Stocks To Watch on May 3: Domestic markets rebounded on Thursday on strong macro data and positive global cues. In today’s trade, shares of Coal India, YES Bank, Coforge, Tata Technologies, Bajaj Finance, Adani Green among others will be in focus due to various news developments.
Q4FY24 results on May 3, 2024: Titan, Britannia Industries, Adani Green Energy, Godrej Properties, MRF, Mangalore Refinery and Petrochemicals, Carborundum Universal, Inox Wind, Aptus Value Housing Finance, First Source Solutions, Raymond, Go Fashion India, Aarti Drugs, Tatva Chintan Pharma Chemical, and HFCL will announce their Q4FY24 results on Friday, May 3, 2024..
Dabur: Dabur India’s March quarter net profit increased by 16.5 per cent year-on-year (Y-o-Y) to Rs 341 crore, while revenue rose 5 per cent to Rs 2,814.6 crore. Its organic domestic volume grew 4.2 per cent in the said quarter.
Ceat: The tyre maker’s consolidated net profit declined 22.76 per cent Y-o-Y to Rs 102.27 crore in Q4FY24, with revenue at Rs 2,991.85 crore (up 4 per cent Y-o-Y).
Coal India: Coal India reported 26 per cent Y-o-Y growth in consolidated net profit at Rs 8,682 crore. Revenue from operations, however, dipped 2 per cent to Rs 37,410 crore.
Adani Enterprises: Adani Group’s flagship company’s net profit fell 38 per cent Y-o-Y in Q4FY24 to Rs 451 crore, on the back of an exceptional expenditure. Its revenue from operations also remained muted at Rs 29,180 crore, up 1 per cent.
The company received two show cause notices from markets regulator Securities and Exchange Board of India (Sebi) as part of its ongoing investigation in Hindenburg’s report, it said in a statement.
Ajanta Pharma: The pharmaceutical company has announced a share buyback plan for 1.03 million equity shares, equivalent to 0.82 per cent of the total outstanding shares of the company.
Zydus Lifesciences: Bayer Pharmaceuticals Pvt Ltd has acquired the remaining 25 per cent stake in Bayer Zydus Pharma to secure full ownership. The sale was worth Rs 282 crore.
Coforge: The IT company intends to purchase up to 54 per cent stake in Cigniti Technologies at a price of Rs 1,415 per share.
Jubilant Pharmova: The company has approved the appointment of Harsher Singh as CEO of the radiopharma business. Earlier, Harsher was working with Amneal Pharmaceuticals. Meanwhile, the company also announced the superannuation of Pramod Yadav, the CEO of Jubilant Radiopharma. Pramod will continue as an adviser until June 30 of this year.
Indian Energy Exchange: The electricity exchange achieved an overall volume of 9,044 million units (MU) in April 2024, growing 14.1 percent over a year-ago month. The market clearing price in the day ahead market during the month at Rs 5.1 per unit decreased approximately 6 percent year-on-year. The real-time electricity market (RTM) continued its growth trajectory in April, increasing 22.1 percent YoY to 2,629 MU.
Wipro: Independent Health, Western New York’s Medicare Advantage Plan, has selected Wipro to implement their Medicare Prescription Payment Plan platform for the upcoming open enrollment period. The platform will help Independent Health streamline the payment process to seamlessly integrate these new provisions, simplifying prescription cost management for Medicare recipients in Western New York.
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