2024-05-17 06:20:32
Stocks to watch-
Mahindra & Mahindra: M&M reported a 31.6% YoY increase in net profit to ₹2,038.21 crore in Q4FY24. Revenue from operations rose by 11.24% to ₹25,108.97 crore. The company's EBITDA increased by 12% to ₹3,119 crore, while the EBITDA margin remained at 12.4%. The board recommended a dividend of 21.10 per share, and approved an investment of ₹12,000 crore in its EV unit, Mahindra Electric Automobile Ltd (MEAL).
Vedanta: The company plans to raise ₹8,500 crore through equity or debt, and it declared an interim dividend that will cost ₹4,089 crore. The company will issue a dividend of 11 per share. The company also announced an investment in its Saudi Arabian unit, Vedanta Copper International Ltd (VCI), for setting up a continuous cast copper rod plant.
HAL: The company's profit went up by 52.2% year- on-year to ₹4,308.7 crore. It delivered an EBITDA margin of 40% for the March quarter. For financial year 2024, Hindustan Aeronautics reported revenue of ₹30,380 crore.
Vodafone Idea: The company's losses widened to ₹7,666 crore in Q4FY24, from ₹6,424 crore the previous year. Revenues improved marginally to 10,639 crore, due to improving subscriber mix, 4G subscriber additions, and change in entry level plan. The company, which raised 18,000 crore last month through India's largest FPO, is in talks with lenders to secure debt funding of ₹35,000 crore for network expansion.
Indian Energy Exchange: The company reported a 14.7% increase in its consolidated net profit for 2023-24, helped by higher trade volumes and positive regulatory changes. The company's profit improved to ₹350.8 crore in FY24 from ₹305.9 crore in the previous year, with total revenue jumping 16.2% to 550.8 crore.
Biocon: The company reported a decline of 57% in consolidated net profit at 135.5 crore in Q4FY24, compared to ₹313.2 crore in the corresponding period last year. The company's revenue from operations in the fourth quarter of FY24 stood at 3,917 crore, registering a rise of four per cent, compared to ₹3,774 crore in the year-ago period.
Wipro: The company's former CEO, Thierry Delaporte, has sold shares worth ₹34.5 crore over the past month, taking his total earnings since he resigned from the company on 6 April to ₹70.63 crore, or about $8.5 million.
PB Fintech: Yashish Dahiya, chairman and CEO of PB Fintech, and Alok Bansal, vice-chairman are set to sell a combined stake of 1.86% in the company, translating to an estimated total deal value of 1,053 crore (approximately $126 million).
Crompton Greaves: The company's net profit rose by 1.4% to 133.43 crore YoY, and revenue increased by 9.5% to 1,961 crore. The board recommended a dividend of ₹3 per share.
eClerx Services: The company's net profit fell by 1.5% to 130.5 crore YoY, while revenue rose by 10.6% to ₹766.5 crore.
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