Tata Motors, BPCL, Bharti Airtel, other stocks to track on Friday
Share Market News (May 10): Domestic equity benchmarks Nifty50 and Sensex fell about 1.5 per cent each amid a broad-based sell-off on Thursday amid persistent volatility as investors awaited the outcome of the ongoing Lok Sabha elections.
Share Market News (May 10): At 8:13 am, Gift Nifty futures traded with gains of 0.25 per cent or 55.65 points at 22,128.5, suggesting positive opening for the markets today. Domestic equity benchmarks Nifty50 and Sensex fell about 1.5 per cent each amid a broad-based sell-off on Thursday, with the 30-scrip index losing 1,062.2 points to end at 72,404.2 and the broader Nifty gauge shedding 345 points to close 21,957.5—closing below the psychologically important 22,000 mark for the first time since April 18. Barring auto shares, all sectors faced selling pressure on Dalal Street.
Investors now await more quarterly numbers from India Inc as the earnings season gathers steam, with 29 out of the 50 Nifty companies having released their earnings reports.
Here's a list of stocks set to be in focus in the next session on Friday, May 10:
Market News Today: Tata Motors, Eicher Motors, Cipla, Bank of Baroda, Dr Lal Pathlabs among 90-odd companies to report March-quarter results on May 10
Tata Motors, Eicher Motors, Cipla, Bank of Baroda and Dr Lal Pathlabs are among some 90 companies slated to report their financial results for the quarter as well as the year ended March 31, 2024, on May 10.
Besides, Sapphire Foods India, VIP Industries, Dilip Buildcon, Thermax, Punjab & Sind Bank, Union Bank of India, Bank of India, Aarti Industries, Polycab India, and Venky's are also scheduled to report their numbers on the same day.
Market News Today: BPCL Q4 PAT rises 24% but misses analysts' estimates
State-run oil marketing company has reported a standalone net profit of Rs 4,224.2 for the quarter ended March 31, up 24.3 per cent sequentially.
According to Zee Business research, BPCL's March-quarter net profit was estimated at Rs 5,474 crore.
Market News Today: Godrej Agrovet Q4 PAT grows 3x
Godrej Agrovet has clocked a three-fold jump in consolidated net profit to Rs 65.5 crore for the March quarter on the back of higher sales and a reduction in expenses.
Market News: Bharti Airtel board to consider dividend on May 14
Private sector telecom service provider Bharti Airtel's board is scheduled to meet on May 14 to consider a dividend.
Market News Today: Airline stocks to remain in focus on Dalal Street
A section of Air India Express cabin crew has decided to withdraw strike and join back for duty after the airline assured to look into all the issues raised by the cabin crew, according to a report by news agency PTI citing sources.
The airline has agreed to withdraw the termination letters issued to 25 cabin crew and the management will review the cases as per service regulations, according to the report.
Market News Today: Gold jewellery set to shine on Akshaya Tritiya 2024
Jewellery stocks are likely to be in the spotlight on the occasion of Akshaya Tritiya, a day that typically sees a rush of consumers buying gold ornaments. The future of gold remains dynamic, shaped by various global factors such as central bank policies, the geopolitical scenario, and economic indicators, according to Religare Broking.
"While the gains seen in the current year are commendable, the historical trend of higher returns during turbulent periods highlights gold's potential to flourish amidst heightened uncertainty," according to the brokerage.
Market News Today: Is it a good time to buy gold?
Religare Broking suggests investors utilise every dip to accumulate gold through SIPs as long as the precious metal stays above Rs 68,500 per 10 grams. It is set an initial target at Rs 74,000, followed by Rs 78,000.
Conversely, a decisive break below the previous swing low of Rs.65,200 could disrupt the trend, potentially leading the yellow metal to retest the Rs 63,300-63,800 range, Religare Broking adds.
Market News Today: Abbott India results miss estimates
Drug maker Abbott India has reported a quarterly net profit of Rs 287 crore over revenue of Rs 1,439 crore. Its EBITDA for the January-March period stands at Rs 330 crore.
Zee Business analysts had pegged its March-quarter net profit at Rs 312 crore, revenue at Rs 1,471 crore, and EBITDA at Rs 390 crore.
Market News Today: Mahanagar Gas Q4 results fall short of estimates
MGL registers a sequential fall of 16.5 per cent in standalone net profit to Rs 265 crore and its margin slides to 25.1 per cent from 28.6 per cent three months ago. Zee Business analysts had estimated MGL's March-quarter net profit at Rs 295 crore and margin at 26.9 per cent.
Market News Today: LIC, ICICI Pru, HDFC Life, Max Life, other life insurance stocks in focus
Monthly data of a bunch of insurance companies has been released. While the new business premium of Life Insurance Corp (LIC) has more than doubled, it has increased 41 per cent for Max Life, 28 per cent for ICICI Pru, 26 per cent for SBI Life, and 4.3 per cent for HDFC Life in April, according to the data.
Market News Today: Brigade Enterprises to develop residential project in Bengaluru's Old Madras Road
Real estate company Brigade Enterprises will develop a residential project located at Old Madras Road in Bengaluru at a gross development value of Rs 600 crore.
Market News Today: Suryoday Small Finance Bank stages good Q4 show
Suryoday Small Finance Bank has clocked a 56 per cent jump in standalone net profit to Rs 61 crore with 29 per cent growth in NII to Rs 271 crore for the January-March period.
Its NIM is almost steady in double digits, at 10.1 per cent as against 10.4 per cent a year ago.
Market News Today: VST Tillers Q4 results weak
VST Tillers & Tractors logs a 13 per cent fall in quarterly PAT, a 27 per cent drop in EBITDA, and a 240 bps decrease in margin to 13 per cent for the March quarter.
The farm equipment maker announced a final dividend of Rs 20 per share.