Stocks in the news: SBI, Asian Paints, L&T, Bank of Baroda, Wipro, Tata Power and BSE
SBI, Asian Paints, PNB, Bharat Petroleum, Indian Overseas Bank, Hindustan Petroleum, Abbott, Escorts Kubota, Timken and Intellect Design Arena will announce their quarterly results later today.
- May 9, 2024,
- Updated May 9, 2024 8:10 AM IST
Indian headline indices settled flat on Wednesday, almost unchanged for the day as the Q4 earnings entered in the final leg. BSE Sensex shed merely 45.46 points, or 0.06 per cent to settle at 73,466.39. NSE's Nifty50 index ended with no change at 22,302.50, the level of its previous close. Here are the stocks that may remain under spotlight before the opening bell on Thursday, May 9, 2024:
Q4 results today: State Bank of India, Asian Paints, Punjab National Bank, Bharat Petroleum Corporation, Indian Overseas Bank, Hindustan Petroleum Corporation, Abbott India, Escorts Kubota, Timken India, Relaxo Footwears, TVS Holdings, Nexus Select Trust REIT, Alembic Pharmaceuticals and Intellect Design Arena will announce their March 2024 quarter results later today.
Larsen and Toubro: The Infra major has recorded net profit at Rs 4,396 crore for quarter ended March 2024, growing 10 per cent YoY with a healthy topline, but operating margins were weak. Revenue from operations increased 15 per cent YoY to Rs 67,079 crore for the quarter.
Wipro: The technology services and consulting company announced a collaboration with Kognitos Inc. to deploy enterprise-ready GenAI-based business automation solutions. Also, Wipro’s corporate investment arm, Wipro Ventures invested in Kognitos as part of the firm’s Series A funding round.
HDFC Life Insurance Company: The Insurance Regulatory and Development Authority of India (IRDAI) has given its approval for the appointment of Keki Mistry as chairman of the board of the company. On April 18, the company board appointed Keki M. Mistry as the chairman.
NTPC: The power giant's subsidiary NTPC Green Energy signed a Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology for the development of renewable energy power parks and projects.
Tata Power: The Tata Group company reported consolidated net profit at Rs 895.2 crore for March 2024 quarter, rising 15.1 per cent over the corresponding period of previous fiscal despite lower operating margin that was impacted by cost of fuel. Revenue from operations jumped 27.2 per cent on-year to Rs 15,846.6 crore for the quarter.
Bank of Baroda: The Reserve Bank of India lifted the restrictions on Bob World with immediate effect. The PSU bank will now resume onboarding new customers into the Bob World application. In October 2023, the RBI directed the Bank of Baroda to suspend any further onboarding of customers onto its 'Bob World' mobile application based on certain supervisory concerns.
TVS Motor: The auto maker reported a standalone net profit at Rs 485.4 crore for March 2024 quarter, increasing 18.3 per cent over the same period previous fiscal, with healthy topline and operating numbers. Revenue from operations rose 23.7 per cent YoY to Rs 8,168.8 crore for the quarter.
NBCC: The state-owned construction company has secured work orders worth Rs 250 crore and 150 crore in Chhattisgarh and Kerala, respectively.
BSE: The exchange reported consolidated net profit at Rs 106.9 crore for March quarter of FY24, growing 20.6 per cent YoY with healthy topline growth but impacted by provision of Rs 169.77 crore for SEBI regulatory fee. Revenue from operations surged 110.4 per cent YOY Rs 544.8 crore for the quarter. The board recommended payment of final dividend of Rs 15 per equity share.
Rail Vikas Nigam: The railway company has received a letter of acceptance from SER HQ-Electrical/South Eastern Railway for a project worth Rs 167.3 crore. It will do design, supply, erection, testing, and commissioning for the upgrade of the electric traction system for the Rajkharsawan-Nayagarh-Bolani section of the Chakradharpur division to meet the 3000 MT loading target.
