Domestic equity market settled lower for another session, thanks to volatility triggered by the profit booking in the second half of the session ahead of election results next week. BSE Sensex retreated 220.05 points, or 0.29 per cent to settle at 75,170.45. NSE's Nifty50 index fell 44.30 points, or 0.19 per cent, to end the session at 22,888.15. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, May 29, 2024:
Q4 results today: Tata Steel, Cummins India, Samvardhana Motherson International,, Alkem Laboratories, Mazagon Dock Shipbuilders, SJVN, GMR Airports Infrastructure, Ipca Laboratories, KIOCL, Emami, Bata India, GR Infraprojects, Aadhar Housing Finance, RHI Magnesita, Indegene, Jubilant Pharmova, Redtape, Lemon Tree Hotels, Genus Power Infrastructures Ltd.and others will announce their earnings for the March 2024 quarter.
Reliance Industries: The operator of the world’s biggest refining complex, has signed a one-year deal with Russia’s Rosneft to buy at least 3 million barrels of oil a month in roubles, four sources aware of the matter told Reuters.
Hindalco Industries: Aditya Birla Group firm's subsidiary Novelis Inc has filed for an IPO in the US, offering 45 million shares in a price band of $18-21 per share. The company plans to raise $945 million at the upper end of the price band, targeting a valuation of up to $12.6 billion. Novelis has applied to list its common shares on the New York Stock Exchange under the ticker ‘NVL’.
IRCTC: The state-run railway firm reported a consolidated profit after tax of Rs 284 crore, up 1.8 per cent YoY. The consolidated revenue from operations for the reported quarter stood at Rs 1,155 crore, up 20 per cent YoY. The company also announced a final dividend of Rs 4 per share for the financial year 2023-24.
Aditya Birla Fashion and Retail: The fashion retailer reported widening of its consolidated net loss of Rs 266.35 crore for the fourth quarter ended March 2024. Its revenue from operations was at Rs 3,406.65 during the quarter under review against Rs 2,879.73 crore in the year-ago period.
Amara Raja Energy & Mobility: The Indian battery maker posted a rise in quarterly profit on Tuesday, helped by strong demand for its batteries from the automobile companies. Its standalone net profit rose nearly 62 per cent to Rs 228 crore, while Revenue grew nearly 15 per cent YoY to Rs 2,797 crore.
Canara Bank: The state owned PSU bank announced that a meeting of the Board of Directors is scheduled to be held on May 31 to consider the capital raising plan for the financial year 2024-25.
Aster DM Healthcare: The hospital chain reported a net loss of Rs 24 crore in the March 2024 quarter, against a net profit of Rs 170.8 crore in the year ago period. Revenue from operations grew 20.65 per cent YoY to Rs 973.6 crore, while Ebitda jumped 28.5 per cent to Rs 159.3 crore and margins expanded 100 bps to 16.4 per cent.
Gujarat Narmada Valley Fertilisers & Chemicals: The state-run chemical player reported a 61.3 per cent YoY)decline in net profit at Rs 130 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations dipped 7.1 per cent YoY to Rs 2,110 crore, while Ebitda tanked 60.7 per cent YoY to Rs 145 crore.
Wockhardt: The drug firm reported a consolidated net loss of Rs 177 crore for the fourth quarter ended March 31, 2024. The company had reported a net loss of Rs 237 crore in the January-March quarter of 2022-23. Revenue from operations stood at Rs 700 crore for the period under, rising 3.2 per cent YoY.
NBCC (India): The state-owned construction firm reported a 24.6 per cent YoY increase in net profit at Rs 141.5 crore for the fourth quarter that ended March 31, 2024. Revenue from operations jumped 43 per cent YoY to Rs 4,025 crore. The board of directors has recommended a final dividend of Rs 0.63 per share, subject to approval.
Engineers India: The PSU firm reported a 39.3 per cent fall YoY in its consolidated net profit at Rs 115.5 crore in the quarter ended on March 31, 2024. The company's revenue dropped 8.5 per cent to Rs 805.1 crore for the quarter. The company board also recommended a dividend of Re 1 each, subject to approvals.