Let's catch up on the latest news from the stock market. From significant investments to major deals and earnings announced on May 28 to earnings announcements expected on Wednesday (May 29), here's a quick look at which stocks will be in focus in trade on Wednesday.
Earnings Expected on Wednesday
More than 550 companies will announce their quarterly earnings on May 29 including Tata Steel, Aadhar Housing Finance, Alkem Laboratories, Bata India, Cummins India, Deepak Fertilisers & Petrochemicals Corporation, Emami, GMR Airports Infrastructure, Indegene, Ipca Laboratories, Jubilant Pharmova, Lemon Tree Hotels, Mazagon Dock Shipbuilders, Samvardhana Motherson International, and Shree Renuka Sugars.
Earnings Announced Post Market Hours on May 28
Aster DM Healthcare Q4 (Consolidated YoY)
Loss at Rs 24 crore Vs profit of Rs 170.8 crore
Revenue grows 20.65% to Rs 973.6 crore Vs Rs 806.9 crore
EBITDA jumps 28.5% to Rs 159.3 crore Vs Rs 124 crore
Margin expands 100 bps to 16.4% Vs 15.4%
Dynamatic Technologies Q4 (Consolidated YoY)
Profit surges over 3-fold to Rs 57.11 crore Vs Rs 17.56 crore
Revenue grows 0.7% to Rs 370.4 crore Vs Rs 367.9 crore
Exceptional gain at Rs 44.68 crore Vs Nil
Greenlam Industries Q4 (Consolidated YoY)
Profit declines 10.9% to Rs 40.97 crore Vs Rs 46 crore
Revenue rises 16.9% to Rs 624.09 crore Vs Rs 533.8 crore
Finance cost doubles to Rs 13.38 crore Vs Rs 6.46 crore
Engineers India Q4 (Consolidated YoY)
Profit plunges 39.3% to Rs 115.5 crore Vs Rs 190.2 crore
Revenue falls 8.5% to Rs 805.1 crore Vs Rs 880 crore
ITI Q4 (Consolidated YoY)
Loss widens to Rs 238.8 crore Vs Rs 72 crore
Revenue declines 22.4% to Rs 601.3 crore Vs Rs 775.3 crore
EBITDA loss rises to Rs 173.8 crore Vs loss Rs 6.2 crore
Epack Durable Q4 (Consolidated YoY)
Profit falls 16.5% to Rs 27.8 crore Vs Rs 33.3 crore
Revenue dips 17.7% to Rs 525.7 crore Vs Rs 639 crore
PTC Industries Q4 (Consolidated YoY)
Profit spikes 60% to Rs 14.7 crore Vs Rs 9.2 crore
Revenue rises 16.4% to Rs 72.4 crore Vs Rs 62.2 crore
MTAR Technologies Q4 (Consolidated YoY)
Profit sinks 84.3% to Rs 4.87 crore Vs Rs 31 crore
Revenue slips 27.2% to Rs 143 crore Vs Rs 196.4 crore
TCPL Packaging Q4 (Consolidated YoY)
Profit jumps 20.2% to Rs 29 crore Vs Rs 24.2 crore
Revenue rises 4.7% to Rs 400.5 crore Vs Rs 382.6 crore
Board announces a dividend of Rs 22 per share
Board appoints KK Kanoria as Executive Chairman of the company effective October 1, 2024
Company to establish a greenfield facility in Southern India for manufacturing folding cartons
Wockhardt Q4 (Consolidated YoY)
Loss narrows to Rs 177 crore Vs loss of Rs 237 crore
Revenue rises 3.2% to Rs 700 crore Vs Rs 678 crore
EBITDA loss at Rs 103 crore Vs EBITDA profit at Rs 3 crore
Exceptional item at Nil Vs loss at Rs 96 crore