Gujarat State Petronet: The natural gas distributor recorded a consolidated net profit of Rs 663.1 crore for the March 2024 quarter, up 22.2 per cent YoY, partly driven by exceptional gains and healthy operating numbers. Revenue from operations increased by 6 per cent YoY to Rs 4,532.2 crore for the quarter.
Indian headline indices settled flat on Wednesday, almost unchanged for the day as the Q4 earnings entered in the final leg. BSE Sensex shed merely 45.46 points, or 0.06 per cent to settle at 73,466.39. NSE's Nifty50 index ended with no change at 22,302.50, the level of its previous close. Here are the stocks that may remain under spotlight before the opening bell on Thursday, May 9, 2024:
Q4 results today: State Bank of India, Asian Paints, Punjab National Bank, Bharat Petroleum Corporation, Indian Overseas Bank, Hindustan Petroleum Corporation, Abbott India, Escorts Kubota, Timken India, Relaxo Footwears, TVS Holdings, Nexus Select Trust REIT, Alembic Pharmaceuticals and Intellect Design Arena will announce their March 2024 quarter results later today.
Larsen and Toubro: The Infra major has recorded net profit at Rs 4,396 crore for quarter ended March 2024, growing 10 per cent YoY with a healthy topline, but operating margins were weak. Revenue from operations increased 15 per cent YoY to Rs 67,079 crore for the quarter.
Wipro: The technology services and consulting company announced a collaboration with Kognitos Inc. to deploy enterprise-ready GenAI-based business automation solutions. Also, Wipro’s corporate investment arm, Wipro Ventures invested in Kognitos as part of the firm’s Series A funding round.
HDFC Life Insurance Company: The Insurance Regulatory and Development Authority of India (IRDAI) has given its approval for the appointment of Keki Mistry as chairman of the board of the company. On April 18, the company board appointed Keki M. Mistry as the chairman.
NTPC: The power giant's subsidiary NTPC Green Energy signed a Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology for the development of renewable energy power parks and projects.
Tata Power: The Tata Group company reported consolidated net profit at Rs 895.2 crore for March 2024 quarter, rising 15.1 per cent over the corresponding period of previous fiscal despite lower operating margin that was impacted by cost of fuel. Revenue from operations jumped 27.2 per cent on-year to Rs 15,846.6 crore for the quarter.
Bank of Baroda: The Reserve Bank of India lifted the restrictions on Bob World with immediate effect. The PSU bank will now resume onboarding new customers into the Bob World application. In October 2023, the RBI directed the Bank of Baroda to suspend any further onboarding of customers onto its 'Bob World' mobile application based on certain supervisory concerns.
TVS Motor: The auto maker reported a standalone net profit at Rs 485.4 crore for March 2024 quarter, increasing 18.3 per cent over the same period previous fiscal, with healthy topline and operating numbers. Revenue from operations rose 23.7 per cent YoY to Rs 8,168.8 crore for the quarter.
NBCC: The state-owned construction company has secured work orders worth Rs 250 crore and 150 crore in Chhattisgarh and Kerala, respectively.
BSE: The exchange reported consolidated net profit at Rs 106.9 crore for March quarter of FY24, growing 20.6 per cent YoY with healthy topline growth but impacted by provision of Rs 169.77 crore for SEBI regulatory fee. Revenue from operations surged 110.4 per cent YOY Rs 544.8 crore for the quarter. The board recommended payment of final dividend of Rs 15 per equity share.
Rail Vikas Nigam: The railway company has received a letter of acceptance from SER HQ-Electrical/South Eastern Railway for a project worth Rs 167.3 crore. It will do design, supply, erection, testing, and commissioning for the upgrade of the electric traction system for the Rajkharsawan-Nayagarh-Bolani section of the Chakradharpur division to meet the 3000 MT loading target.
Gujarat State Petronet: The natural gas distributor recorded a consolidated net profit of Rs 663.1 crore for the March 2024 quarter, up 22.2 per cent YoY, partly driven by exceptional gains and healthy operating numbers. Revenue from operations increased by 6 per cent YoY to Rs 4,532.2 crore for the quarter.