Stocks In Focus: Investors should keep an eye on several stocks today, May 17th:
Mahindra & Mahindra: M&M posted a 31.6% YoY increase in net profit for Q4FY24, reaching ₹2,038.21 crore. Revenue from operations rose by 11.24% to ₹25,108.97 crore. The board recommended a dividend of ₹21.10 per share and approved a ₹12,000 crore investment in its EV unit, Mahindra Electric Automobile Ltd (MEAL).
Vedanta: Plans to raise ₹8,500 crore through equity or debt. Declared an interim dividend costing ₹4,089 crore and announced investment in Saudi Arabian unit, Vedanta Copper International Ltd (VCI), for a continuous cast copper rod plant.
HAL: Reported a 52.2% YoY increase in profit to ₹4,308.7 crore. Delivered an EBITDA margin of 40% for the March quarter and reported revenue of ₹30,380 crore for financial year 2024.
Vodafone Idea: Widened losses to ₹7,666 crore in Q4FY24. Revenues improved marginally to ₹10,639 crore. In talks with lenders for debt funding of ₹35,000 crore for network expansion.
Indian Energy Exchange: Reported a 14.7% increase in consolidated net profit for FY24 to ₹350.8 crore, helped by higher trade volumes and positive regulatory changes.
Biocon: Reported a 57% decline in consolidated net profit to ₹135.5 crore in Q4FY24. Revenue from operations stood at ₹3,917 crore, up 4% YoY.
Wipro: Former CEO Thierry Delaporte sold shares worth ₹34.5 crore over the past month, totaling ₹70.63 crore since resigning on April 6.
PB Fintech: Chairman and CEO Yashish Dahiya, and Vice-Chairman Alok Bansal, set to sell a combined stake of 1.86%, valued at ₹1,053 crore.
Crompton Greaves: Net profit rose by 1.4% to ₹133.43 crore YoY, with revenue increasing by 9.5% to ₹1,961 crore. Recommended a dividend of ₹3 per share.
eClerx Services: Net profit fell by 1.5% to ₹130.5 crore YoY, while revenue rose by 10.6% to ₹766.5 crore.
Kaynes Technology: Net profit rose by 97% to ₹81.3 crore YoY, with revenue increasing by 75% to ₹637.3 crore.
Endurance Technologies: Net profit rose by 54% to ₹210 crore YoY, with revenue increasing by 20.1% to ₹2,685 crore.
Berger Paints: Net profit rose by 19.7% YoY to ₹222 crore in Q4FY24, while revenue rose marginally to ₹2,520 crore.
JK Paper: Reported a 1.7% YoY dip in net profit at ₹275.6 crore for Q4FY24, with revenue from operations remaining unchanged at ₹1,719 crore.
Akzo Nobel India: Reported a 14% YoY increase in net profit at ₹108.7 crore for Q4FY24, with revenue from operations rising 2.3% to ₹973.4 crore. Recommended a final dividend of ₹25 per equity share for FY23-24.
Restaurant Brands Asia: Consolidated net loss for Q4 widened to ₹92 crore from ₹80 crore a year ago, with revenue rising by 16% to ₹597.1 crore.
Angel One: AP Abid Ali fined ₹9 lakh for running an illegal advisory named Trade 26 Research.
Dixon Technologies: Entered into an MOU with Acerpure for manufacturing consumer appliance products, starting with TVs.
Larsen & Toubro: Wholly-owned arm L&T Valves Ltd set up a new manufacturing unit in Saudi Arabia.
Container Corporation of India: March quarter profit jumped 5.5% to ₹315.1 crore YoY, with revenue rising 6.4% to ₹2,325.1 crore.
HCL Infosystems: Won arbitration case against ITI Ltd concerning recovery of dues related to commissioning of telecom networks for BSNL and MTNL, with a monetary award of approximately ₹150 crore.
Sansera Engineering: Net profit rose by 31.2% to ₹46.5 crore YoY, with revenue increasing by 20.6% to ₹745.8 crore.
Triveni Turbine: Net profit rose by 37% to ₹76.2 crore YoY, with revenue increasing by 24% to ₹458 crore. Recommended a dividend of ₹1.3 per share.
Prince Pipes: Net profit fell by 42% to ₹54.65 crore YoY, with revenue decreasing by 3.2% to ₹740 crore. Recommended a dividend of ₹1 per share.
Krishna Institute of Medical Sciences: Net profit fell by 30% to ₹65.5 crore YoY, with revenue increasing by 10% to ₹633.8 crore.
Varanium Cloud: Sebi imposed an immediate ban on technology company Varanium Cloud and its promoter and MD, Harshawardhan Hanmant Sabale, for alleged misuse of IPO proceeds.
Patanjali Foods: Decided to divest its stake in Ruchi Ethiopia Holdings Ltd as part of a resolution plan approved by NCLT Mumbai bench under Section 31 of the Insolvency and Bankruptcy Code, 2016.
