GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by just 56 points or 0.25% at 22,675 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Tuesday, the NSE Nifty 50 ended down by 38.55 points or 0.17% to settle at 22,604.85 while the BSE dropped 188.50 points or 0.25% to 74,482.78.
“Global markets remained mixed ahead of US FED policy meet, as markets appear to have already factored in the slim chance of a near-term rate cut. Profit booking ensued towards a close given the sharp rally in the last couple of days and a holiday-led truncated week,” said Vinod Nair, Head of Research, Geojit Financial Services.
Nair also added that Domestic initial Q4 corporate earnings forecasts were conservative; however, Nifty50 companies’ earnings till date have remained marginally better, with the exception being the IT sector, while auto and realty continue to be robust.
Stocks to Watch on May 2, 2024
Adani Total Gas
Adani Total Gas has reported a 5.09% increase in consolidated revenue, reaching Rs 1,167 crore compared to Rs 1,115 crore in the previous year. The company’s EBITDA surged by 47.57% to Rs 288.02 crore from Rs 195.17 crore, with margins rising by 717 basis points to 24.68% from 17.5%. Net profit stood at Rs 168 crore compared to Rs 97.91 crore in the corresponding period. The board has recommended a dividend of Rs 0.25 per share.
Indus Tower
The company reported a 6.52% increase in revenue, reaching Rs 7,193 crore compared to Rs 6,753 crore in the previous year. EBITDA surged by 19.03% to Rs 4,103 crore from Rs 3,447 crore, with margins climbing by 599 basis points to 57.03% from 51.03%. Net profit also witnessed a substantial growth of 32.44% to Rs 1,853.1 crore compared to Rs 1,399 crore in the corresponding period.
Ambuja Cement
The company reported revenue of Rs 4,780.32 crore, marking a notable increase of 12.31% from Rs 4,256.31 crore in the previous year. However, despite the revenue growth, the EBITDA only saw a marginal rise of 1.2% to Rs 797.79 crore compared to Rs 788.26 crore. The margin, on the other hand, experienced a downturn, dropping to 16.68% from 18.51%, down by 183 basis points. Net profit displayed a moderate increase of 5.94% to Rs 532.29 crore from Rs 502.4 crore. Additionally, the board has proposed a final dividend of Rs 2 per share.
Adani Wilmar
The company reported revenue of Rs 13,238.04 crore, marking a decrease of 4.58% from Rs 13,872.64 crore in the previous year. However, amidst this decline, there was a significant improvement in EBITDA, which surged by 103.81% to Rs 363 crore compared to Rs 178.1 crore. Consequently, the margin witnessed an increase, rising to 2.74% from 1.28%, reflecting a gain of 145 basis points. Net profit also experienced a substantial rise, soaring by 67.45% to Rs 156.75 crore from Rs 93.61 crore.
Orient Cement
The company’s revenue stood at Rs 888.02 crore, indicating a growth of 1.36% from Rs 876.03 crore in the corresponding period. Additionally, there was a notable improvement in EBITDA, which rose by 6.19% to Rs 148.09 crore compared to Rs 139.45 crore. The margin also saw a positive uptick, climbing to 16.67% from 15.91%, representing an increase of 75 basis points. Net profit witnessed a slight rise of 1.21% to Rs 68.19 crore from Rs 67.37 crore. Moreover, the board has recommended a final dividend of Rs 1.5 per share.
Adani Power
The company reported revenue of Rs 13,363.69 crore, marking a substantial increase of 30.47% from Rs 10,242.06 crore in the previous year. Moreover, EBITDA rose by 154.25% to Rs 4,849.74 crore compared to Rs 1,907.41 crore. Margin jumped to 36.29% from 18.62%, up by 1766 basis points. However, the net profit witnessed a decline, dropping by 47.78% to Rs 2,737.24 crore from Rs 5,242.48 crore.
Godrej Group
The 127-year-old conglomerate, Godrej, is poised for a division into two branches within the family. Adi and Nadir Godrej will retain control of Godrej Industries, which includes its five listed companies. Meanwhile, cousins Jamshyd Godrej and Smita Crishna will take charge of the unlisted entity, Godrej & Boyce.
BSE
Bombay Stock Exchange (BSE) announced on Tuesday its decision to increase transaction charges for its primary options contracts tied to the Sensex and Bankex indexes, effective May 13.
TVS Motors
TVS Motor Company announced on Wednesday that its total sales for April 2024 surged by 25% year-on-year, reaching 383,615 units compared to 306,224 units dispatched to its dealers in the corresponding month last year, as per the company’s statement.
Tata Motors
Tata Motors has registered total passenger vehicle sales of 47,983 units in April 2024, registering a YoY growth of 2%. Out of total sales, domestic sales accounted for 47,883 units, while exports accounted for 100 units. Tata’s domestic sales has seen 2 percent growth.
Maruti Suzuki
Maruti Suzuki, India’s premier car manufacturer, reported total sales of 168,089 units in April 2024, with passenger vehicles comprising 137,952 units. The company witnessed a marginal growth of 0.4% compared to April 2023.
Rail Vikas Nigam
RVNL emerged as the lowest bidder for a construction project worth Rs 391 crore.
Kotak Mahindra Bank
Kotal Mahindra Bank announced the resignation of KVS Manian, its joint managing director, with immediate effect.
Mahindra and Mahindra Financial Services
The Company have appointed Raul Rebello as Executive Director and Managing Director & CEO, effective May 1, transitioning from his previous role as a whole-time Director.
Key Earnings Today
Adani Ports and Special Economic Zone, Adani Enterprises, Coal India, Dabur India, Federal Bank, Coforge, KEI Industries, KPR Mills, Ajanta Pharma, Blue Star, CIE Automotive India, Blue Dart Express, Ramkrishna Forgings, Railtel, CEAT, Voltamp Transformers, South Indian Bank, UGRO Capital, Astec Lifesciences, JBM Auto.
