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Stocks to watch on May 21: Indian benchmark indices Sensex and Nifty50 may see a flat start on Tuesday, tracking mixed global cues.
At 6:48 AM, GIFT Nifty futures were trading 45 points higher at 22,598.50 against Nifty futures.
Equities in the US experienced a mixed performance on Monday. The Nasdaq reached an all-time high, closing 0.65 per cent higher, while the S&P 500 also saw a modest increase of 0.09 per cent. However, the Dow Jones Industrial Average declined 0.49 per cent.
In the domestic market, foreign institutional investors (FIIs) offloaded shares worth Rs 92.95 crore, on May 18. Meanwhile, domestic institutional investors (DIIs) sold shares worth Rs 152.87 crore.
Meanwhile, here are few stocks to keep an eye on May 21
TCS: N Ganapathy Subramaniam ceases to be COO & ED of Tata Consultancy Services. His term ended on May 19.
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ONGC: Oil and Natural Gas Corporation (ONGC) consolidated net profit rose 78 per cent for the fourth quarter of the fiscal year 2023-24 to Rs 11,526.53 crore compared to Rs 6,478.23 crore in the corresponding period last year. The state-owned oil and gas exploration giant reported a marginal rise in revenue from operations for the fourth quarter of the current fiscal year to Rs 1.66 lakh crore, compared to Rs 1.64 lakh crore in the same period of the previous year. The board of directors has proposed a final dividend of Rs 2.50 per equity share with a face value of Rs 5 each for the financial year 2023-24, subject to shareholders approval.
SAIL: In the fourth quarter of the financial year, Steel Authority of India (SAIL) witnessed a 2.9 per cent decrease in consolidated profit to Rs 1,126 crore compared to Rs 1,159.2 crore in the same period last year. The company’s revenue declined 4 per cent to Rs 27,958.5 crore versus Rs 29,130.66 crore previously. The company said that there was an exceptional loss of Rs 502.34 crore, contrasting with a loss of Rs 40.42 crore in the corresponding period.
Anupam Rasayan: The company’s profit plunged 45.6 per cent to Rs 31 crore compared to Rs 57 crore year-on-year (Y-o-Y). Revenue also experienced a downturn of 16.5 per cent to Rs 401 crore as opposed to Rs 480 crore year-on-year (Y-o-Y). The company's Ebitda dropped 21.4 per cent to Rs 92 crore from Rs 117 crore Y-o-Y. Furthermore, the margin stood at 23 per cent, down from 24.4 per cent Y-o-Y.
Trident: Trident’s net profit declined 54.8 per cent to Rs 59 crore compared to Rs 130.6 crore year-on-year (Y-o-Y). Despite this, revenue showed a positive trajectory, rising by 7 per cent to Rs 1,682 crore from Rs 1,573 crore Y-o-Y. However, the company's Ebitda witnessed a decrease of 23.5 per cent, amounting to Rs 205 crore versus Rs 268 crore Y-o-Y. Moreover, the margin stood at 12.2 per cent, down from 17 per cent Y-o-Y.
Ujjivan Small Finance Bank: Ujjivan Small Finance Bank (Ujjivan SFB) profit soared 6.5 per cent to Rs 329.6 crore compared to Rs 309.5 crore year-on-year (Y-o-Y). Additionally, the Net Interest Income (NII) surged by 26.4 per cent to Rs 933 crore from Rs 738 crore Y-o-Y. In terms of asset quality, the bank observed a slight increase in Gross NPA to 2.23 per cent from 2.18 per cent quarter-on-quarter (Q-o-Q). Meanwhile, the Net NPA rose to 0.28 per cent from 0.17 per cent Q-o-Q. In absolute figures, Gross NPA amounted to Rs 612.5 crore, up from Rs 570.7 crore Q-o-Q, and Net NPA stood at Rs 76.3 crore compared to Rs 42.8 crore during Q-o-Q.
Lupin: United States Food and Drug Administration (US FDA) conducted inspection at the company’s Somerset manufacturing facility. The US FDA issued a Form-483 with six observations. The company has assured that it is actively addressing these observations and will provide a response to the US FDA within the stipulated time frame.
Patel Engineering: The construction company’s net profit surged 83 per cent to Rs 141 crore compared to Rs 77 crore year-on-year (Y-o-Y). Its revenue increased 11.5 per cent to Rs 1,343 crore from Rs 1,205 crore Y-o-Y. The company's Ebitda also witnessed a robust growth of 41 per cent to Rs 238 crore versus Rs 168.7 crore Y-o-Y. Moreover, the margin expanded to 17.7 per cent from 14 per cent Y-o-Y.
VRL Logistics: VRL Logistics net profit plummeted 88.9 per cent to Rs 21.5 crore compared to Rs 193.2 crore year-on-year (Y-o-Y). Despite this, the company experienced a 10.1 per cent increase in revenue to Rs 768.4 crore from Rs 698.2 crore Y-o-Y. However, the Ebitda declined 7.6 per cent to Rs 105.4 crore versus Rs 114.1 crore Y-o-Y, resulting in a margin of 13.7 per cent, down from 16.3 per cent Y-o-Y.
