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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, reflecting weak global cues and a subdued start indicated by GIFT Nifty futures.
GIFT Nifty futures showed slight gains, trading at 22,388.50 compared to Nifty50 futures.
Across the Asia-Pacific region, markets are displaying mixed sentiment ahead of China's April trade figures and Japan's pay statistics.
Japan's Nikkei saw a modest uptick of 0.26 per cent, while Korea's Kospi remained largely unchanged. However, Australia's ASX200 declined by over 0.55 per cent.
Meanwhile, domestically below are some stocks keep tabs on:
Hero MotoCorp: The two-wheeler giant posted a net profit of Rs 1,016.05 crore for the quarter ending March 31, 2024, an 18 per cent rise from Rs 858.93 crore reported in the same period last year. Standalone revenue from operations stood at Rs 9,519 crore for the quarter, a 14.6 per cent increase compared to Rs 8,306.78 crore reported in the corresponding period of the previous financial year.
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TVS Motor Company: The two-wheeler manufacturer, reported net profit of Rs 485 crore for the quarter ending March 31, 2024, marking an 18 per cent year-on-year increase from Rs 410 crore reported in the corresponding period last year. The company's revenue from operations for the same quarter stood at Rs 8,169 crore, reflecting a growth of nearly 24 per cent compared to Rs 6,605 crore reported in the corresponding quarter of the previous financial year.
Tata Power: On Wednesday, Tata Power disclosed a 15 per cent year-on-year increase in its consolidated net profit for the fourth quarter, reaching Rs 895 crore, compared to Rs 778 crore in the corresponding period last year. Additionally, revenue from operations surged 27 per cent year-on-year to Rs 15,846 crore during the reporting period.
L&T: Larsen and Toubro (L&T) reported a 10 per cent increase in its consolidated net profit, reaching Rs 4,396 crore. During the same period, consolidated revenues grew by 15 per cent year-on-year to Rs 67,079 crore.
Vodafone Idea: Financial services company Citigroup on Wednesday sold shares of telecom company Vodafone Idea for over Rs 233 crore through an open market transaction. US-based Citigroup through its affiliate, Citigroup Global Markets Mauritius, offloaded shares of Vodafone Idea through a block deal on the BSE.
Bank of Baroda: Bank of Baroda (BoB) announced on Wednesday that the Reserve Bank of India (RBI) has removed the restriction imposed on the bank in October last year, allowing it to onboard customers onto the ‘bob World’ platform once again. BoB stated in a filing to exchanges that it is now permitted to onboard customers through the bob World mobile banking application, adhering to the applicable guidelines and existing laws and regulations.
