Authored by : ET Now Digital Updated May 7, 2024 | 08:52 AM IST Stocks To Watch Today, Stocks in News: Delta Corp, Dr Reddy's Laboratories, IRB Infrastructure Developers, Indraprastha Gas, JSW Energy, Pidilite Industries, SRF, Voltas among other set to announce Q4 results today.
The telecom department has confirmed receiving applications from these three telcos before the deadline, with no new companies applying this time.
The 30-share BSE Sensex closed the volatile trade with positive bias at 73,895.54, up 17.39 points or 0.02 per cent.
Zee : Zee Media Corporation Ltd on Monday said its CEO Abhay Ojha has been terminated with effect from May 4, 2024.
Lupin: Lupin has gained approval from the USFDA to market generic Valbenazine Capsules, used to treat tardive dyskinesia.
Authored by : ET Now Digital Updated May 7, 2024 | 08:52 AM IST Stocks To Watch Today, Stocks in News: Delta Corp, Dr Reddy's Laboratories, IRB Infrastructure Developers, Indraprastha Gas, JSW Energy, Pidilite Industries, SRF, Voltas among other set to announce Q4 results today. (Image: iStock/ET NOW News)
Stocks To Watch Today, Stocks In News : Shares of Lupin , Godrej Consumer Products, DCM Shriram, Gujarat Fluorochem, and Gujarat Gas will be in focus on Tuesday's (May 7) trading session after they announced their quarterly earnings yesterday (Monday, May 6).
Apart from this, ITC 's stock will be of keen interest among investors as an old time investor British American Tobacco (BAT) will likely exit ITC Hotels, which is soon to be demerged from ITC Ltd. and get listed on the Indian stock exchanges.
The three main private telecom companies in India – Reliance Jio, Bharti Airtel, and Vodafone Idea – will compete for a share of the 5G spectrum worth Rs 96,317.65 crore in the upcoming auction starting on June 6. The telecom department has confirmed receiving applications from these three telcos before the deadline, with no new companies applying this time. Previously, in the 2022 auction, a unit of the Adani group unexpectedly participated. The auction, initially set for May 20, was postponed due to general elections.
In other news, the Telecom Regulatory Authority of India (TRAI) may extend the deadline for telecom companies to update their IT systems to meet new reporting requirements on base tower stations, Economic Times (ET) reported on May 6. The rules, announced on April 26, demand detailed information like site location, frequency, connectivity, and technology used to improve service quality and address call drop issues. Telecom operators were initially against providing such detailed data.
Q4 Results Today
Delta Corp, Dr Reddy's Laboratories, IRB Infrastructure Developers, Indraprastha Gas, JSW Energy, Pidilite Industries, SRF, Voltas , Max Financial Services, CreditAccess Grameen, Sonata Software, Kajaria Ceramics, PB Fintech, Jupiter Wagons, Navin Fluorine International, Chambal Fertilizers, Graphite India, Century Textiles, and Latent View Analytics among other small and big companies are set to announce their quarterly results today.
Market Recap
Equity benchmark indices closed flat on Monday, dragged by selling in PSU stocks. The 30-share BSE Sensex closed the volatile trade with positive bias at 73,895.54, up 17.39 points or 0.02 per cent. The NSE Nifty witnessed a range-bound trade. Though it opened with gains, it faced selling pressure at higher levels and closed into red at 22,442.70, down 33.15 points 0.15 per cent.
On the sectoral front, the Nifty Bank index fell a meager 28.25 points or 0.06 per cent to settle at 48,895.30. The Nifty Realty index was the outperformer, climbing around 2.76 per cent, followed by IT and FMCG. The PSU index crashed 3.66 per cent. From the broader market, Nifty Midcap100 and Smallcap100 fell 0.54 per cent and 1.50 per cent, respectively.
Stocks in News
Here's our list of the stocks you should watch today:
Wipro : Wipro has announced that it is teaming up with Microsoft to launch a suite of cognitive assistants for financial services powered by generative artificial intelligence (GenAI). The IT services company said that these assistants will provide financial professionals with deep market intelligence.
Zee : Zee Media Corporation Ltd on Monday said its CEO Abhay Ojha has been terminated with effect from May 4, 2024. In a regulatory filing, the company said its Board of Directors at their meeting held on Monday has approved and confirmed the cessation of employment of Ojha from the organisation and his consequent cessation as the Chief Executive Officer of the company with effect from May 4, 2024.
Lupin: Lupin has gained approval from the USFDA to market generic Valbenazine Capsules, used to treat tardive dyskinesia. This medication is equivalent to Neurocrine Biosciences, Inc's Ingrezza Capsules. Lupin is among the first applicants for this generic drug, entitling them to 180 days of shared exclusivity.
Mastek: Mastek announced its iConniX portfolio to enable Gen AI-led innovation across industries. iConniX currently offers over 120 AI assets, 4 AI platforms, and solution blueprints tailored to meet industry specific business use cases.
Orient Electric: Orient Electric announced that it has commenced commercial production from its greenfield manufacturing plant at Hyderabad, Telangana.
HPCL : State-run Hindustan Petroleum Corporation (HPCL) on Monday said that its board of directors could consider a proposal for a recommendation of bonus equity shares along with the fixation of record date on May 9, Thursday when the members meet to approve the company's financial results for the quarter ended March 31, 2024. The company could also recommend a final dividend, if any, for the Financial Year 2023-2024.
Adani Total Gas: Adani Total Gas clarified that Dharma LNG is not included in its corporate structure.
Tube Investments: TI Clean Mobility, a subsidiary of Tube Investments of India (TII) signed definitive documents to raise around Rs 580 crore for its electric vehicle venture from climate-focused private equity fund manager GEF capital partners.
Q4 Earnings Recap
Lupin
YoY Revenue up 11.97% at Rs 4,961 crore
YoY EBITDA up 72.51% at Rs 996 crore
Margin up 705 bps at 20.09%
YoY Net profit up 0.79% at Rs 439 crore
Board recommends dividend of Rs 8 per share
Gujarat Gas
QoQ Revenue up 5.13% at Rs 4,134 crore
QoQ EBITDA up 47.51% at Rs 591 crore
Margin up 409 bps at 14.29%
QoQ Net profit up 85.72% at Rs 410 crore
Exceptional income item of Rs 55.69
Gujarat Fluorochem
YoY Revenue down 23% at Rs 1,133 crore
YoY EBITDA down 55.5% at Rs 229 crore
Margin at 20.2%
YoY Net profit down 70% at Rs 101 crore
Board proposes final dividend of Rs 3 per share
DCM Shriram
YoY Revenue down 11.15% at Rs 2,399 crore
YoY EBITDA down 23.38% at Rs 265 crore
Margin down 167 bps at 11.05%
YoY Net profit down 36.89% at Rs 118 crore
Recommended final dividend of Rs 2.6 per share
Godrej Consumer Products
YoY Revenue up 5.81% at Rs 3,386 crore
EBITDA loss at Rs 1,239 crore
YoY Net loss at Rs 1,893 crore
Declared interim dividend of Rs 10 per share
Note: Loss on Exceptional item of Rs 2,376 crore
Route Mobile
YoY Revenue up 0.82% at Rs 1,017 crore
YoY EBITDA down 4.94% at Rs 125 crore
Margin down 74 bps at 12.33%
YoY Net profit down 8.54% at Rs 95.16 crore
Board recommends final dividend of Rs 2 per share
Exceptional Item of Rs 1.8 crore
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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