BackStocks to watch: Tata Motors, ICICI Bank, Vedanta, Piramal Enterprises, Zomato
Here are a few stocks likely to be in focus on Monday, May 13:
PremiumTata Motors: The company reported a 222% surge in net profit to ₹17,407.2 crore in Q4FY24, driven by strong performance across all auto businesses. The company's total revenue rose 14.3% to ₹1.2 lakh crore. The board recommended a final dividend of ₹6 per ordinary share and ₹6.20 per ‘A’ ordinary share for FY24. The company also plans to separate its vehicle financing subsidiaries and merge them with Tata Capital to streamline operations and reduce debt. The move will involve a share-swap arrangement, with Tata Sons offering shares of Tata Capital to Tata Motors.
Eicher Motors: The company reported an 18.2% rise in consolidated net profit to ₹1,070.45 crore in Q4FY24. The company’s total revenue increased 11.87% to ₹4,256.04 crore. The board recommended a final dividend of ₹51 per equity share for FY24.
Wipro: Anis Chenchah, head of Asia Pacific, the Middle-East, and Africa at Wipro Ltd, has resigned. His resignation comes amid challenging times for Wipro's APMEA business. Wipro replaced Chenchah with Vinay Firake, a Wipro veteran of 26 years.
Adani Enterprises: The Gautam Adani-led company plans to invest ₹80,000 crore in FY25, with a significant portion going towards new energy businesses and airports. The company also aims to produce 10 GW of solar modules and 3 GW of wind turbines. Adani Group has started commercial production of wafer and ingots for solar cells and modules, aiming to become India's first integrated renewable energy player by 2027-28.
JK Cement: The company reported a consolidated net profit of ₹219.75 crore in Q4FY24, up 101% from ₹109.52 crore in the year-ago period. The company's consolidated revenue for the quarter was ₹3,105.77 crore, marking an 11% increase from the ₹2,777.88 crore of the previous year. Additionally, JK Cement declared a total dividend of ₹20 per share, comprising a recommended dividend of ₹15 and a special dividend of ₹5.
ICICI Bank: Bijith Bhaskar, the Head of Cards, Payment Solutions, E-Commerce Ecosystem, Merchant Ecosystem, and Consumer Finance, has resigned from his position, effective from May 18.
Vedanta: The company has acquired an additional 46.57% stake in Japanese display major AvanStrate Inc for $78.3 million. With this acquisition, Vedanta's total holding in AvanStrate has risen to 98.2%.
Cipla: The pharmaceutical major reported a consolidated net profit of ₹939.04 crore for the March quarter, up 78.64% YoY due to higher demand in key markets. The company's consolidated revenue rose 7.4% YoY to ₹6,163.24 crore. However, the revenue was below expectation. The company is also considering marketing Eli Lilly's weight loss drugs in India. The two companies already have a strategic partnership for the insulin range. Eli Lilly plans to launch Mounjaro, a diabetes drug and obesity treatment, in India in 2025. Cipla's EBITDA margins are expected to reach 25% for FY25.
Dr. Lal PathLabs: The company reported a 49% rise in net profit at ₹84.5 crore in Q4FY24. The company's revenue from operations rose 11% to ₹545.5 crore. The board recommended a final dividend of ₹6 per equity share for FY24.
Bank of Baroda: The bank reported a standalone net profit of ₹4,886.49 crore for Q4FY24, up 2.3% YoY. The bank’s net interest income (NII) also increased 2.3% to ₹11,793 crore. The bank recommended a dividend at ₹7.60 per equity share for FY24.
Kalyan Jewellers: The company reported a consolidated net profit at ₹1,374.93 crore for the March quarter, growing almost two times from ₹697.99 crore in the same quarter of the previous financial year. The total revenue of the company is ₹45,349.30 crore, rising 34% from ₹33,818.20 crore in the year-ago quarter.
Piramal Enterprises: The company reported a net profit of ₹137.09 crore in Q4, a significant improvement from the loss of ₹195.87 crore in the same period last fiscal year. The company's revenue saw a growth of 2.16% from the previous quarter.
Sterlite Technologies: The company reported a topline decrease of 39.2% and a loss of ₹82 crore in Q4. This marks a significant downturn compared to the profit of ₹67 crore in the same period of the previous fiscal year.
