April 16th: Key Stocks to Watch – IndusInd Bank, ICICI Lombard, IREDA, and More. SEBI issues interim order against Gensol Engineering, and other companies release earnings results.
Stocks to Watch: A slight dip is anticipated in the domestic stock markets on April 16th, with investor attention focused on several key stocks. SEBI has issued an interim order against Gensol Engineering and its promoters, alleging fund misappropriation and misleading disclosures.
Key Stocks in Focus
IndusInd Bank: The bank revealed in a report that derivative anomalies have negatively impacted its net worth by ₹1,979 crore, which will be reflected in the FY25 financial statements.
ICICI Lombard: The general insurance company's net profit declined by 1.9% to ₹510 crore, although full-year PAT showed a 30.7% increase.
Gensol Engineering: SEBI has issued an interim order against the company and its promoters, prohibiting them from holding any managerial positions within the company.
Adani Total Gas: The company's profitability is expected to be impacted as Gas Authority of India has reduced domestic gas allocation by 15%.
IREDA: The government lender for renewable energy projects reported a 48.7% surge in net profit, driven by robust growth in interest income.
Lemon Tree Hotels: The company signed a license agreement for a resort hotel property in Mori Bera, Rajasthan, expected to commence operations in 2027.
Swiggy: The company signed a memorandum of understanding with the Ministry of Labour, aiming to create over 1.2 million job opportunities in the next 2-3 years.
NHPC: The company announced the commencement of commercial operations of Unit-4 of the Parbati-II hydropower project in Himachal Pradesh.
TCS: The Andhra Pradesh government approved the allocation of 21.16 acres of land in Visakhapatnam to the company, expected to generate 12,000 jobs.
