Buzzing Stocks:
- Tata Motors: The passenger and commercial vehicle manufacturer reported a consolidated net profit of Rs 17,407 crore for the quarter ended March FY24, marking a 222 percent growth over the corresponding period of the previous fiscal year.
- Eicher Motors: The automobile company recorded a standalone net profit of Rs 983.3 crore for the March FY24 quarter, reflecting a 32 percent increase compared to the same period in the previous fiscal year.
- ICICI Bank: Bijith Bhaskar, Head of Cards, Payment Solutions, E-Commerce Ecosystem, Merchant Ecosystem, and Consumer Finance, has resigned from the bank’s senior management personnel group, effective May 18.
- Union Bank of India: The public sector lender witnessed a 19 percent year-on-year growth in net profit at Rs 3,311 crore for the fourth quarter of fiscal year 2024, alongside a 20 percent decline in provisions.
- Zydus Lifesciences: The pharmaceutical company has received final approval from the United States Food and Drug Administration (USFDA) to market Dexamethasone tablets in the US.
Stocks to Watch:
- Wipro: Vinay Firake has been appointed as the Chief Executive Officer, APMEA (Asia Pacific, India, Middle East, and Africa) strategic market unit (SMU) with effect from May 11.
- JSW Steel: The company reported consolidated crude steel production for April 2024 at 21.21 lakh metric tonnes, a 0.4 percent increase year-on-year.
- Bank of India: The public sector lender recorded a net profit of Rs 1,438.9 crore for the March FY24 quarter, rising 6.55 percent year-on-year.
- Housing & Urban Development Corporation: The company has signed a Memorandum of Understanding (MoU) with Surat Integrated Transportation Development Corporation (SITCO) for the construction and development of the Surat Multi Modal Transportation Hub (SMMTH).
