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Stocks in Focus: Zydus Lifesciences, Bajaj Finance, Coforge, and Others

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The GIFT Nifty futures, an early indicator of the Nifty50 index, were trading 0.49% higher by 111.50 points at 22,895, indicating that the domestic benchmark indices are likely to make a positive start on Friday.  

On Tuesday, 2 May, Domestic benchmark indices S&P BSE Sensex gained 128.33 points, or 0.17%, to end at 74,611.11 while the Nifty50 traded 43.35 points, or 0.19% higher and settled at 22,648.20.

Here are some stocks that are likely to remain in focus on 3 May.

Quarterly Results Today: Godrej Properties, MRF, Mangalore Refinery and Petrochemicals, First Source Solutions, Raymond, Go Fashion India, Titan, Britannia Industries, Adani Green Energy, Carborundum Universal, Inox Wind, Aptus Value Housing Finance, HFCL, Tatva Chintan Pharma Chemical, and Aarti Drugs are some of the prominent companies that are set to release their quarterly earnings for January-March.

Zydus Lifesciences: Bayer Pharmaceuticals Pvt Ltd has acquired the remaining 25% stake in Bayer Zydus Pharma, thus fully acquiring it. 

Bajaj Finance: The company announced that the Reserve Bank of India has removed its earlier restrictions on sanctioning and disbursing new loans in the ‘eCOM’ and online/digital Insta EMI card segments. 

Coforge: The company has announced its plans to acquire a 54% stake in Cigniti Technologies at an average price of Rs 1,415 per share. 

Birla Corporation: The company has given approval for restructuring the second phase expansion plans for its grinding cement plant in Uttar Pradesh, which will require an investment of Rs 425 crore.

Ajanta Pharma: The company’s Board of Directors have approved its fourth equity share buyback since 2020 with an intention to repurchase up to 10.28 lakh equity shares. 

Ceat: In its quarterly report for January-March, the company reported a 23% year-on-year decline in its consolidated net profit to Rs 102 crore from Rs 

Mazagon Dock Shipbuilders: The company has received an international shipbuilding contract for the construction of three hybrid-powered vessels, which is valued at $42 million. 

Adani Energy: The company has signed an agreement with Windson Project to purchase Points Leap Projects for a total consideration of Rs 13.15 crore. 

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