Stocks to watch on April 23: HLCTech, Airtel, LTIMindtree, Bajaj Housing Finance
The Sensex and Nifty closed higher for the sixth day in a row on Monday, and investors are hoping the positive momentum will continue on April 23. The Nifty opened on a strong note and reached a new high for the calendar year 2025, touching 24,242 during the session.
Ajit Mishra, Senior Vice President – Research at Religare Broking Ltd, said, “While India’s economy is showing strength, weak performance in US markets is limiting gains. With Nifty hitting its short-term target of 24,250, some sideways movement is expected. Still, the outlook remains positive.”
As the market awaits further direction, several stocks such as HCLTech, Airtel, Waaree Energies, Varun Beverages, tec are likely to remain in focus today due to earnings updates, business announcements, and market activity.
HCL TECHNOLOGIES
HCL Technologies posted its fourth-quarter results for FY24. The company’s net profit fell by 6.2% to Rs 4,307 crore from Rs 4,591 crore in the previous quarter. Revenue, however, rose by 1.2% to Rs 30,246 crore from Rs 29,890 crore.
In dollar terms, revenue dropped by 1% to $3,498 million compared to $3,533 million. Earnings before interest and tax (EBIT) fell by 6.5% to Rs 5,442 crore, while the EBIT margin dropped to 18% from 19.5%. The board has announced an interim dividend of Rs 18 per share for the financial year 2024–25.
LTIMINDTREE, BAJAJ HOUSING FINANCE, TATA CONSUMER PRODUCTS
Shares of LTIMindtree, Bajaj Housing Finance, Tata Consumer Products, and Astec Lifesciences will be watched closely as all these companies are scheduled to release their quarterly earnings on Wednesday. Market reaction will depend on both results and future guidance.
WAAREE ENERGIES
Waaree Energies reported strong results for the fourth quarter. Its profit rose by 34.1% year-on-year to Rs 618.9 crore, up from Rs 461.5 crore. Revenue grew by 36.4% to Rs 4,003.9 crore from Rs 2,935.8 crore in the same period last year.
BHARTI AIRTEL
Bharti Airtel and its subsidiary, Bharti Hexacom, have signed final agreements with Adani Data Networks, a unit of Adani Enterprises. Airtel will now have the rights to use 400 MHz of spectrum in the 26 GHz band. This spectrum covers important markets such as Gujarat, Mumbai, Andhra Pradesh, Rajasthan, Karnataka, and Tamil Nadu.
VARUN BEVERAGES
Varun Beverages has started commercial production at its new plant in Prayagraj, Uttar Pradesh. The facility will produce carbonated soft drinks, juice-based beverages, and packaged drinking water. This is part of the company’s plan to expand its production capacity and reach.
RBL BANK
British International Investment Plc has fully exited RBL Bank by selling its 3.82% stake. The shares were sold at an average price of Rs 184.74 per share, bringing in Rs 428.57 crore. Another investor, Unity Associates, sold 88.1 lakh shares at an average price of Rs 187.39 per share.
POWER FINANCE CORPORATION
The state-owned Power Finance Corporation said it is still following up on dues of Rs 307 crore from Gensol Engineering. The company said it is looking at all possible options to recover the pending amount.
BHARAT FORGE
Bharat Forge has received approval from the Competition Commission of India (CCI) to buy 100% of AAM India Manufacturing Corporation. The deal has been cleared with voluntary changes made by Bharat Forge.
HAVELLS INDIA
Havells India reported a 16% increase in its profit for the fourth quarter. The company posted a profit of Rs 518 crore compared to Rs 446 crore in the same quarter last year.
