Stocks to Watch: Info Edge, KEC International, RITES, NHPC, NTPC, NPST, Poonawalla Fincorp, Uflex, Delhivery, Redtape in Focus
Stock Market Update: Key Developments in Today's Trade
The stock market is set to witness significant action today with several companies releasing their quarterly earnings. Among the notable releases are Tata Consultancy Services, Anand Rathi Wealth, GM Breweries, and Rajputana Stainless.
Quarterly Business Update
Info Edge India, a leading online classifieds company, has reported its Q4 (Year-over-Year) results. Standalone billings rose 7.45% to Rs 1,057.1 crore, compared to Rs 983.8 crore in the previous year. The recruitment solutions business grew 9.5% to Rs 810.7 crore, while 99acres increased 1.9% to Rs 162.8 crore. Jeevansathi jumped 21% to Rs 38.6 crore, while Shiksha fell 12.9% to Rs 45.1 crore.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
| Business Segment | Q4 (YoY) |
|---|---|
| Standalone Billings | 7.45% to Rs 1,057.1 crore |
| Recruitment Solutions | 9.5% to Rs 810.7 crore |
| 99acres | 1.9% to Rs 162.8 crore |
| Jeevansathi | 21% to Rs 38.6 crore |
| Shiksha | -12.9% to Rs 45.1 crore |
Stocks to Watch
KEC International has secured orders worth Rs 2,518 crore in the civil, transportation & distribution, and cable & conductors segments. Lupin has received approval from the US FDA for Dapagliflozin and Metformin Hydrochloride extended-release tablets. RITES has received engineering & project management consultancy work for the construction of a railway siding at Sankerjang in Phase-I for the Utkal-D coal mines.
| Company | Order Value |
|---|---|
| KEC International | Rs 2,518 crore |
| RITES | Rs 118.89 crore |
Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
NHPC has received approval for an investment of Rs 26,069.50 crore for the construction of the 1,720 MW Kamala Hydro Electric Project (HEP) in Arunachal Pradesh. The estimated completion period for the project is 96 months. NTPC has signed a non-binding Memorandum of Understanding (MoU) with Électricité de France (EDF) to explore cooperation in developing new nuclear power projects in India.
Recent Developments
Redtape has acquired the international sports footwear brand Sprandi for India, Nepal, Bhutan, and Sri Lanka. Jet Airways' assets have been put up for sale through an e-auction. Ace Aviation XIV is the successful bidder for both aircraft, with a total bid amount of Rs 568.17 crore against a reserve price of Rs 356.75 crore. Bosch has approved the acquisition of Bosch Chassis Systems India (RBIC) from its existing shareholders for Rs 9,068.68 crore.
Bulk and Block Deals
Nexus Ventures III and Nexus Opportunity Fund sold 1.04 crore shares and 15.62 lakh shares in Delhivery for Rs 461.3 crore and Rs 69.08 crore, respectively. ICICI Prudential Life Insurance Company, SBI Mutual Fund, Alphamine Absolute Return Fund, Edelweiss Mutual Fund, BNP Paribas Financial Markets, and Nippon India Mutual Fund were buyers of 1.2 crore shares. The transaction price for the block deals in Delhivery was Rs 442 per share.
Stock Trades Ex-Date for Rights
Automobile Products of India is scheduled to go ex-date for rights.
More in Market
Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
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Indian Stocks to Watch: BHEL, Agarwal Industrial, JBM Auto, Rajesh Exports, Indian Energy Exchange, Lenskart Solutions in Market Focus on June 4.
