Bata India, Lemon Tree Hotels, Nocil among seven stocks to watch on May 30

Stocks to watch on May 30: Lemon Tree Hotels profit surged by 42.3 per cent YoY to Rs 84 crore in comparison to Rs 59 crore

Stocks to watch on Thursday, May 30, 2024: Benchmark Sensex and Nifty are poised for a weaker opening on Thursday, in line with global trends. The GIFT Nifty futures also indicated a subdued start, with a 74-point decline against Nifty50 futures at 22,669.

In the US, overnight trading saw the Dow Jones Industrial Average decrease by 1.06 per cent. Similarly, the S&P 500 and the Nasdaq Composite also declined, with losses of 0.74 per cent and 0.58 per cent, respectively.

Domestically, foreign institutional investors (FIIs) divested shares worth of Rs 5,841.84 crore, whereas domestic institutional investors (DIIs) maintained their buying momentum, acquiring shares worth Rs 5,233.79 crore on May 29th.

Meanwhile, here are some stocks worth monitoring in the domestic market on May 30:

Kfin Technologies: According to reports, General Atlantic Singapore Fund is set to sell a 4.1 per cent stake in a technology-driven financial services company, with the potential to increase its stake to 6.8 per cent.

Bata India: Its performance in Q4FY24 on a consolidated basis showed a 3 per cent decline year on year (YoY) in profit to Rs 63.6 crore as against Rs 65.6 crore. Revenue hiked by 2.5 per cent YoY to Rs 797.9 crore compared to Rs 778.6 crore. The board announced a dividend of Rs 12 per share.

Hindustan Oil Exploration Company: The company saw a 33.8 per cent decline in profit to Rs 70.6 crore in Q4FY24 on a consolidated basis compared to Rs 106.6 crore in Q4FY23. Revenue jumped by 71 per cent YoY to Rs 330.6 crore compared to Rs 193.4 crore. 

NOCIL: Its profit jumped by 46.7 per cent YoY to Rs 41.5 crore for Q4FY24 on a consolidated basis compared to Rs 28.3 crore in Q4FY23. Revenue fell by 9.2 per cent to Rs 356.5 crore versus Rs 392.7 crore. Other income surged to Rs 24.7 crore compared to Rs 2.94 crore.

Lemon Tree Hotels: It witnessed robust growth in Q4FY24 on a consolidated basis. Its profit surged by 42.3 per cent YoY to Rs 84 crore in comparison to Rs 59 crore. Revenue rose by 29.5 per cent YoY to Rs 327.3 crore against Rs 252.7 crore in Q4FY23.

ISGEC Heavy Engineering: It saw a 22.6 per cent fall in profit to Rs 72.1 crore in Q4FY24 compared to Rs 93.2 crore in Q4FY23. Revenue declined by 8.6 per cent YoY to Rs 1,868 crore versus Rs 2,042.7 crore.

Heritage Foods: It witnessed a 126 per cent zoom in profit to Rs 40.5 crore in Q4FY24 over Rs 17.9 crore in Q4FY23. Revenue rose by 16.3 per cent YoY to Rs 950.6 crore in comparison to Rs 817.6 crore.

Ion Exchange (India): It saw a 10.8 per cent fall in profit to Rs 72.5 crore in Q4FY24 compared to Rs 81.2 crore in Q4FY23. Revenue rose by 20.7 per cent YoY to Rs 781.8 crore compared to Rs 647.5 crore.