Stocks To Watch On May 21: Equity markets closed higher on Saturday as buying in index majors helped the indices rebound from early lows. In today’s trade, shares of Godrej Properties, Whirlpool, Solara Active Pharma, TCS, and Nestle India among others will be in focus due to various news developments and quarterly earnings.
TCS: N Ganapathy Subramaniam ceases to be COO & ED of Tata Consultancy Services. His term ended on May 19.
ONGC: Oil and Natural Gas Corporation (ONGC) consolidated net profit rose 78 per cent for the fourth quarter of the fiscal year 2023-24 to Rs 11,526.53 crore compared to Rs 6,478.23 crore in the corresponding period last year. The state-owned oil and gas exploration giant reported a marginal rise in revenue from operations for the fourth quarter of the current fiscal year to Rs 1.66 lakh crore, compared to Rs 1.64 lakh crore in the same period of the previous year. The board of directors has proposed a final dividend of Rs 2.50 per equity share with a face value of Rs 5 each for the financial year 2023-24, subject to shareholders approval.
SAIL: In the fourth quarter of the financial year, Steel Authority of India (SAIL) witnessed a 2.9 per cent decrease in consolidated profit to Rs 1,126 crore compared to Rs 1,159.2 crore in the same period last year. The company’s revenue declined 4 per cent to Rs 27,958.5 crore versus Rs 29,130.66 crore previously. The company said that there was an exceptional loss of Rs 502.34 crore, contrasting with a loss of Rs 40.42 crore in the corresponding period.
Anupam Rasayan: The company’s profit plunged 45.6 per cent to Rs 31 crore compared to Rs 57 crore year-on-year (Y-o-Y). Revenue also experienced a downturn of 16.5 per cent to Rs 401 crore as opposed to Rs 480 crore year-on-year (Y-o-Y). The company’s Ebitda dropped 21.4 per cent to Rs 92 crore from Rs 117 crore Y-o-Y. Furthermore, the margin stood at 23 per cent, down from 24.4 per cent Y-o-Y.
Trident: Trident’s net profit declined 54.8 per cent to Rs 59 crore compared to Rs 130.6 crore year-on-year (Y-o-Y). Despite this, revenue showed a positive trajectory, rising by 7 per cent to Rs 1,682 crore from Rs 1,573 crore Y-o-Y. However, the company’s Ebitda witnessed a decrease of 23.5 per cent, amounting to Rs 205 crore versus Rs 268 crore Y-o-Y. Moreover, the margin stood at 12.2 per cent, down from 17 per cent Y-o-Y.
Ujjivan Small Finance Bank: Ujjivan Small Finance Bank (Ujjivan SFB) profit soared 6.5 per cent to Rs 329.6 crore compared to Rs 309.5 crore year-on-year (Y-o-Y). Additionally, the Net Interest Income (NII) surged by 26.4 per cent to Rs 933 crore from Rs 738 crore Y-o-Y. In terms of asset quality, the bank observed a slight increase in Gross NPA to 2.23 per cent from 2.18 per cent quarter-on-quarter (Q-o-Q). Meanwhile, the Net NPA rose to 0.28 per cent from 0.17 per cent Q-o-Q. In absolute figures, Gross NPA amounted to Rs 612.5 crore, up from Rs 570.7 crore Q-o-Q, and Net NPA stood at Rs 76.3 crore compared to Rs 42.8 crore during Q-o-Q.
Lupin: The United States Food and Drug Administration (US FDA) inspected the company’s Somerset manufacturing facility. The US FDA issued a Form-483 with six observations. The company has assured that it is actively addressing these observations and will provide a response to the US FDA within the stipulated time frame.
Delhivery: Logistics player Delhivery has narrowed its losses to Rs 69 crore in the fourth quarter ended March 2024.
Bandhan Bank: Bandhan Bank reported a net profit of Rs 54.62 crore for the quarter ended March 2024, which was down from Rs 808 crore in the year ago period.
VRL Logistics: VRL Logistics reported net profit of Rs 21.5 crore in the fourth quarter. Revenue from operations were at Rs 768 crore.
IDFC First Bank: IDFC First Bank informed the exchanges that its shareholders approved merger of IDFC Limited with the company.
Nestle India: Nestle India shareholders have rejected the increase in royalty payment to the parent company. The FMCG major had approved a hike in royalty fee over a period of five years.
Godrej Properties: In a bid to expand the business, Godrej Properties acquired 10 land parcels has set a target for this fiscal to buy more parcels that can generate sales bookings of Rs 20,000 crore.
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