Indian benchmark indices continued to extend its gains on Tuesday amid positive global cues and moderation in India’s CPI numbers. BSE Sensex gained 328.48 points, or 0.45 per cent to settle at 73,104.61. NSE's Nifty50 index ended at 22,217.85, rising 113.80 points or 0.51 per cent for the day. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, May 15, 2024:
Q4 results today: Power Finance Corporation, Mankind Pharma, Jindal Stainless, Dixon Technologies (India), LIC Housing Finance, Honeywell Automation India, NLC India, Trident, Jyothi Labs, Redington, NCC, Titagarh Rail Systems, Asahi India Glass, Clean Science & Technology, Indian Energy Exchange, Granules India and MOIL are among the companies that will announce Q4 results today.
TBO Tek: The trading in equity shares of the travel distribution platform will kick-off on the bourses with effect from May 15. The company raised a total of Rs 1,550.81 crore via IPO by selling its shares for Rs 920 apiece between May 8 and May 10.
Aadhar Housing Finance: The trading in equity shares of the housing finance player will kick-off on the bourses with effect from May 15. The company raised a total of Rs 300 crore via IPO by selling its shares for Rs 3145 per share between May 8 and May 10.
Bharti Airtel: The largest telecom operator reported a 31.1 per cent YoY fall in the consolidated net profit at Rs 2,072 crore for the March 2024 quarter, due to an exceptional loss of Rs 2,455.5 crore. Revenue from operations grew by 4.4 per cent YoY to Rs 37,599 crore and was impacted by currency devaluation in Africa. Consolidated Ebitda rose 4.2 per cent YoY to Rs 19,590 crore.
Infosys: The Bengaluru-based digital services and consulting company has announced a multi-year strategic collaboration with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), to optimize and modernize FAB’s IT infrastructure services.
Mahindra and Mahindra: Mahindra Holdings, its wholly-owned subsidiary, has executed a share purchase agreement with Space Investments, Defati Investments Holdings BV and Infinity Partners, and New Delhi Centre for Sight (NDCFS) and the promoters of NDCFS. As per the agreement, it will sell its entire 30.83 per cent stake in NDCFS for Rs 425.39 crore.
Cipla: The promoter family and Okasa Pharma are likely to sell as much as a 2.53 per cent stake worth Rs 2,637 crore via a block deal, said some media reports. The price at which the Cipla block is expected to happen is between Rs 1,289.50-1,357.35 per share.
Shree Cement: The cement firm's net profit rose 21 per cent YoY to Rs 662 crore in the quarter ended March 31, 2024, with robust growth in operating numbers. Revenue from operations rose by 7 per cent YoY to Rs 5,101 crore, with sales volume increasing 8 per cent to 9.53 million metric tons during the quarter.
Siemens: The infra player registered a 70.2 per cent YoY growth in consolidated net profit at Rs 803 crore for the quarter ended March 2024, with healthy growth in topline as well as operating numbers. Revenue from operations stood at Rs 5,750 crore, up 18.4 per cent YoY. It received new orders worth Rs 5,184 crore.
Colgate Palmolive (India): The oral care firm reported a net profit of Rs 379.8 crore for the March 2024 quarter, rising 20.1 per cent YOY with strong growth in topline as well as operating numbers. Revenue from operations increased by 10.3 per cent YoY to Rs 1,490 crore. The board has declared an interim dividend of Rs 26 per share and a one-time special dividend of Rs 10 apiece.
Apollo Tyres: The tyre manufacturer reported a net profit of Rs 354 crore for the March 2024 quarter, falling 13.7 per cent YoY, impacted by an exceptional loss of Rs 36.8 crore and higher tax costs. Muted topline growth also impacted the bottomline as revenue from operations grew by 0.2 per cent year over year to Rs 6,258 crore for the quarter.
Bharti Hexacom: The recently listed telecommunications services provider clocked a 10.2 per cent YoY growth in net profit at Rs 222.6 crore for the January–March 2024 quarter, with strong operating margin performance. Revenue from operations rose 7.8 per cent YoY to Rs 1,868 crore for the quarter. Ebitda for the quarter increased by 14.6 per cent to Rs 914 crore.