ITC, Sun Pharma, Nykaa, Page Industries, IndiGo, other stocks to track on Thursday
Stocks To Track, Market News: Domestic equity benchmarks logged mild gains on Wednesday amid buying interest in energy, FMCG and IT shares though selling pressure in financial stocks kept the upside in check. Both headline indices finished the day stronger by about one-third of a percentage point. Here are some of the stocks likely to be in focus in Wednesday's trade.
Stocks To Track, Market News: At 8:03 am, Gift Nifty traded marginally higher by 0.04 per cent or 8.05 points at 22,666, indicating a subdued to positive opening for the markets today. Domestic equity benchmarks logged mild gains on Wednesday amid buying interest in energy, FMCG and IT shares though selling pressure in financial stocks kept the upside in check. Both headline indices finished the day stronger by about one-third of a percentage point, with the Sensex rising 267.8 points to end at 74,221.1 and the Nifty50 adding 68.8 points to settle at 22,597.8.
Here are a bunch of stocks that are likely to be in focus in the next session on Dalal Street, on May 23, including Sun Pharma, ITC and Nykaa:
180+ companies scheduled to report March-quarter results on May 23
More than 180 companies are scheduled to report their financial results for the quarter as well as the year ended March 31 on Thursday, May 23, including ITC, Honasa Consumer, InterGlobe Aviation, Fortis Healthcare, JK Lakshmi Cement, Page Industries, ICRA, Schneider Electric Infra, Tata Investment Corp, Yatharth Hospital & Trauma Care Services, Zaggle Prepaid Ocean Services, and Barbeque-Nation Hospitality.
ITC likely to log 1% growth in Q4 PAT
According to Zee Business research, ITC is likely to register a standalone net profit of Rs 5,064 crore and revenue of Rs 16,626 crore for the March quarter, marking year-on-year growth of about one per cent and three per cent respectively.
The analysts peg the cigarette maker's Q4 margin at 37 per cent, down by 200 bps on a year-on-year basis.
SBI Life Insurance deputy CEO to relinquish office on May 24
SBI Life Insurance has said that its Deputy CEO Veeraraghavan Srinivasan will relinquish office from the end of business hours on May 24.
Gland Pharma Q4 PAT more than doubles
Gland Pharma has clocked a more than two-fold jump in its consolidated net profit to Rs 192 crore for the March quarter.
Power Grid Q4 PAT drops 4%
State-owned Power Grid Corporation has logged a nearly four per cent decline in its consolidated net profit to Rs 4,166.3 crore for the March quarter, owing to lower income.
PSU stocks in focus after RBI announces mega dividend to Centre
The RBI has announced a record dividend of Rs 2.11 lakh crore to the exchequer for the financial year 2023-24.
Grasim Industries stages weak Q4 show
Grasim Industries has logged a net loss of Rs 441 crore for the quarter ended March 31, owing to an exceptional item of Rs 715.6 crore. Its margin however expanded by 130 bps to 7.7 per cent.
Zee Business analysts had pegged Grasim's quarterly margin at 7.9 per cent.
Petronet LNG Q4 numbers weak
Petronet LNG has registered a 38.1 per cent fall in net profit with a 6.5 per cent decline in revenue for the January-March period. Its margin has contracted by 360 basis points to 8.0 per cent.
Power Grid Q4 results in line with expectations
Power Grid has reported a 3.6 per cent fall in its net profit with a 2.5 per cent decline in revenue for the March quarter, largely in line with analysts' estimates.
Gland Pharma stages clocks good Q4 numbers
Gland Pharma staged a strong financial performance for the January-March period, with a 143 per cent surge in net profit and 96 per cent growth in revenue.