 "Stocks to watch on May 28: LIC, Natco Pharma, AstraZeneca India, Nalco")
Stocks to watch on Tuesday, May 28, 2024: Indian equities may see a positive beginning on Tuesday, indicated GIFT Nifty. The GIFT Nifty futures were 37 points higher to Nifty 50 futures at 23,018.
Asia-Pacific markets were range bound on Tuesday morning, with Japan's Nikkei 225 falling 0.30 per cent, while the broader Topix index dropping marginally 0.05 per cent.
South Korea's Kospi edged up by 0.12 per cent, while the small-cap Kosdaq was up 0.35 per cent. Meanwhile, Australia's S&P/ASX 200 rose by 0.15 per cent.
Futures for Hong Kong's Hang Seng index were trading 0.40 per cent higher at 18,902 levels.
Meanwhile, back home here are some stocks to watch on Tuesday.
Life Insurance Corporation of India: It reported a 15.6 per cent year on year (YoY) increase in standalone net premium income, reaching Rs 1.52 lakh crore in Q4FY24 compared to Rs 1.32 lakh crore. Despite a slight dip in VNB margins to 17.2 per cent from 17.5 per cent, the annualised premium equivalent (APE) witnessed a 3 per cent YoY growth, totaling Rs 21,180 crore versus Rs 20,592 crore. Net profit saw a marginal uptick of 2.5 per cent to Rs 13,763 crore from Rs 13,428 crore, with the board recommending a final dividend of Rs 6 per share.
Lumax Auto Technologies: The company’s revenue jumped by 53.5 per cent YoY to Rs 757 crore in Q4FY24 from Rs 493 crore in Q4FY23. Ebitda rose by 62.2 per cent to Rs 92 crore from Rs 57 crore, leading to a slight increase in margins to 12.1 per cent from 11.5 per cent. Net profit stood at Rs 51 crore in Q4FY24 compared to Rs 24 crore in Q4FY23.
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Lakshmi Machine Works: The company faced challenges as consolidated revenue experienced a significant 25.5 per cent YoY decline to Rs 971 crore in Q4FY24 from Rs 1,303 crore. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) also fell by 37.9 per cent YoY to Rs 73 crore in March quarter from Rs 118 crore, leading to a contraction in margins from 9.1 per cent to 7.6 per cent. Net profit dropped by 29.9 per cent to Rs 66 crore from Rs 94 crore. The board proposed a dividend of Rs 75 per share.
Astrazeneca Pharma: The pharma company reported a 34.6 per cent YoY increase in revenue to Rs 383 crore in Q4FY24 from Rs 285 crore in Q4FY23. However, Ebitda witnessed a decline of 17.6 per cent YoY to Rs 49 crore from Rs 60 crore, resulting in a contraction in margins from 21 per cent in Q4FY23 to 12.9 per cent in Q4FY24. Despite this, net profit surged by an impressive 129 per cent to Rs 39 crore from Rs 17 crore.
Natco Pharma: It showcased a 19 per cent YoY growth in consolidated revenue to Rs 1,068 crore in Q4FY24 compared to Rs 898 crore. Ebitda surged by 46.7 per cent YoY to Rs 497 crore in Q4FY24 from Rs 339 crore, driving an improvement in margins to 46.6 per cent from 37.8 per cent. Net profit soared by 40.1 per cent YoY to Rs 386 crore in March quarter from Rs 276 crore in the same quarter of the previous year.
National Aluminium Company: It reported a 2.5 per cent YoY decline in revenue to Rs 3,579 crore in Q4FY24 from Rs 3,671 crore in Q4FY23. However, Ebitda surged by 44.4 per cent YoY to Rs 1,108 crore from Rs 767 crore, leading to an expansion in margins to 30.9 per cent in Q4FY24 from 20.9 per cent in Q4FY23. Net profit stood at Rs 997 crore in Q4FY24 compared to Rs 495 crore in Q4FY23.
Sumitomo Chemical India: The firm saw a 3.5 per cent YoY increase in revenue to Rs 674 crore in Q4FY24 from Rs 652 crore in Q4FY23. Ebitda surged by 73.9 per cent YoY to Rs 140 crore from Rs 81 crore, resulting in an expansion of margins to 20.8 per cent in Q4FY24 from 12.4 per cent in Q4FY23. Net profit rose by 52.4 per cent YoY to Rs 110 crore in Q4FY24 from Rs 72 crore.
Gujarat Mineral Development Corporation: The company’s revenue dropped by 20.8 per cent YoY to Rs 751 crore in Q4FY24 from Rs 948 crore in Q4FY23. Ebitda plummeted by 47.3 per cent YoY to Rs 205 crore from Rs 390 crore, leading to a decline in margins from 41.1 per cent to 27.4 per cent. Net profit also decreased by 53.2 per cent to Rs 207 in Q4FY24 crore from Rs 442 crore in Q4FY23.
Elgi Equipments: The company saw a marginal 3.6 per cent growth in revenue to Rs 866 crore from Rs 836 crore. Ebitda slightly decreased by 1.7 per cent to Rs 125 crore from Rs 127 crore, leading to a decline in margins to 14.5 per cent from 15.2 per cent. Net profit dropped significantly by 55.2 per cent to Rs 76 crore from Rs 170 crore, reflecting the company's operational challenges.