Stocks to watch, April 17, 2023: Infosys, HDFC Bank, Zydus Life, HCL Tech, Torrent Power

Stocks to watch today: At 08:18 am, the Nifty futures on the Singapore Exchange traded 90 points, or 0.50 per cent lower at 17,781 levels.

Stock market today April 17, 2023

The Indian equity market is likely to see a gloomy start on Monday, April 17 as a weak set of numbers by index heavyweights Infosys and HDFC Bank will weigh on market sentiment. Further, cautious Asian markets ahead of a raft of Chinese data and negative SGX Nifty, too, point towards a negative start for the Nifty50. At 08:18 am, the Nifty futures on the Singapore Exchange traded 90 points, or 0.50 per cent lower at 17,781 levels.

Let's take a look at the top ten stocks that may remain on investors' radar today:

Infosys: The stock of the IT services giant is expected to trade actively today as the company released its March quarter earnings last week. The company reported a 7 per cent QoQ decline in its consolidated net profit at Rs 6,128 crore for the quarter ended March 2023 (Q4FY23). On a yearly basis, the profit grew 7.8 per cent. Revenue for the period stood at Rs 37,441 crore, down 2.3 per cent QoQ and up 16 per cent on a year-on-year (YoY) basis. Both the bottom line and top line missed Zee Business analysts' estimates.

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HDFC Bank: India's largest private sector lender on April 15 reported a 19.8 per cent year-on-year rise in its standalone net profit at Rs 12,047.45 crore for the quarter ended March 2023 (Q4FY23). The bank's net profit; however, was slightly below Zee Business analysts' estimates of Rs 12,300 crore.

Torrent Power: The company on Thursday (April 13) announced its Chief Financial Officer (CFO) Lalit Malik has resigned with immediate effect. The Board of Directors at its meeting on Thursday accepted the resignation tendered by Malik due to health reasons, Torrent Power said in a regulatory filing.

HCL Tech: The company's digital business head Anand Birje has resigned from the IT services company to pursue another opportunity, the company informed exchanges on April 13.

Zydus Lifesciences: The company has received final approval from the USFDA for Isoproterenol Hydrochloride Injection. Isoproterenol hydrochloride injection is indicated to improve hemodynamic status in patients in distributive shock and shock due to reduced cardiac output and for treatment of bronchospasm occurring during anaesthesia. The drug will be manufactured at the group’s injectable manufacturing facility at Jarod, near Vadodara (India), the regulatory filing said.

TVS Motor Company: The company, in its regulatory filing last week, informed that its unit TVS Motor (Singapore) Pte Ltd, has completed its acquisition of the 25 per cent stake in Killwatt GmbH.

Va Tech Wabag: The company's Board of Directors has granted approval for the sale of a 100 per cent stake in Wabag Switzerland.

Brightcom Group: The Securities and Exchange Board of India (SEBI) on April 13 (Thursday) issued a show-cause notice-cum-interim order against Brightcom Group and four others on alleged fraud in the company’s financial statements.

Gujarat State Petroleum Corporation has nominated Shri Milind Torawane, IAS, as the Joint Managing Director on the Board of Directors of GSPL, the company said in its regulatory filing.

Tata Motors on Friday (April 14) said it will increase the prices of its passenger vehicles from May 1 to partially offset the increase in input costs. The weighted average increase will be 0.6 per cent, depending on the variant and model, Tata Motors said in a statement.

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