Stocks to watch on May 18: The Nifty futures contract trading on the Singapore Exchange signals a positive start for domestic stocks. The contract traded at 18,277, up 45 points or 0.25% from the previous close.
Revenue Q4FY23
State Bank of India, ITC, InterGlobe Aviation, Zydus Lifesciences, UNO Minda, 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 Foods, GAIL (India), Gujarat Narmada Valley Fertilizers & Chemicals, GR Infraprojects, Hindustan Construction Co, Hindustan Foods, IG Petrochemicals, Jet Airways (India), Likhitha Infrastructure, PTC India Financial Services, PSP Projects, Sharda Motor Industries, Tasty Bite Eatables, Thomas Cook (India), Transpek Industry, Trident, Ujjivan Financial Services, Universal Cables, Vindhya Telelinks.
MTAR Technologies: The company on Wednesday reported a net profit of Rs 31.07 crore in Q4FY23, up 56.89 percent from Rs 19.80 crore last year. Net sales increased by a whopping 99.23 percent to Rs 196.40 crore vs Rs 98.58 crore in March 2022. Ebitda also posted a 79 percent year-over-year (YoY) gain.
Vortex of India: Consumer durables maker Whirlpool of India Ltd on Wednesday reported a 24.58 per cent drop in its consolidated net profit to Rs 63.71 crore for the fourth quarter ending March 2023. Operating income fell 2 per cent to Rs 1,672.65 crore during the assessed quarter at Rs 1,706.91 crore in the corresponding period of the previous financial year. MM Forgings: Net profit rose 310.5 percent to Rs 30.6 crore in the recently ended quarter, compared to a PAT of Rs 7.5 crore in Q4FY22. Total income rose 20 percent year-on-year to Rs 393 crore.
JK Band: The company’s net profit rose from Rs 38.22 crore last year to Rs 111.56 crore in Q4FY23. It beat Bloomberg’s estimate of Rs 79.2 crore profit. Total revenue rose 10 percent year-on-year to Rs 3,632.47 crore; Ebitda rose 65 percent year-on-year to Rs 376.2 crore; and Ebitda margin increased to 10.45 percent versus 6.9 percent year-over-year.
Honeywell automation India: The company’s revenue grew 27.2 percent year-on-year to Rs 849.68 crore, lower than Bloomberg’s estimate of Rs 910.04 crore. While Ebitda increased by 58.99 percent to Rs 138.8 crore, margin increased to 16.34 percent versus 13.07 percent. Net profit rose 54.16 percent to Rs 112.03 crore (Bloomberg estimate: Rs 104.68 crore).
New Delhi Television (DailyExpertNews): The board has approved a proposal to seek permission from the Ministry of Information & Broadcasting for the phased launch of nine news channels in various Indian languages.
HDFC bank: The Reserve Bank of India has authorized SBI Funds Management Ltd to acquire up to 9.99 percent stake in HDFC Bank. SBIFML has been advised by the RBI to acquire the stake in the bank within a six-month period i.e. no later than 15 November 2023.
Vedant fashion: Ravi Modi Family Trust, one of the promoters of Vedant Fashions, plans to sell up to 16.99 million shares of the company (representing 7 percent of the company’s total share capital) on May 18-19, 2023. floor price for the offer will be Rs 1,161 per share, which is almost 7 percent lower than the closing price of the share on the BSE on Wednesday.
SpiceJet: The Supreme Court on Wednesday gave SpiceJet until July 18 to pay the $24 million settlement amount to Credit Suisse in the dispute. Credit Suisse told the court that while SpiceJet had made some payments, it still has an outstanding amount of about $4.4 million to pay.
Fertilizer stocks: Chambal Fertilizers, Gujarat State Fertilizers and Chemicals, Deepak Fertilizers and Petrochemicals, National Fertilizers and Nagarjuna Fertilizers & Chemicals will be the focus today as the Union cabinet on Wednesday approved a Rs 1.08 trillion grant for the ongoing Kharif or monsoon season.
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