Stocks To Watch Today: GIFT Nifty Trades Lower; HDFC Bank, Adani Power, Bajaj Auto, GR Infra In Focus On April 6

Domestic equities are poised for a muted-to-negative opening on April 6, tracking weak global cues, with the GIFT Nifty indicating a decline of nearly 90 points. A heavy flow of Q4 business updates across banking, NBFC, FMCG, and infra space, along with key order wins and corporate developments, will drive stock-specific action today.

Banking & Financials: Strong Growth Momentum, Mixed Trends

Banking stocks will remain in sharp focus after a slew of quarterly updates painted a largely healthy credit growth picture, albeit with pockets of weakness.

HDFC Bank reported steady traction with advances rising 12% YoY and deposits up 14.4%, reflecting continued balance sheet strength.

Axis Bank and Kotak Mahindra Bank also posted robust double-digit loan and deposit growth, signalling sustained credit demand.

Among NBFCs, Bajaj Finance stood out with a 22% jump in AUM and strong loan growth, although its deposit base saw a slight contraction.

However, not all trends were positive. IndusInd Bank reported a decline in both advances and deposits, raising concerns over near-term growth visibility.

Smaller lenders including Ujjivan Small Finance Bank, AU Small Finance Bank and IDFC First Bank continued to deliver strong growth across loan books and deposits.

Infra & EPC: Order Wins Trigger Action

Infrastructure stocks could see strong traction following a series of large order wins.

GR Infraprojects secured a major EPC railway project worth nearly Rs 1,900 crore, while J Kumar Infraprojects bagged a Rs 1,184 crore contract for a convention centre in Lucknow.

Rail-linked PSU Rail Vikas Nigam Limited also received a Rs 242 crore order for railway electrification upgrades.

Meanwhile, Vikran Engineering won power distribution contracts worth over Rs 530 crore from MSEDCL.

Power & Metals: Big Deals, Price Moves In Focus

Adani Power will be on radar after securing a 25-year contract to supply 2,500 MW renewable energy-based RTC power.

In metals, pricing actions and production updates may influence sentiment. NMDC revised iron ore prices, while MOIL hiked manganese ore prices by up to 17.5%.

Tata Steel may remain under pressure after receiving a Rs 1,755 crore demand notice related to legacy mining operations, though the company has indicated it will challenge the claim legally.

FMCG & Pharma: Acquisitions, Regulatory Updates

Emami announced a Rs 200 crore deal to acquire a majority stake in Axiom Ayurveda, strengthening its play in the healthcare segment.

Granules India will be tracked after its US facility received four observations from the US FDA following a recent inspection.

Meanwhile, Marico expanded its international footprint by acquiring a majority stake in a Vietnam-based skincare firm.

Real Estate & Consumption: Expansion Signals

Real estate major Prestige Estates Projects launched a large township project in Hyderabad with a gross development value of Rs 9,500 crore.

Retail consumption proxy Avenue Supermarts reported a strong 19% YoY revenue growth, with store count reaching 500.

Auto & Industrial: Sales, Operational Updates

Bajaj Auto reported a solid 20% YoY jump in March sales, driven by both domestic and export demand.

On the other hand, Tata Motors‘ JLR business reported a decline in wholesales and retail volumes, which may weigh on sentiment.

Key Corporate Developments To Track

• Oil and Natural Gas Corporation reported a fire incident at its Mumbai High platform; operations have since normalised
• Zaggle Prepaid Ocean Services saw a CFO-level change
• Deepak Nitrite announced key leadership reappointments
• Shree Cement approved a Rs 1,800 crore greenfield plant in Meghalaya

Market Setup

With global uncertainties resurfacing and mixed domestic cues, markets may remain volatile. However, strong business updates across financials and continued order inflows in infra could provide stock-specific opportunities.