Stocks in Focus Today: Today i.e. on 23 April 2024, some stocks (stocks in news) are ready to show action. Due to positive trigger, these shares may remain in focus in the market today (Stocks to Watch). If you are looking for better stocks in intraday then you can keep an eye on them (Stock in Focus). Today’s list includes RIL, IFCI, Vodafone Idea, Zomato, Escorts Kubota, Tata Consumer Products, Tata Elxsi, Tejas Networks, Hatsun Agro Product, Patel Engineering, Hero MotoCorp, India Overseas Bank, Wipro, IndusInd Bank, KP Energy, ICICI Shares like Prudential, Mahindra & Mahindra Financial Services, MCX, Cyient DLM, NELCO are included.
RIL
During the quarter ending March 2024, the net profit of Reliance Industries declined by 1.8 percent to Rs 18,951 crore. But during the entire financial year 2023-24, the consolidated net profit of the company increased by 7.3 percent to Rs 79,020 crore. Integrated income from operations increased by 11.3 percent year-on-year to Rs 2,40,715 crore. During this period, the annual net profit of Jio Platforms (Reliance Jio) was more than Rs 20 thousand crores. The board of RIL has also announced to give dividend at the rate of Rs 10 per share to its shareholders.
IFCI
Public sector company IFCI said that it has received capital of Rs 500 crore by issuing equity shares to the government on preferential basis. IFCI said in the information that it has allotted 12,39,77,188 shares to the Government of India on preferential basis on April 18. After capitalization, the government’s stake in IFCI, the country’s oldest financial institution, has increased from 70.32 percent to 71.72 percent.
Vodafone Idea
Vodafone Idea Limited has raised Rs 18,000 crore under the country’s largest FPO. On Monday, the last day of FPO, it got almost seven times subscription. The support received from institutional investors has played an important role behind this. At the end of the offer, bids were made for a total of 8,011.29 crore shares which is 6.99 times the issue size. A total of Rs 88,124 crore bids were received under the FPO, but as per the FPO offer the company will retain only Rs 12,600 crore.
Zomato
Online food delivery platform Zomato has increased its charges by 25 percent in select markets from Rs 4 to Rs 5 per order. According to the company’s app, it has also stopped its inter-city food delivery service ‘Intercity Legends’. According to a Zomato spokesperson, this is a business step which we take from time to time based on different factors. According to sources associated with the company, the increase in fees will be applicable in major cities like Delhi-NCR, Bengaluru, Mumbai and Hyderabad.
Escorts Kubota
Escorts Kubota, a company manufacturing agricultural machines and construction equipment, will increase the prices of its tractors from May 1. In the information given to the stock market, the company said that the agriculture-machinery business division will increase the prices of tractors from May 1, 2024. The price increase will vary depending on the model/variant and geographical regions. However, information about how much the prices will be increased was not given.
Tata Consumer Products, Tata Elxsi
Today the quarterly results of Tata Consumer Products and Tata Elxsi will be released. Apart from these, quarterly results of ICICI Prudential Life Insurance Company, Mahindra & Mahindra Financial Services, Mahindra EPC Irrigation, Multi Commodity Exchange, 360 ONE WAM, Cyient DLM, Huhtamaki India, LKP Securities and NELCO will also come today.
