Stocks to Keep an Eye on: Tata Tech, Coforge, Titan, Britannia, Coal India, Bajaj Finance, and Others
Stocks to Monitor on May 3: Strong macrodata and encouraging international indications helped local markets bounce back on Thursday. Due to a number of news events, shares of Coal India, YES Bank, Coforge, Tata Technologies, Bajaj Finance, and Adani Green, among others, will be the subject of attention in today’s trading.
The following companies will release their Q4FY24 results on Friday, May 3, 2024: Titan, Britannia Industries, Adani Green Energy, Godrej Properties, MRF, Carborundum Universal, Inox Wind, Aptus Value Housing Finance, First Source Solutions, Raymond, Go Fashion India, Aarti Drugs, Tatva Chintan Pharma Chemical, and HFCL.
Dabur: The company’s net profit for the March quarter improved by 16.5% year over year (Y-o-Y) to Rs 341 crore, while sales increased by 5% to Rs 2,814.6 crore. For that quarter, its organic domestic volume increased by 4.2%.
Ceat: The tire manufacturer’s Q4FY24 consolidated net profit decreased 22.76 percent year over year to Rs 102.27 crore, while sales increased by 4% year over year to Rs 2,991.85 crore.
Coal India: At Rs 8,682 crore, Coal India recorded a year-over-Y increase in consolidated net profit of 26%. However, operating revenue decreased by 2% to Rs 37,410 crore.
Adani Enterprises: The flagship business of the Adani Group had a 38% YoY decline in net profit in Q4 FY24 to Rs 451 crore due to unusual expenses. Additionally, its operating revenue increased by 1% to Rs 29,180 crore.
As part of its continuing investigation of Hindenburg’s report, the business got two show cause warnings from the Securities and Exchange Board of India (Sebi), the market regulator stated in a statement.
Ajanta Pharma: The pharmaceutical business has revealed plans to repurchase 1.03 million equity shares, or 0.82 percent of all of the company’s outstanding shares.
Zydus Lifesciences: To gain complete control, Bayer Pharmaceuticals Pvt. Ltd. purchased the last 25% of Bayer Zydus Pharma. The amount sold was Rs 282 crore.
Coforge: At a price of Rs 1,415 per share, the IT business plans to acquire up to a 54% interest in Cigniti Technologies.
Jubilant Pharmova: The nomination of Harsher Singh as CEO of the radiopharma business has been authorized by the firm. Prior to this, Harsher was employed at Amneal Pharmaceuticals. Pramod Yadav, the CEO of Jubilant Radiopharma, announced his retirement concurrently with the firm. This year, Pramod will serve as an advisor until June 30.
Indian Energy Exchange: In April 2024, the exchange’s total volume of 9,044 million units (MU) increased by 14.1 percent compared to the same month the previous year. During the month, the day-ahead market’s market clearing price, which was Rs 5.1 per unit, dropped by around 6% on an annual basis. April saw the real-time electricity market (RTM) rise 22.1 percent YoY to 2,629 MU, continuing on its current growth trend.
Wipro: For the forthcoming open enrollment season, Independent Health, the Medicare Advantage Plan for Western New York, has chosen Wipro to build its Medicare Prescription Payment Plan platform. Medicare beneficiaries in Western New York will find it easier to control their prescription costs thanks to the platform, which will assist Independent Health in streamlining the payment procedure to smoothly include these new options.
