Godrej Consumer, Marico, Lupin, other stocks to track on Tuesday
Domestic equity benchmarks gave up intraday gains to finish flat on Monday as selling pressure in energy stock outweighed buying interest in IT and FMCG shares. Here's a list of stocks that will be in focus during the May 7 session.
At around 8:23 am, Gift Nifty futures traded higher by 0.23 per cent or 51.85 points at 22,602, indicating positive opening for the markets today. Domestic equity benchmarks Nifty50 and Sensex finished yet another volatile session on Monday on a largely flat note, giving up their intraday gains of 0.5-0.7 per cent, as selling pressure in energy shares outweighed buying interest in IT and auto stocks. The Sensex settled with a gain of 17.4 points at 73,895.5 whereas the Nifty50 took a hit of 33.2 points to end at 22,442.7.
Here are a few stocks that investors will keenly track in the second trading session of the week:
Godrej Consumer Products posts Q4 loss vs estimates of profit
Mumbai-headquartered FMCG giant Godrej Consumer Products reported a consolidated net loss of Rs 1,893 crore for the March quarter owing to a one-time charge of Rs 2,376 crore. Its quarterly revenue increased 5.8 per cent to Rs 3,386 crore.
According to Zee Business research, Godrej Consumer Products was estimated to log a consolidated net profit of Rs 514 crore and revenue of Rs 3,348 crore for the fourth and final quarter of FY24.
40+ companies all set to report March-quarter results on Tuesday
More than 40 firms are scheduled to report their financial results for the January-March period on May 7, including Dr Reddy's, Pidilite, IGL, Voltas, UBL, Latent View, SRF, KEC International IDFC Ltd, Chambal Fertilisers & Chemicals, and Sonata Software.
Britannia eyes double-digit volume growth post-general election, monsoon
Britannia Industries expects "double-digit growth" in volumes after the 2024 general elections and the monsoon season with a "manageable inflation", its Vice Chairman and Managing Director Varun Berry told investors on a post-earnings conference call. Berry also said the company is "hopeful of recovery in consumption" this financial year with an expectation of stable inflation and a good monsoon, and anticipates a "healthy inflation" of around 3.0 per cent in FY25.
Gujarat Gas posts better-than-expected Q4 earnings
Gujarat Gas clocks 85.9 per cent year-on-year growth in standalone net profit to Rs 409.5 crore with a 5.2 per cent increase in revenue to Rs 4,134 crore for the March quarter. Its margin improved by 410 basis points to 14.3 per cent.
Zee Business analysts had pegged the gas distributor's March-quarter net profit at Rs 409.5 crore, revenue at Rs 4,030 crore and margin at 13.6 per cent.
Gujarat Gas declared a dividend of Rs 5.66 per share.
Suven Life Sciences quarterly loss narrows
Suven Life Sciences reports a net loss of Rs 26.5 crore for the quarter ended March 2024 as against a net loss of Rs 27.6 crore a year ago.
Its revenue declines 11.5 per cent on a year-on-year basis to Rs 2.4 crore, according to a regulatory filing.
Route Mobile reports tepid quarterly results
Route Mobile reports a 17 per cent sequential fall in net profit to Rs 88 crore for the March quarter.
Its margin improves by 10 basis points on a quarter-on-quarter basis to 12.3 per cent, according to a regulatory filing.
Wipro signs pact with Microsoft
Wipro signed an agreement with Microsoft for GenAI products.
VST Tillers Tractors unit launches tractors
VST Zetor, a JV of VST Tillers Tractors and HTC Investments, launched three tractors, in the 41-50 HP range, in the domestic market.
HCLTech, OFSS to trade ex-dividend
HCLTech and OFSS shares are all set to trade ex-dividend on Tuesday.
Lupin Q4 PAT misses analyst estimates
Drug maker Lupin clocks 52 per cent growth in net profit to Rs 359 crore with a 12 per cent increase in revenue to Rs 4,961 for the March quarter.
According to Zee Business research, the pharma firm's March-quarter net profit was estimated at Rs 559 crore and revenue at Rs 5156 crore.