Stock to Watch Today - Rupeedesk Reports - 09.05.2024
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: L&T, Tata Power, Wipro, BSE, HDFC Life Insurance Company, RVNL, Bank of Baroda, NTPC and others in news.
Larsen and Toubro: The infrastructure major has recorded net profit at Rs 4,396 crore for the quarter ended March FY24, growing 10 percent over the year-ago period with a healthy topline, but the operating margin was weak. Revenue from operations increased by 15 percent year over year to Rs 67,079 crore for the quarter. The board has recommended a final dividend of Rs 28 per share. The order inflow during the quarter fell by 5 percent year-on-year to Rs 72,150 crore, with the order book of the group as of March 2024 at Rs 4,75,809 crore, which grew by 20 percent YoY.
Tata Power Company: The Tata Group company has reported a consolidated net profit of Rs 895.2 crore for the March FY24 quarter, growing 15.1 percent over the corresponding period of the previous fiscal year despite a lower operating margin impacted by the cost of fuel. Revenue from operations jumped 27.2 percent year over year to Rs 15,846.6 crore for the quarter.
TVS Motor Company: The two-and-three-wheeler maker has recorded a standalone net profit of Rs 485.4 crore for the March FY24 quarter, rising 18.3 percent over the same period in the previous fiscal year, with healthy topline and operating numbers. Revenue from operations grew by 23.7 percent YoY to Rs 8,168.8 crore, with total sales volume up 22.4 percent at 10.63 lakh units during the quarter.
HDFC Life Insurance Company: The Insurance Regulatory and Development Authority of India (IRDAI) has given its approval for the appointment of Keki Mistry as chairman of the board of the company. On April 18, this year, the board appointed Keki M. Mistry as the chairman.
BSE: The exchange has recorded consolidated net profit at Rs 106.9 crore for the January-March quarter of FY24, rising 20.6 percent over the corresponding period of the previous fiscal with healthy topline growth but impacted by the provision of Rs 169.77 crore for the SEBI regulatory fee. Revenue from operations grew by 110.4 percent year over year to Rs 544.8 crore for the quarter. The board has recommended a final dividend of Rs. 15 per share.
Wipro: The technology services and consulting company, has announced a collaboration with Kognitos Inc. to deploy enterprise-ready GenAI-based business automation solutions. In addition, Wipro Ventures, Wipro’s corporate investment arm, invested in Kognitos as part of the firm’s Series A funding round.
Results on May 9: HPCL, SBI, Rain Industries, Abbott India, Escorts Kubota, BPCL, Asian Paints, Vardhman Textiles, Alkyl Amines Chemicals, Timken India, Relaxo Footwears, Indian Overseas Bank, Punjab National Bank, Mahanagar Gas, Computer Age Management Services, Alembic Pharmaceuticals, Quess Corp Intellect Design Arena, Orient Electric will release January-March quarter earnings on May 9.
Gujarat State Petronet: The natural gas distribution company has recorded a consolidated net profit of Rs 663.1 crore for the January-March quarter of the financial year 2024, growing 22.2 percent over the year-ago period, partly driven by exceptional gains and healthy operating numbers. Revenue from operations increased by 6 percent year over year to Rs 4,532.2 crore for the quarter.
Rail Vikas Nigam: The railway company has received a Letter of Acceptance from SER HQ-Electrical/South Eastern Railway for a project worth Rs 167.3 crore. The company will do design, supply, erection, testing, and commissioning for the upgrade of the electric traction system for the Rajkharsawan-Nayagarh-Bolani section of the Chakradharpur division of South Eastern Railway to meet the 3000 MT loading target.
NTPC: Subsidiary NTPC Green Energy signed a Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology for the development of renewable energy power parks and projects.
Piramal Enterprises: The company has reported a consolidated net profit of Rs 137.1 crore for the quarter ended March FY24, against a loss of Rs 195.9 crore in the same period of the previous fiscal. Revenue from operations during the quarter increased by 16 percent year-on-year to Rs 2,473.3 crore. Meanwhile, its subsidiary Piramal Alternatives Trust acquired a 9.85 percent stake in Annapurna Finance for Rs 300 crore and also completed a subscription to Annapurna Finance's optionally convertible debentures amounting to Rs 300 crore.
NBCC: The state-owned construction company has secured work orders worth Rs 250 crore and 150 crore in Chhattisgarh and Kerala, respectively.
Bajaj Consumer Care: The company has registered a 12 percent on-year decline in net profit at Rs 35.6 crore for the quarter ended March FY24, with lower topline and weak operating numbers. Revenue from operations fell 3.8 percent year-on-year to Rs 240 crore for the quarter. Meanwhile, the board has given its approval for a share buyback of up to Rs 166.49 crore for Rs 290 per share.
Home First Finance Company: The affordable housing finance company has reported a net profit of Rs 83.5 crore for the quarter ended March FY24, rising 30.4 percent over the corresponding period of the previous fiscal. Net interest income increased by 22.4 percent on-year to Rs 136.8 crore, and revenue from operations grew by 38 percent YoY to Rs 3,127.6 crore for the quarter.
