Overnight Digest: Stocks to watch on May 4
India VIX ended the session 4.47 per cent higher at 20.28
On Monday, the benchmark Indies settled on flat note in the volatile session with selling witnessed in the capital goods, auto and IT indices.However, some buying was seen in the FMCG, metal, power and realty names. The rising dollar index, FII selling spree and rising commodity prices triggered the risk sentiment.
Sensex was down 84.88 points or 0.15 per cent at 56,975.99, and the Nifty was down 33.40 points or 0.20per cent at 17,069.10. The BSE midcap index fell 0.47 per cent and smallcap index shed 0.87 per cent.
Apollo Hospitals, Eicher Motors, Titan Company, Bajaj Auto and Wipro were among the top Nifty losers, while gainers were IndusInd Bank, Coal India, Tata Steel, Power Grid Corporation and HDFC.
Keep an eye on these stocks for Wednesday's trading session -
Coal India - The stock outperformed the benchmark indices during Monday's trading session as it gained up to 1.56 per cent. The company posted a 15.6 per cent growth in its supplies to the power sector in April 2022 compared to the same month last year. With the intense demand for coal continuing unabated, driven by an upward spiral in electricity generation, the company pushed up its supplies to power plants in the country to 49.7 million tonnes (MTs) in April 2022. This is 6.7 MTs more supply compared to April 2021 when the power sector’s dispatch was 43 MTs.
Tata Chemicals - The shares of Tata Chemicals jumped around 9 per cent on an intraday basis in an otherwise weak market. It gained on reporting a consolidated profit after tax (PAT) of Rs 470 crore in Q4FY22 against Rs 29 crore reported in the corresponding quarter of the last year. The company reported consolidated revenue growth of 32 per cent on a YoY basis to Rs 3,480.7 crore as compared to Rs 2,636 crore in Q4FY21, propped up by growth in the basic chemical segment.
Wipro - The shares of this IT major tumbled 5 per cent in today's weak market from its intraday high of Rs 519. The company reported a lower margin for Q4FY22, which dashed the hopes of the investors. The stock was seen trading close to its 52-week low price of Rs 477.80 per share hit in May 2021. The company's net profit improved 3.85 per cent on a YoY basis and 4 per cent sequentially to Rs 3,087 crore in Q4FY22. Its revenue increased 28 per cent on a YoY basis at Rs 20,860 crore as compared to the previous year's Rs 16,245 crore. On a YTD basis, the stock has fallen over 30 per cent whereas, in April 2022, it declined 17 per cent.
Ajanta Pharma - The company announced that the board of directors of the company will hold a meeting on May 10, 2022, to consider audited financial results (consolidated & standalone) of the company for the quarter and year ended March 31, 2022, along with the audited financial statements (consolidated & standalone) for the year ended March 31, 2022. The board will also consider the issue of bonus shares, subject to the approval of the shareholders of the company. The share of this pharma company has zoomed 4.71 per cent in a bearish market and gained investors' attention.