 "Stocks to watch on May 15: M&M, Radico Khaitan, Macrotech Developers")
Stocks to watch on May 15: Benchmark indices Sensex and Nifty could begin on a positive note on Wednesday, tracking positive cues from global markets.
Across Asia, market sentiment is predominantly positive, tracking Wall Street gains. At 7:26 AM, Japan's Nikkei rose 0.47 per cent, while Korea’s Kospi soared 0.11 per cent. Hong Kong's Hang Seng, meanwhile, was in the negative territory (down 0.22 per cent).
In the US, the Nasdaq, S&P 500, and Dow Jones closed with gains of 0.75 per cent, 0.48 per cent, and 0.32 per cent, respectively. Meanwhile, investors eagerly await key inflation data for further insights into the inflationary landscape.
Back home, wholesale inflation surged to a 13-month high of 1.26 per cent in April, primarily driven by escalating prices of food items, particularly vegetables. Also, companies like PFC, Mankind Pharma, Jindal Stainless, Dixon Technologies, Honeywell Auto, Titagarh Rail Systems, IEX, Granules India, CMS Info Systems, Transport Corporation of India, MOIL, NLC India and Trident, among few others, are set to announce their Q4FY24 results today.
Meanwhile, here are a few stocks to keep an eye on May 15
M&M: Mahindra Holdings has announced the sale of its 30.84 per cent stake in New Delhi Centre For Sight for Rs 425.4 crore to Space Investments, Defati Investments & Infinity Partners.
Radico Khaitan: The company reported its Q4 results on May 14. Its profit rose 26.5 per cent on a year-on-year basis to Rs 54 crore, as compared to Rs 42.6 crore in the same quarter a year ago. Its revenue jumped 30 per cent to Rs 1,079 crore, as opposed to Rs 832 crore in the same quarter previous fiscal.
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Macrotech Developers: The company is planning to to allocate Rs 3,500-4,000 crore this fiscal to acquire land parcels.
Surya Roshni: Surya Roshni reported its Q4 earnings on May 14. Its net profit declined 33.2 per cent to Rs 103.9 crore, as compared to Rs 155.5 crore in the same quarter a year ago. The company’s revenue decreased 3.3 per cent to Rs 2,080 crore during the same period.
Kirloskar Bros: The company’s profit surged 57.3 per cent on a Y-o-Y basis to Rs 142.7 crore, as compared to Rs 90.7 crore in the same quarter a year ago. The revenue increased by 9 per cent to Rs 1,224 crore, compared to Rs 1,124 crore a year ago.