Cipla, Bajaj Auto, Dalmia Bharat, Tata Consumer Products, Welspun stocks in focus

Cipla, Bajaj Auto, Dalmia Bharat, Tata Consumer Products, Welspun stocks in focus

The SGX Nifty signaled that domestic benchmark indices NSE Nifty and BSE Sensex might open in the red, as Nifty futures traded 40 points lower at 17,747 on the Singaporean exchange. Benchmark indices NSE Nifty and BSE Sensex extended gains on Tuesday and ended the session in green. The NSE Nifty 50 rose 0.15% to 17,769 and BSE Sensex climbed 0.12% to 60,130.

“The domestic market succeeded in holding the gains, though multiple attempts were made by bears to reverse the trend considering the weak global market. Investors are highly nervous as they await the release of US GDP and PCE inflation data, which will guide the upcoming Fed action. The Fed is expected to raise their rates by another 25 bps in its announcement on 3rd May,” said Vinod Nair, Head of Research, Geojit Financial Services.

AU Small Finance Bank

AU Small Finance Bank reported a 23% year-on-year rise in net profit for the quarter ended March at Rs 425 crore, primarily led by a strong growth in net interest income (NII) and stable asset quality.

Tata Consumer Products 

Tata Consumer Products said its consolidated net profit for the March quarter increased 23.5% on-year to Rs 269 crore. This was in line with Street estimates, which had pegged March quarter net profit at Rs 268 crore.

Welspun

Welspun One Logistics Parks (WOLP) will develop two warehousing projects in Tamil Nadu with an investment of Rs 700 crore in joint venture with the GRT Group.

Dalmia Bharat

Dalmia Bharat reported a 121% on-year rise in net profit, clocking in at Rs 589 crore for Q4FY23 versus a net profit of Rs 266 crore in the quarter ended March 2022.

Cipla

Subsidiary Madison Pharmaceuticals will be dissolved from 28 April. Madison is a dormant entity, its dissolution will not affect the performance or revenue of the company, Cipla said.