Impairment of assets held for sale at Rs 79 crore Vs Nil
Board reappoints Habil Khorakiwala as an Executive Chairman of Wockhardt
Gujarat Narmada Valley Fertilizers & Chemicals Q4 (Consolidated YoY)
Profit tanks 61.3% to Rs 130 crore Vs Rs 336 crore
Revenue declines 7% to Rs 2,110 crore Vs Rs 2,271 crore
Board announces a dividend of Rs 16.50 per share
Indian Railway Catering and Tourism Corporation (IRCTC) Q4 (Consolidated YoY)
Profit grows 1.9% YoY to Rs 284.2 crore Vs Rs 278.8 crore
Revenue jumps 19.7% to Rs 1,154.8 crore Vs Rs 965 crore
Exceptional gain at Rs 7.88 crore Vs Rs 25.8 crore
Board announces a final dividend of Rs 4 per share
RR Kabel Q4 (Consolidated YoY)
Profit rises 20.6% YoY to Rs 78.7 crore Vs Rs 65.3 crore
Revenue jumps 15.7% to Rs 1,754 crore Vs Rs 1,516.5 crore
Aditya Birla Fashions and Retail Q4 (Consolidated YoY)
Loss widens to Rs 266.4 crore Vs loss of Rs 194.5 crore
Revenue rises 18.3% to Rs 3,406.7 crore Vs Rs 2,879.7 crore
Seamec Q4 (Consolidated YoY)
Profit stands at Rs 52.7 crore Vs loss of Rs 4.8 crore
Revenue jumps 87.8% to Rs 236.4 crore Vs Rs 125.8 crore
Amara Raja Energy & Mobility Q4 (Consolidated YoY)
Profit zooms 61.3% to Rs 229.8 crore Vs Rs 142.4 crore
Revenue rises 19.5% to Rs 2,907.9 crore Vs Rs 2,433.2 crore
Exceptional item at Nil Vs loss at Rs 47.65 crore
Jagran Prakashan Q4 (Consolidated YoY)
Profit falls 74.1% to Rs 6 crore Vs Rs 23.3 crore
Revenue rises 10.9% to Rs 509.6 crore Vs Rs 459.4 crore
Exicom Tele-Systems Q4 (Consolidated YoY)
Profit drops 0.5% to Rs 27.5 crore Vs Rs 27.6 crore
Revenue declines 13% to Rs 300.9 crore Vs Rs 346.2 crore
Brigade Enterprises Q4 (Consolidated YoY)
Profit spikes 234.2% to Rs 210.9 crore Vs Rs 63.1 crore
Revenue jumps 102% to Rs 1,702.4 crore Vs Rs 842.6 crore
NBCC Q4 (Consolidated YoY)
Profit rises 24.5% to Rs 141.5 crore Vs Rs 113.6 crore
Revenue increases 43% to Rs 4,024.5 crore Vs Rs 2,813.4 crore
India Glycols Q4 (Consolidated YoY)
Profit increases 6% to Rs 42.2 crore Vs Rs 39.8 crore
Revenue jumps 26.2% to Rs 2.039.1 crore Vs Rs 1,615.7 crore
EPL Q4 (Consolidated YoY)
Profit sinks 82.2% to Rs 15.1 crore Vs Rs 85.1 crore
Revenue rises 6.2% to Rs 1,029.2 crore Vs Rs 969.3 crore
Exceptional loss at Rs 60.5 crore Vs Nil
Other income down at Rs 16.1 crore Vs Rs 26.8 crore
Medplus Health Services Q4 (Consolidated YoY)
Profit rises 26.4% to Rs 33.6 crore Vs Rs 26.6 crore
Revenue zooms 19% to Rs 1,490.5 crore Vs Rs 1,253 crore
Stocks To Watch
The housing finance company may see a block deal of Rs 500 crore on May 29, according to CNBC Awaaz sources. Asia Opportunities V Mauritius and General Atlantic Singapore Fund are likely sellers in the deal. The block deal is expected to involve the sale of 69.6 lakh shares of the company, with the floor price set at Rs 717 per share.
