Stocks to watch: Shares of firms like ITC, IndiGo, Honasa Consumer, NTPC, Hindalco, HCL, ZEE, and others will be in focus on Friday’s trade.
Stocks To Watch On May 24: Benchmark stock indices Sensex and Nifty closed at lifetime high levels on Thursday following a record dividend payout by the RBI to the government. In today’s trade, Honasa Consumer, ITC, IndiGo, Vodafone Idea, and ZEE among others will be in focus due to various developments and quarterly earnings.
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NTPC, Hindalco, United Spirits, Ashok Leyland
Shares of NTPC, Hindalco, United Spirits, and Ashok Leyland will be in focus as the companies will announce their fourth-quarter results today.
IndiGo: The aviation company’s profit rose over 106 per cent to Rs 1,894.8 crore in Q4FY24 against Rs 919.2 crore in the same quarter a year ago (Q3FY23). Revenue, meanwhile, surged 26 per cent to Rs 17,825.3 crore during the same period.
HCL Technologies: The IT firm, has finalised the acquisition of select assets from Hewlett Packard Enterprise’s Communications Technology Group (CTG) for $225 million. This strategic acquisition encompasses valuable intellectual property (IP), engineering and research & development (R&D) talent, as well as established client relationships with leading global Communication Service Providers (CSPs).
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JK Lakshmi Cement: The cement manufacturer’s profit rose 41.1 per cent to Rs 162 crore in Q4FY24 compared to Rs 114.8 crore in the corresponding period last year. However, there was a slight decline in revenue, which fell 4.4 per cent to Rs 1,780.9 crore compared to Rs 1,862.1 crore in the previous year.
Zee Entertainment Enterprises: Zee Entertainment has declared that Culver Max Entertainment and Bangla Entertainment have not fulfilled their obligations as per the Merger Cooperation Agreement (MCA). As a result, Zee has decided to terminate the MCA and has requested Culver Max and BEPL to settle the termination fee of $90 million as stipulated in the agreement.
Fortis Healthcare: Fortis Healthcare profit surged 46.9 per cent to Rs 203.1 crore in Q4FY24, as compared to Rs 138.3 crore in the same period last year (Q4FY23). Meanwhile, revenue saw an uptick, rising 8.7 per cent to Rs 1,785.9 crore compared to Rs 1,642.7 crore in the previous year.
Barbeque Nation Hospitality: The food chain operator’s losses narrowed to Rs 1 crore in Q4FY24, as opposed to a loss of Rs 11.8 crore. Revenue, on the other hand, rose 6.4 per cent to Rs 298 crore in Q4FY24.
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UPL: UPL has entered a joint venture agreement with Aarti Industries for the production and promotion of specialty chemicals utilised across various downstream industries.
Schneider Electric Infrastructure: The company’s profit plummeted 92.7 per cent to Rs 3.28 crore in Q4FY24 compared to Rs 44.8 crore in the same period last year. Despite this, revenue rose 14.9 per cent to Rs 471.8 crore compared to Rs 410.5 crore in the previous year.
Concord Biotech: The company’s profit increased 3.9 per cent to Rs 95 crore in Q4FY24 compared to Rs 91.5 crore in the same period last year. Meanwhile, revenue surged 17 per cent to Rs 319 crore compared to Rs 272.6 crore in the previous year.
Honasa Consumer: Honasa Consumer, which owns and operates Mamaearth, on Thursday reported a net profit of Rs 30.4 crore for the fourth quarter ended March 2024.
ITC: Diversified conglomerate ITC Ltd on Thursday reported 1% fall in its consolidated net profit at Rs 5120 crore in the March quarter.
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