Wockhardt, Brigade Ent, Medplus Health among six stocks to watch on May 29

Stocks to watch on May 29: Wockhardt reported its Q4 earnings, disclosing a net loss of Rs 177 crore compared to a loss of Rs 237 crore YoY

Stocks to watch on Wednesday, May 29, 2024: The Sensex and Nifty benchmarks are poised for a downward opening on Wednesday, following negative global cues. GIFT Nifty futures indicate a gap-down start, trading 97 points below Nifty 50 futures at 22,840.

This morning, the Asia-Pacific markets displayed a red zone, with Japan's Nikkei 225 declining by 0.32 per cent, and the broader Topix index slipping 0.18 per cent. South Korea's Kospi fell by 0.79 per cent, and the small-cap Kosdaq dropped by 0.76 per cent. Additionally, Australia's S&P/ASX 200 decreased by 0.97 per cent.

Hong Kong's Hang Seng index futures were trading 1 per cent lower at 18,632 levels.

 

In the US overnight, the Nasdaq Composite rose by 0.59 per cent, the S&P 500 edged up marginally by 0.02 per cent, while the Dow Jones Industrial Average declined by 0.55 per cent.

Meanwhile, domestically here are six stocks to watch on May 29:
 

Wockhardt: It reported its Q4 earnings, disclosing a net loss of Rs 177 crore compared to a loss of Rs 237 crore YoY. Revenue increased by 3.2 per cent to Rs 700 crore from Rs 678 crore YoY. Ebitda reported a loss of Rs 103 crore compared to a profit of Rs 3 crore YoY. Habil Khorakiwala was re-appointed as Executive Chairman effective from March 1, 2025.

Brigade Enterprises: The real estate firm’s revenues skyrocketed by 102.04 per cent YoY to Rs 1702 crore in Q4FY24 from Rs 843 crore in Q4FY23. Ebitda surged by 114.24 per cent to Rs 432.73 crore from Rs 201.98 crore, with a margin increase to 25.41 per cent from 23.97 per cent. Net profit witnessed an exceptional growth of 234.22 per cent YoY to Rs 210.86 crore in Q4FY24 from Rs 63.09 crore. The board recommended a final dividend of Rs 2 per share.

Medplus Health Services: The company’s revenue grew by 19 per cent YoY to Rs 1,490 crore in Q4FY24 from Rs 1,253 crore. Ebitda increased by 29.7 per cent to Rs 106 crore from Rs 82 crore, with a margin improvement to 7.1 per cent from 6.5 per cent. Net profit rose by 26.4 per cent YoY to Rs 34 crore in Q4FY24 from Rs 27 crore.

RR Kabel: The company’s Q4 earnings revealed a 20.5 per cent increase in net profit to Rs 78.7 crore from Rs 65.3 crore YoY. Revenue grew by 15.7 per cent to Rs 1,754.1 crore from Rs 1,516.5 crore YoY. Ebitda rose by 14.8 per cent to Rs 115.3 crore from Rs 100.4 crore YoY, with a margin increase to 6.7 per cent from 6.6 per cent YoY.

TCPL Packaging: It released its Q4 earnings, showing a 19.8 per cent increase in net profit to Rs 29 crore from Rs 24.2 crore year-on-year (YoY). Revenue grew by 2 per cent to Rs 400.5 crore from Rs 392.6 crore YoY. Ebitda rose by 10.4 per cent to Rs 70.3 crore from Rs 63.7 crore YoY, with a margin improvement to 17.6 per cent from 16.2 per cent YoY. The board recommended a dividend of Rs 22 per share, and KK Kanoria was re-appointed as Executive Chairman effective from October 1, 2024.