Titan, Paytm, DMart, Britannia, Cipla, other stocks to track on May 6
Domestic equity benchmarks dropped around one per cent on Friday amid heavy selling pressure in financial and energy shares though gains in healthcare-related shares lent some support and kept the downside in check. Here's a list of a bunch of stocks that investors will keenly track in the first session of the week.
Domestic equity benchmarks Nifty50 and Sensex finished Friday's session about one per cent lower, as the 50-scrip index retreated from an all-time high scaled in intraday trade, amid heavy selling pressure in financial and energy shares. The Nifty lost 172.4 points to end at 22,475.9, after coming within five points of 22,800 for the first time, while the Sensex settled at 73,878.2, down 733 points for the day.
Here are a few stocks that investors will keenly track in the first trading session of the week:
Titan Q4 results fall short of analyst estimates
After market hours on Friday, Titan reported a 7.1 per cent year-on-year increase in net profit to Rs 786 crore for the January-March period, over revenue growth of 17 per cent. Analysts had estimated the Tata group jewellery and watch maker's quarterly net profit at Rs 799 crore, according to a Reuters poll. Analysts and traders said increased gold prices could dull demand during the wedding season in the country, forcing many retailers to offer large offers to lure customers.
DMart stages a decent Q4 show
Avenue Supermarts, which operates the DMart hypermarket outlets, staged a strong quarterly performance. Its March-quarter net profit grew 22 per cent to Rs 563 crore while revenue increased 20 per cent to Rs 12,727 crore, according to a regulatory filing.
According to Zee Business research, DMart was estimated to register a fourth-quarter net profit of Rs 580 crore and revenue of Rs 12,614 crore.
March quarter results
Britannia, J&K Bank, IDBI Bank, Kansai Nerolac, Tata Technologies and Mahindra Finance reported their financial results for the January-March period during the weekend.
Indian Overseas Bank
Indian Overseas Bank plans to sell 92 non-performing loans with an aggregate outstanding of Rs 13,471.7 crore through an e-auction on May 28. The PSU lender has invited expressions of interest (EoI) from asset reconstruction companies (ARCs) and other eligible transferees by May 13 to participate in the auction process.
REC gets RBI nod to set up subsidiary in GIFT City
State-owned REC has received approval from the RBI to establish a subsidiary in Gujarat's GIFT City. The proposed subsidiary will engage in a range of financial activities as a finance company within GIFT, including lending, investment, and other financial services.
Godrej Properties plans to launch Rs 30,000-crore housing projects in FY25
Godrej Properties plans to launch residential projects worth Rs 30,000 crore this fiscal across major cities to achieve 20 per cent growth in sales bookings amid strong demand, its executive chairperson Pirojsha Godrej said.
"We have given a sales bookings guidance of Rs 27,000 crore for the current fiscal, a 20 per cent growth from high base in 2023-24," Pirojsha told news agency PTI.
Muthoot Finance arm Belstar Microfinance files IPO papers
Muthoot Finance's microfinance arm, Belstar Microfinance, filed preliminary papers with capital markets regulator Sebi to raise Rs 1,300 crore through an IPO.
Cipla, Glenmark recall drugs from US market
Drug makers Cipla and Glenmark are recalling certain products from the US market due to manufacturing issues, according to the US Food and Drug Administration (FDA).
Paytm COO Bhavesh Gupta quits
Paytm parent One97 Communications' president and chief operating officer Bhavesh Gupta resigned from the company.
Go Fashion plans to open 120-150 new stores in FY25
Go Fashion (India), which owns women's wear brand Go Colors, has drawn up plans to add 120-150 net new stores in FY25. It added 94 stores in the last financial year, taking its total count to 714.
50+ firms to report quarterly results on Monday
Godrej Consumer Products, Lupin, Marico, Happiest Minds, Gujarat Gas, Cartrade, Suven Life Sciences, Muthoot Microfin, Indian Bank, and CG Power and Industrial Solutions are among the more than 50 companies scheduled to report their results on Monday.