Key stocks to watch on May 14 include Federal Bank, BHEL, Colgate-Palmolive, Bharti Airtel, RVNL, DLF, JSPL, Vedanta and more
Stocks To Watch On May 14: The week has kicked off with key earnings reports to set the tone for the market. Investors should watch out for results on May 14, 2024, from Bharti Airtel, Colgate-Palmolive, Bharti Hexa, Idea Forge, Oberoi Realty, Siemens, and Zydus Wellness, among others.
This week, the markets will be majorly influenced by Q4 earnings and global trends. According to the latest government data, India’s retail inflation eased to 4.83 per cent in April as prices of some kitchen items declined. The government has tasked the Reserve Bank to ensure inflation remains at 4 per cent, with a margin of 2 per cent on either side.
Meanwhile, here are some stocks to watch on May 14:
Q4 Earnings Today: Bharti Airtel, Colgate-Palmolive, Bharti Hexa, Idea Forge, Oberoi Realty, Siemens, and Zydus Wellness, among others
DLF: It Posts 62% Jump In Profit, Bullish on Real Estate
DLF, India’s largest realty company, has reported a strong 62 per cent jump in net profit and announced exciting new housing projects with an estimated revenue potential of Rs 36,000 crore. This positive news could buoy the real estate sector.
Its total income rose to Rs 2,316.70 crore in the fourth quarter of 2023-24 from Rs 1,575.70 crore in the corresponding period of the previous year, according to a regulatory filing.
Infosys Penalty
The Canadian government has imposed a penalty of over 1.34 lakh Canadian dollars (about Rs 82 lakh) on an IT company for alleged underpayment of employee health tax for the year ended December 31, 2020, according to a regulatory filing. Infosys received an order from Canada’s Finance Ministry on May 9.
Read More: Silkflex Polymers IPO allotment likely to be out today. Latest GMP, steps to check status
Zomato: It Turns Profitable In Q4
Online food delivery firm Zomato Ltd has reported a consolidated net profit of Rs 175 crore in the March quarter on the back of higher revenue. The company had posted a consolidated net loss of Rs 188 crore in the same quarter last fiscal.
Consolidated revenue from operations stood at Rs 3,562 crore. It was Rs 2,056 crore in the year-ago period, it added. Total expenses were at Rs 3,636 crore. The company posted its total expenses at Rs 2,431 crore in the corresponding period a year ago, it said.
The shares of Zomato on Monday declined Rs 7.7 or 3.82 per cent to Rs 193.70.
Varun Beverages Fizzles Up
Varun Beverages Ltd, a franchise partner of PepsiCo, has reported a 25 per cent rise in consolidated profit after tax at Rs 547.98 crore in the first quarter ended March 2024. The company, which follows a calendar year (January-December) of reporting, had posted consolidated profit after tax (PAT) of Rs 438.57 crore in the same quarter last year, Varun Beverages said in a regulatory filing.
Consolidated revenue from operations in the first quarter stood at Rs 4,397.98 crore as against Rs 3,952.59 crore in the year-ago period, it added. Total expenses were higher in the quarter at Rs 3,609.76 crore compared to Rs 3,329.7 crore in the year-ago period.
The shares of Varun Beverages on Monday were up by Rs 14.5 or 1 per cent at 1,477.80 apiece on the BSE.
Tata Motors: It Stumbles on Q4 Earnings Miss
Tata Motors saw a significant decline of nearly 9 per cent to below Rs 1,000 in the previous close, ending the day at Rs 959.8 apiece on the BSE. The shares fell as Tata Motors Q4 results missed Street estimates and brokerage retained ‘Reduce’ position. Its net profit during January-March 2024 soared over threefold in Q4, with its share price rising on Friday. However, it missed Street estimates on revenue and Ebitda fronts.
Vedanta: It Will Discuss Fundraising and Dividends
Mining conglomerate Vedanta will convene a board meeting on May 16 to deliberate on various fundraising strategies, including the issuance of equity shares or other convertible securities. The meeting will also address the possibility of declaring a first interim dividend for the financial year 2024-25.
JSPL: Its Profits Soar
Steel major JSPL has posted a 100.21 per cent year-on-year jump in its net profit at Rs 933.5 crore for the fourth quarter. In the corresponding quarter, JSPL posted a net profit of Rs 466 crore. The company’s revenue dipped 1.5 per cent to Rs 13,487 crore, compared with Rs 13,692 crore in the corresponding period of the preceding fiscal.
RVNL: It Secures New Contract
State-owned RVNL said it has clinched a contract from Southern Railway for Rs 239 crore. The letter of acceptance (LoA) received by RVNL outlines the provision of an automatic block signalling system spanning the Jolarpettai and Erode junctions within the Salem division of Southern Railway.
Moreover, Federal Bank and BHEL are top trading picks for Sharekhan on May 14. Brokerage Anand Rathi also has three major technical picks for May 14 — Indian Hotels, Power Grid, Federal Bank.
