BackStocks to watch: NTPC, Cochin Shipyard, Adani Ports, Divi's, Wipro, Nazara Tech
Here are a few stocks likely to be in focus on Monday, May 27:
PremiumNTPC: The company reported a 33% YoY surge in Q4 net profit to ₹6,490 crore and a 7.6% increase in revenue to ₹47,622 crore. The company’s gross power generation rose by 4.15% to 93.387 billion units (BU) in Q4, compared to the same period last year, amid rising power demand due to high temperatures across the country. The board RECommended a final dividend of ₹3.25 per share.
Cochin Shipyard: The company reported a 558.1% YoY spike in profit to ₹258.88 crore and a 114.3% jump in revenue to ₹1,286 crore in Q4.
Torrent Pharma: The company reported a 56.4% YoY surge in Q4 net profit to ₹449 crore and a 10.2% increase in revenue to ₹2,745 crore in Q4. The company plans to raise ₹5,000 crore by issuing equity shares and convertible bonds through a qualified institutional placement (QIP).
Divi’s Laboratories: The company reported a 67.6% YoY surge in Q4 net profit to ₹538 crore and an 18% increase in revenue to ₹2,303 crore in Q4. The company’s EBITDA spiked 50.1% to ₹731 crore.
Glenmark Pharma: The company's net loss widened to ₹1,238.6 crore in Q4FY24, from a loss of ₹549.4 crore in the year ago period. The company’s revenue grew 2.1% to ₹3,063 crore.
Bosch: The company saw a 41.5% YoY growth in Q4 net profit to ₹564.4 crore and a 4.2% increase in revenue to ₹4,233.4 crore. The board recommended a final dividend of ₹170 per share.
Karnataka Bank: The bank reported a 22.5% YoY decrease in profit to ₹274.2 crore and a 3% decline in net interest income to ₹834 crore in Q4. The bank’s pre-provision operating profit dropped 27.1% to ₹499.8 crore.
United Spirits: The company reported a 136.3% YoY jump in Q4 net profit to ₹241 crore and an 11.2% increase in revenue (excluding excise duty) to ₹2,783 crore in Q4. The company’s EBITDA rose 42.1% to ₹334 crore.
Adani Ports, Wipro: Adani Ports and Special Economic Zone will replace Wipro in the BSE Sensex effective from June 24. Additionally, REC, HDFC AMC, Canara Bank, Cummins India, and Punjab National Bank will be included in the S&P BSE 100 index, while Page Industries, SBI Card, ICICI Prudential Life Insurance, Jubilant FoodWorks, and Zee Entertainment Enterprises will be removed. Trent will replace Divi's Laboratories in the S&P BSE Sensex 50 index.
Aurobindo Pharma: The company reported a 79.6% YoY increase in Q4 net profit to ₹909 crore and a 17.1% rise in revenue to ₹7,580 crore. The company’s EBITDA spiked 68.3% to ₹1,687 crore. Separately, the US FDA conducted an inspection at Unit III, a formulation manufacturing facility of the company’s subsidiary, Eugia Pharma Specialities. The inspection classification status of this facility has been determined as Official Action Indicated (OAI).
Aster DM: The Dubai-based healthcare company has entered into an agreement with Cauvery Medical Centre for the expansion of its existing Aster CMI Hospital premises by adding another 350 beds.
Tata Steel: The Calcutta High Court has dismissed the company’s writ petition regarding the rejection of a representation for the waiver of loans from the Steel Development Fund (SDF). The company, which has the liberty to approach the Joint Plant Committee, plans to seek further legal remedies. The outstanding loan (principal and interest) accounted for in the last audited financial statements is ₹2,751.17 crore.
Doms Industries: The company reported a 29.6% YoY jump in Q4 net profit to ₹46.9 crore and a 20% rise in revenue to ₹403.7 crore. The company’s EBITDA grew 22.6% to ₹75.9 crore.
Nazara Technologies: The company reported a net profit of ₹0.18 crore in Q4FY24, a significant drop from ₹9.4 crore reported in the same period last year. This was mainly due to a ₹16.87 crore loss from discontinued operations during the quarter.
Rail Vikas Nigam: The company has bagged a ₹187.34 crore project from Maharashtra Metro Rail Corporation (Nagpur Metro). The project involves the construction of six elevated metro stations in Phase 2.
