Indian equity markets ended with decent gains on Friday amid a mixed trend of global and domestic cues. Headline indices ended higher amid concerns over rate cuts, consistent FIIs selling and election led uncertainty. BSE Sensex gained 260.30 points, or 0.36 per cent to settle at 72,664.47. Here are the stocks that may remain under spotlight before the opening bell on Monday, May 11, 2024:
Q4 results today: Varun Beverages, Zomato, Jindal Steel & Power, Tube Investments of India, Aditya Birla Capital, UPL, Sanofi India, Chalet Hotels, Karur Vysya Bank, Inox India, KPI Green Energy, Electrosteel Castings, Bombay Burmah Trading Corporation, CE Info Systems, Ethos, Alembic and Cera Sanitaryware are among the companies that will announce their Q4 earnings today.Indegene: The digital services provider for the biopharma industry will debut on the BSE and NSE today. The IPO was open for bidding between May 06-08 to raise a total of Rs 1,841.76 crore. The issue price has been fixed at Rs 452 per share.
Tata Motors: The Tata Group's auto firm reported a consolidated net profit at Rs 17,407 crore for quarter ended March 31, 2024, surging 222 per cent YoY on the back tax credit of Rs 8,159 crore and strong operating numbers. Revenue from operations grew by 13.3 per cent year-on-year to Rs 1,19,986 crore for the quarter.
ICICI Bank: Bijith Bhaskar has resigned as Head – Cards, Payment Solutions, E-Commerce Ecosystem, Merchant Ecosystem, Consumer Finance of the bank. He was a part of the Senior Management Personnel Group. He will cease to be a senior management personnel of the bank with effect from May 18.
JSW Steel: The metal major reported consolidated crude steel production for April 2024 at 21.21 lakh metric tonnes, which was 0.4 per cent higher YoY, as iron ore availability constraints from Karnataka mines at Vijayanagar impacted production volumes. Capacity utilisation at Indian operations stood at 88 percent for the month.
Eicher Motors: The maker of Royal Enfield bikes reported a standalone net profit at Rs 983.3 crore for March 2024 quarter, rising 32 per cent YoY, backed by strong operating numbers. Revenue from operations grew by 9.4 per cent YoY to Rs 4,192 crore for the quarter.
Lupin: The pharma company re-launched Mirabegron extended-release (ER) tablets 25 mg in the United States after the US Court lifted the temporary restraining order and denied Astellas’ request for a preliminary injunction on Mirabegron ER tablets
Union Bank of India: The public sector lender has registered a 19 per cent Yoy in net profit at Rs 3,311 crore for the March 2024 quarter, with 20 per cent fall provisions. Net interest income grew by 14.4 per cent year-on-year to Rs 9,437 crore for the quarter.
Zydus Lifesciences: The drugmaker has received final approval from the USFDA to market Dexamethasone tablets in the US. Dexamethasone is used to treat conditions such as arthritis, blood/hormone disorders, allergic reactions, skin diseases, eye problems, breathing problems, bowel disorders, cancer and immune system disorders.
Bank of India: The state-run lender has recorded a net profit at Rs 1,438.9 crore for the March 2024 quarter, rising 6.55 per cent YoY, aided by lower provisions. Net interest income rose 7.5 per cent YoY to Rs 5,936 crore for the quarter, while operating profit fell 15 per cent. Asset quality has seen improvement.
Housing & Urban Development Corporation: The PSU firm has signed a Memorandum of Understanding (MoU) with Surat Integrated Transportation Development Corporation (SITCO) for the construction and development of the Surat Multi Modal Transportation Hub (SMMTH). SITCO is a joint venture organisation of the Ministry of Railways through the Rail Land Development Authority, the Government of Gujarat through the GSRTC, and the Surat Municipal Corporation.
Piramal Pharma: The pharma firm has reported net profit of Rs 101 crore for the quarter ended March 31, 2024, surging 102 per cent YoY, thanks to robust operating numbers. Revenue grew by 18 per cent YoY to Rs 2,552 crore for the quarter, driven by healthy growth in CDMO and ICH businesses.
JK Cement: The cement company recorded consolidated net profit of Rs 219.7 crore for the March 2024 quarter, jumping 105 per cent YoY with strong operating numbers and lower power and fuel costs. Revenue from operations advanced 11.8 per cent year-on-year to Rs 3,105.8 crore.