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Stocks to watch on Thursday, May 9, 2024: Benchmark indices Sensex and Nifty50 are likely to continue their volatile trend on Thursday, tracking weak global cues and a muted start signalled by GIFT Nifty futures. GIFT Nifty futures showed slight gains, trading at 22,388.50 compared to Nifty50 futures.
In the US, the S&P 500 remained largely unchanged, staying near the flatline, while the Nasdaq Composite saw a slight dip of around 0.18 per cent. The tech sector exerted pressure on the indices, especially with Uber and Shopify reporting their quarterly results.
Back home, however, below are some stocks to track on Thursday:
HG Infra: The firm reported its Q4 earnings with a net profit increase of 11.2 per cent at Rs 190 crore compared to Rs 170.9 crore in the previous year. Revenue also rose by 11.3 per cent to Rs 1,708.2 crore from Rs 1,535.4 crore year-on-year. Additionally, EBITDA showed a growth of 12.1 per cent at Rs 332.6 crore versus Rs 296.8 crore in the previous year. The margin stood at 19.5 per cent compared to 19.3 per cent year-on-year.
ESAF Small Finance Bank: The bank reported its Q4 earnings with a significant decline in net profit, down by 57.2 per cent at Rs 43.4 crore compared to Rs 101.4 crore year-on-year. However, net interest income (NII) showed a positive trend, increasing by 18.4 per cent to Rs 590.7 crore from Rs 498.9 crore year-on-year. The gross non-performing assets (NPA) increased to 4.76 per cent from 4.16 per cent quarter-on-quarter, while net NPA marginally rose to 2.26 per cent from 2.19 per cent quarter-on-quarter. Provisions also increased to per cent 226.2 crore compared to per cent 137.8 crore quarter-on-quarter and per cent 82.3 crore year-on-year.
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Gujarat State Petronet: The company registered strong Q4 earnings, with net profit rising by 22.2 per cent to Rs 663.1 crore compared to Rs 542.8 crore year-on-year. Revenue showed a growth of 5.9 per cent to Rs 4,522.2 crore from Rs 4,270.1 crore year-on-year. Additionally, EBITDA increased by 12.2 per cent to Rs 959.8 crore from Rs 855.2 crore year-on-year, resulting in an improved margin of 21.2 per cent compared to 20 per cent year-on-year.
SKF India: The firm recorded reported robust Q4 earnings, with net profit soaring by 42.6 per cent to Rs 175.2 crore from Rs 122.9 crore year-on-year. Revenue also showed significant growth, rising by 9.9 per cent to Rs 1,203.4 crore compared to Rs 1,094.7 crore year-on-year. Additionally, EBITDA witnessed a strong increase of 27.7 per cent to Rs 213.3 crore from Rs 167 crore year-on-year, resulting in an improved margin of 17.7 per cent compared to 15.3 per cent year-on-year.
Kirloskar Oil Engines: The company reported a 26 per cent rise in standalone net profit to Rs 128 crore in Q4 FY24. The Pune-based company's net sales for the quarter grew 21 per cent to Rs 1,378 crore compared to Rs 1,141 crore in the previous year. For the full fiscal year 2023-24, its net profit increased by the same margin to Rs 375 crore from Rs 298 crore in FY23.
NBCC: NBCC informed that it has got Rs 450 worth of contracts from the Court Receiver of the Supreme Court of India.
Piramal Enterprises: The company reported positive Q4 earnings, with a net profit of Rs 137.1 crore compared to a loss of Rs 195.9 crore year-on-year. Revenue also showed growth, increasing by 16 per cent to Rs 2,473.3 crore from Rs 2,131.7 crore year-on-year.
BSE: On Wednesday, BSE, disclosed a net profit of Rs 107 crore for the quarter ending March 31, 2024, an 18 per cent rise from the Rs 91 crore recorded in the corresponding period last year. Additionally, the company's board proposed a final dividend of Rs 15 per equity share. Consolidated revenue for the quarter amounted to Rs 488.37 crore, reflecting a substantial 115 per cent year-on-year surge from Rs 227 crore.
Westlife Foodworld: The owner-operator of McDonald's restaurants across West and South India, witnessed a significant 96.2 per cent decline in consolidated profit after tax, dropping to Rs 76.35 lakh in the March quarter due to increased expenses. However, consolidated total income for the fourth quarter stood at Rs 567.47 crore, compared to Rs 561.96 crore in the year-ago period.
Sula Vineyards: The wine producer recorded a 4.85 per cent decrease in consolidated net profit to Rs 13.55 crore in the fourth quarter ending March 2024. This compares to a consolidated net profit of Rs 14.24 crore in the corresponding quarter a year ago. Consolidated revenue from operations for the quarter amounted to Rs 131.7 crore, up from Rs 120 crore in the year-ago period.
Home First Finance: The company posted its Q4 earnings with a notable increase in net profit, rising by 30.5 per cent to Rs 83.5 crore compared to Rs 64 crore year-on-year. Similarly, net interest income (NII) also showed a strong growth, increasing by 22.4 per cent to Rs 136.8 crore from Rs 111.8 crore year-on-year.
Godrej Agrovet: The firm reported a significant increase in its consolidated net profit to Rs 65.48 crore in the March 2024 quarter, up from Rs 23.47 crore in the same period last year. Meanwhile, its total revenue from operations saw a modest growth of 1.87 per cent, reaching Rs 2,134.28 crore compared to Rs 2,094.99 crore in the year-ago period.
