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Stocks in Focus: Aditya Birla Fashion, Infosys, Ashok Leyland, Maruti Suzuki, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.23% lower by 52.6 points at 22,550, indicating that the domestic benchmark indices are likely to make a negative start on Tuesday. 

On Monday, 1 April, Domestic benchmark indices started the new financial year on a strong note, with both Nifty and Sensex hitting new record-high levels in intraday trade. The S&P BSE Sensex gained 363.2 points, or 0.5%, to end at 74,014.6, while the Nifty50 traded up by 135.1 points, or 0.6%, and settled at 22,462. 

Here are some stocks that are likely to remain in focus on 2 April.

Aditya Birla Fashion: The company’s board has approved the vertical demerger of the Madura Fashion & Lifestyle business from ABFRL into a separately listed company. 

Ashok Leyland: The company posted a 7% year-on-year decline in total domestic sales to 21,317 units in March 2024 from 22,885 units in March 2023.

Maruti Suzuki India: The company reported its domestic sales for March 2024 at 1,52,718 passenger vehicles, registering a 15% YoY growth compared to 1,32,763 units in March last year.

Infosys: The Income Tax department has slapped the company with a tax demand of Rs 341 crore for the assessment year 2020-21. 

IIFL Finance: The company has received approval from the National Stock Exchange of India for acquiring shares aggregated to Rs 284.4 crore of the bourse from a Fairfax India Holdings Corp.-backed company.

AU Small Finance Bank: The company has completed the merger of Fincare Small Finance Bank. 

NTPC: The power generation company has signed a supplementary joint venture agreement with UP Rajya Vidyut Utpadan Nigam for the Obra-D (2X800 megawatt) and Anpara-E (2X800 megawatt) projects.

Vodafone Idea: The company’s EGM is scheduled for today and will take shareholders’ approval to raise Rs 20,000 crore. 

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