Stocks in news: Apollo Tyres, Paytm, BHEL, Sun Pharma, Grasim, Ircon and PI Industries

Indian headline indices settled little changes, on a mixed note, in Tuesday's trade followed muted global cues. BSE Sensex shed 52.63 points, or 0.07 per cent to settle at 73,953.31. NSE's Nifty50 index rose 27.05 points, or 0.12 per cent, to end the session at 22,529.05. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, May 22, 2024:
 

Q4 results today: Sun Pharmaceutical Industries, Power Grid Corporation of India, Grasim Industries, Max Healthcare Institute, Indian Bank, Torrent Power, FSN E-Commerce Ventures, Petronet LNG, The New India Assurance Company, Jubilant Foodworks, Metro Brands, Gland Pharma, Sundaram Fasteners and One97 Communications are among the company that will announce their quarterly results today.
 

Bharat Heavy Electricals: The state-owned electrical equipment player reported a 25 per cent decline in net profit at Rs 484.36 crore for the quarter ended March 31, 2024 amid higher expenses by the company. The PSU firm's revenue from operations rose marginally to Rs 8,260.25 crore in Q4FY24.
 

Apollo Tyres: Warburg Pincus' arm White Iris Investment arm is likely to sell a 3.5 per cent stake, roughly about 2.24 crore shares,  in the tyre maker for Rs 1,040 crore on May 22 through, suggested some media reports.
 

United Spirits: The Water Resources Department has issued a notice to the brewery firm, demanding payment of water charge arrears totaling Rs 345.45 crore for the period spanning from November 2018 to April 2024 in Nanded, Maharashtra. The notice, issued under section 49(j) of the Maharashtra Irrigation Act, 1976, mandates payment within 7 days of receipt.
 

Ircon International: State-run railways company reported a 3.8 per cent year-on-year (YoY) decline in net profit at Rs 246.8 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations fell 1 per cent to Rs 3,742.7 crore. The board has recommended a final dividend of Rs 1.30 per equity share.
 

JK Tyre and Industries: The tyre maker posted 56 per cent rise in consolidated net profit on sustained demand for the fourth-quarter at Rs 169.33 crore. The firm’s revenue from operations rose 1.8 per cent to Rs 3,698.45 crore. The company also announced a final dividend of Rs 3.50 per equity share for FY24.
 

PI Industries: The agro-chemicals maker reported a 31.7 per cent YoY jump in net profit at Rs 369.5 crore for the fourth quarter that ended March 31, 2024.  Its revenue from operations increased 11.2 per cent to Rs 1,741 crore. The board has recommended a final dividend at the rate of Rs 9 per share.
 

Indoco Remedies: The pharma firm has received final approval from the USFDA for an abbreviated new drug application (ANDA) for Pregabalin capsules. This approval pertains to a generic equivalent of the Reference Listed Drug, Lyrica capsules, of Upjohn US 2 LLC.
 

Ramco Systems: The global payroll software provider reported a net loss of Rs 23 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 4 per cent to Rs 131.2 crore. The company has signed $11 million plus deals and Q4 witnessed the addition of a record multi-million-dollar deal.
 

PNC Infratech: The infrastructure company has been declared as the lowest bidder for two EPC road projects of MSRDC (Maharashtra State Road Development Corporation), with a quoted price of Rs 4,994 crore.
 

Biocon: The biopharma firm's subsidiary, Biocon Biologics, has obtained approval from the USFDA for the first-to-file application for Yesafili, an interchangeable biosimilar aflibercept. Yesafili, a vascular endothelial growth factor (VEGF) inhibitor, is utilized in the treatment of various ophthalmology conditions.
 

GR Infraprojects: The road and highway player has emerged as the L1 bidder for two road projects worth Rs 4,346.14 crore of Maharashtra State Road Development Corporation.