 "Eicher Motors, BoI, Piramal Pharma among seven stocks to track on May 13")
Stocks to watch today: Indian equities may start on a downward trend on Monday, influenced by a blend of global signals.
In the broader Asian landscape, markets fell as investors digest China's inflation figures and await Japan's GDP data.
At 7:36 AM, Japan's Nikkei was trading 0.46 per cent while Hong Kong's Hang Seng fell 0.58 per cent. Similarly, Korea's Kospi was trading 0.13 per cent lower.
Back home, investor attention will be on the performance of various stocks following the announcement of their Q4 results including Eicher Motors and Punjab & Sind Bank.
Here are the stocks to watch out today:
Eicher Motors
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The company's consolidated profit after tax stood at Rs 1,070 crore for the fourth quarter ended March 2024 (Q4FY24), on the back of higher sales, from Rs 906 crore in the same period last year. The company’s total revenue jumped 12 per cent to Rs 4,256 crore in the January-March quarter of FY24 compared to Rs 3,804 crore in the corresponding quarter of FY23. Additionally, Royal Enfield sold 2,27,925 motorcycles in the fourth quarter, up 6 per cent from 2,14,685 units in the year-ago period.
Punjab & Sind Bank
Punjab & Sind Bank faced challenges in Q4, with net profit declining 70 per cent Y-o-Y to Rs 139.4 crore. However, Net Interest Income (NII) remained stable, increasing by 1 per cent to Rs 689.3 crore. Gross and net non performing assets (GNPAs and NNPAs) showed improvement sequentially.
Bank of India (BoI)
Bank of India reported a 7 per cent increase in net profit to Rs 1,439 crore Y-o-Y. NII also grew 7 per cent to Rs 5,937 crore. Both gross and net NPAs showed improvement quarter-on-quarter.
Meghmani Organics
Meghmani Organics faced challenges in Q4, reporting a net loss of Rs 18 crore, as compared to a profit of Rs 54.1 crore Y-o-Y. Revenue declined sharply by 29 per cent to Rs 410 crore in the March quarter.
Advanced Enzyme
Advanced Enzyme's net profit declined 11.6 per cent to Rs 28.3 crore Y-o-Y. However, revenue grew 13.8 per cent to Rs 157.8 crore, and Ebitda increased 25.4 per cent to Rs 55.3 crore. The margin expanded to 35 per cent from 32 per cent Y-o-Y.
JSW Steel
Company’s April crude steel production rose 0.4 per cent Y-o-Y at 21.21 lakh tonnes. Its capacity utilisation at Indian operations came in at 88 per cent
Piramal Pharma
Piramal Pharma witnessed robust growth in Q4, with net profit doubling to Rs 101.3 crore compared to the previous year. Revenue rose 18 per cent to Rs 2,552.4 crore, while Ebitda zoomed 50.9 per cent to Rs 529.9 crore. Margin, meanwhile, expanded to 20.8 per cent from 16.2 per cent Yo--Y.