Stocks To Watch: JSW Steel, Kesoram Industries, TCS, UltraTech Cement, Wipro

Stocks in Asia declined amid economic threats from high inflation, tightening monetary policy and China’s Covid-19 lockdowns.

Equities fell in Japan, Australia and South Korea, while U.S. futures edged lower. The Nasdaq 100 has shed over $1 trillion in value in the past five sessions. The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, fell over 0.8% to 17,597.5 points as of 7:00 a.m.

Oil hovered around $99.5 per barrel while Bitcoin fell below $40,000.

Here are the stocks to watch in today's trade:

• JSW Steel: The company’s wholly owned subsidiary JSW Utkal Steel received the environmental clearance to set up a greenfield integrated steel plant with a production capaicty of 1.32 crore tonnes per annum. The capital expenditure for the project is expected to be Rs 65,000 crores including associated facilities.

• Wipro: The company acquired Convergence Acceleration Solutions, a U.S.-based consulting and program management firm that specialises in driving large-scale business and technology transformation. The firm will pay $50 million upfront for the deal and $30 million over the next three years.

• JSW Energy (Barmer): The company has received a notice from its JV and lignite supplier, Barmer Lignite Mining Co. Ltd., 51% owned by Rajasthan State Mines and Minerals Ltd., intimating that BLMCL has been directed by RSMML to stop mining operations at the two lignite mines (Kapurdi and Jalipa) in Rajasthan within 15 days. However, RSMML has been directed by the Rajasthan government to ensure uninterrupted lignite supply to the power plant. The company is in discussions with Rajasthan government to ensure no impact on the power plant operations.

• UltraTech Cement: The firm was declared as the preferred bidder for Diggaon Limestone Block in an e-auction conducted by the Karnataka government. The block is situated in Tehsil Chittapur, District Kalburgi, Karnataka adjacent to its Rajashree unit and has total cement grade geological resources of 530 million tonnes of limestone.

• Kesoram Industries: The company has appointed Rohit Shah as chief financial officer, effective April 11, after Suresh Kumar Sharma tendered his resignation. It also reappointed P Radhakrishnan as the chief operating officer for a period of three years. The company, in principle, considered the proposal of demerging its rayon, transparent paper and chemical business carried out by the company directly and through its wholly owned subsidiary Cygnet Industries and has constituted a committee to evaluate the proposal.

• Nestle India: The company approved interim dividend of Rs 25 per equity share of Rs 10 each.

• Reliance Capital: The company appointed Aman Gudral as chief financial officer effective April 12, after Vijesh Thota resigned.

• Shiva Texyarn: The company has received an order from the Ministry of Defence for supply of 35,000 bags for defence personnel for Rs 11.9 crore.

• Info Edge (India): The company has invested about Rs.3.7 crores in Terralytics Analysis for 20.5% stake.

• Vipul Organics: Announced bonus shares in the ratio of 1:4.

• Adani Transmission: Added 1,104 CKMS to transmission in FY22; distribution operations grew 11.2% year-on-year in the previous fiscal.

• Intellect Design: In pact with VPBank for Vietnam Banking Services.

• John Cockerill India: Greenko, John Cockerill sign JV pact for making electrolyzers.

Earnings Post Market Hours Yesterday

TCS Q4 FY22 (Consolidated, QoQ)

• Revenue up 3.5% at Rs 50,591 crore vs Rs 48,885 crore (Bloomberg estimate: 50,263.1 crore)

• Net profit up 1.61% at Rs 9,926 crore vs Rs 9,769 crore (Bloomberg estimate: 10,067 crore)

• EBIT up 3.2% at Rs 12,628 crore vs Rs 12,237 crore (Bloomberg estimate: 12,562 crore)

• EBIT margins at 24.96% vs 25.03% (Bloomberg estimate: 25.9%)

• Declared final dividend of Rs 22 per share

Delta Corp. Q4 FY22 (Consolidated, QoQ)

• Revenue fell 12% at Rs 218.32 crore vs Rs 252.2 crore

• Net profit fell 32% at Rs 48.11 crore vs Rs 70.38 crore

• EBITDA fell 35.6% at Rs 69 crore vs Rs 107.19 crore

• EBITDA Margins at 31.6% vs 43.3%

• Declared final dividend of Rs 1.25 per share

• Company approved scheme of amalgamation of Daman Entertainment and Daman Hospitality with the company.

Kesoram Industries Q4 FY22 (Consolidated, YoY)

• Revenue up 20% at Rs 1,031.78 crore vs Rs 861.56 crore

• Net loss of Rs 46.14 crore vs net profit of Rs 96.41 crore

• EBITDA fell 15% at Rs 97.78 crore vs Rs 115.17 crore

• EBITDA margin at 9.48% Vs 13.37%

Earnings To Watch Today

• Anand Rathi Wealth

• Hathway Cable & Datacom

• Tinplate Company of India

Insider Trades

• GATI: Promoter Group Bunny Investments and Finance sold 10,000 shares on March 8.

Bulk Deals

• Veranda Learning Solutions: Mansi Shares & Stock Advisors bought 4.93 lakh shares (0.88%) at Rs 125.88 apiece. Sunil Kumar Gupta bought 3.50 lakh shares (0.62%) at Rs 125 apiece. Rajasthan Global Securities sold 19.23 lakh shares (3.44%) at Rs 125 apiece. Viney Parkash Agarwal sold 3.27 lakh shares (0.58%) at Rs 125 apiece. Nomura Singapore sold 9.78 lakh shares (1.75%) at Rs 160.97 apiece. Khaitan Chemicals & Fertilisers: Koushik Sekhar sold 5.37 lakh shares (0.55%) at Rs 143.85 apiece.

Who's Meeting Whom

• Amber Enterprises: To meet investors and analysts on April 13.

• Escorts: To meet HDFC Mutual Fund on April 12.

Trading Tweaks

• Price band revised from 5% to 20%: Motherson Sumi Wiring India

• Moved into short-term ASM framework: Siyaram Silk Mills, Jaiprakash Associates

• Moved out of short-term ASM framework: Shaily Engineering Plastics, JK Paper, Gujarat Ambuja Exports

• Record date face value split: PBCL

• Ex-date extraordinary general meeting: Jyoti Structures

• Ex-date AGM/final dividend/special dividend: Sanofi India