 "equity trading volumes, share market")
Stocks to watch today: Indian stock markets may open higher on Tuesday, tracking mixed global cues. However, FIIs' selling activity remains a key focus.
On May 13, FIIs offloaded equities valued at Rs 4,498.92 crore, while DIIs purchased equities worth Rs 3,562.75 crore.
As of 7:26 AM, GIFT Nifty futures showed a 47-point increase at 22,248 levels compared to Nifty50 futures.
Here are the stocks to monitor on May 14
Shriram Finance: The company announced that board has approved the sale of its housing finance subsidiary Shriram Housing Finance to Warburg Pincus for Rs 4,630 crore for equity & convertible instruments of SHFL.
Zomato: Food aggregator Zomato announced its fourth quarter earnings on Monday, May 13. Its profit stood at Rs 175 crore, as compared to a loss of Rs 189 crore Y-o-Y. The turnaround came on the back of robust revenue growth and positive Ebitda. Its topline and Ebitda stood at Rs 3,562 crore and Rs 86 crore, respectively. Margin, meanwhile, came in at 2.4 per cent for Q4.
DLF: The company announced its March quarter results (Q4FY24). Its net profit rose 61.5 per cent to Rs 920.7 crore, as opposed to Rs 570 crore in the same quarter a year ago (Q4FY23). Its topline zoomed 46.6 per cent annually to Rs 2,135 crore from Rs 1,456 cr a year ago. Margin, meanwhile, expanded 790 basis points to 35.3 per cent.
TCS: IT services company announced the creation of a Global Artificial Intelligence (AI) Center of Excellence in Paris, during the Choose France Summit, hosted by President Emmanuel Macron. The new AI centre will be based in the upcoming TCS PacePort in the La Défense area of Paris, which will be inaugurated in June 2024, becoming the 7th such facility in TCS’ global Pace network, following Amsterdam, London, New York, Pittsburgh, Toronto, and Tokyo. The centre will be dedicated to advancing the frontiers of AI in addressing both business efficiencies and societal priorities. It will focus on exploring innovative approaches to AI design and evolution, aligning with key areas outlined in France's National Strategy for AI as part of the France 2030 plan.
Maruti Suzuki: The automotive giant has introduced two fresh variants of the Fronx, featuring competitive ex-showroom pricing. The newly launched models comprise the Fronx ISS Delta+ (O) 1.2L 5MT, priced at Rs 8,93,000, and the Fronx ISS Delta+ (O) 1.2L AGS, available at Rs 9,43,000.
Sanofi: Sanofi has announced its Q4 earnings report, revealing a major downturn in key financial metrics compared to the previous year. Revenue fell 74.3 per cent to Rs 732.4 crore, from Rs 2,851.1 crore Y-o-Y, while Ebitda experienced a parallel decline of 73 per cent, falling to Rs 219 crore, from Rs 804 crore Y-o-Y. Margin, meanwhile, saw a slight improvement, rising to 30 per cent, from 28.2 per cent Y-o-Y. The company also reported an exceptional loss of Rs 26.7 crore, in stark contrast to a gain of Rs 17.8 crore recorded in the same period last year.
