IndusInd Bank, YES Bank, Suzlon Energy, BSE, HAL: 5 stocks in focus; here's why

IndusInd Bank Ltd, YES Bank Ltd, Suzlon Energy Ltd, BSE Ltd and Hindustan Aeronautics Ltd (HAL) are five stocks which would be in focus on Tuesday, April 1. Suzlon Energy will be in focus after updates on order cancellations and truncations, while HAL will be in news after mega order wins. The BSE board has announced bonus issue, YES Bank has been slapped with Rs 2,209 crore tax notice while updates on PwC report on IndusInd Bank is all expected to trigger reaction on the counter tomorrow. 

IndusInd Bank:
The Reserve Bank of India (RBI) had directed IndusInd Bank’s management to complete the remedial actions in full during the current quarter, Q4FY25, (March 31), following the necessary disclosures to all stakeholders. Investors are anticipating the release of a report from PricewaterhouseCoopers (PwC), expected today, which will detail the Rs 2,100 crore discrepancy in derivatives accounting and outline the actual losses incurred by the bank.

YES Bank:
YES Bank has received a reassessment order, which does not include any additional disallowances or additions. However, the computation sheet and the Notice of Demand issued under Section 156 of the Income Tax Act, dated the same day, have raised an income tax demand (including interest) amounting to Rs 2,209.17 crore. The bank has stated that, prima facie, this demand appears to be without any basis.

YES Bank further asserted that it has substantial grounds to defend its position in this matter and does not anticipate any material adverse impact on its financials, operations, or other activities due to this order. The bank intends to pursue an appeal and rectification proceedings against the reassessment order under the applicable legal provisions.

Suzlon Energy:
In its filing with the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), Suzlon Energy reported an order book of 5,523 MW as of January 28. Following new order acquisitions, cancellations, and truncations, the current order book stands at 5,622 MW.

Suzlon highlighted the cancellation of a 99 MW order from Vibrant Energy and the truncation of a 201.6 MW order from O2 Power Private Limited (Teq Green Power XI Private Limited) to 100.8 MW. Additionally, a customer has decided not to proceed with a 100.8 MW order for the 3 MW series.

BSE:
The Bombay Stock Exchange has approved the issuance of bonus equity shares in a 2:1 ratio, entitling shareholders to two equity shares of Rs 2 each for every one fully paid-up equity share of Rs 2 each held as of the record date. The record date will be announced soon to determine shareholder eligibility for the bonus shares.

Hindustan Aeronautics Limited (HAL):
The Ministry of Defence has signed two contracts with HAL for the supply of 156 Light Combat Helicopters (LCH), known as ‘Prachand,’ to the Indian Army (90 units) and the Indian Air Force (66 units). The contracts, valued at approximately Rs 62,700 crore (excluding taxes), also include provisions for training and associated equipment.