Aditya Birla-subsidiary Novelis Inc has filed for an IPO in the US, offering 45 million shares in a price band of $18-21 per share. The company plans to raise $945 million at the upper end of the price band, targeting a valuation of up to $12.6 billion. Novelis has applied to list its common shares on the New York Stock Exchange under the ticker ‘NVL’.
Reliance Industries, the operator of the world’s biggest refining complex, has signed a one-year deal with Russia’s Rosneft to buy at least 3 million barrels of oil a month in roubles, four sources aware of the matter told Reuters.
The bank announced that a meeting of the Board of Directors is scheduled to be held on May 31 to consider the capital raising plan for the financial year 2024-25.
Birla Group Holdings Private Limited (BGHPL), one of the key promoters of Grasim Industries, has increased its stake from 19.10% to 23.18% in the company. The increase in stake follows the amalgamation of Umang Commercial Company Private Limited and other entities with BGHPL, as sanctioned by the National Company Law Tribunal (NCLT).
Rangarajan BN has resigned as Chief Risk Officer of the company to pursue opportunities outside his professional life, effective July 15, 2024. The board has approved the appointment of Khushru Sidhwa as Chief Risk Officer of the company, effective July 16.
The company has signed an MoU with Hindustan Petroleum Corporation to collaborate on a conventional and alternative energy portfolio.
City Union Bank has received approval from the Reserve Bank of India for the appointment of R Vijay Anandh as Whole-time Director - Executive Director of the bank for three years. Currently, R Vijay Anandh is the Executive President of the bank.
NMDC will act as the distributor/stockist for NMDC Steel. It will take up the marketing and sales of HR coils, sheets, and plates of NMDC Steel.
Subhash Chand Agrawal has resigned as Chief Financial Officer of the company to pursue professional goals outside the organization. His last working day with the organization will be June 30, 2024.
Mirik Rajendra Gogri, part of the promoter group, sold 4,68,378 equity shares (equivalent to 0.5% of paid-up equity) in the company at an average price of Rs 485.5 per share. However, Blend Fund 2 bought 5,11,571 equity shares in the company at Rs 484.97 per share.
1575773 Ontario Inc sold 35,48,211 equity shares (equivalent to 3.39% of paid-up equity) in the company at an average price of Rs 1,361.26 per share via open market transactions, valuing the sale at Rs 483 crore. However, Norges Bank on behalf of the Government Pension Fund Global bought 6 lakh shares at an average price of Rs 1,386.95 per share.
Promoter Inox Wind Energy sold 5.5 crore equity shares in the company at an average price of Rs 150.58 per share, and 50 lakh shares at an average price of Rs 152.52 per share, which is equivalent to 18.4% of paid-up equity, valued at Rs 904.45 crore. However, BNP Paribas Arbitrage, Goldman Sachs (Singapore) Pte, Morgan Stanley Asia Singapore Pte, and Okoworld Okovision Classic purchased 1,60,66,000 equity shares (equivalent to 4.9% of paid-up equity) at an average price of Rs 150 per share, amounting to Rs 240.99 crore.
Foreign investor Tencent Cloud Europe BV sold 55 lakh equity shares in the Policybazaar operator at an average price of Rs 1,208.2 per share, valued at Rs 664.51 crore. As of March 2024, Tencent held a 6.26% stake or 2.82 crore shares.
Prudent Corporate Advisory Services
Canara Robeco Mutual Fund, DSP Mutual Fund, and Kotak Mahindra Mutual Fund bought 22,05,573 equity shares (equivalent to 5.3% of paid-up equity) in the company at an average price of Rs 1,650 per share, valuing the purchase at Rs 363.9 crore. However, foreign investor TA FDI Investors exited the company by selling their entire shareholding of 29,16,961 equity shares (7.04% stake) at an average price of Rs 1,650.05 per share, amounting to Rs 481.3 crore.
F&O Ban
Aditya Birla Fashion & Retail, Biocon, Hindustan Copper, Vodafone Idea, and Piramal Enterprises
Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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