In the Sensex pack, HCL Tech was the top gainer, rising over 2% as the IT major reported a net profit jump of 11% in Q4 FY23. Kotak Mahindra, Asian Paints, Titan, Wipro and IndusInd Bank also opened higher. On the other hand, Tech Mahindra, Tata Steel, Tata Motors, Maruti and NTPC opened with cuts.

The interim dividend for 2023 will be paid on or from May 8 along with the final dividend for 2022 after members of the company approve the same at the annual general meeting scheduled to be held on April 12.

“Reliance stock has broken out from a downward trending channel on the weekly chart and is trying to close above its 20 day EMA currently. The stock is also seen bouncing from the lower bollinger band on the monthly chart with a bullish candle,” said Rahul Ghose, founder and CEO – Hedged.

After HCL Technologies reported its quarterly earnings, major global brokerages like Morgan Stanley and JP Morgan cut target prices and earnings estimates for the third-largest Indian IT company by market capitalisation.

Nifty futures on the Singapore Exchange traded 21.5 points, or 0.12 per cent, higher at 17,686.50, signaling that Dalal Street was headed for positive start on Friday. Here are some stocks which are expected to see some action in trade today.

Low PE stocks are considered value stocks and are best suited for long-term investment horizons. Infosys, HCL Tech, Tata Steel and SBI are trading at PEs lower than their respective industry PEs, according to Trendlyne data. Meanwhile, these stocks can rally up to 31%, Trendlyne data further suggested. Take a look:

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on SBI and Zydus Life while Nooresh Merani has a buy/sell recommendation on Bharti Airtel and Apollo Tyres for today's trading session. Check out the targets and stoploss.

“Options data suggests a shift in a trading range in between 17400 to 18000 zones while an immediate trading range in between 17500 to 17850 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

The price of this company has been sliding lower since August 2022 and has formed a bottom near Rs 1,380. For the past two months, the price has been consolidating between Rs 1,380 and Rs 1,442 and has now given a breakout from this range by rising above a horizontal trendline. The breakout in price is supported by a rise in volume, which increases the reliability of the breakout.

While there will always be an active debate about the appropriateness of the 2% target in the economic community, "we're not changing it right now," the official said in comments after a speech in Philadelphia. "We have to do what we said we are going to do" and use central bank policy to hit the stated target.

After a medium-term correction, the stock is witnessing positive consolidation near the 200-Day SMA (Simple Moving Average). It has also formed a higher bottom formation which indicates a strong possibility of a fresh uptrend rally from the current levels.

The stock markets on Thursday swung within a limited zone, with the Nifty ending the day almost flat. The volatility index is showing one of its lowest values, sounding caution for investors to refrain from widespread purchases.

The S&P 500 fell overnight, too, with some heavy selling on weak results. Tesla shares tumbled 9.7% after the electric vehicle maker posted its lowest quarterly gross margin in two years. AT&T shares dropped 10.4% after the wireless carrier missed revenue and cash flow estimates.

The S&P 500's rally to start the year is set to be tested by a first-quarter earnings season that investors expect to show tepid results. So far, analysts have largely retained last week's expectations of a near-5% year-on-year fall in quarterly profits at S&P 500 companies, according to Refinitiv data.

HCL Tech has reported a consolidated net profit of Rs 3,983 crore for the quarter ended March. This is an increase of 11% from Rs 3,593 crore clocked in the corresponding period of last year.

Blackstone, the other contender, is in background for the likely Rs 5500-6500 cr buyout.

“The strong growth in net sales in India was related to mobile networks, as 5G deployments continued to ramp in Q1 2023,” said Nokia in its first quarter earnings statement.

The CEO may spend much of the next six months on the road, meeting customers as he settles into the role. That will help him execute the customer-centricity task set by the TCS board headed by N Chandrasekaran, who’s also Tata Sons chairman.

The Reserve Bank of India's Monetary Policy Committee (MPC) is likely to hold interest rates steady in its June policy review with a unanimous vote to maintain the status quo, given that the cumulative rate hikes since last May appear sufficient to tackle inflation. However, there are two caveats: Truant monsoons should not stoke inflation in farm-gate prices, and crude oil should not rally. Additionally, analysts have suggested that the unchanged stance reflects the panel's flexible approach towards rates, should inflation unexpectedly accelerate.

