Here's a quick look at which stocks will be in focus in trade on Thursday, from significant investments and major deals to earnings announced on May 29 and those expected on May 30.
Nearly 900 companies will release their quarterly earnings scorecard on May 30 including Apollo Hospitals Enterprise, Bharat Dynamics, Concord Drugs, Gateway Distriparks, Godfrey Phillips India, Hinduja Global Solutions, Lux Industries, Marksans Pharma, Muthoot Finance, Plaza Wires, Salasar Techno Engineering, Sunteck Realty, Suven Pharmaceuticals, Swan Energy, Tarsons Products, TBO Tek, and Welspun Corp.
Earnings Announced Post Market Hours on May 29
Tata Steel Q4 (Consolidated YoY)
Profit plunges 64.6% to Rs 554.6 crore Vs Rs 1,566.2 crore
Revenue falls 6.8% to Rs 58,687.3 crore Vs Rs 62,961.5 crore
Exceptional loss at Rs 594.5 crore Vs exceptional gain of Rs 11.6 crore
Board announces dividend of Rs 3.60 per share
Board approves issuance of additional debt securities, in one or more tranches, up to Rs 3,000 crore on a private placement basis
Board gives approval for the infusion of $2.11 billion (Rs 17,407.5 crore) in subsidiary T Steel Holdings Pte in FY25
Board approves the conversion of debt instruments of $565 million (Rs 4,661.25 crore) held by company in T Steel Holdings in to equity shares in FY25
Cummins India Q4 (Consolidated YoY)
Profit spikes 54.4% to Rs 538.9 crore Vs Rs 348.9 crore
Revenue grows 20% to Rs 2,319 crore Vs Rs 1,933.9 crore
Board approves final dividend of Rs 20 per share
NOCIL Q4 (Consolidated YoY)
Profit jumps 46.7% to Rs 41.5 crore Vs Rs 28.3 crore
Revenue falls 9.2% to Rs 356.5 crore Vs Rs 392.7 crore
Other income zooms to Rs 24.7 crore Vs Rs 2.94 crore
Lemon Tree Hotels Q4 (Consolidated YoY)
Profit surges 42.3% to Rs 84 crore Vs Rs 59 crore
Revenue rises 29.5% to Rs 327.3 crore Vs Rs 252.7 crore
GMR Airports Infrastructure Q4 (Consolidated YoY)
Net loss narrows to Rs 167.6 crore Vs loss of Rs 638.9 crore
Revenue jumps 29.5% to Rs 2,446.8 crore Vs Rs 1,889.7 crore
Bata India Q4 (Consolidated YoY)
Profit declines 3% to Rs 63.6 crore Vs Rs 65.6 crore
Revenue rises 2.5% to Rs 797.9 crore Vs Rs 778.6 crore
Board announces a dividend of Rs 12 per share
G R Infraprojects Q4 (Consolidated YoY)
Profit spikes 42% to Rs 553.1 crore Vs Rs 389.7 crore
Revenue rises 1% to Rs 2,485.1 crore Vs Rs 2,461.1 crore
Exceptional gain at Rs 306.3 crore Vs Nil
Hindustan Oil Exploration Company Q4 (Consolidated YoY)
Profit declines 33.8% to Rs 70.6 crore Vs Rs 106.6 crore
Revenue jumps 71% to Rs 330.6 crore Vs Rs 193.4 crore
Exceptional gain of Rs 32.86 crore Vs Nil
Mishra Dhatu Nigam Q4 (Consolidated YoY)
Profit declines 30% to Rs 46.3 crore Vs Rs 66.3 crore
Revenue jumps 17.7% to Rs 405.5 crore Vs Rs 344.6 crore
MTNL Q4 (Consolidated YoY)
Loss widens to Rs 783.7 crore Vs loss of Rs 748.6 crore
Revenue falls 4.6% to Rs 209 crore Vs Rs 219.2 crore
MM Forgings Q4 (Consolidated YoY)
Profit rises 18.2% to Rs 36.2 crore Vs Rs 30.6 crore
Revenue up 2.4% at Rs 396.8 crore Vs Rs 387.4 crore
AGS Transact Technologies Q4 (Consolidated YoY)
Loss narrows to Rs 4.4 crore Vs loss of Rs 15.4 crore
Revenue declines 17.8% to Rs 349.2 crore Vs Rs 424.7 crore
Board re-appoints Ravi B Goyal as the Managing Director of the company
Ion Exchange (India) Q4 (Consolidated YoY)
Profit falls 10.8% to Rs 72.5 crore Vs Rs 81.2 crore
Revenue rises 20.7% to Rs 781.8 crore Vs Rs 647.5 crore
Banco Products Q4 (Consolidated YoY)
Profit jumps 33.6% to Rs 68.2 crore Vs Rs 51 crore
Revenue rises 19.3% to Rs 730.3 crore Vs Rs 612.3 crore
RHI Magnesita Q4 (Consolidated YoY)
Loss narrows to Rs 257.9 crore Vs loss of Rs 678.9 crore
Revenue increases 7.8% to Rs 943.3 crore Vs Rs 874.8 crore
