Tuesday, May 30, 2023
HomeMarket InsiderIndiaStocks to Watch: SBI, ITC, Indigo, HDFC Bank, Vedant Fashions, MTAR Tech,...

Stocks to Watch: SBI, ITC, Indigo, HDFC Bank, Vedant Fashions, MTAR Tech, and Others

The Nifty futures contract trading on the Singapore Exchange suggests a bullish start to the day for local stock markets. As of the previous close, the contract was trading at 18,277, which was an increase of 45 points, or 0.25%.

Earnings during the fourth quarter of FY23

State Bank of India, Industrial Technology Corporation, InterGlobe Aviation, Zydus Lifesciences, United Spirits, Ramco Cements, Arvind, PI Industries, Gland Pharma, Transport Corporation of India, Tata Elxsi, Gulf Oil Lubricants India, Bata India, RITES, Sumitomo Chemical India, PNB Housing Finance, Syrma SGS Technology, Krishna Institute of Medical Sciences, Clean Science and Technology, Shalby, Container Corporation of India, LT

MTAR Technologies stated on Wednesday that their net profit for Q4FY23 was Rs 31.07 crore, which is an increase of 56.89 percent over the Rs 19.80 crore that was recorded the previous year. When compared to the previous month’s net sales of 98.58 crore, its new sales of 196.40 crore represent a whopping 99.23 percent increase. Additionally, Ebitda showed a growth of 79% as compared to the previous year (YoY).

Whirlpool of India: The consumer durables manufacturer Whirlpool of India Ltd. said on Wednesday that its consolidated net profit for the fourth quarter that ended in March 2023 was Rs 63.71 crore, which is a decrease of 24.58 percent from the previous year’s figure. During the period under review, the company’s revenue from operations decreased by 2%, falling to a total of 1,672.65 crore from 1,706.91 crore in the same period of the previous fiscal year. MM Forgings’ net profit for the most recent quarter, which just ended, increased by 310.5 percent to Rs 30.6 crore, compared to a PAT of Rs 7.5 crore for the previous quarter. The annual revenue was up by twenty percent, coming in at Rs. 393 crore.

JK Tyre: The net profit of the firm increased to Rs 111.56 crore in Q4 FY23, a significant increase from the Rs 38.22 crore that was recorded during the same period the previous year. It surpassed the forecasted profit of Rs. 79.2 crore that Bloomberg had. Its overall revenue increased by 10% year over year to reach 3,632.47 crore, while its EBITDA increased by 65% year over year to reach 376.2 crore. Additionally, its EBITDA margin increased to 10.45% from 6.9% year over year.

Honeywell Automation India’s revenue increased by 27.2% year over year to a total of Rs 849.68 crore, which is less than the forecasted Rs 910.04 crore from Bloomberg. While Ebitda surged by 58.99 percentage points to 138.8 crore, the margin rose from 13.07 percentage points to 16.34 percentage points. The company reported a net profit of Rs 112.03 crore, which is 54.16 percent more than the previous projection of Rs 104.68 crore.

The Board of New Delhi Television (NDTV) has accepted a proposal to seek approval from the Ministry of Information and Broadcasting for the gradual creation of nine news stations in various Indian languages.

SBI Funds Management Ltd. has been granted permission by the Reserve Bank of India to purchase a stake in HDFC Bank of up to 9.99 percent. The Reserve Bank of India has given the SBIFML the go-ahead to purchase ownership in the bank within the next six months, or by November 15, 2023 at the latest.

Ravi Modi Family Trust, which is one of the promoters of Vedant Fashions, has plans to sell up to 16.99 million equity shares of the firm on May 18 and 19, 2023. This would be equivalent to seven percent of the entire equity share capital of the company. The minimum price that an investor must pay to participate in the offer is Rs. 1,161 per share. This represents a reduction of approximately 7% from the stock’s closing price on the BSE on Wednesday.

In the case involving SpiceJet and a dispute involving $24 million, the Supreme Court on Wednesday extended the deadline for SpiceJet to make the settlement payment to Credit Suisse until July 18th. Credit Suisse said in front of the court that despite the fact that SpiceJet has made some payments, the airline still owes an outstanding sum of around $4.4 million.

Fertiliser stocks such as Chambal Fertilisers, Gujarat State Fertilisers and Chemicals, Deepak Fertilisers and Petrochemicals, National Fertilisers, and Nagarjuna Fertilisers & Chemicals will be in the spotlight today as a result of the Union Cabinet’s approval of a Rs 1.08 trillion subsidy for the currently ongoing kharif, or monsoon season, on Wednesday.



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