The stock market on Wednesday, April 7, gave a positive ending after the Reserve Bank of India (RBI) kept the repo rate unchanged at 4 percent in its monetary policy announcement. The indices on Thursday, April 8, are expected to give a higher opening as the SGX Nifty was trading at 51.50 points or 0.35 percent up at 14,915.00 at 7:15 am. On April 7, the BSE Sensex surged 460.37 points or 0.94 percent to close at 49,661.76. Similarly, the NSE Nifty gained 135.55 points or 0.92 percent to settle the day at 14,819.05.
Top stock to look for the day:
Wipro: Suzanne Dann has been appointed by the company as Senior Vice President and sector head for capital markets and insurance, North America Region. Subha Tatavarti has also been appointed as the Chief Technology Officer by the company.
Bharti Airtel: Airtel IoT has been launched by the telecom major to harness the power of the Internet of Things (IoT) and be ready for the emerging era of connected things.
IRCTC: Lucknow-New Delhi Tejas Express has been temporarily suspended till April 30, 2021.
Muthoot Finance: The company is planning to raise Rs 1,700 crore via public issue of secured redeemable non-convertible debentures. The issue will open on April 8 and will conclude on April 29 with an option to close on an earlier or extended date as may be decided by the board of directors or NCD committee.
Ashok Leyland: The company is planning to expand its UK based subsidiary Switch Mobility into India to carry on Ashok Leyland’s EV strategy in India.
Hindustan Copper: Qualified institutional placement issue has been opened by the company for subscription on April 7 with a floor price of Rs 125.79 per equity share.
Prakash Industries: The company has achieved the highest-ever sales of around 2,72,142 tonnes of steel in Q4FY20-21 recording a growth of 8.85 percent on a quarterly basis and 31.16 percent on yearly basis. Total sales in FY21 stood at 9,54,760 tonnes which was a growth of 3.13 percent over FY20.
Godrej Consumer Products: The company expects to deliver sales growth around the thirties in Q4FY21, in India driven by strong volume growth and calibrated price increases.
UCO Bank: Proposal for the issue of equity shares on a preferential basis has been approved by the bank to the Government of India against a capital infusion of Rs 2,600 crore.