Sun TV Network: The company reported a 9% YoY increase in Q4 net profit to ₹414.7 crore and a 14.4% jump in revenue to ₹961.3 crore in Q4.
Reliance Industries: The company has sought approval from the Competition Commission of India (CCI) for the $8.5-billion merger of Viacom18 and Star India Pvt Ltd (SIPL). The proposed transaction aims to combine the entertainment businesses of Viacom18, part of the Reliance Industries Ltd (RIL) group, and SIPL, wholly-owned by The Walt Disney Company (TWDC).
Indiabulls Housing Finance: The company reported a 21.6% YoY growth in Q4 net profit to ₹319.4 crore, but its net interest income fell 19.9% to ₹281 crore.
Suzlon Energy: The company reported a nearly 21% decline in consolidated net profit to ₹254 crore in Q4FY24, mainly due to certain exceptional items. However, the company’s total income rose to ₹2,207.43 crore in the quarter.
Narayana Hrudayalaya: The company reported a 17.7% YoY increase in Q4 net profit at ₹195 crore for Q4FY24. The company’s revenue from operations increased 4.7% to ₹1,279.4 crore.
Hindustan Construction Company: HCC reported a 22.12% rise in consolidated Q4 net profit at ₹246.2 crore. The company’s total income during the quarter stood at ₹1,813.05 crore.
Ashok Leyland: The company announced the appointment of KM Balaji as CFO. Gopal Mahadevan, the current CFO and Whole Time Director, will continue to be associated with Ashok Leyland as Director of Strategic Finance and M&A.
Jio Financial Services: The company is planning to enter the device leasing business and is seeking shareholder approval for its unit, Jio Leasing Services, to acquire equipment worth ₹36,000 crore from the retail arm of Reliance Industries.
Easy Trip Planners: The company reported a net loss of ₹15.08 crore in Q4, compared to a profit of ₹31.06 crore in the year ago period. However, the company’s revenue surged 40.7% to ₹164 crore. Additionally, co-founder and CEO Nishant Pitti has withdrawn his personal bid from the GoAir acquisition process, stating that he would focus on other strategic priorities and initiatives aligning with the company’s long-term vision and growth objectives.
Shaily Engineering Plastics: The board appointed Paresh Jain as the chief financial officer effective from May 24. Sanjay Shah was redesignated from chief strategy officer and chief financial officer to chief strategy officer.
Astra Microwave Products: The company reported a 302.3% YoY surge in Q4 net profit to ₹54.4 crore and a 37% jump in revenue to ₹354 crore. The company’s EBITDA zoomed 135.5% to ₹80.7 crore.
Affle India: The company reported a 40.2% YoY spike in Q4 bet profit to ₹87.5 crore and a 42.3% increase in revenue to ₹506.2 crore.
HDFC Asset Management Company: Mudeita Patrao resigned as the Head – Digital effective from June 21, 2024, to pursue other interests.
Hero MotoCorp: The company has filed a rectification applications for reassessment orders pertaining to six assessment years: 2013-14 to 2017-18 and 2019-20. The rectification orders received resulted in the reduction of the original tax demand from ₹604.87 crore to ₹177.96 crore. The company has filed appeals against the same.
Divgi Torqtrans: The compay saw a 11.28% YoY decrease in net sales to ₹65.06 crore in March 2024. The quarterly net profit was ₹9.21 crore, down 31.55% from March 2023. The EBITDA stands at ₹18.24 crore, down 16.71% from the previous year.
Harrisons Malyalam: The company saw a 19.56% YoY increase in net sales to ₹140.98 crore in March 2024. However, the company reported a quarterly net loss of ₹9.55 crore, down 2245.9% from the loss of ₹0.45 crore in March 2023. The EBITDA stands at ₹3.30 crore, down 34% from the previous year.
Paras Defence and Space Technologies: The company reported an 18.9% YoY fall in Q4 net profit to ₹9.6 crore, but its revenue jumped 22.4% to ₹79.7 crore.
ZF Commercial Vehicle Control Systems India: The company reported a 1% YoY dip in Q4 net profit to ₹100.2 crore and a 1.9% decline in revenue to ₹958.6 crore.
Zuari Agro Chemicals: The company reported a net profit of ₹77.4 crore in Q4, compared to a loss of ₹426.7 crore YoY. However, the company’s revenue declined 33% to ₹897.7 crore.
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