Stocks to watch: Shares of firms like RIL, Nykaa, Paytm, HDFC Bank, BHEL, TVS Motor, Lupin, and others will be in focus on Wednesday’s trade.
Stocks To Watch On May 22: Equity markets declined in a volatile trade on Tuesday amid weak trends from Asian and European markets. In today’s trade, shares of Apollo Tyres, Protean e-Gov Tech, Sun Pharma, Nykaa, Paytm among others will be in focus due to various news developments and quarterly earnings.
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Sun Pharma, Grasim, Nykaa, Paytm, Jubilant Food, Gland Pharma
Shares of Sun Pharma, Grasim, Nykaa, Paytm, Jubilant Food and Gland Pharma will be in focus as the companies will announce quarterly results.
RIL: Oil-to-telecom conglomerate Reliance Industries (RIL) on Tuesday said Nel Hydrogen Electrolyser AS, a fully owned subsidiary of Nel ASA, has entered into a technology licensing agreement with it for electrolyser manufacturing in India.
Sun Pharma: Pharmaceutical giant will release its Q4FY24 today, May 22. It is set to see a strong financial earnings on a year-on-year (Y-o-Y) basis for Q4FY24, showing a 8-14 per cent Y-o-Y jump in its topline, registering revenues in the range of Rs 11,858 crore and Rs 12,472 crore, according to brokerage estimates. The company recorded a revenue of Rs 10,930 crore in the Q4FY23.
HDFC Bank: Private sector lender HDFC Bank on Tuesday sold its entire 3.20 per cent stake in Protean eGov Technologies Rs 150 crore via open market transaction.
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BHEL: Bharat Heavy Electricals Limited (BHEL) net profit plummeted 25.6 per cent to Rs 489.6 crore as opposed to Rs 658 crore in the previous year. Meanwhile, revenue saw a slight uptick of 0.4 per cent to Rs 8,260.3 crore compared to Rs 8,227 crore in the corresponding quarter of the previous fiscal year.
TVS Motor: The two-wheeler manufacturer unveiled the TVS iQube electric scooter in Sri Lanka.
United Spirits: Company has received a notice to pay water charge arrears of Rs 345.45 crore from the Water Resources Department, Maharashtra.
JK Tyre: The tyre maker profit rose 56.2 per cent to Rs 169.3 crore from Rs 108.4 crore in the previous year, alongside a 1.8 per cent rise in revenue to Rs 3,698.5 crore from Rs 3,632.5 crore year-on-year.
Lupin: Company’s subsidiary has reached a settlement agreement with Health Care Service regarding a case involving the diabetes drug Glumetza, agreeing to pay $9 million to Health Care Service as part of the settlement agreement.
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Metropolis Healthcare: Metropolis Healthcare’s net profit rose 9.3 per cent to Rs 36.4 crore compared to Rs 33.3 crore in the previous year. Revenue surged 17.2 per cent to Rs 331 crore from Rs 282.5 crore year-on-year.
Apollo Tyres: Warburg Pincus arm White Iris Investment will likely offload 3.5% stake in Apollo Tyres through block deals, according to reports.
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