The SGX-Nifty indicates a poor start for today’s Sensex and Nifty. On Wednesday, the Dow Jones, S&P 500, and Nasdaq all closed down, indicating that American market sentiment remained negative. India’s markets will take their cues from today’s RBI Monetary Policy announcement. Yet, a 25 basis point rate rise by the central bank is factored in.
Among the most important stocks to monitor today are Nykaa, Tata Steel, Dmart, Hero MotoCorp, and Equitas Small Finance Bank.
Nykaa (FSN E-commerce Ventures): Nykaa shares will be in the spotlight after the company’s announcement in its business update that the consumer slowdown in discretionary spending has had some effect on its fashion business and that revenue growth for this segment in Q4FY23 is anticipated to be in the high teens.
Tata Steel: In Q4 FY23, Tata Steel’s India production volumes increased by over 5% to 5.15 million metric tonnes, while delivery volumes increased by 0.6% to 5.15 million metric tonnes. Europe’s shipment volume decreased by 11.3% to 2.13 million metric tonnes.
DMart (Avenue Supermarts): Avenue Supermarts shares will be in the spotlight as the firm stated in its Q4 business update that its sequential Q4 sales dropped 8.5% due to seasonality. The firm reported Q4 revenue of Rs 10,337 crore, up 20% year-over-year.
Hero MotoCorp: The two-wheeler giant said that it has created a voluntary retirement programme (VRS) for its employees, anticipating that the move would increase corporate efficiency.
Equitas Small Finance Bank: The small finance bank’s total advances in the fourth quarter were Rs 28,061 crore, up 36% annually and 13% sequentially. The bank’s disbursements were Rs 5,917 crore, rising 80% year over year and 23% quarter over quarter.