Stocks in news: Awfis Space, Tata Steel, RVNL, Apollo Hospitals, Cummins, SJVN and GMR Infra

Domestic equity markets settled sharply lower on the back of weak global cues amid the waning hopes of the rate cuts by the US Fed. BSE Sensex tumbled 667.55 points, or 0.89 per cent to settle at 74,502.90. NSE's Nifty50 index tanked 183.45 points, or 0.80 per cent, to end the session at 22,704.70. Here are the stocks that may remain under spotlight before the opening bell on Thursday, May 29, 2024:
 

Q4 results today: Apollo Hospitals Enterprises, Muthoot Finance, Bharat Dynamics, Godfrey Phillips India, Swan Energy, Suven Pharmaceuticals, Welspun Corp, TBO Tek, Authum Investments & Infrastructure, Praj Industries, Marksans Pharma, Sunteck Realty, Mrs Bectors Food Specialities, PTC Industries, Lux Industries, JTEKT India, Gujarat Alkalies & Chemicals and more will announce their March 2024 quarter results later today.
 

Awfis Space Solutions: The Ashish Kacholia-backed workspace solution provider will make its Dalal Street debut on Thursday, May 30. The IPO was open for bidding between May 22-27 which was sold between Rs 364-383 per share with a lot size of 39 shares to raise a total of Rs 598.93 crore.
 

Banks: S&P Global Ratings revised its rating outlook on six Indian banks namely- State Bank of India, HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra Bank, and Indian Bank- to Positive from Stable. S&P affirmed 'BBB-' long-term and A-3 short-term ratings on these banks and upgraded the SACP of Axis Bank and ICICI Bank by one notch each.
 

Tata Steel: The Tata Group's steel major reported a 64 per cent YoY fall in its consolidated net profit to Rs 611 crore, pressured by lower steel prices and as the company deals with restructuring costs related to its loss-making UK business. The revenue from operations fell 4 per cent to Rs 58,687 crore. The country's second biggest steel maker will be raising Rs 30 crore through issue of debt securities.
 

Cummins India: The diesel and natural gas engine maker posted a 50 per cent YoY rise in consolidated profit after tax at Rs 530.5 for the March quarter, supported by robust demand in domestic and international markets. Its revenue came in at Rs 2,319 crore, up 19.9 per cent YoY. The company board approved an interim dividend of Rs 20 for the financial year 2023-24.
 

GMR Airports Infrastructure: The airport operator reported a contraction of net loss to Rs 167.6 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 29.5 per cent YoY to Rs 2,446.8 crore Ebitda stood at Rs 816 crore, while Ebitda margin stood at 33.4 per cent in the reporting quarter.
 

KFin Technologies: Global private equity firm General Atlantic Singapore Fund is likely to sell a 4.1 per cent stake in tech-driven financial services firm with the potential to increase this to 6.8 per cent. The base issue size is set at Rs 500 crore and can be upsized to Rs 833.3 crore. The shares will be sold at a floor price of Rs 712.5 each, a 4.2 per cent discount to the current price.
 

Bata India: The footwear reported a consolidated net profit of Rs 63.64 crore for the March quarter, a decline of 2.98 per cent from the same quarter of the previous financial year. Its revenue came in at Rs 797.8 crore, rising 2.47 per cent. The Board has recommended a dividend of Rs 12 for the financial year ending March 31, 2024.
 

Aditya Birla Capital: The Aditya Birla Group firm has invested Rs 300 crore on a rights basis in the equity shares of Aditya Birla Housing Finance, maintaining its percentage shareholding, with ABHFL remaining a wholly-owned subsidiary.
 

RR Kabel: US-based private equity firm TPG Asia VII SF is likely to sell its entire 5 per cent stake in wire and cable manufacturer via block deals. TPG looks to sell 56.33 lakh shares worth Rs 1,000 crore in the company, which is likely at a 4-5 per cent discount.
 

GR Infraprojects: The infrastructure company reported a 42.1 per cent YoY jump in net profit at Rs 553.1 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 1 per cent to Rs 2,485.1 crore. Ebitda rose 19.4 per cent to Rs 540.3 crore in the fourth quarter, Ebitda margin stood at 21.7 per cent in the reporting quarter.
 

SJVN: The state-run hydropower generating company reported a two-fold jump in consolidated profit to Rs 61.08 crore during the March quarter, on account of exceptional gains. Revenue for the period fell 4.1 per cent to Rs 482.9 crore. The board of directors also approved a final dividend of Rs 0.65 per equity share for the 2023-24 fiscal year
 

Rail Vikas Nigam: The railway company has received a Letter of Acceptance from South East Central Railway for a project worth Rs 38.10 crore, involving the provision of auto signalling with electronic interlocking in the Champa-Sakti section of Bilaspur division.
 

CESC: A fire incident occurred at Unit-1 Generator Transformer in Haldia, West Bengal, owned by Haldia Energy (a wholly-owned subsidiary of CESC), causing partial disruption in plant operation. The fire has subsided, and the cause and extent of damage are being assessed. The plant has insurance coverage.