Stocks in Focus: Domestic indices may open marginally in green amid positive global cues. The Nifty futures on the Singapore Exchange (SGX) were trading 14 points or 0.07% higher at 18,704 in today’s early morning trade. Asian markets were trading mostly in green – Hong Kong’s Hang Seng rose 0.45%, China’s Shanghai Composite index climbed 0.22%, South Korea’s KOSPI jumped 0.92% while Japan’s Nikkei 225 fell 0.5%. The US market ended the overnight session broadly in green – Dow Jones Industrial Average (DJIA) jumped 1%, S&P 500 surged 1.3% and the tech-heavy Nasdaq skyrocketed 2.19%. On Monday, Nifty made an intraday high of 18,641 and fell over 40 points, settling shy of the 18,600 level, at 18,599, while Sensex ended at 62,834 after breaching the 63,000 level intraday. Sectorally, Bank Nifty hit a fresh record high at 44,483 intraday before tanking 200 points to a record closing high of 44,276.8. Nifty Metal, Nifty Consumer Durables, and Nifty Media added up to 1.32% while Nifty IT declined 0.41%.
Stocks to Watch on 30 May, 2023
Adani Ports and Special Economic Zone, Reliance Infrastructure, Mankind Pharma, Torrent Pharmaceuticals, Aegis Logistics, Apollo Hospitals Enterprise, AstraZeneca Pharma India, Bajaj Healthcare, Birla Tyres, Gujarat Mineral Development Corporation, Graphite India, Indiabulls Real Estate, Lemon Tree Hotels, Lux Industries, Panacea Biotec, Patanjali Foods, PC Jeweller, Suzlon Energy, V-Guard Industries and Welspun Corp will report Q4 results today.
The company reported an 85% increase in its consolidated net profit at Rs 440 crore on-year for the quarter ending March 2023. Consolidated revenue from operations during Q4FY23 increased by 17% to Rs 3,031 crore.
The company registered 30.4% on-year growth in net profit to Rs 278.8 crore in Q4FY23 from Rs 214 crore, in the year-ago period. Operating revenue, too, increased by 39.7% on-year to Rs 965 crore in the March quarter. IRCTC’s board also recommended a final dividend of Rs 2 per equity share of face value of Rs 2 each for the financial year 2022-23.
NBC Universal (NBCU) and JioCinema, Viacom18’s streaming service, have entered into a multi-year partnership to offer films and TV series in India.
Rail Vikas Nigam
The company has reported a 5% on-year decline in consolidated profit at Rs 359 crore for the quarter ended March FY23, impacted by a lower topline. Consolidated revenue from operations dropped 11.1% to Rs 5,720 crore compared to the corresponding period last fiscal.
The company reported a consolidated profit of Rs 449 crore for the quarter ended March FY23, against a loss of Rs 488 crore in the year-ago period. Profit in Q4FY23 was boosted by healthy revenue growth, while the loss in Q4FY22 was due to a one-time loss of Rs 1,300 crore.
The company reported a massive 242% on-year growth in consolidated profit at Rs 48.6 crore for the March FY23 quarter despite a weak operating margin, driven by healthy topline growth. Revenue from operations surged 70.3% to Rs 1,210 crore compared to the corresponding period last year, with consistently higher sales, the highest-ever collections and healthy customer deliveries. The company’s board recommended a dividend of Rs 3 per share for FY23.
The company reported a 206% on-year growth in consolidated profit at Rs 108.4 crore for the fourth quarter of FY23, driven by healthy operating performance. Consolidated revenue from operations for the quarter stood at Rs 2,790 crore, increasing 14.3% over a year-ago period.
The company posted a consolidated loss of Rs 97.8 crore for the quarter ended March FY23, against a profit of Rs 59.5 crore in the same period last year. The profitability was impacted by dismal operating numbers with a significant rise in depreciation, higher inventory, and input cost.
ISGEC Heavy Engineering
The company reported a consolidated profit of Rs 86.13 crore for the fourth quarter of the last financial year 2022-23, growing 129% over the corresponding period last fiscal, driven by healthy topline as well as operating numbers. The company’s board recommended a dividend of Rs 3 per share for FY23.