Kotak Mahindra Bank, which had 0.64% voting rights, objected to Ocean Capital Markets resolution plan since it would compel them to release third-party guarantees in favour of the resolution applicant without recovering their entire dues.

Anil Agarwal-led resources conglomerate Vedanta has encumbered a part of its stake in Hindustan Zinc (HZL) to raise Rs 1,500 crore in loans against those shares at more than 50% margin to their market value, Vedanta told the exchanges in a mandatory filing Thursday.

Lenders to Anil Ambani-promoted Reliance Capital decided they will not accept any topping offer outside the proposed auction process and negotiate only with the highest bidder, multiple people aware of the development told ET.

Several companies, according to banking circles, are unable to make fresh financial commitments to their offshore arms after the central bank made it clear that remittances would be allowed only after the lapses have been identified and fines are paid.

In the process, it became the 11th Indian listed company to touch ₹5 lakh crore in market capitalisation. In the last month, the stock has risen over 6% and yielded more than 20% returns since the beginning of calendar 2023.

"This is also a fit case where SEBI needs to send a stern message to professionals who associate themselves with securities market so as to prevent them from indulging in such acts of omissions and commissions as found in this case," Sebi said.

The brokerage said Tata Consultancy Services, LTIMindtree, HCL Technologies, and Mphasis are most at risk of multiple downgrades while Infosys, Wipro, and TechM face greater earnings risks.

Infosys shares on Monday plunged as much as 15% to hit a 52-week low of ₹1,185.30 as investors were disappointed by the company's weaker-than-expected growth guidance. The stock ended 9% lower.

Short-term traders can look to buy the stock now or on marginal dips for a possible target of Rs 620-630 in the next few weeks, suggest experts. The scrip hit a record high of Rs 622 on February 1, 2023, but failed to hold momentum. It found support above Rs 530 levels before bouncing back.

The proceedings have emanated from allegations raised through several whistle-blower complaints received by the Securities and Exchange Board of India (Sebi) in December 2018 of interference in the rating process of the credit rating agency by Mokashi.

"JSPL stock has given a positive bullish candle pattern on the daily chart with recently moving past the significant 50-EMA level of 563 to improve the bias and trend anticipating for a further rise in the coming days," Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd, said.

StartUp Central | Paytm saw a good move in today's trading session after Motilal Oswal initiated coverage with a 'Buy' rating; ET now's Vinnii Motiwala brings us more details

Nippon India MF has increased its stake by 0.29% in PNB Housing Finance as Goldman Sachs Mauritius Fund offloaded the same. The shares were transacted at a price of Rs133. Punjab National Bank owns the registered PNB Housing Finance Company, which offers retail loans and corporate loans. Foreign portfolio investors own a 24.2% stake in the company, while domestic fund houses own only 1.85% of the company. PNB Housing Finance has not released its Q4 results yet; however, according to Trendlyne data, the company has an average target price of Rs 555, which is an upside of 30.11% from the current levels.

“It has come to the notice of the exchange that some market participants are using the Exchange data for gaming and virtual trading purposes which goes against the principles of fair and transparent trading,” NSE said.

Market benchmark indices Sensex and Nifty ended with marginal gains on Thursday after falling in the past three days, helped by fag-end buying in energy, telecom and utility stocks. While Nifty managed to hold 17,600 levels, India VIX cooled off on the weekly expiry day by around 2%“Nifty made a marginally higher top and bottom compared to the previous session on April 20. For two days, we have seen a tight high-low range for the Nifty. It could soon expand its high-low range. Nifty could stay in the 17557-17729 band for the near term,” Deepak Jasani, Head of Retail Research, HDFC Securities, saidHere are stock recommendations for Friday:

The Dow Jones Industrial Average fell 156.41 points, or 0.46%, at the open to 33,740.60

On Thursday, the Sensex ended marginally higher at 59,632. However, despite this modest market upswing, 7 stocks from the BSE smallcap index hit their lowest trading prices in the past 52 weeks. This technical indicator of a stock's lowest price over the past year is often used by traders and investors to evaluate a stock's present worth and to make predictions about its future price movements.

