Stocks to Watch: Coforge, L&T, M&M, KEC International, Ajanta Pharma Expected to Drive Market Activity on May 6

Market Update: Key Stocks to Watch in Today's Trade

The Indian stock market is abuzz with activity, with several key stocks expected to be in focus in today's trade. Here's a rundown of the latest news and developments:

Results Today

Several prominent companies, including Bajaj Auto Limited, Brigade Enterprises Limited, Blue Star Limited, Godrej Consumer Products, Hexaware Technologies, Meesho, One 97 Communications, Shree Cement, Radico Khaitan, and Raymond Lifestyle, will be releasing their quarterly earnings today.

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Quarterly Earnings Announced

• Coforge reported a significant increase in net profit, rising to Rs 612 crore, up 145 percent year-over-year (YoY) from Rs 250 crore. Revenue increased to Rs 4,450 crore, up 5 percent from Rs 4,232 crore, while EBIT stood at Rs 696 crore, up 26 percent from Rs 554 crore.
• Ajanta Pharma reported a net profit of Rs 267 crore, up 18.7 percent YoY from Rs 225 crore. Revenue increased to Rs 1,422 crore, up 21.5 percent from Rs 1,170 crore, while EBITDA stood at Rs 333 crore, up 12.1 percent from Rs 297 crore.
• L&T reported a net profit of Rs 3,737 crore, up 53.3 percent YoY from Rs 2,437 crore. The company declared a dividend of Rs 33 per share.
• Mahindra and Mahindra reported a net profit of Rs 5,326 crore, down 3.1 percent YoY from Rs 5,497 crore. Revenue rose to Rs 82,762 crore, up 11.3 percent from Rs 74,392 crore, while EBITDA stood at Rs 8,610 crore, up 5 percent from Rs 8,202 crore.

Stocks in News

• Coforge: The company's amalgamation with Cigniti Technologies has become effective post NCLT order filing, and consolidation is expected to be positive for scale and capabilities. The record date for share swap will be announced soon.
• Cigniti Technologies: The company has been dissolved without winding up following the merger with Coforge, and its stock implications are now tied to the swap ratio and Coforge share issuance.
• Vikran Engineering: The company has incorporated a wholly-owned subsidiary, Vikran Renewable, for solar and integrated energy projects, signaling diversification into renewables. This move is expected to be positive in the long term but has limited near-term impact given no operations yet.
• KEC International: The company has secured new orders worth Rs 1,002 crore across T&D, renewables, transportation, and cables, supporting revenue visibility and sentiment.

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Bulk and Block Deals

• Dhara Rail Projects: India Max Investment Fund sold 80,000 shares of the company at a price of Rs 124.66 per share.
• KRM Ayurveda: Pine Oak Global Fund sold 1.13 lakh shares of the company at a price of Rs 235.62 per share.
• Macobs Technologies: Connect Fund sold 1.65 lakh shares of the company at Rs 244.48 per share. The buyer was Raman Talwar, who picked up 1.32 lakh shares.

Ex-Dividend and Buy Back

• Odyssey Technologies: The stock will trade ex-dividend today.
• Stylam Industries: The company has announced a buy back, and the stock will trade ex-date for the buy back today.