Bank of Baroda: The Reserve Bank of India has lifted the restrictions on Bob World with immediate effect. Hence, the bank will now resume onboarding new customers into the Bob World application. In October 2023, the RBI directed the Bank of Baroda to suspend any further onboarding of customers onto its 'Bob World' mobile application based on certain supervisory concerns.
Godrej Agrovet: The agri-business company has recorded consolidated net profit at Rs 65.5 crore for the quarter ended March FY24, increasing sharply by 179 percent over a year-ago period despite muted topline growth, driven by strong operating numbers due to falling input costs. Revenue from operations grew by 1.9 percent year-on-year to Rs 2,134.3 crore in the fourth quarter of the financial year 2024. The board has recommended a final dividend of Rs 10 per share.
ESAF Small Finance Bank: The bank has registered a 57.2 percent on-year decline in profit at Rs 43.4 crore for the quarter ended March FY24, impacted by significantly higher provisions. Net interest income grew by 18.4 percent year-on-year to Rs 591 crore for the quarter. Asset quality weakened as gross NPA rose 60 basis points QoQ to 4.76 percent and net NPA increased by 7 basis points to 2.26 percent in Q4 FY24.
Sula Vineyards: The leading wine producer has registered a net profit of Rs 13.6 crore for the fourth quarter of the financial year 2024, falling 4.2 percent compared to the same period of the previous fiscal year, impacted by a weak operating margin. Revenue from operations grew by 12.1 percent year over year to Rs 135.6 crore for the quarter. The board has recommended a final dividend of Rs. 4.50 per share.
Kirloskar Oil Engines: The Pune-based company has registered 86 percent on-year growth in net profit at Rs 146.8 crore for the quarter ended March FY24, with robust operating numbers. Revenue from operations grew by 20 percent year-on-year to Rs 1,660 crore for the quarter. Meanwhile, the company has appointed Sachin Kejriwal as Chief Financial Officer, with effect from May 9.
SKF India: The bearings, seals, and lubrication systems supplier has recorded a consolidated net profit of Rs 175.2 crore for the March FY24 quarter, rising 42.5 percent over the year-ago period, with healthy operating numbers. Revenue from operations grew by 10 percent year-on-year to Rs 1,203.4 crore for the fourth quarter of the financial year 2024.
Automobile Corporation of Goa: The company has reported a net profit of Rs 10.91 crore for the March FY24 quarter, rising sharply by 41.2 percent over the corresponding period of the previous fiscal. Revenue from operations during the quarter grew by 23.3 percent year-over-year to Rs 169.4 crore.
Navneet Education: Subsidiary Navneet Learning LLP has entered into a definitive agreement with Venturi Partners to divest a partial stake of 5.12 percent in K12 Techno Services for Rs 225.18 crore.
Navneet Education: Subsidiary Navneet Learning LLP has entered into a definitive agreement with Venturi Partners to divest a partial stake of 5.12 percent in K12 Techno Services for Rs 225.18 crore.
Chennai Petroleum Corporation: Foreign portfolio investor Polunin Emerging Markets Small Cap Fund LLC sold 7,87,520 equity shares (equivalent to 0.5 percent of paid-up equity) of the company at an average price of Rs 887.16 per share. As of March 2024, Polunin had held 16.63 lakh shares or a 1.12 percent stake in the company.
Juniper Hotels: The company has entered into a secured term loan and working capital facility agreement for Rs 491 crore with ICICI Bank. This agreement includes Rs. 416 crore for refinancing the existing loan from JP Securities Asia. The remaining amount will be used for general working capital requirements.
WPIL: The company said the board of directors will consider the sub-division or split of equity shares of the company along with March FY24 quarter earnings on May 25.
Nucleus Software Exports: The board has appointed Surya Prakash Kanodia as Chief Financial Officer (CFO) of the company, with effect from May 8 this year. Anurag Mantri will be relieved of his additional responsibility as CFO and will continue with his current position as Executive Director and Chief Operating Officer of Nucleus.
Maxposure: The company has signed a contract with Kenya Airways, a member of the Sky Team Alliance, for the installation of AeroHub PRO (an aircraft-powered wireless in-flight entertainment solution) on Kenya Airways' Boeing 737-800 fleet.
Kalpataru Projects International: The infrastructure EPC company has reported a net profit of Rs 169 crore for the quarter ended March FY24, increasing by 21 percent over the year-ago period, with strong topline and operating numbers. Revenue from operations grew by 22.3 percent year over year to Rs 5,971 crore for the quarter, driven by healthy project execution. EBITDA for the quarter increased by 36 percent to Rs 452 crore compared to the same period of the previous fiscal.
Vijaya Diagnostic Centre: The diagnostic chain has recorded a consolidated net profit of Rs 33.7 crore for the fourth quarter of the financial year 2024, growing 21.7 percent over the year-ago period. Revenue from operations increased by 28.3 percent year over year to Rs 155.2 crore for the quarter.
Fedbank Financial Services: The board of directors has approved the re-appointment of Shardul Kadam as Chief Risk Officer for 3 years, with effect from May 12 this year.
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