajaj Auto and TCS.

Heavy sell-off in the global markets, rising energy crisis, and subdued Chinese economic outlook led to a dip in the domestic markets. The benchmark indices ended the trading session lower. 

Sensex ended 537.22 points or 0.94 per cent down at 56,819.39 level whereas Nifty slipped 162.40 points or 0.94 per cent at 17,038.40 level. In line with the benchmark indices, BSE Midcap and Small-cap indices also fell 0.5 per cent each.  

Nifty Bank underperformed today's market, contracting 1.03 per cent. AU Small Finance Bank, ICICI Bank, Bandhan Bank, State Bank of India, and IDFC First Bank were the top stocks dragging the index. 

Along with banks, consumer durables, oil & gas, power, and telecom were also down by more than a per cent each.  

Keep an eye on these stocks for Thursday's trading session - 

Schaeffler India - The share made a new high of Rs 2,226, advancing 6 per cent on an intraday basis in an otherwise negative market. The company posted robust operational performance in the Quarterly Results for Q1CY22. In Q1CY22, the company’s net profit improved 48 per cent on a YoY basis to reach Rs 207 crore from Rs 140 crore in Q1CY21. As compared to the previous year's corresponding quarter, revenue gained 19 per cent, recording Rs 1,568 crore. Earnings before interest, taxes, depreciation & amortisation (EBITDA) margin improved to 19.8 per cent from 16.6 per cent on consistently improving business mix and sustained countermeasure. 

Ruchi Soya - The share is seeing continuing its upward journey, gaining 7 per cent on an intraday basis on Wednesday due to heavy volumes. The stock traded higher for the sixth straight day, having recorded gains of 19 per cent during the six trading sessions. Recording the recent gains, the share has jumped 72 per cent from its follow-on public offering (FPO) price of Rs 650. On the daily chart, since the last two trading sessions, the stock is trading above its key moving averages and is indicating a bullish trend as per the MACD and RSI indicators. The stock closed 6.35 per cent higher on Wednesday. 

Bajaj Finance - The company's share plunged up to 7.3 per cent despite reporting a strong set of numbers for Q4FY22. The company reported a 79.7 per cent YoY rise in consolidated net profit to Rs 2,420 crore due to a higher net interest income and lower provisions. The company's net interest income (NII) zoomed 30 per cent to Rs 6,068 crore in the quarter ending March 31, 2022. Revenue comprised another large component in the form of fees and other income of Rs 1,164 crore, increasing 51 per cent from the same period in the previous year. On a consolidated basis, the total AUM of the company grew 29 per cent to Rs 1,97,000 crore as of March 31, 2022. 

TVS Motor Company - The company announced a strategic partnership with Rapido, India’s leading on-demand delivery and mobility platform today by signing a memorandum of understanding (MoU). 

As part of the MoU, TVS Motor and Rapido will look to collaborate by leveraging the synergies of their respective businesses in the fast-moving mobility market in India. TVS Motor and Rapido are bringing together their strength in mobility and seamless technology platform, respectively, to deliver a winning proposition to this demanding user base. In this comprehensive partnership, both two-wheelers, as well as three-wheeler vehicles, will be covered across ICE and EV segments.  

KPIT Technologies - The stock was seen on fire during Wednesday's trading session as it erased the morning losses to end the trading session almost 12 per cent higher. The company declared stellar quarterly results for Q4FY22. On a QoQ basis, the company's consolidated net profit rose 12.66 per cent to Rs 78.87 crore and the revenues improved 4.72 per cent to Rs 651.76 crore. On a YoY basis, the company's net profit zoomed 50.37 per cent and revenues grew by 20.62 per cent. EBITDA rose 5.58 per cent to Rs 121.39 crore during the period under review. EBITDA margin stood at 18.6 per cent in Q4FY22 as against 18.5 per cent in Q3FY22 and 17.2 per cent in Q4FY21.