ABB India: The company reported a 82% YoY rise in its net profit at ₹467 crore in the March quarter on higher revenue. The company's total income rose to ₹3,080 crore, up 29% YoY in the first quarter. Total orders surged to ₹3,607 crore, the highest for the first quarter in the last five years.
JSW Steel: The company's consolidated crude steel production for April 2024 was 21.21 lakh metric tonnes, a 0.4% YoY increase. Production volumes were impacted by iron ore availability constraints from Karnataka mines at Vijayanagar.
Zomato: The company announced the resignation of the auditor of its subsidiaries Zomato Hyperpure and Blink Commerce. The resignation paves the way for the food tech platform’s auditor Deloitte Haskins & Sells to be appointed in its place to make the audit process more efficient. Zomato is scheduled to report its Q4 results today, May 13.
Novartis India: The pharmaceutical company reported a 41.6% YoY decline in net profit at ₹14.6 crore in Q4FY24. The company's revenue from operations increased by 6.7% to ₹81.2 crore. The board recommended a final dividend of ₹25 per equity share for FY24.
JSW Cement: The company announced that it will establish a new site in Nagaur, Rajasthan, which will be the company's first unit in the northern part of the country. The company plans to add 2 million tonnes of capacity during this calendar year (2024) with a medium-term plan of achieving 60 million tonnes capacity in the next 5 years.
Zydus Lifesciences: The pharmaceutical company has received the USFDA's final approval to market Dexamethasone tablets in the US, a drug used to treat a variety of health conditions.
APL Apollo Tubes: The structural steel tube manufacturer reported a net profit of ₹170.4 crore for Q1 FY24, a 15.6% YoY decrease, despite a 7.6% YoY increase in revenue from operations to ₹4,765.7 crore.
Finolex Industries: The company reported a 1% YoY decline in net profit at ₹164.9 crore for Q4 of FY24. The company's revenue from operations increased by 8.3% to ₹1,235.4 crore. The board recommended a final dividend of ₹2.50 per fully paid-up equity share for FY24.
Piramal Pharma: The company reported a 102.1% YoY increase in net profit at ₹101.3 crore for Q4FY24. The company's revenue from operations increased by 18% to ₹2,552.4 crore. The board recommended a final dividend of ₹0.11 per equity share for FY24.
Union Bank of India: The company reported a 19% YoY increase in net profit at ₹3,310.6 crore for Q4 of FY24. The bank's net interest income rose by 14.4% to ₹9,436.6 crore. The board recommended a dividend of ₹3.60 per equity share for FY24.
Housing & Urban Development Corporation: The company has signed an MoU with SITCO for the construction and development of the Surat Multi Modal Transportation Hub. SITCO is a joint venture of the Ministry of Railways, the Government of Gujarat, and the Surat Municipal Corporation.
Dilip Buildcon: The infrastructure company reported a consolidated net profit of ₹5.34 crore for Q4FY24, against a loss of ₹73.2 crore in the same period of the previous fiscal.
Punjab & Sind Bank: The bank reported a net profit of ₹139.4 crore for Q4 FY24, a 69.5% YoY decrease, with higher provisions, lower operating profit, and other income. However, net interest income grew by 0.8% YoY to ₹689.3 crore for the quarter.
Tata Power: The company is in discussions with group firms and various commercial and industrial customers to supply green energy solutions. The company plans to provide integrated green energy solutions to customers and offer carbon credit on their green power sale.
BEML: The company reported a 62.9% YoY growth in consolidated net profit at ₹256.8 crore for Q4FY24.
Thermax: The company reported a 20% rise in its consolidated net profit at ₹188 crore in Q4FY24. Its consolidated income also rose to ₹2,818.93 crore. The board has recommended a dividend of ₹12 per share for FY24.
Aarti Industries: Despite a higher topline and better operating numbers, the chemical company reported a consolidated net profit of ₹132 crore for Q1 FY24, an 11.4% YoY decrease.
Lupin: The pharmaceutical company re-launched Mirabegron ER tablets 25 mg in the US after the US Court lifted the temporary restraining order on Mirabegron ER tablets.
Neuland Laboratories: The pharmaceutical company recorded a 20% YoY decline in net profit at ₹67.6 crore for Q4 FY24.
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