The SGX Nifty indicated that the domestic market could extend its winning streak to the seventh consecutive day, as it stood at 17,719 levels, up 30-odd points as of 7:40 am. While the NASDAQ Composite index lost marginally, Dow Jones and S&P 500 indices gained up to 0.3%, with the US markets mixed overnight ahead of a crucial inflation report. In contrast, Asia-Pacific markets climbed higher, with the Nikkei 225, S&P 200, Hang Seng, and Kospi indices rising to 1%.

On Monday, the BSE Sensex rose 0.02%, closing at 59,847, while the NSE Nifty index settled at 17,624, up 0.14%. The Nifty Midcap 100 and Nifty Smallcap 100 also rose by 0.38% and 0.28%. 

The following stocks are expected to see action in Tuesday’s Trade.

Torrent Power: 

The company has emerged as the lowest bidder, beating Reliance Industries, for the supply of 1,100 megawatts of gas-based power to the government to meet potential record demand during summers. 

Cipla: 

On April 10, 2023, Cipla signed a perpetual licensing agreement with Novartis Pharma AG to manufacture and market the Galvus and Galvus combination brands, which are used to treat type 2 diabetes, starting from January 1, 2026. The deal is expected to strengthen Cipla’s position in the diabetes segment.

State Bank of India: 

SBI plans to raise $2 billion for FY24 through the issuance of senior unsecured notes. The bank’s board will meet on April 18 to discuss the possibility of issuing these notes through a public offer or private placement in US dollars or any other convertible foreign currency. SBI’s Executive Committee of the Central Board will also convene on the same day to consider long-term fundraising in single or multiple tranches.

Zydus Lifesciences: 

Zydus Lifesciences has received final approval from the USFDA to manufacture Azithromycin Tablets USP 500 mg, used to treat bacterial infections such as bronchitis and pneumonia, and Levothyroxine Sodium for Injection to treat myxedema coma.

Reliance Industries: 

Reliance Industries-backed Reliance consumer products, after re-launching Campa Cola, is planning to enter into the dairy market and compete with dairy brands like Amul and Mother Dairy by introducing ice cream products in Gujarat under its brand, Independence. 

Larsen and Toubro: 

L&T Energy Hydrocarbon has received an order from Chambal Fertilisers and Chemicals for the construction of a technical ammonium nitrate plant along with a weak nitric acid plant in Rajasthan. Additionally, the company received several offshore orders from a prestigious Middle Eastern client last week.

Bajaj Auto: 

Bajaj Auto has completed the transfer of Triumph India’s sales and marketing operations, marking the next phase of their partnership announced in 2020. Bajaj Auto will now manage all 15 Triumph Motorcycle dealerships in India. The two companies had announced plans to collaborate on a new range of mid-sized Triumph motorcycles.

JSW Steel: 

JSW Steel, an Indian steel manufacturer, reported 7% QoQ growth in consolidated crude steel production, reaching 6.58 million tonnes in Q4 of FY23. For the entire fiscal year, the company’s crude steel production was 24.15 million tonnes, up by 24% YoY, representing its highest-ever production. The increase was driven by improved capacity utilization at its Indian operations, with Q4 FY23 reaching 96% compared to 91% in Q3 FY23.

The SGX Nifty indicated that the domestic market could extend its winning streak to the seventh consecutive day, as it stood at 17,719 levels, up 30-odd points as of 7:40 am. While the NASDAQ Composite index lost marginally, Dow Jones and S&P 500 indices gained up to 0.3%, with the US markets mixed overnight ahead of a crucial inflation report. In contrast, Asia-Pacific markets climbed higher, with the Nikkei 225, S&P 200, Hang Seng, and Kospi indices rising to 1%.

On Monday, the BSE Sensex rose 0.02%, closing at 59,847, while the NSE Nifty index settled at 17,624, up 0.14%. The Nifty Midcap 100 and Nifty Smallcap 100 also rose by 0.38% and 0.28%. 

The following stocks are expected to see action in Tuesday’s Trade.

Torrent Power: 

The company has emerged as the lowest bidder, beating Reliance Industries, for the supply of 1,100 megawatts of gas-based power to the government to meet potential record demand during summers. 

Cipla: 

On April 10, 2023, Cipla signed a perpetual licensing agreement with Novartis Pharma AG to manufacture and market the Galvus and Galvus combination brands, which are used to treat type 2 diabetes, starting from January 1, 2026. The deal is expected to strengthen Cipla’s position in the diabetes segment.

State Bank of India: 

SBI plans to raise $2 billion for FY24 through the issuance of senior unsecured notes. The bank’s board will meet on April 18 to discuss the possibility of issuing these notes through a public offer or private placement in US dollars or any other convertible foreign currency. SBI’s Executive Committee of the Central Board will also convene on the same day to consider long-term fundraising in single or multiple tranches.

Zydus Lifesciences: 

Zydus Lifesciences has received final approval from the USFDA to manufacture Azithromycin Tablets USP 500 mg, used to treat bacterial infections such as bronchitis and pneumonia, and Levothyroxine Sodium for Injection to treat myxedema coma.

Reliance Industries: 

Reliance Industries-backed Reliance consumer products, after re-launching Campa Cola, is planning to enter into the dairy market and compete with dairy brands like Amul and Mother Dairy by introducing ice cream products in Gujarat under its brand, Independence. 

Larsen and Toubro: 

L&T Energy Hydrocarbon has received an order from Chambal Fertilisers and Chemicals for the construction of a technical ammonium nitrate plant along with a weak nitric acid plant in Rajasthan. Additionally, the company received several offshore orders from a prestigious Middle Eastern client last week.

Bajaj Auto: 

Bajaj Auto has completed the transfer of Triumph India’s sales and marketing operations, marking the next phase of their partnership announced in 2020. Bajaj Auto will now manage all 15 Triumph Motorcycle dealerships in India. The two companies had announced plans to collaborate on a new range of mid-sized Triumph motorcycles.

JSW Steel: 

JSW Steel, an Indian steel manufacturer, reported 7% QoQ growth in consolidated crude steel production, reaching 6.58 million tonnes in Q4 of FY23. For the entire fiscal year, the company’s crude steel production was 24.15 million tonnes, up by 24% YoY, representing its highest-ever production. The increase was driven by improved capacity utilization at its Indian operations, with Q4 FY23 reaching 96% compared to 91% in Q3 FY23.