Stock to Watch Today - Rupeedesk Reports - 08.05.2024
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Voltas, Delta Corp, Tata Elxsi, Navin Fluorine, LTIMindtree, Dr. Reddy’s Laboratories, PB Fintech, L&T, Pidilite Industries and others in news.
Results on May 8: Larsen & Toubro, Hero MotoCorp, Canara Bank, Tata Power Company, TVS Motor Company, Bajaj Consumer Care, Balaji Amines, Bharat Forge, ESAF Small Finance Bank, Greaves Cotton, Gujarat State Petronet, Home First Finance Company India, India Shelter Finance Corporation, Kalpataru Projects International, Piramal Enterprises, Sula Vineyards, Vijaya Diagnostic Centre, and Westlife Foodworld will release March quarter earnings on May 8.
PB Fintech: The Policybazaar operator has recorded profit of Rs 60.19 crore for the quarter ended March FY24, against a loss of Rs 9.34 crore in the corresponding period of the previous fiscal. Revenue during the quarter grew by 25 percent year over year to Rs 1,090 crore, and premium increased by 43 percent to Rs 5,127 crore during the same period.
JSW Energy: The JSW Group company recorded consolidated net profit of Rs 345.3 crore for the March FY24 quarter, increasing 22.4 percent over the same period in the previous fiscal year despite muted topline, driven by strong operating numbers and lower fuel costs. Revenue from operations grew by 3.2 percent year over year to Rs 2,755.9 crore for the quarter. The company has received approval from the board of directors for raising funds up to Rs 10,000 crore via QIP.
Voltas: The Tata Group company recorded consolidated net profit at Rs 110.6 crore for the March FY24 quarter, declining 22.8 percent compared to the year-ago period on lower operating numbers with higher input costs. Revenue from operations grew by 42.1 percent year-on-year to Rs 4,202.9 crore for the quarter, with strong growth in unitary cooling products and electro-mechanical projects and services segments. The board has recommended a dividend of Rs. 5.50 per share.
IRB Infrastructure Developers: The infrastructure company has reported consolidated net profit at Rs 188.9 crore for the quarter ended March FY24, growing sharply by 45.1 percent over the same period previous fiscal despite weak operating margin and higher JV losses, driven by strong topline and other income. Revenue from operations grew by 27.2 percent YoY to Rs 2,061.2 crore for the quarter.
LTIMindtree: The global technology consulting and digital solutions company, has announced a collaboration with IBM to establish a global, joint Generative AI Center of Excellence (CoE) in India, combining the power of the IBM Watsonx AI and data platform with the engineering skills of LTIMindtree.
Tata Elxsi: The technology and design services company, has collaborated with Arm (the global semiconductor design and software platform company) to offer advanced solutions on the latest Arm processors. This will help automotive OEMs and Tier-1s fast-track their transition to software-defined vehicles (SDVs).
CreditAccess Grameen: The microfinance institution has recorded net profit at Rs 397 crore for the March FY24 quarter, growing 33.9 percent over the same period of the previous fiscal. Net interest income grew by 33.7 percent year over year to Rs 921.9 crore for the quarter. Asset quality weakened with the gross NPA rising 21 bps QoQ to 1.18 percent and the net NPA increasing 6 bps to 0.35 percent for the quarter.
Jindal Saw: The OP Jindal Group company has registered 61.5 percent on-year growth in net profit at Rs 480.4 crore for the fourth quarter of financial year 2024, with strong operating numbers. Revenue from operations grew by 4.6 percent year over year to Rs 5,425.2 crore for the quarter. The board has recommended a dividend of Rs. 4 per share.
Storage Technologies and Automation: The Racks and Rollers will list its equity shares on the BSE SME on May 8. The issue price is Rs. 78 per share. The stock will be available in the trade-for-trade segment for 10 trading days.
Sonata Software: The company has reported a net profit of Rs 110.4 crore for the March FY24 quarter, against a loss of Rs 46.2 crore in the previous quarter. Profit was partly boosted by other income in Q4 FY24, and the loss in Q3 FY24 was due to an exceptional loss of Rs 174.66 crore. Revenue from operations fell 12.1 percent QoQ to Rs 2,191.6 crore for the quarter.
