Stocks To Watch On May 10: Domestic markets resumed their corrective stance on Thursday following a day of consolidation, experiencing a decline of nearly 1.5 per cent. In today’s trade, shares of Tata Motors, Bank of Baroda, Cipla, BPCL, Manappuram Finance among others will be in focus due to various news developments and quarterly earnings.
Tata Motors, Bank of Baroda, Cipla
Shares of Tata Motors, Bank of Baroda and Cipla will be in focus as the companies will announce their fourth quarter results today.
Bharat Petroleum Corporation Limited: The company reported on May 9 a consolidated net profit of Rs 4,789.57 crore in Q4 FY24, a decline of 30 per cent YoY. BPCL’s revenue from operations declined marginally to Rs 1.32 lakh crore in the same period. The company’s board recommended the issue of bonus shares in the ratio of 1:1.
Suryoday Small Finance Bank: The bank reported a 56.3 per cent YoY increase in net profit at Rs 60.8 crore in Q4 FY24. The gross non-performing assets (GNPA) stood at 2.94 per cent in the March quarter against 3.06 per cent in the December quarter. Provisions stood at Rs 48.2 crore against Rs 37.9 crore QoQ and Rs 51.5 crore YoY. The bank’s provision coverage ratio during the quarter was 71.2 per cent.
ZEE: The Board of Zee Entertainment Enterprises’ will meet on May 17 to consider and approve financial results and also consider a dividend payment.
Manappuram Finance: The Board of Manappuram Finance approved the re-appointment of Madhu Mohan as chief risk officer of the company.
Solara Active Pharma Sciences: The company approved a rights issue to raise Rs 449.95 crore. The rights shares are priced at Rs 375 per equity share, which includes a premium of Rs 365 per equity share, the company said in a regulatory filing. The issue is scheduled to open on May 28, 2024, and will close on June 11, 2024.
Abott India: The company reported a 24 percent YoY growth in net profit at Rs 287 crore in Q4 FY24. The company’s revenue increased 7 per cent to Rs 1,439 crore from Rs 1,343 crore in the year-ago period. Abott India’s board recommended the payment of a final dividend of Rs 410 per equity share of Rs 10 each for the year ended March 31, 2024, subject to shareholders’ approval.
ADF Foods: ADF Foods’ revenue from operations was Rs 153 crore in Q4 FY24 as compared to Rs 123 crore in the same quarter of the previous year. Profit after tax increased to Rs 25 crore in Q4 FY24 as compared to Rs 16 crore in the same quarter the previous year.
Gopal Snacks: Profit after tax for Gopal Snacks declined 4.15 per cent to Rs 26.11 crore in the January-to-March quarter. While revenue increased 6.6 per cent to Rs 358 crore in the quarter ended March 2024.
Relaxo Footwear: Relaxo Footwears reported a consolidated net profit of Rs 61.4 crore in Q4 FY24, a decline of 3 percent. The company’s total revenue fell 2.3 per cent to Rs 747.2 crore in the same period. EBIDTA was at Rs 120.4 crore, growing by 117.9 per cent in the January-to-March quarter. The company proposed a final dividend of Rs 3 per share for FY24, subject to approval at the upcoming Annual General Meeting.
Brigade Enterprises: The company has inked an agreement for a prime land parcel located on Old Madras Road in Bengaluru. The project is spread across 4.6 acres, and the total development potential of the residential project will be around 0.69 million square feet with a gross development value of Rs 660 crore.
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