Stock to Watch: CONCOR, Texmaco Rail and Engineering, Tata Motors and Nestle India are some of the stocks that are likely to remain in focus after the Sensex and Nifty closed higher during the special trading session on Saturday.
Concor, Texmaco Rail, Tata Motors, and Nestle India in focus today. (Photo credit: News9)
New Delhi: Indian indices closed higher during the special trading session on Saturday with the Sensex up 88.91 points to 74,005.94 and the Nifty up 245.73 points to 74,162.76. Foreign portfolio investors (FPIs) withdrew a whopping Rs 28,200 crore from Indian stocks so far in May, amid election outcome-related uncertainties. They also sought to capitalise on the valuations offered by Chinese markets. In April, foreign investor net withdrawals stood at Rs 8,700 crore. Last week, 8 out of the top-10 highest-valued firms in India added Rs 1,47,935.19 crore in terms of market valuation. Life Insurance Corp of India (LIC) and Reliance Industries were the biggest gainers last week.
Anupam Rasayan: The company reported fourth-quarter consolidated net profit stood at Rs 4050 crore million compared to Rs 7260 crore in the year-ago period. The company’s EBITDA stood at Rs 9260 crore compared to Rs 11,700 crore in the year-ago period.
CONCOR: State-owned Container Corp of India (CONCOR) gave a 15 per cent growth guidance for FY25 for trade and 25 per cent growth guidance for domestic markets. The comoany said that it participation in the PM Gati Shakti Scheme is likely to bring down its land value cost by 60-65 per cent.
Texmaco Rail and Engineering: The company said it plans to expand its supply chain for freight wagon components. The expansion is being considered with an eye on markets in Europe and the US.
Dodla Dairy: The milk processing company’s MD said that its had started production at it Kenya facility with a daily output of 1 lakh litres per day. The company said the facility is expected to boost revenue growth in Africa over the coming years.
Endurance Technologies: The company reported that it has secured a Rs 2500 crore order for aluminium forgings from Tata Motors Jaguar Land Rover. The company also plans ti expand embedded electronics output and battery management systems.
Orient Green Power Co: The company plans to raise Rs 250 crore through a rights issue. The company’s rights issue ratio and price have not been disclosed as yet. Under the rights issue, existing stakeholders will be able to purchase more shares of the comoany at a discounted price.
Tata Motors: The car and heavy vehicles maker stated that its investment outlay for FY25 had risen to Rs 43,000 crore, with a major portion allocated to the Jaguar Land Rover luxury car division.
Nestle India: Shareholders of the Swiss FMCG giant’s Indian arm scrapped a proposal to raise the amount paid as a royalty to the parent company by 0.15 per cent to 5.25 per cent of net sales.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
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