Today’s SGX Nifty indicates a flat start with a bullish tilt for the Sensex and Nifty. US market cues were mixed, with the Dow Jones ending with a 98-point rise while the S&P 500 and Nasdaq closed in the red overnight. Markets in India rose for the eighth consecutive day, boosted by sustained foreign inflows and the RBI’s decision to stop rate rises.
Today’s top stocks to watch are BHEL, Titagarh Waggons, Delta Corp., Sula, Paras Defence, and LIC, among others.
BHEL/Titagarh Wagons: Bharat Heavy Electricals and Titagarh Waggons partnership secured a major order for Vande Bharat trains from Indian Railways on Tuesday. The contract calls for the production and delivery of 80 Vande Bharat trains at a cost of Rs 120 crore per train.
Delta Corp. shares will be in focus today as the business announced a 4% YoY increase in sales at Rs 227.3 crore over Rs 218.3 crore in the same period last year. However, the company’s EBITDA margin fell year on year to 26.5% from 31.6% in the same period last year.
Sula Vineyards’ stock will be under scrutiny today after the firm announced a 15% year-on-year increase in its own product sales to Rs 104.3 crore, up from Rs 90.7 crore at the same time last year. The company’s wine tourism business increased by 18% year on year to Rs 12.4 crore.
Paras Defence & Space Technologies: The company’s subsidiary, Paras Anti-Drone Technologies, has signed an agreement with Spacekawa Explorations to develop and deploy space intelligence, surveillance, and reconnaissance (ISR) payloads in-house.
LIC: Ratnakar Patnaik has been named as the country’s biggest domestic institutional investor (DII) with effect from April 10. P. R. Mishra, the current CIO of LIC, is being moved to a new position.
