Top 10 stocks for today – 16th April 2024

16 Apr 2024 , 08:36 AM

Here are some of the stocks that may see significant price movement today.

Jio Financial Services: Jio Financial entered into a 50/50 joint venture agreement with BlackRock Inc and BlackRock Advisors Singapore Pte Ltd to establish wealth management and brokerage companies in India. The wealth management and brokerage company will be launched only if regulatory and statutory clearances are obtained.

Cipla: Cipla Health, the company’s wholly-owned subsidiary, has inked a business transfer agreement to acquire the distribution and marketing business activity of cosmetics and personal care companies from Ivia Beaute, India, via a slump sale arrangement on a continuing concern basis. The purchase value on the closing day is ₹130 Crore, which includes ₹110 Crore provided certain financial benchmarks are reached over the following three years.

InterGlobe Aviation: IndiGo’s market share rose to 60.5% in March 2024, from 60.1% in February. IndiGo ranked third in on-time performance (OTP) at 81.3%.

JSW Infrastructure: Arun Maheshwari has been re-appointed as the company’s joint managing director and CEO, effective April 18. Furthermore, Anoop Kumar Mittal has been appointed as an additional and independent director of the firm.

SpiceJet: The low-cost airline’s market share in March 2024 grew to 5.3% from 5.2% the previous month. SpiceJet ranked sixth in terms of on-time performance (OTP), with 63.6%.

VST Industries: Ace investor Radhakishan Shivkishan Damani purchased 2,33,766 equity shares (equal to 1.51% of paid-up equity) in the cigarette manufacturing firm at an average price of ₹3,689.96 per share, totaling ₹86.26 Crore. However, HDFC Mutual Fund sold 1,30,811 equity shares in VST at an average price of ₹3,690 per share, followed by 2 lakh shares at an average price of ₹3,690.38 per share.

Gujarat Gas: The firm has entered into a non-binding Memorandum of Understanding (MOU) with Indian Oil Corporation to expand the breadth and accessibility of energy solutions for consumers. According to the MoU, the Indian Oil Corporation would supply liquid fuels, vehicle lubricants, greases, and specialty products to Gujarat Gas outlets. Furthermore, Gujarat Gas will establish a CNG facility and a CNG mother facility at Indian oil shops.

Punjab & Sind Bank: Prem Chand Kumar has been named as the bank’s Chief Technical Officer (CTO) for three years, beginning on April 15. He formerly worked at SBI as an adviser to the general manager’s (YONO) IT department before joining Punjab & Sind Bank.

GTPL Hathway: The digital cable TV services provider reported a consolidated net profit of ₹16 Crore for the quarter ended March FY24, compared to a net loss of ₹10.8 Crore the previous year, despite a lower operating margin. Revenue from operations for the quarter climbed by 16.7% to ₹808 Crore from the same time in the previous fiscal year, with the digital cable TV sector gaining 14% to ₹314.8 Crore and the internet segment growing 5% to ₹130.8 Crore.

Ramco Systems: The business has inked an agreement with the client to pay US$1.50 million in two equal installments by December 31, 2024, as a full and final settlement of the issue. The settlement amount has already been included in the financial statements for the nine months ended December 31, 2023.

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