Stocks To Watch On May 23: Equity markets remained volatile for another session on Wednesday but ended with modest gains. In today’s trade, shares of ITC, IndiGo, Grasim, Power Grid, Nykaa, Gland Pharma among others will be in focus due to various news developments and quarterly earnings.
ITC, IndiGo, Honasa, Tata Investment
Shares of ITC, IndiGo, Honasa and Tata Investment will be in focus as the companies will announce their fourth quarter results today.
Jubilant FoodWorks: Jubilant Foodworks Ltd (JFL) on Wednesday reported a multi-fold increase in its consolidated net profit to Rs 208.2 crore for the fourth quarter ended March 2024, helped by exceptional item gains. The company, which operates fast-food chains – Domino’s Pizza and Dunkin’ Donuts, had posted a net profit of Rs 28.5 crore in the January-March quarter of the previous fiscal.
Nykaa: FSN E-Commerce Ventures (Nykaa) reported a consolidated net profit of Rs 90.7 crore in Q4FY24, steeply higher than Rs 22.7 crore posted in Q4FY23. Revenue from operations soared 28 per cent to Rs 1,667.98 crore in Q4 FY24 as opposed to Rs 1,307.7 crore in Q4FY23.
Oil India: India signs agreement with Numaligarh Refinery for transportation of additional petroleum products through Numaligarh-Siliguri Product Pipeline
Ramco Cements: Ramco Cements missed analysts’ estimates for fourth-quarter profit on Wednesday, hurt by weak cement prices, especially in its core market in South India. Its standalone net profit after tax dropped over 20 per cent annually to Rs 121 crore.
Torrent Power: The company reported its second straight fall in quarterly profit on Wednesday, due to higher fuel prices. Its consolidated net profit dropped 4.2 per cent to Rs 430 crore in Q4FY24, from Rs 449 crore a year ago.
Power Grid: State-owned Power Grid reported a nearly 4% dip in its consolidated net profit to Rs 4,166 crore in the March 2024 quarter, mainly due to a marginal decline in income.
Metro Brands: Metro Brands reported net profit of Rs 155 crore for the January-March 2024 period. Revenue from operations stood at Rs 583 crore.
Gland Pharma: Gland Pharma posted a net profit of Rs 192 crore in the March quarter. Revenue from operations came in at Rs 1,537 crore.
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