Stocks in the news: Tech Mahindra, Maruti Suzuki, Tata Steel, IndusInd, IndiGo & Cyient

Indian stock indices settled with big gains on Thursday amid the monthly F&O expiry. The BSE Sensex jumped 486.50 points, or 0.66 per cent, to settle at 74,339.44. The NSE Nifty50 index surged 167.95 points, or 0.75 per cent, to end the session at 22,570.35. Here are the stocks that may remain under spotlight before the opening bell on Friday, April 26, 2024:

Q4 results today: Maruti Suzuki India, HCL Technologies, Bajaj Finserv, SBI Life Insurance Company, Shriram Finance, Bajaj Holdings & Investment, SBI Cards and Payment Services, Supreme Industries, Bank of Maharashtra, Motilal Oswal Financial Services, Atul and Aditya Birla Sun Life AMC are among the companies that will announce their quarterly earnings today.

Tech Mahindra: The IT services company reported a consolidated net profit of Rs 661 crore for the quarter ended March FY24, falling 41 per cent YoY following a weak topline. The revenue from operations for the reported quarter stood at Rs 12,871.30 crore, down 6.2 per cent YoY. The board has recommended a final dividend of Rs 28 per equity share for FY24.

Tata Steel: The Tata group firm has decided that it will proceed with its 1.25-billion-pound investment to build an electric arc furnace in Port Talbot, in South Wales, after months of formal and informal national-level discussions with the UK trade unions. The metal major would also commence the closure of the existing heavy-end assets in the following months.

IndusInd Bank: The private sector lender reported a 15 per cent YoY growth in standalone net profit at Rs 2,347 crore for the quarter ended March 31, 2024, driven by lower provisions for bad loans and higher pre-provision operating profit. Net interest income rose 15.1 per cent YoY to Rs 5,376.44 crore for the quarter. Asset quality remained steady.

Cyient: The IT solutions company's consolidated net profit came in at Rs 196.9 crore for the March 2024 quarter, rising 15.9 per cent YoY. Consolidated revenue rose 6.3 per cent YoY to Rs 1,861 crore in the January-March period for the quarter.

InterGlobe Aviation: The budget carrier has placed an order for 30 firm Airbus A350-900 aircraft for further expansion of its network. The aircraft will be powered by Rolls-Royce’s Trent XWB engine. Currently, IndiGo operates over 350 aircraft.

L&T Technology Services: The midcap IT firm reported a marginal 0.2 per cent growth in net profit for the March quarter at Rs 340 crore on slower revenue growth and narrowing of margins. Its revenue grew 7 per cent to Rs 2,537.5 crore for the given quarter.

NHPC: The Arbitral Tribunal has pronounced an award in the arbitration matter between L&T and NHPC in favor of Larsen & Toubro. L&T will receive the net claim amount of Rs 337.57 crore, and the counterclaim amount of Rs 45.18 crore will be received by NHPC.

UTI Asset Management Company: The mutual fund player reported a solid 90 per cent rise in its consolidated net profit at Rs 162.8 crore for the quarter ended March 2024, backed by strong operating numbers. Revenue from operations rose 38.4 per cent YoY to Rs 416 crore for the quarter.

CRISIL: Subsidiary CRISIL ESG Ratings has received the license from the Securities and Exchange Board of India (SEBI) to commence the business of ERP (the ERP rating provider) and has executed the business transfer agreement.

Schaeffler India: The motion technology company clocked a consolidated net profit at Rs 219.7 crore for the March 2024 quarter, rising 0.16 per cent YoY. Revenue from operations grew by 10.6 per cent YoY to Rs 1,873.1 crore for the quarter.

Faalcon Concepts: The trading in equity shares of the company will commence on the BSE SME with effect from April 26. The issue price is Rs. 62 per share. The stock will be in the trade-for-trade segment for 10 trading days.

PSP Projects: The civil construction company has raised Rs 244 crore as the board approved the allocation of 36,41,791 equity shares to eligible qualified institutional buyers at an issue price of Rs 670 per equity share.