Stocks to Watch: Hindalco, AB Capital, ASK Automotive, Dredging Corp, PTC India, Mankind Pharma, Karnataka Bank, Zee Entertainment in Focus on May 20.
Stock Market Update: Key Earnings and Deals to Watch
The stock market is expected to witness significant activity today as several key companies announce their quarterly earnings. Here's a rundown of the top stocks to watch:
Results Today
A total of 28 companies, including Grasim Industries, Apollo Hospitals Enterprise, Lenskart Solutions, Ola Electric Mobility, Bosch, and Whirlpool of India, among others, will announce their quarterly earnings today.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Quarterly Earnings Comparison
| Company | Q4 Earnings (YoY) | Revenue Growth (YoY) |
|---|---|---|
| Hindalco Subsidiary Novelis Inc. | Loss: $84 million (Vs. profit: $294 million) | 4.4% (to $4,787 million) |
| Bharat Petroleum Corporation | 0.7% decline in profit (to Rs 3,191.5 crore) | 6.7% growth (to Rs 1,18,649.4 crore) |
| Zee Entertainment Enterprises | Loss: Rs 102.4 crore (Vs. profit: Rs 188.4 crore) | 7.3% decline (to Rs 2,024.8 crore) |
| Trident | 23.5% decline in profit (to Rs 102 crore) | 12.4% decline (to Rs 1,632.5 crore) |
| Borosil | 5% decline in profit (to Rs 10.6 crore) | 5.2% growth (to Rs 284.1 crore) |
| Orkla India | 108.4% growth in profit (to Rs 73.4 crore) | 5% growth (to Rs 625.8 crore) |
| Karnataka Bank | 61.7% growth in profit (to Rs 408.2 crore) | 8% growth (to Rs 843 crore) |
| Godawari Power and Ispat | 26.6% growth in profit (to Rs 280.1 crore) | 9.7% growth (to Rs 1,610.3 crore) |
| Hatsun Agro Product | 18.3% growth in profit (to Rs 50.9 crore) | 14.9% growth (to Rs 2,577.6 crore) |
| Mankind Pharma | 31.7% growth in profit (to Rs 559.4 crore) | 11.8% growth (to Rs 3,442.9 crore) |
| PTC India | 69.3% decline in profit (to Rs 105.3 crore) | 33.3% growth (to Rs 3,897.5 crore) |
| J Kumar Infraprojects | 3.4% decline in profit (to Rs 110.3 crore) | 2.9% decline (to Rs 1,585.4 crore) |
| PNC Infratech | 42.9% growth in profit (to Rs 107.8 crore) | 5.1% decline (to Rs 1,617 crore) |
| Dredging Corporation of India | Profit of Rs 86.9 crore (Vs. loss of Rs 24.6 crore) | 73.2% growth (to Rs 478.2 crore) |
| ASK Automotive | 24.2% growth in profit (to Rs 71.5 crore) | 35% growth (to Rs 1,147.1 crore) |
Stocks to Watch
JSW Energy has executed definitive agreements to acquire an additional equity stake in Toshiba JSW Power Systems (TJPS) through a secondary purchase of equity shares from Toshiba Corporation, Japan. The total purchase consideration for the acquired shares is Rs 150 crore.
Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Sun Pharma Advanced Research Company's licensing partner, Ocuvex Therapeutics Inc., has received a Complete Response Letter (CRL) from the US Food and Drug Administration (FDA) for the PDP-716 New Drug Application (NDA).
Aditya Birla Capital has received a Certificate of Registration from the Reserve Bank of India (RBI) to commence the business of factoring.
Sula Vineyards has announced the resignation of Chief Financial Officer Abhishek Kapoor, effective July 14. Rinku More has been appointed as the Chief Financial Officer Designate and Senior Management Personnel, effective July 15.
Bulk Deals
- Jaro Institute of Technology Management and Research: Singularity Growth Opportunities Fund II exited Jaro Education by selling 2.8 lakh shares (1.27 percent stake) for Rs 14.08 crore.
- Indian Emulsifiers: Prudent Equity sold 1 lakh shares (0.54 percent stake) in speciality chemicals maker Indian Emulsifiers for Rs 51.89 lakh.
- Choksi Laboratories: Nexus Global Opportunities Fund purchased an additional 68,727 equity shares (0.98 percent stake) in Choksi Laboratories for Rs 70.82 lakh.
Stock Trades Ex-Dividend
- Great Eastern Shipping Company: Stock trades ex-date for income distribution.
- IRB InvIT Fund: Stock trades ex-date for income distribution.
- POWERGRID Infrastructure Investment Trust: Stock trades ex-date for income distribution.
- Charms Industries: Stock trades ex-date for rights.
- Integra Essentia: Stock trades ex-date for buy back.
- Garware Technical Fibres: Stock trades ex-date for rights.
Stocks in F&O Ban
- Kaynes Technology India: Stock in F&O ban.
- SAIL: Stock in F&O ban.
Investor Takeaway
Monitor quarterly earnings announcements from various companies.
More in Market
Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Indian Stocks to Watch: BHEL, Agarwal Industrial, JBM Auto, Rajesh Exports, Indian Energy Exchange, Lenskart Solutions in Market Focus on June 4.
