Stocks to watch: Shriram Finance, Airtel, Vedanta, Sanofi India, DLF, Zomato

Shriram Finance: US-based Warburg Pincus has acquired a majority stake in Shriram Housing Finance Ltd (SHFL) for ₹4,630 crore, marking its largest deal in India. The acquisition was made through its affiliate Mango Crest Investment Ltd from Shriram Finance Ltd (SFL) and other sellers. The deal is expected to be completed by February 7, 2025.

Bharti Airtel: The telecom company is projected to report a Q4FY24 consolidated net profit of ₹2,201 crore, a 26.8% YoY decrease, according to analyst estimates. The company's revenue is anticipated to rise by 7.9% YoY to ₹38,736 crore in Q4FY24, with operating profit margins expected to increase by 549 basis points to 31% YoY. Further, operating profit margins are predicted to rise by 57 basis points YoY to 52.4% in the January-to-March quarter. The company's subscriber base is expected to grow by three million to reach 349 million in Q4FY24.

Vedanta: The company is considering raising funds through equity shares or other methods such as a further public offer (FPO), rights issue, etc. The decision is expected to be finalized in the upcoming board meeting scheduled for May 16.

Sanofi India: The pharmaceutical major reported a standalone net profit of ₹136.6 crore for Q1FY24, a 28% decrease from the same quarter of the previous year. The company's revenue was ₹732.4 crore, a 0.5% decrease from the year-ago quarter.

DLF: The realty company reported a 62% increase in its consolidated net profit to ₹920.71 crore in Q4FY24 due to higher income and strong housing sales. The company also announced a dividend of ₹5 per equity share (250%) of face value of ₹2 each for FY24. It also announced the appointment of Ashok Kumar Tyagi as the managing director of the company, after the resignation of Vivek Anand effective from 29 February 2024.

Zomato: Following its first annual profit, Zomato is expanding its quick-commerce venture, Blinkit, aiming to add 100 dark stores by June and reach a target of 1,000 warehouses by the fiscal year-end. Blinkit, which turned operationally profitable in March, witnessed a twofold increase in both revenue and gross order value in Q4. Zomato added approximately 75 Blinkit stores from January to March, bringing the total warehouse count to 526. In the March quarter, Zomato reported a profit of ₹175 crore, a significant turnaround from a loss of ₹188 crore in the same period the previous year, with operational revenue rising to ₹3,582 crore from ₹2,058 crore. For the full financial year 2023-24, Zomato recorded a profit of ₹351 crore, compared to a loss of ₹971 crore in the preceding year.

INOX India: The company reported a 44% YoY increase in their net profit to ₹44 crore in Q4FY24. The company's revenue increased 17% YoY from ₹235 crore to ₹276 crore. Sequentially, the company's net profit declined 9% from ₹48.5 crore, while revenue from operations plunged 4% from ₹290 crore the December 2023 quarter.

ICICI Securities: The National Company Law Tribunal (NCLT) has deferred the ICICI Securities case in which non-institutional minority shareholders challenged its delisting and merger with ICICI Bank. The case is now expected to be taken up in July.

Jindal Steel and Power: JSPL reported a 100.21% YoY jump in net profit at ₹933.5 crore for the fourth quarter that ended 31 March, 2024. The company's revenue from operations dipped 1.5% to ₹13,487 crore compared to ₹13,692 crore in the corresponding period of the preceding fiscal.

Piramal Pharma: The company plans to grow organically and invest more than ₹700 crore ($85 million) in brownfield expansion through FY25, primarily in the contract development and manufacturing organisation (CDMO) segment.

Infosys: The Canadian government has imposed a penalty of over 1.34 lakh Canadian dollars (about ₹82 lakh) on IT company Infosys for alleged underpayment of employee health tax for the year ended December 31, 2020.

JBM Auto: The auto parts manufacturer reported a consolidated net profit of ₹55.75 crore for Q1FY24, a 99% YoY increase. Operational revenue rose by 47.11% YoY to ₹1,486 crore, and EBITDA increased by 60.4% YoY to ₹172.3 crore, expanding the margin by 100 bps to 11.6%.

TCS: Tata Consultancy Services (TCS) has announced the creation of a Global Artificial Intelligence (AI) Center of Excellence in Paris. The new AI center will be based in the upcoming TCS PacePort in Paris and will focus on areas such as brain-computer interface, building empathy in machines, and leveraging AI in arts and culture.

Chalet Hotels: The hotel chain posted a consolidated net profit of ₹82.4 crore for Q1FY24, a 125% YoY increase. Revenue from operations increased by 23.8% YoY to ₹418.3 crore. CFO Milind Wadekar will step down on June 30 but will remain a senior management member until September 30. He will then assume a higher role within the K Raheja Corp Group from October 1. Nitin Khanna will take over as CFO from July 1.

Cochin Shipyard: The company has received an order of about ₹1,000 crore to construct vessels from a European client. The vessel is equipped with hybrid battery systems to improve energy efficiency and reduce carbon footprints.

Coromandel International: The company announced that it is acquiring an additional 7% stake in Chennai-based drone manufacturing company Dhaksha Unmanned Systems through its wholly-owned subsidiary Coromandel Technology Limited (CTL).

BLS E-Services: The company reported a consolidated net profit of ₹10.3 crore for Q1FY24, a 58.55% YoY decrease due to a high base. Revenue from operations increased by 1.3% YoY to ₹73.6 crore.

Hero MotoCorp: The company has joined the ONDC network, becoming the country's first auto company to join the network. The Open Network will initially offer two-wheeler parts, accessories, and merchandise.

RVNL: Rail Vikas Nigam has clinched a contract from Southern Railway for ₹239 crore. The contract involves the provision of an automatic block signalling system spanning the Jolarpettai and Erode junctions within the Salem division of Southern Railway.