ISGEC Heavy Engineering Q4 (Consolidated YoY)
Profit falls 22.6% to Rs 72.1 crore Vs Rs 93.2 crore
Revenue declines 8.6% to Rs 1,868 crore Vs Rs 2,042.7 crore
Heritage Foods Q4 (Consolidated YoY)
Profit zooms 126% to Rs 40.5 crore Vs Rs 17.9 crore
Revenue rises 16.3% to Rs 950.6 crore Vs Rs 817.6 crore
SJVN Q4 (Consolidated YoY)
Profit jumps 255% to Rs 61.1 crore Vs Rs 17.2 crore
Revenue falls 4.1% to Rs 482.9 crore Vs Rs 503.8 crore
Exceptional gain of Rs 103.84 crore Vs loss of Rs 12.08 crore
Dredging Corporation of India Q4 (Standalone YoY)
Loss at Rs 23.5 crore Vs profit at Rs 27.2 crore
Revenue increases 4.7% to Rs 277.9 crore Vs Rs 265.4 crore
Stocks To Watch
General Atlantic Singapore Fund is likely to sell 4.1% stake in KFin Technologies and could get upsized to 6.8%, sources told CNBC-TV18. The base issue size is likely Rs 500 crore, potentially upsized to Rs 833.3 crore, with a floor price of Rs 712.50 per share. Post-transaction, General Atlantic will hold a 31.23% stake in the company.
Awfis Space Solutions
The workspace solutions provider is set to list its equity shares on May 30, with the final issue price fixed at Rs 383 per share.
Banks
S&P Global Ratings revised its rating outlook on six Indian banks (State Bank of India, HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra Bank, and Indian Bank) to Positive from Stable. This follows a similar action on the sovereign (BBB-/Positive/A-3). S&P affirmed 'BBB-' long-term and A-3 short-term ratings on these banks and upgraded the SACP of Axis Bank and ICICI Bank by one notch each.
A fire incident occurred at Unit-1 Generator Transformer in Haldia, West Bengal, owned by Haldia Energy (a wholly-owned subsidiary of CESC), causing partial disruption in plant operation. The fire has subsided, and the cause and extent of damage are being assessed. The plant has insurance coverage.
The railway company has received a Letter of Acceptance from South East Central Railway for a project worth Rs 38.10 crore, involving the provision of auto signalling with electronic interlocking in the Champa-Sakti section of Bilaspur division.
The company has received board approval for signing a Joint Venture Agreement with Indian Oil Corporation to form a joint venture company for developing green RTC/renewable projects and other new technology-based projects, subject to approval from the Ministry of Power, NITI Aayog, DIPAM, and Ministry of Finance.
The company has invested Rs 300 crore on a rights basis in the equity shares of Aditya Birla Housing Finance, maintaining its percentage shareholding, with ABHFL remaining a wholly-owned subsidiary.
The board will meet on June 3 to consider raising funds up to Rs 100 crore via non-convertible debentures on a private placement basis.
Great Eastern Shipping Company
Foreign portfolio investor Nalanda India Fund sold 20 lakh equity shares at an average price of Rs 1,045.14 per share, amounting to Rs 209 crore. As of March 2024, Nalanda held 7.37% stake or 1.05 crore shares in GE Shipping. Ghisallo Master Fund LP bought 9,94,479 shares at Rs 1,045 per share, totalling Rs 103.92 crore.
Societe Generale bought 13,08,680 shares at an average price of Rs 724.55 per share. General Atlantic Singapore Fund FII Pte and Asia Opportunities V (Mauritius) sold 58 lakh shares each at Rs 727.47 and Rs 727.26 per share, respectively, totalling Rs 844 crore. As of March 2024, General Atlantic Singapore Fund had held 9.82% stake and Asia Opportunities V had 9.88% in PNB Housing.
F&O ban
GMR Airports Infrastructure, Aditya Birla Fashion & Retail, Hindustan Copper, Vodafone Idea
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