Top stocks to watch out for on April 18: Jet Airways, Mindtree, Wipro, RIL

SUMMARY

Indian benchmark indices BSE Sensex and NSE’s Nifty 50 are likely open little changed on Thursday amid muted cues in Asian markets after a negative performance on Wall Street, with caution ahead of business surveys in Europe and Japan, and the Good Friday and Easter holidays keeping investors on the sidelines. On Tuesday, NSE Nifty and BSE Sensex extended gains to end at record highs amid sustained buying from foreign investors and positive sentiment in global peers. Investors were also optimistic as the earnings season got off to a good start and the IMD forecast average monsoon rains this year. Domestic stock, bond, commodity and forex markets remained closed on Wednesday on account of Mahavir Jayanti. Here are the top stocks to watch out for in today’s trade:

By CNBC-TV18Apr 18, 2019 7:39:57 AM IST (Published)

1. Jet Airways: In an extraordinary set of circumstances and after "painstaking evaluation", the airline has announced that it will suspend all operations, domestic and international, with immediate effect. The airline, saddled with roughly Rs 8,400 crore of bank debt, has been teetering for weeks after failing to receive a stop-gap loan of about Rs 1,500 crore from its lenders, as part of a rescue deal agreed in late March.

2. Mindtree: Mid-sized IT firm Mindtree on Wednesday said its consolidated net profit grew 8.9 percent to Rs 198.4 crore for the March 2019 quarter, from Rs 182.2 crore in the year-ago period. The Bengaluru-based company's revenue also increased by 25.6 percent to Rs 1,839.4 crore in the said quarter, as compared to Rs 1,464 crore in the year-ago period, Mindtree said in a regulatory filing.

3. Wipro: IT major Wipro on Tuesday reported a 38.4 percent year-on-year (YoY) jump in net profit at Rs 2,493.9 crore for the fourth quarter ended March 2019. In the corresponding quarter last year, the company posted a net profit of Rs 1,803 crore. The Wipro board had also approved Rs 10,500 crore buyback of 32.31 crore shares at Rs 325 per share.

4. InterGlobe Aviation: The DGCA is conducting a special safety audit of InterGlobe Aviation-owned IndiGo to inspect issues related toPratt & Whitney engines in the A320neo aircraft. The company's stock will also be in focus after Jet Airways suspended its flights temporarily after funds dried up for the debt-laden airline.

5. Reliance Industries: Mitsui O.S.K. Lines Ltd. to acquire a strategic stake in six group companies (each owning a Very Large Ethane Carrier) of RIL. Also, SaudiAramco, the world's biggest oil producer, is in talks to buy a stake of at least 20 percent in the refining and petrochemicals businesses of India's Reliance Industries Ltd, sources familiar with the matter told Reuters on Wednesday.

6. Jaypee Infratech: State-owned NBCC Ltd is likely to submit a revised bid by April 25 for acquiring debt-ridden Jaypee Infratech and complete the housing projects. Lenders of Jaypee Infratech met on Tuesday and asked NBCC to submit their plan by April 25 as requested by the public sector firm, sources said. NBCC and Suraksha Group are in a race to acquire bankruptcy-bound realty firm Jaypee Infratech.

7. Cadila Healthcare: Zydus received final approval from the USFDA for Acetazolamide for injection. Zydus announces Phase 3 trial of Desidustat in non-dialysis dependent chronic kidney disease (CKD) patients with anaemia.

8. ICICI Lombard: ICRA reaffirmed the iAAA rating to the claims-paying ability of the company.

9. Cipla: The wholly owned subsidiary Cipla Medpro South Africa (Pty) Limited has signed an agreement on 16th April 2019, to acquire 30 percent stake in Brandmed (Pty) Limited.

10. Results on April 18: Reliance Industries, RBL Bank, DCB Bank, ICICI Lombard General Insurance Company, Tata Sponge Iron, Jay Bharat Maruti, Uttam Galva Steels, Majestic Auto, Amal, Andhra Pradesh Tanneries, B2B Software Technologies