Stocks to watch: Wipro, IndusInd Bank, Swiggy, IREDA, Vedanta among shares in focus today

Here’s a quick look at stocks likely to be in focus in today’s trade.

Wipro

IT major stock will remain in focus on Wednesday as the company will announce its fourth quarter earnings today.

IndusInd Bank

The bank has received a report from an independent agency highlighting discrepancies in its derivative transactions. As of June 2024, the report estimates a negative impact of ₹1,979 crore from these deals. On a post-tax basis, the agency has calculated a 2.27% reduction in the bank’s net worth as of December 2024 due to these issues. The bank will account for this impact in its financial statements for FY25 and will continue to enhance internal controls concerning derivative accounting operations.

Gensol Engineering

The capital markets regulator, SEBI, has issued an interim order against Gensol Engineering and its promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, following findings of financial mismanagement and diversion of funds.

Swiggy

The food delivery company has entered into a Memorandum of Understanding (MoU) with the Ministry of Labour & Employment to boost gig and logistics job opportunities through the National Career Service (NCS) portal, with the goal of generating over 12 lakh employment opportunities in the next 2 to 3 years.

Aster DM Healthcare

The Competition Commission of India (CCI) has granted approval for the proposed merger of Quality Care India Ltd (QCIL) with Aster DM Healthcare through a scheme of amalgamation. Following the merger, the combined entity will be renamed Aster DM Quality Care.

IREDA

Indian Renewable Energy Development Agency (IREDA) reported a 49% year-on-year increase in its consolidated net profit for the March quarter, reaching ₹502 crore, up from ₹337 crore in the same period last year.

NHPC

NHPC has announced the commencement of commercial operations for Unit 3 (200 MW) of the Parbati-II Hydroelectric Project (4×200 MW) located in Himachal Pradesh.

ICICI Lombard

The company reported a 30.7% increase in profit after tax (PAT), reaching ₹2,508 crore in FY2025, up from ₹1,919 crore in FY2024. The Board has recommended a final dividend of ₹7 per share for FY2025.

Vedanta

Cairn Oil & Gas has secured 7 additional blocks in the Open Acreage Licensing Policy (OALP) Round IX auction. The newly acquired assets consist of 4 onshore and 3 shallow water blocks situated in the hydrocarbon-rich regions of Cambay, Saurashtra, and Mumbai. This latest expansion brings Cairn’s total portfolio to 69 blocks nationwide.

Tata Consultancy Services

The Andhra Pradesh government has granted 21.16 acres of land in Visakhapatnam to Tata Consultancy Services (TCS) at a nominal cost of just 99 paisa. Sources indicate that TCS intends to invest ₹1,370 crore in its Vizag facility and generate around 12,000 employment opportunities.

Mahanagar Gas

The company’s allocation of Administrative Price Mechanism (APM) natural gas has been cut by 18%, effective April 16, compared to the allocation from the previous fortnight. The reduced APM volume will be substituted with New Well/Well Intervention Gas (NWG). This decrease in APM gas allocation is anticipated to negatively affect profitability. However, the company is actively exploring various strategies to minimize the impact.

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