 "Stocks, shares, stock maket")
Indian equity markets are poised to regain some lost ground on Monday after Friday's significant downturn. As of 7:35 AM, the GIFT Nifty was trading at 22,688, marking an increase of 112 points.
Across Asia, the Shanghai Composite in China rose by 0.7 per cent, Australia's ASX200 gained 0.5 per cent, and Hong Kong's Hang Seng logged a 0.3 per cent increase.
However, markets in Japan and South Korea are closed today.
Meanwhile, here are some stocks that may see action on Monday:
Meanwhile, here are some stocks that may see action on Monday:
BirlaCorp: Cement major Birla Corporation Ltd reported a significant increase in its consolidated net profit to Rs 193 crore for the quarter ending March 2024, marking a remarkable 127 percent surge. Consolidated revenue for the fourth quarter of the 2023-24 fiscal reached Rs 2,682 crore, indicating a growth of 6.8 percent compared to the corresponding period last year.
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Kotak Mahindra Bank: The bank's Profit After Tax (PAT) for FY24 rose to Rs 13,782 crore from Rs 10,939 crore in FY23, marking a 26 per cent year-on-year increase. PAT for Q4FY24 reached Rs 4,133 crore, up 18 per cent year-on-year from Rs 3,496 crore in Q4FY23 (a 38 per cent quarter-on-quarter increase from ₹3,005 crore in Q3FY24).
One 97 Communications: Paytm, the digital payments and financial services company, disclosed the resignation of its COO and president, Bhavesh Gupta, through a regulatory filing on 4 May.
Avenue Supermarts: Avenue Supermarts witnessed a 22 per cent year-on-year increase in their net profits. The company's Profit After Tax (PAT) surged from Rs 460.1 crore in Q4FY23 to Rs 563.1 crore in the corresponding period. Additionally, revenue from operations grew by 20 per cent to Rs 12,726 crore during Q4FY24, compared to Rs 10,594 crore in the same period last year.
Mahindra Finance: The company announced a total income of ₹3,706 crores for the quarter ending March 31, 2024, reflecting a 21 per cent increase year-over-year (YoY). However, Profit After Tax (PAT) witnessed a slight decline by 10 per cent YoY, reaching Rs 619 crores. This decrease is attributed to a 14 per cent rise in Net Interest Income (NII), which stood at Rs 1,971 crores.
IDBI Bank: The bank disclosed its fiscal 2023-24 fourth-quarter results, indicating a 43.7 per cent increase in net profit to Rs 1,628.5 crore from Rs 1,133.4 crore in the same period last year. Meanwhile, the bank's net interest income (NII), representing the difference between interest earned and paid, climbed 12.4 per cent to Rs 3,687.9 crore in the March quarter, compared to Rs 3,279.6 crore a year ago.
