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Stocks to watch on Friday, May 31, 2024: Indian bourses are poised to start on a positive note on Friday morning, mimicking Asian peers. The GIFT Nifty futures, too, indicated an upward beginning, as they were quoting 62 points higher than Nifty50 futures at 22,689 levels.
Asian markets largely flashed the green colour this morning, Japan's Nikkei 225 rising 0.37 per cent, with the broad based Topix index also rising by 0.84 per cent.
South Korea's Kospi index witnessed a 0.68 per cent rise, while the smaller-cap Kosdaq slipping by 0.23 per cent. On the other hand, Australia's S&P/ASX 200 index edged up by 0.46 per cent.
In contrast overnight in the US, all three major indices experienced a downturn with the Dow Jones Industrial Average declining by 0.86 per cent. The S&P 500 slumped 0.6 per cent, while the Nasdaq Composite fell by 1.08 per cent.
Meanwhile, domesticall here are some stocks to keep on your radar today:
Apollo Hospitals: In the fourth quarter of the fiscal year 2023-24 (Q4FY24), Apollo Hospitals Enterprise witnessed a significant spike in profit, soaring by 77.5 per cent year on year (Y-o-Y) to Rs 258.4 crore compared to Rs 145.6 crore in the same period last year. Additionally, the company experienced a notable rise in revenue, climbing by 14.9 per cent Y-o-Y to Rs 4,944 crore, up from Rs 4302.2 crore. The Board also declared a final dividend of Rs 10 per share.
Muthoot Finance: It witnessed a rise in standalone profit by 17 per cent Y-o-Y to Rs 1,056.3 crore in Q4FY24 compared to Rs 902.7 crore in Q4FY23, with revenue increasing by 15.2 per cent Y-o-Y to Rs 2,134.8 crore compared to Rs 1,853.3 crore.
Muthoot Finance: It witnessed a rise in standalone profit by 17 per cent Y-o-Y to Rs 1,056.3 crore in Q4FY24 compared to Rs 902.7 crore in Q4FY23, with revenue increasing by 15.2 per cent Y-o-Y to Rs 2,134.8 crore compared to Rs 1,853.3 crore.
Bharat Dynamics: It reported a remarkable surge in profit, zooming by 89 per cent Y-o-Y to Rs 288.8 crore in Q4FY24 compared to Rs 152.8 crore in the previous year's corresponding quarter. Its revenue grew by 7 per cent Y-o-Y to Rs 854.1 crore from Rs 798.3 crore in Q4FY23.
BGR Energy Systems: The company saw its profit stand at Rs 129.4 crore in Q4FY24, a significant turnaround from a loss of Rs 217.6 crore in Q4FY23, while revenue surged by 59.4 per cent Y-o-Y to Rs 170 crore in Q4FY24 from Rs 106.7 crore.
Welspun Corp: The firm experienced a climb in profit by 19.7 per cent Y-o-Y to Rs 287.3 crore in Q4FY24, with revenue increasing by 9.6 per cent Y-o-Y to Rs 4,461.2 crore.
Bharat Rasayan: It experienced a surge in profit by 122 per cent Y-o-Y to Rs 67.1 crorein Q4FY24, with revenue rising slightly by 1.2 per cent Y-o-Y to Rs 309.6 crore.
Sunteck Realty: The real estate firm reported a profit of Rs 101.3 crore, in contrast to a loss of Rs 27.9 crore, alongside a significant increase in revenue by nearly 9-fold to Rs 426.9 crore in Q4FY24 as against Rs 48.9 crore in the corresponding period of the preceding fiscal.
