Key Stocks to Monitor as Indian Market Faces Downtrend
Stocks to watch: Bajaj Finance, Eternal, BHEL among 10 shares in focus today
Mint
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The Indian stock market faced a decline on April 28, with the Nifty 50 dropping 0.40% and the S&P BSE Sensex falling 0.54%. Key stocks to watch include Bajaj Finance, Adani Power, and Eternal, which are set to announce their Q4 results amidst rising crude oil prices and geopolitical tensions.
- 01Nifty 50 closed 0.40% lower at 23,995 amid geopolitical tensions.
- 02Bajaj Finance and other companies will announce Q4 results on April 29.
- 03Eternal reported a 346% year-on-year increase in net profit to ₹174 crore.
- 04Maruti Suzuki's net profit dropped 6.5% to ₹3,659 crore despite revenue growth.
- 05BHEL entered a technology transfer agreement for naval gas turbine applications.
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On April 28, the Indian stock market experienced a downturn, with the Nifty 50 index closing 0.40% lower at 23,995 and the S&P BSE Sensex falling 0.54% to 76,886. This decline was influenced by ongoing geopolitical tensions and elevated crude oil prices, which remain firm in the $110–113 per barrel range, raising inflation concerns. As the market anticipates a cautious opening, several stocks are highlighted for their upcoming quarterly results. Notably, Bajaj Finance, Adani Power, Indian Bank, Waaree Energies, and Federal Bank will announce their Q4 results on April 29. Eternal, which operates food delivery platform Zomato, reported a significant 346% year-on-year jump in net profit to ₹174 crore. In contrast, Maruti Suzuki India saw a 6.5% drop in net profit to ₹3,659 crore, despite a 28.2% increase in revenue to ₹52,462.5 crore. Other companies like Bandhan Bank and Bharat Heavy Electricals (BHEL) also reported varying results, with Bandhan Bank's net profit surging 68% to ₹530 crore and BHEL entering a licensing agreement for gas turbine applications.
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The market's downturn could affect investor sentiment and lead to cautious trading, impacting potential investment decisions for ordinary investors.
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