Domestic benchmark indices hit new all-time highs on Friday but ended marginally changed amid mixed global cues on rate cuts by the US Fed. BSE Sensex shed merely 7.65 points, or 0.01 per cent to settle at 75,410.39. NSE's Nifty50 index declined 10.55 points, or 0.05 per cent, to end the session at 22,957.10. Here are the stocks that may remain under spotlight before the opening bell on Monday, May 27, 2024:
Q4 results today: Life Insurance Corporation of India, NMDC, National Aluminium Company, Sumitomo Chemical India, Elgi Equipments, NMDC Steel, Natco Pharma, Lakshmi Machine Works, AstraZeneca Pharma India, HBL Power Systems, Juniper Hotels, Gujarat Mineral Development Corporation, Electronics Mart India, TVS Supply Chain Solutions and MSTC are among the companies that will announce their Q4 results today.
NTPC: The state-run power generator reported a consolidated net profit of Rs 6,490.05 crore for the fourth quarter of 2023-24, up 33 per cent YoY. Revenue from operations in the March quarter was Rs 47,622.06 crore, rising 7.6 per cent YoY. The company’s board of directors recommended a final dividend of Rs 3.25 per equity share for the financial year 2023-24.
Tata Steel: The Calcutta High Court has dismissed the writ petition filed by the Tata Group firm, with a liberty to the company, to approach the Joint Plant Committee. It will seek further legal remedies in the matter. On April 2, 2024, it had filed writ petition in the court in the matter of rejection of a representation made by the company in respect of waiver of loans availed from the Steel Development Fund.
Divi's Laboratories: The bluechip pharma maker's consolidated net profit in the quarter ended March 2024 jumped 68 per cent YoY to Rs 538 crore. The Hyderabad-based pharmaceutical major's revenue from operations climbed 18 per cent YoY to Rs 2,303 crore in Q4FY24. The company's board of directors declared a final dividend of Rs 30 per equity share.
Hero MotoCorp: The largest two-wheeler maker had filed rectification applications with respect to the reassessment orders of March 30, 2024, pertaining to six assessment years: 2013-14 to 2017-18 and 2019-20. The company has received the rectification orders for the said assessment years, resulting in the reduction of the original demand from Rs 604.87 crore to Rs 177.96 crore.
Aurobindo Pharma: The USFDA conducted an inspection at Unit III, a formulation manufacturing facility of the company's subsidiary, Eugia Pharma Specialities, at Pashamylaram, Telangana, from January 22 to February 2 this year. Subsequently, the USFDA has determined the inspection classification status of this facility as Official Action Indicated (OAI).
United Spirits: The Diageo-controlled liquor maker reported a standalone net profit of Rs 384 crore in the fourth quarter ended March 2024, up 88 per cent YoY. The revenue from operations increased 10 per cent YoY to Rs 6,394 crore. Ebitda for Q4FY24 was up 7 per cent to Rs 361 crore.
Glenmark Pharmaceuticals: The pharma player reported widening of consolidated net loss to Rs 1,238.6 crore for the March quarter from a net loss of Rs 549.4 crore in the same period a year ago. Its revenue from operations rose 2 per cent YoY to Rs 3,063 crore. Ebitda increased 26.7 per cent YoY to Rs 504.2 crore, while Ebitda margins expanded to 16.5 per cent.
Torrent Pharmaceuticals: The drug maker reported 57 per cent YoY rise in its consolidated net profit for March quarter at Rs 449 crore. Its revenue grew by 10 per cent to Rs 2,745 crore YoY. The pharma firm's ebitda increased 21 per cent Yoy to Rs 883 crore. It recommended to the members a final dividend of Rs 6 per equity share of Rs 5 each.
Karnataka Bank: The Private sector lender's net profit for the March quarter fell 23 per cent YoY at Rs 274 crore, while its operating profit for the quarter also dropped 27 per cent lower at Rs 500 crore against Rs 686 crore. Its net interest margin, a key profitability metric, fell 57 basis points to 3.3 per cent for the quarter. Net interest income was 3% lower at Rs 834 crore.
Rail Vikas Nigam: The state-run railway company has emerged as the lowest bidder (L1) for a project worth Rs 187.34 crore from Maharashtra Metro Rail Corporation (Nagpur Metro). The project involves the construction of six elevated metro stations in Phase II.
Easy Trip Planner: The online travel platform's co-founder and chief executive officer (CEO) Nishant Pitti announced the withdrawal of his personal bid from the GoAir acquisition process. Nishant stated that he would better focus on other strategic priorities and initiatives that align with the company's long-term vision and growth objectives.
DOMS Industries: The stationary player reported a net profit of Rs 46.93 crore in the March 2024 quarter, up 29.55 per cent YoY. Its revenue from operations grew 20 per cent to Rs 403.7 crore. Ebitda for the quarter 22.6 per cent YoY to Rs 75.93 crore, while ebitda margin expanded 40 basis points to 18.8 per cent for the period.