Stocks to watch: SBI, Ambuja Cements, Wipro, Bajaj Finance, Hindustan Zinc, Info Edge

Here is the list of top stocks that could be in focus on April 28.

SBI: State Bank of India (SBI) is planning to raise long term fund in single/multiple tranches up to $2 Billion under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2021 – 22. The executive committee of the central board is scheduled to have a meeting on April 28, 2021 to consider the same.

Ambuja Cements: The company has successfully completed sea trials of using soya extract-based biofuel in two of its cement carriers — Ambuja Mukund and Ambuja Vaibhav. This makes Ambuja Cement not just the first Indian company to move towards the decarbonisation of the country’s coastal shipping lines but also advancing its focus on two of its strategic priorities: innovation and sustainability. The sea trials were conducted with the approval of the Directorate General of Shipping and the Indian Register of Shipping.

Hindustan Zinc: The company has reported results for the fourth quarter and year ended March 31, 2021. The company has reported a rise of 85.29% in its net profit at Rs 2481 crore for the quarter under review as compared to Rs 1339 crore for the same quarter in the previous year. The total income of the company increased by 48.98% at Rs 7242 crore for Q4FY21 as compared Rs 4861 crore for the corresponding quarter previous year. For the year ended March 31, 2021, the company has reported a rise of 17.27% in its net profit at Rs 7980 crore as compared to Rs 6805 crore for the previous year. The total income of the company increased by 19.29% at Rs 24448 crore for year under review as compared to Rs 20495 crore for year ended March 31, 2020.

Jindal Stainless: The company has started supplying liquid oxygen from Jajpur unit in Odisha to health facilities for the treatment of COVID-19 patients. Over 40 tonne Liquid Medical Oxygen (LMO) is being dispatched on a daily basis to meet the increasing demand in Odisha, Andhra Pradesh, and other states. In a stainless steel plant, oxygen is used as a chemical catalyst for melting the steel, besides in other processes.

Wipro: Wipro has achieved Amazon Web Services (AWS) mainframe migration competency status. This designation recognizes that the company has proven solutions, practices, and customer success in migrating both mainframe applications and data to AWS.

Bajaj Finance: Bajaj Finance has reported results for the fourth quarter ended March 31, 2021. The company has reported a rise of 30.20% in its net profit at Rs 1,160.85 crore for the quarter under review as compared to Rs 891.57 crore for the same quarter in the previous year. However, the total income of the company decreased by 7.75% at Rs 6,010.34 crore for Q4FY21 as compared Rs 6,515.16 crore for the corresponding quarter previous year. On a consolidated basis, the company has reported a rise of 42.04% in its net profit at Rs 1,346.64 crore for the quarter under review as compared to Rs 948.10 crore for the same quarter in the previous year. However, the total income of the company decreased by 5.20% at Rs 6,854.94 crore for Q4FY21 as compared Rs 7,230.84 crore for the corresponding quarter previous year.

Nicco Parks: The company is going to be temporarily closed for an initial period of ten days from April 28, 2021 up to to May 7, 2021. The said closure is due to the recent surge in the number of Covid-19 cases in the city.

Info Edge: Food delivery aggregator Zomato has proposed an IPO comprising the sale of new shares and an offer for sale by Info Edge (India). The board of Info Edge has approved participating in the OFS aggregating up to Rs 750 crore, according to reports.