New Delhi: Indian indices outperformed last week, with the Sensex and Nifty hitting new highs. Amid brokerage reports indicating a 23,000 hit for the Nifty in the event of a majority for the incumbent government in the ongoing Lok Sabha polls, markets remain in wait-and-watch mode. All eyes will be on the release of GDP growth data for Q3, as well as key economic performance indicators this week. HEre are stocks that are likely to be in focus during the day’s trade on Monday:
MM Forgings
The company’s board is set to meet this week to discuss its first-ever bonus share issue with its March quarter results.
Hindustan Copper
The company reported Q4 consolidated net profit of Rs 124.8 crore, down from Rs 132.2 crore in the year ago period. The company’s revenues stood at Rs 565 crore, compared to Rs 559 crore in the year ago period.
Divi’s Laboratories
The company reported consolidated Q4 net profit of Rs 538 crore, compared to Rs 321 crore in the year ago period. The company’s revenues jumped to Rs 2,303 crore from Rs 1,950 crore in the year ago period.
Adani Ports
The Adani Group company will be included in the 30-share BSE Sensex from June 24, 2024, replacing IT giant Wipro, in a big boost for the former.
NTPC
The PSU company reported lower than expected margin, even as its consolidated Q4 net profit jumped 33 per cent to Rs 6,490.05 crore. The company’s board has given its go ahead for the incorporation of a new entity for nuclear energy.
Sundaram Finance
The company reported a 25 per cent rise in full year FY24 disbursements to Rs 26,163 crore from Rs 20,966 crore in the year ago period.
Cochin Shipyard
The company’s Q4 net profit jumped to Rs 39.3 crore while revenues were up 11 per cent to Rs 1,286 crore. EBITDA rose to Rs 288.3 crore.
EaseMyTrip
The travel booking platform’s founder Nishant Pitti said he had withdrawn from the race to bid for Go First’s jets after the court ordered for its aircraft to be deregistered.
Reliance Industries
The Mukesh Ambani-led company has inked an agreement with Norway’s Nel to license technology for alkaline electrolysers and manufacture the same for captive purposes.
GAIL
The state-owned company has commissioned its green hydrogen plant in Vijaipur, Madhya Pradesh. The company has imported a 10-megawatt electrolyser for the plant from Canada. The plant is envisaged to produce 4.3 tonnes of green hydrogen per day.
Stocks to Watch: Adani Ports, Divi’s Labs, NTPC, and Sundaram Finance, among other stocks are likely to remain in focus during the day’s trade on Monday, May 27, 2024. As Indian indices touched new highs last week, all eyes will be on the cyclonic conditions in eastern India, the north India heatwave, and the next phase of polls after the 6th phase concluded on Saturday. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
