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Stocks To Watch: LIC, Adani Enterprises, Nykaa, Vodafone Idea, Infosys, Hindalco

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Stocks in focus: The SGX Nifty lost 0.26% in trade on Thursday morning, signaling that domestic indices NSE Nifty 50 and BSE Sensex would open on a negative basis. Nifty futures were 46 points lower on the Singaporean exchange at 18,237. Benchmark indices NSE Nifty 50 and BSE Sensex ended Wednesday’s session in the red. The NSE Nifty 50 tumbled 0.34% to 18,285.4 and BSE Sensex slipped 208.01 points to 61,773.78. 

“The domestic market experienced a short-lived rally that was overshadowed by subdued global market sentiment. US Treasury yields rose due to concerns over stalled US debt ceiling talks and hawkish comments from US Fed officials, which reduced the chances of a rate pause. European markets also declined, triggered by higher-than-expected UK inflation figures that bet on more rate hikes by the BoE,” said Vinod Nair, Head of Research, Geojit Financial Services.

Stocks to Watch on 25 May, 2023

LIC

LIC posted a more than five-fold jump in consolidated net profit to Rs 13,191 crore for the fourth quarter ended March 2023. However, the insurance major’s total income declined to Rs 2,01,022 crore from Rs 2,15,487 crore on-year.

Nykaa

Nykaa reported its net profit for the quarter ended March at Rs 2.4 crore, posting a 71.83% on-year drop from Rs 9 crore in the corresponding quarter last financial year. FSN E-Commerce Ventures’ consolidated revenue to Rs 1,301 crore, gaining by 33.75% in the same time period. 

Adani Enterprises

Flagship firm Adani Enterprises will be put under additional short-term surveillance measure by the exchanges, as the stock price demonstrated heightened volatility. 

Vodafone Idea

The telecom provider will post its fourth quarter earnings result today. Amid declining subscribers, experts predicted that Vodafone Idea post a net loss of around Rs 7,500 crore.

Infosys

Infosys announced its collaboration with Adobe to transform the digital workforce through Infosys’ online learning platform, Infosys Springboard. Both organizations will aim to create over 10,000 new Adobe certified experts globally by 2025.

Hindalco

Hindalco Industries posted fiscal fourth quarter earnings with profit at Rs 2,411 crore, down 37.4%as against Rs 3,851 crore in the same quarter last year. However, the profit grew 77% sequentially.



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