Stocks to Watch: In volatile trade ahead of the Lok Sabha election results, equity markets fell for the third consecutive day on Tuesday.
Today, shares of IRCTC, Hindalco, among others, will be in focus due to various related developments.
Tata Steel, Cummins India, Samvardhana, Alkem Labs, SJVN
Today, Tata Steel, Cummins India, Samvardhana, Alkem Labs, and SJVN will announce their fourth quarter results.
NBCC India:
Q4FY24 revenues grew by 43.1% year over year (YoY) to Rs 4,025 crore compared to Rs 2,813 crore in Q4FY23. During Q4FY24, earnings before interest, tax, and depreciation (Ebitda) more than doubled, from Rs 104 crore in Q4FY23, with a margin of 6 percent, up from 3.7%.
The company’s net profit rose by 24.5 percent YoY to Rs 141 crore in Q4FY24 from Rs 114 crore in Q4FY23.
Reliance Industries:
The company signed a one-year deal with Rosneft to purchase at least 3 million barrels of oil per month in roubles.
Hindalco:
Hindalco Industries’ US subsidiary Novelis will be listed on the New York Stock Exchange (NYSE) at $18-21 a share.
According to public disclosures made on Tuesday, this represents 7.5% of Hindalco’s current stake.
Hindalco Industries could receive up to $945 million from Novelis’ initial public offering (IPO).
Grasim Industries:
Birla Group Holdings Private Limited (BGHPL) has increased its stake in Grasim Industries from 19.10 percent to 23.18 percent.
IRCTC:
In Q4FY24, the state-owned railway company increased its net profit by 1.9 percent to Rs 284.2 crore from Rs 278.8 crore the previous year.
The revenue rose by 19.7% to Rs 1,154.8 crore from Rs 965 crore YoY. EBITDA grew by 11.6% to Rs 362.4 crore from Rs 324.6 crore YoY, but margins declined to 31.4% from 33.6%.
Aditya Birla Fashion And Retail:
As of Q4FY24, the consolidated revenue of the company grew by 18.3% year over year to Rs 3,407 crore from Rs 2,880 crore. Ebitda grew by 47.1% to Rs 284 crore from Rs 193 crore, with a margin of 8.3%. However, the company reported a net loss of Rs 266 crore, a wider loss than the previous year’s loss of Rs 195 crore.
Amara Raja Energy:
The firm reported its Q4 earnings, showing a 61.4 per cent increase in net profit to Rs 229.8 crore from Rs 142 crore YoY. Revenues grew 19.5% to Rs 2,908 crore from Rs 2,433.2 crore YoY. Ebitda grew by 16.2 per cent to Rs 410.4 crore from Rs 353.2 crore YoY, but margins fell to 14.1 percent from 14.5 percent.
Gujarat Narmada Valley Fertilisers and Chemicals:
During the fourth quarter of FY24, the company reported a 7.1% YoY decline in revenue to Rs 2,110 crore from Rs 2,271 crore. In Q4FY24, net profit decreased by 61.3 per cent YoY to Rs 130 crore from Rs 336 crore. The board recommended a dividend of Rs 16.5 per share. Ebitda dropped by 60.7 per cent to Rs 145 crore from Rs 369 crore.
PNB Housing Finance:
According to reports, PNB Housing Finance could see a block deal of Rs 500 crore in the coming days, although information on the sellers hasn’t been disclosed.
Grasim:
The promoter Birla Group Holdings (BGHPL) has increased its stake in the company by 4.08%, bringing the total stake to 23.18%.
City Union Bank:
R Vijay Anandh has been appointed for a three-year term as the bank’s whole-time director and executive director.
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