Stocks To Track Today: Godrej Properties, Wipro, Titan, Zee Shares Are To Be In Focus | Check Global Cues And GIFT Nifty (image source: Canva)
Stocks To Watch: Godrej Properties, Wipro, Titan, Zee Shares Are To Be In Focus
Stock Market Today: GIFT Nifty on Monday at 8:50 am was up by 16 per cent or 36 points at 22,658. The index hinted at a positive territory start for the D-Street.
Global Cues: Asian markets began the week with muted trading on Monday, while the dollar strengthened as investors deliberated over when the U.S. Federal Reserve might initiate rate cuts following another impressive jobs report.
The MSCI’s comprehensive index of Asia-Pacific shares, excluding Japan, edged up by 0.26 per cent, whereas Tokyo’s Nikkei surged by 1 per cent. Chinese mainland stocks resumed trading after an extended holiday break since Thursday, resulting in a 0.5 per cent decline in the blue-chip index. On the other hand, Hong Kong’s Hang Seng Index saw a modest increase of 0.33 per cent.
Friday saw Wall Street’s major indices closing higher, propelled by robust job growth figures for March and consistent wage increases. This data suggests that the U.S. economy finished the first quarter on a firm footing.
Ahead of Monday’s market opening take a look at stocks to track for the day based on recent developments.
Stocks To Track Today:
Godrej Properties: The Mumbai-based real estate developer sold over 1,050 homes with over 2 million square feet of area in the project, making this its most successful ever launch by both value and volume of sales In FY 24, this is the second time in Gurugram, and the fourth time pan India, that GPL has recorded launch sales of over INR 2,000 crore Godrej Properties Ltd.
Wipro: On April 6, the Chief Executive Officer and Managing Director of the IT giant, Thierry Delaporte, tendered his resignation from the company. In his place, Srinivas Pallia has been appointed as the new CEO and MD. Delaporte cited personal passions as his reason for stepping down from his role.
Cochin Shipyard: Recently, the company inked the Master Shipyard Repair Agreement (MSRA) with the United States Navy, effective April 5. This non-financial agreement will enable the Cochin Shipyard to undertake the repair of US Naval vessels under the Military Sealift Command.
Titan Company: For the quarter ending March FY24, Titan Company reported a remarkable 17 percent year-on-year revenue growth. During the same period, the company added 86 net stores, expanding its retail network to 3,035 stores. The jewelry business experienced an impressive 18 percent year-on-year growth, while watches and wearables saw a 6 percent increase. Emerging businesses surged by 24 percent year-on-year, with CaratLane’s business soaring by 30 percent. However, the EyeCare segment witnessed a slight 1 percent year-on-year decline.
United Breweries: Recently, the company received a tax demand order, totaling Rs 263.72 crore for the fiscal year 2020, from the Maharashtra State Goods & Service Tax Department, inclusive of interest and penalty charges.
Zee Entertainment Enterprises: Punit Goenka, the Managing Director and CEO of Zee Entertainment Enterprises, has proposed the adoption of a lean and streamlined management structure to the board, aimed at achieving the company’s targeted goals. As part of this initiative, a workforce reduction of 15 percent across the company is underway. This proposed structure aims to establish a cost-effective operational model, fostering higher growth, performance, and profitability for the company.
