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Stocks to Watch, May 2: Tata Motors, Wipro, Vedanta, Jindal Stainless, BSE

Stocks to Watch on Thursday, May 2, 2024: Vedanta is looking to invest $20 billion in India across all its business over the next four years


Nikita Vashisht New Delhi

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Stocks to Watch on Thursday, May 2: Indian equity markets will react to the US Federal Reserve's policy decision, announced overnight, as it resumes trading after a day's holiday. At 7:45 AM, Gift Nifty was quoting 29 points higher at 22, 747 levels.

Asian markets, meanwhile, were mixed with Nikkei, and Kospi lower by around 02. per cent each, while ASX200, and Hang Seng added up to 0.8 per cent.  Mainland China market remained closed for the Labor Day holiday.

Overnight, the Dow added 0.23 per cent, the S&P 500 shed 0.34 per cent, and the Nasdaq Composite slid 0.33 per cent.

Here is a list of stocks to watch today:

Vedanta: Vedanta is looking to invest $20 billion in India across all its business over the next four years, its Chairman Anil Agarwal said on Wednesday.

The investments, he said, would be focused into the glass and semiconductors business, electronics, among other businesses.

Hero MotoCorp: Hero Moto sold 533,585units of motorcycles and scooters in April 2024, clocking a growth of 34.7 per cent year-on-year (Y-o-Y).

Eicher Motors: Eicher Motors' sales of trucks and buses in the domestic market fell 20 per cent Y-o-Y in April 2024, while exports grew 38.5 per cent. However, taking into account the sales of Volvo buses and trucks, total sales of the company fell 18.1 per cent Y-o-Y.

Maruti Suzuki India: India's biggest car manufacturer sold 1.68 lakh vehicles in April 2024, registering a flat growth on a yearly basis.

Tata Motors: Tata Motors' sales in the domestic and international market for April 2024 stood at 77,521 vehicles vs 69,599 units during April 2023. While Total CV sales stood at 29,538 units, (up 31 per cent  Y-o-Y), total PV sales came at 47,983 units (up 2 per cent Y-o-Y).

TVS Motor: TVS Motor Company registered a growth of 25 per cent Y-o-Y with sales increasing from 306,224 units in April 2023 to 383,615 units in April 2024.

Jindal Stainless: The stainless steel manufacturer has announced a three-pronged investment strategy worth Rs 5,400 crore as part of its expansion plan.

BSE: BSE will revise the transaction charges for its options contracts in the equity derivatives segment.

The revised charges will come into effect from May 13 for S&P BSE Sensex options and S&P BSE Bankex options. For the period between May 13-31, the premium turnover of these contracts will be cumulated and the transaction charges will be levied based on the slab on the incremental turnover basis.

Godrej group stocks: The Godrej family has reached an agreement to split the conglomerate into two branches, with Adi and brother Nadir keeping the listed entities while cousin Jamshyd gets the control of unlisted companies and the land bank.

Wipro: The company received a multi-million-dollar deal with Nokia to overhaul the employee service desk.

Kotak Mahindra Bank: KVS Manian, joint managing director of the company has resigned with immediate effect.

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First Published: May 02 2024 | 8:04 AM IST

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