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Stocks to watch on Friday, May 10, 2024: On Friday, Sensex and Nifty50 are expected to open higher, boosted by positive global market sentiment.
At 7:00 AM, GIFT Nifty futures were up by 78 points, trading at 22,154.50 compared to Nifty50 futures.
In the Asia-Pacific region, markets showed upward trends, with Japan's Nikkei leading with a gain of 1.35 per cent, followed by Korea’s Kospi with a rise of 0.85 per cent, and Australia’s ASX 200 with a 0.56 per cent increase.
Meanwhile, domestically following are the stocks to watch on Friday:
BPCL: Bharat Petroleum Corporation reported a consolidated net profit of Rs 4,789.57 crore for the fourth quarter of FY 2023-24, marking a 30 per cent fall from Rs 6,870.47 crore in the corresponding period last year. Despite this, BPCL's revenue from operations only saw a slight dip, totaling Rs 1.32 lakh crore in the quarter ended March 31, compared to Rs 1.33 lakh crore the previous year.
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Relaxo Footwears: Firm reported a consolidated net profit of Rs 61.4 crore for the March quarter, registering a decline of three percent from Rs 63.3 crore in the same quarter of the previous financial year. The total revenue of the company came at Rs 747.2 crore, falling 2.3 percent from Rs 764.9 crore in the year-ago quarter
Suryoday Small Finance Bank: The Q4 earnings showcased significant growth with net profit surging by 56.3 per cent to Rs 60.8 crore from Rs 38.9 crore year-on-year (YoY). Net Interest Income (NII) increased by 28.9 per cent to Rs 270.8 crore compared to Rs 210.1 crore YoY. Net Non-Performing Assets (NPA) decreased to 0.86 per cent from 1.42 per cent quarter-on-quarter (QoQ).
VST Tillers and Tractors: VST Tillers Tractors reported a 13.4 percent YoY drop in net profit at Rs 34.8 crore in Q4 FY24. The company's revenue from operations fell 15.3 percent to Rs 273.4 crore in the January-to-March quarter.
ADF Foods: It reported a notable increase in revenue from operations, reaching Rs 153 crore in Q4 FY24 compared to Rs 123 crore in the corresponding period of the previous year. Additionally, the company's profit after tax rose to Rs 25 crore in Q4 FY24, up from Rs 16 crore in the same quarter of the previous year.
Hikal: On a year-on-year basis, the company’s revenue decreased by 5.72 per cent to Rs 514 crore from Rs 545 crore. However, EBITDA increased by 7.32 per cent to Rs 94.46 crore compared to Rs 88.01 crore, resulting in a margin improvement of 223 basis points to 18.37 per cent from 16.14 per cent. Despite this, net profit declined by 5.63 per cent to Rs 33.97 crore versus Rs 36 crore in the previous year.
