Stocks to Watch Today, 16th April 2025: Wipro, IndusInd Bank, Gensol Engineering, IREDA, and more
Indian equity markets are likely to see a negative opening on Wednesday after a two-day sharp rally due to a 90-day suspension of country-specific reciprocal tariffs on 75 nations and possible exemptions on tariffs on electronic products. At 7:38 AM, the GIFT Nifty Futures declined by 85 points at 23,279 levels.
Key Stocks in Focus
Wipro, a prominent player in the IT sector, is set to release its Q4 earnings today, making it a key stock to monitor. Investors and market analysts will be scrutinising the company's financial results to assess its performance and future outlook.
IndusInd Bank faces scrutiny following a report from an independent agency that has highlighted discrepancies in its derivative transactions. The report puts the potential negative impact of these transactions at ₹1,979 crore as of June 2024. Post-tax, this could translate into a 2.27% erosion in the bank's net worth as of December 2024. The bank has stated its intention to account for this impact in its FY25 financials and is implementing steps to strengthen internal controls on derivative accounting operations.
Gensol Engineering is in regulatory limelight with the Securities and Exchange Board of India (SEBI) ordering an interim stop against the firm and its directors, Anmol Singh Jaggi and Puneet Singh Jaggi. This development by the regulator of the capital markets comes over allegations of improper handling of funds and fund diversion in the firm. The interim stop orders that have been made prohibit Gensol Engineering and its directors from taking part in the securities markets pending further direction.
Indian Renewable Energy Development Agency (IREDA) had a strong performance for the quarter to March with its consolidated net profit showing a 49% year-on-year growth to ₹502 crore from ₹337 crore in the corresponding quarter last year. The overall revenue from operations of the company also increased by a strong 37% year-on-year to ₹1,905.06 crore.
ICICI Lombard reported its FY2025 financials with a year-on-year increase of 30.7% in profit after tax (PAT) at ₹2,508 crore compared to ₹1,919 crore in FY2024. The board of the company has also recommended a final dividend of ₹7 per share for the year. But for the quarter ended March 31, ICICI Lombard posted a 2% fall in net profit at ₹510 crore compared with ₹520 crore in the year-ago quarter. Although quarterly profit fell, the company's total income increased to ₹5,851 crore in the quarter ended March 31 compared with ₹5,165 crore in the year-ago quarter. The gross direct premium income also increased marginally to ₹6,211 crore.
Swiggy has signed a Memorandum of Understanding (MoU) with the Ministry of Labour & Employment. The partnership will help increase gig and logistics job opportunities through the National Career Service (NCS) portal with the aim to generate more than 1.2 million jobs in the coming 2-3 years.
JSW Steel announced its intention to invest more than ₹50,000 crore towards the development of 10 million tonnes per annum of green steel capacity at its facility near Mumbai in Raigad district's Salav. This brownfield investment is to be made in the next three to four years.
PB Fintech, the parent entity of Policybazaar, said that its subsidiary has obtained a payment aggregator licence from the Reserve Bank of India (RBI). The firm had earlier announced the creation of a wholly-owned subsidiary, PB Pay Private Limited, with the aim to apply for this licence.
Tata Consultancy Services: The Andhra Pradesh government has handed over 21.16 acres of land in Visakhapatnam to Tata Consultancy Services (TCS) at a token price of a mere 99 paisa. TCS is said to be investing Rs 1,370 crore in its Vizag center and generating 12,000 jobs.
Vedanta: Cairn Oil & Gas has won 7 new blocks in the Open Acreage Licensing Policy (OALP) Round IX auction. The newly won blocks are 4 onshore and 3 shallow water blocks in the Cambay, Saurashtra, and Mumbai hydrocarbon basins. Cairn's portfolio now consists of 69 blocks in the country with this addition.
Oil India: The oil exploration firm has won 9 blocks under OALP stands for the Open Acreage Licensing Policy (OALP) Round IX, increasing its exploration portfolio by more than 51,000 sq. km—6 blocks as the sole operator and 3 as a partner in a consortium. With this, OIL's overall exploration acreage has gone up from 60,000 sq. km to 110,000 sq. km, an 85 percent increase.
Max India: The Board has sanctioned raising funds up to Rs 125 crore by issuing equity shares through a rights issue.
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