Tesla's gross margins fell to a more than two-year low in the first quarter and missed market estimates, after the company kicked off a discounting drive in January to defend its dominance in the U.S. and make inroads in key market China.

Real estate developer Jet Infraventure will trade ex-bonus on 21 April. The company announced a one-for-one bonus issue of shares to investors, with extra equities to be credited within two months of the Board's approval on 9 May. Shareholders who own shares prior to the ex-date are eligible for additional shares. The bonus shares are designed to increase liquidity while making the stock more affordable for investors. Jet Infraventure's authorised capital has also been increased from RS3 crore to RS5.5 crore.

The auditors will need to submit quotations to the exchange within 5 working days, and upon receipt of the quotations, the exchange will shortlist 3 auditors who have submitted the lowest quotes.

Cholamandalam Investment and Finance will diversify its liability base and utilise foreign currencies for funding as it looks to expand beyond its traditional vehicle financing portfolio. The company launched retail non-convertible debentures on 10 March 2021 and will gradually increase retail deposits in its liability profile over the next few years. The diversification in liabilities is complimentary to its plan to expand its loan portfolio. The NCD issue has a base issue size of INR5bn ($68.9m) and will open on 16 March.

The Indian benchmark Nifty 50 traded within a narrow range amid bouts of profit booking, with support at 17,550 and 17,442 points on the downside, and resistance at 17,717-17,777 levels. Analysts suggest the market is witnessing a non-directional activity near the 200-day SMA, and while the daily momentum indicator has triggered a fresh negative crossover, we should assign less weightage to the signal until the Nifty 50 breaks below 17,550-17,500. The range of consolidation is set to be between 17,500-17,800 for the next few sessions.

Engineering and technology solutions provider Cyient has announced a final dividend of INR16 ($0.21) per equity share for the financial year ending 31 March 2023. The dividend is equivalent to 320% of the share's face value of INR5. The record date for the payout will be announced in due course

In the Sensex pack, Asian Paints, NTPC and Tata Motors were the top gainers, rising over 1%. Bharti Airtel, L&T, SBI, Wipro and Maruti also closed with gains. Whereas, HUL, Sun Pharma, Infosys, UltraTrch Cement and Bajaj Finance settled in the red.

Closing Bell: Sensex ends choppy trade 65 pts higher; Nifty holds above 17,600; Adani Power jumps 5%, Divis Labs drops 4%

Coinbase has secured a license to operate its digital assets business in Bermuda as part of its global expansion plans, and is reportedly in talks regarding a license in Abu Dhabi. The move comes as Coinbase CEO Brian Armstrong warns that crypto firms may be forced to develop in offshore havens if the US and UK do not create regulatory clarity. The exchange is also apparently looking to launch a crypto derivatives exchange in Bermuda. Meanwhile, US regulators are becoming increasingly active against crypto firms, with the SEC threatening to sue Coinbase in March.

Sunil Singhania's Abakkus Emerging Opportunities Fund has increased its stake in Technocraft Industries by 0.23% to 3.20% during the March quarter of 2021. Technocraft Industries manufactures high-quality steel tubes, as well as building solutions, and is majority-owned by promoters. Its public shareholder base holds around 25.32% stake while DIIs have a stake of 4.5%, and foreign investors hold 0.8% of the company

Water treatment equipment and products manufacturer Ion Exchange will split its shares at a ratio of 1:10, subject to regulatory approval. The move is intended to increase stock liquidity. Amendments to the company's Memorandum of Association (MoA) and Articles of Association (AoA) have also been approved, alongside strong recent results

All the public shares will be acquired by promoters and members of the promoter group viz. T T Jagannathan, T T Raghunathan and TT Krishnamachari & Co, the exchange filing said.

“ITC outperforms HUL due to its consistent success in quarterly figures, which take cues from demand recovery in the cigarette and hotel businesses, cost optimisation, and trending sales momentum in the FMCG industry,” said Ravi Singh, vice president and head of research, Share India.

Headquartered in Hyderabad, Hariom Pipe is a premium manufacturer of iron and steel products. The company has a diverse product portfolio consisting of mild steel billets, pipes and tubes, hot rolled coils and scaffolding systems.