Overnight digest: Keep a watch on these stocks for April 25

In the broader markets, BSE Midcap and Smallcap also mirrored the benchmark indices and ended in the red.

Fading the two days’ gaining momentum, the benchmark indices ended in red on Friday. The hawkish statement from the US Fed lowered the sentiment globally including in domestic markets. 

Sensex slipped 714.53 points or 1.23 per cent at 57,197.15 level while Nifty plunged 220.60 points or 1.27 per cent at 17,172 level. About 1,447 shares have advanced, 1,882 shares declined, and 115 shares are unchanged. 

All sectoral indices ended lower with capital goods, banks, healthcare, metals & realty declining between 1 and 2 per cent. In the broader markets, BSE Midcap and Smallcap also mirrored the benchmark indices and ended in the red. 

These stocks are likely to be on the watchlist for Monday: 

Hindustan Zinc - The company reported Quarterly Results for Q4FY22. Hindustan Zinc registered an 18 per cent jump in its Q4 net profit at Rs 2,928 crore as compared to Rs 2,481 crore while its revenue recorded a growth of 26.6 per cent at Rs 8,797 crore versus Rs 6,947 crore on a YoY basis. Earnings before interest, tax, depreciation & amortisation (EBITDA) rose 28.1 per cent at Rs 4,962 crore in comparison with Rs 3,875 crore while EBITDA margin stood at 56.4 per cent as compared to 55.7 per cent YoY. The stock traded flat throughout the trading session and dipped 1.57 per cent towards the end to close at Rs 344.3 per share. On the daily charts, the RSI has reversed the upward trend, and hence, the stock is likely to be in focus on Monday. 

Sterlite Technologies - The stock has soared 17.5 per cent on an intraday basis during Friday's trading session, owing to reports of stake sale by the company in three of its verticals. As per market talks, Vedanta Group is having discussions with strategic investors to sell up to a 25 per cent stake in each of the three business units of Sterlite Technologies. Also, on April 28, the company's board has scheduled a meeting to consider a proposal for raising funds. With today's upmove, the stock has crossed the 100-day moving average line on the daily chart and is on the verge of a bullish crossover for RSI as well as MACD indicators.  

Adani Power - In a weak market on Friday, the stock has beaten the benchmark indices by zooming 4.98 per cent and trading higher throughout the trading session. In the past one month, the stock price of the company has doubled. The company has entered the list of top 50 most-valued companies, in terms of market captialisation. It is also set to enter the elite club of companies with a market cap of Rs 1 trillion. 

Borosil Renewables - In an otherwise subdued market, the stock has attracted investors by giving a 13.5 per cent jump in a single day on Friday. The shares hit a record high of Rs 779 and the surge comes ahead of the board meeting for fundraising through a preferential issue on a private placement basis. In just three trading sessions, the stock has rallied 20 per cent. The board has scheduled a meeting on April 25, 2022 (Monday) to consider potential transactions involving the company, which may include the issuance of equity shares or any other securities of the company, through a preferential issue on a private placement basis, or any other methods or a combination thereof. Keep a close watch on this stock for Monday's trading session.