Indian benchmark indices ended Saturday's special trading session with mild gains as the benchmark indices remained range-bound amid a dull trading session. BSE Sensex rose 88.91 points, or 0.12 per cent to settle at 74,005.94. NSE's Nifty50 index gained 35.60 points, or 0.16 per cent, to end the session at 22,502. Here are the stocks that may remain under spotlight before the opening bell on Tuesday, May 21, 2024:
Q4 results today: Bharat Heavy Electricals, NMDC, PI Industries, Hitachi Energy India, GE T&D India, Ircon International, NMDC Steel, Action Construction Equipment, Godawari Power & Ispat, Eris Lifesciences, Maharashtra Seamless, Aether Industries, JK Tyre & Industries, Sheela Foam and Craftsman Automation are among the companies that will announced their results for the March 2024 quarter today.
ONCG: The state-owned oil and gas exploration major reported a 78 per cent YoY jump in its consolidated net profit at Rs 11,526.53 crore in the quarter ending March 31, 2024, compared to Rs 6,478.23 crore in the same period last year. Its revenue from operations rose to Rs 1.66 lakh crore for the quarter. The company’s board of directors has recommended a final dividend of Rs 2.50 per equity share.
GAIL: India's largest natural gas company posted a 260 percent jump in its March quarter standalone net profit at Rs 2,177 crore. However, on a sequential basis, the firm's net profit fell 23 percent from ₹2,842.62 crore. The company's total income declined marginally 2.6 per cent YoY to Rs 32,317 crore, while dropping 5 per cent QoQ. EBITDA also decreased by 7 per cent QoQ to Rs 3,559 crore.
Indus Towers: The telecommunication infra player may see a block deal by a foreign institutional investor (FII) shareholder, which is likely to sell a stake worth Rs 270 crore, suggest some media reports. The block deal is expected to involve 80 lakh shares for a deal size of Rs 270 crore.
Steel Authority of India: The state-run metal player reported a 2 per cent fall in consolidated net profit to Rs 1,126.68 crore during the March quarter on the back of higher raw material prices. SAIL's revenue from operations also fell to Rs 27,958.52 crore in the March quarter. The board of the company has also approved a final dividend of Re 1 for FY24.
Lupin: The USFDA has concluded a pre-approval inspection at pharma firms's Somerset, New Jersey manufacturing facility. The inspection was conducted during May 7 and May 17, 2024, and closed with an issuance of a Form-483 with six observations.
Bharat Electronics: The state-owned player reported a jump of 30 per cent YoY in its consolidated net profit at Rs 1,797 crore for the quarter ended 31 March, 2024. Its revenue from operations increased 32 per cent to Rs 8,564 crore.The board has recommended a final dividend of Rs 0.80 per share for the financial year 2023-24.
India Cements: The cement player reported a narrowing of consolidated net loss to Rs 50.06 crore in the fourth quarter ended March 31, 2024, helped by improved sales volume, from a net loss of Rs 243.77 crore a year ago. Its consolidated revenue from operations in the quarter under review came in at Rs 1,266.65 crore as against Rs 1,485.73 crore in the yead ago period.
Patanjali Foods: Baba Ramdev's FMCG and edible oil player has issued a clarification note on media reports related to unsafe Patanjali Soan Papdi, saying food business came into the fold of Patanjali Foods in July 2022 only and hence the company has no connection with this matter.
Ujjivan Small Finance Bank: The private lender reported a 6.5 per cent YoY rise in the net profit at Rs 329.6 crore in the January-March 2024 quarter, compared to Rs 309.5 crore in the corresponding period last year. Its net interest income (NII) increased 26.4 per cent to Rs 933 crore, compared to Rs 738 crore in the year-ago period.
Radico Khaitan: The liquor maker sold 6.3 million cases of its flagship brand, Magic Moments Vodka in FY24, amounting to sales worth Rs 1,000 crore. This was significantly higher compared to the previous fiscal year's sales of 5.2 million cases.
Rail Vikas Nigam: The state-run railway player has received a Letter of Acceptance for a project worth Rs 148.3 crore from SER HQELECTRICAL/South Eastern Railway. undertake the design, supply, erection, testing, and commissioning for the upgradation of the electric traction system in the Kharagpur division of South Eastern Railway to meet the 3000 MT loading target.