United Breweries: The beverage company has reported net profit at Rs 81.55 crore for the March FY24 quarter, growing more than 8-fold from Rs 9.87 crore in the year-ago period, with strong operating numbers. Revenue from operations grew by 20.8 percent year over year to Rs 2,133.4 crore for the quarter. The board has recommended a dividend of Rs 10 per share and has approved the appointment of Jorn Kersten as the Chief Financial Officer, with effect from August 1 this year.
KEC International: The global infrastructure EPC major has registered net profit of Rs 151.8 crore for the quarter ended March FY24, which was more than double the Rs 72.2 crore profit in the year-ago period. Revenue from operations increased by 11.6 percent year over year to Rs 6,165 crore for the quarter.
Latent View Analytics: The data analytics solutions provider has registered 32.2 percent on-year growth in net profit at Rs 45.2 crore for the quarter ended March FY24, with healthy topline and operating numbers. Revenue from operations grew by 21.7 percent year over year to Rs 171.6 crore for the quarter.
Delta Corp.: The casino gaming company has reported consolidated net profit of Rs 72.4 crore for the fourth quarter of the financial year 2024, growing 41.4 percent over the corresponding period of the previous fiscal year despite weak topline and operating numbers, driven by an exceptional gain of Rs 49.78 crore. Revenue from operations fell 9 percent YoY to Rs 194.8 crore for the quarter.
Amkay Products: Trading in equity shares of the company will commence on the BSE SME with effect from May 8. The issue price is Rs. 55 per share. The stock will be available in the trade-for-trade segment for 10 trading days.
Ami Organics: The India's Patent Office has granted a process patent to the company for its inventions, A Process For Its Preparation Of Lumateperone Tosylate Intermediate, for 20 years.
Protean eGov Technologies: The company has registered consolidated net profit of Rs 19.3 crore for the March FY24 quarter, falling 39 percent compared to the year-ago period. Revenue from operations fell 4.3 percent year over year to Rs 222.1 crore for the quarter.
Dr Reddy's Laboratories: The pharma company recorded net profit at Rs 1,307 crore for the quarter ended March FY24, growing 36.3 percent over a year-ago period, with other income rising 133 percent YoY to Rs 656 crore. Revenue from operations grew by 12.5 percent year over year to Rs 7,083 crore for the quarter, with global generics business rising 13 percent to Rs 6,119.1 crore. EBITDA rose 14.8 percent year-on-year to Rs 1,872 crore with a margin expansion of 50 bps at 26.4 percent for the March FY24 quarter. Meanwhile, Parag Agarwal will retire as the Chief Financial Officer of the company with effect from July 31, and M. V. Narasimham will be elevated to the role of the Chief Financial Officer of the company with effect from August 1. Currently, MV Narasimham is the deputy chief financial officer of the company.
Navin Fluorine International: The chemicals company has reported net profit at Rs 70.4 crore for the quarter ended March FY24, declining 48.4 percent YoY, with lower topline and weak operating numbers. Revenue from operations fell 13.6 percent year over year to Rs 602 crore in Q4 FY24. The board has recommended a final dividend of Rs. 7 per share.
Pidilite Industries: The adhesive manufacturing company has reported net profit at Rs 304.3 crore for the fourth quarter of the financial year 2024, growing 6.4 percent over the corresponding period of the previous fiscal year, impacted by an exceptional loss of Rs 71.7 crore, with strong operating numbers on lower input costs. Revenue from operations grew by 7.9 percent year over year to Rs 2,901.9 crore for the quarter. The board has recommended a dividend of Rs. 16 per share.
Dixon Technologies: Subsidiary Dixon Electro Appliances has entered into an agreement with Nokia Solutions and Networks OY (Nokia) for the development and manufacturing of telecom products.
Sai Swami Metals and Alloys: The company will make its debut on the BSE SME on May 8. The issue price is Rs. 60 per share. The stock will be available in the trade-for-trade segment for 10 trading days.
Indraprastha Gas: The natural gas distribution company registered net profit of Rs 382.8 crore for the quarter ended March FY24, falling 2.4 percent compared to the previous quarter with muted topline and weak operating numbers. Revenue from operations grew by 1.3 percent sequentially to Rs 3,596.8 crore in Q4 FY24.
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