Stocks to watch: Dr Reddys, JSW Energy, PB Fintech, Dixon Technologies & more
Upstox
2 min read • Updated: May 8, 2024, 8:45 AM
Summary
LT, Dr Reddy's, JSW Energy, Hero Motocorp, Dixons technologies, PB Fintech will remain in focus on Wednesday
Indian Markets are expected to open lower, taking cues from sluggish global markets. The Asian markets are trading in red this morning as Japanese and Korean markets are trading lower on Wednesday morning
Key stocks to watch
JSW Energy reported 22% YoY jump in net profit at ₹345.3 crore for Q4FY24 vs ₹282 crore in the previous year corresponding quarter. In addition, the board also approved fundraising plans of ₹10,000 crore.
Voltas posted a 42% jump in the Q4FY24 revenue led by strong demand scenario to ₹4,209 crore vs ₹2,957 crore in Q4FY23. However, net profit for the quarter declined by 22% YoY to ₹110 crore for the quarter.
On May 8, 2024, firms such as infrastructure company Larsen & Toubro (L&T), automobile companies Hero MotoCorp and TVS Motor, electric power distribution company Tata Power, and Zinc Oxide manufacturer JG Chemicals, among others, will declare their results for the January-March quarter that ended March 2024 (Q4 FY24)
Dr Reddy’s reported robust performance across the board in the Q4 results. The company’s net profit for the quarter increased by 36% YoY to ₹1,310 crore vs ₹960 crore. The operational profit also grew by 19% YoY to ₹1831 crore for Q4FY24 and revenue increased by 12.6% YoY to ₹7,114 crore. The board recommended a final dividend of ₹40 per share.
United Breweries reported allround strong performance in the Q4FY24 results. The revenue for the quarter increased by 17% YoY to ₹2,133 crore vs ₹1,766 crore in Q4FY23. While the EBITDA improved by 166% to ₹143 crore and net profit jumped multifold to ₹81.5 crore vs ₹9.8 crore in the previous year similar quarter.
PB Fintech, the parent company of policy bazaar, an insurance trading platform, reported 61% rise in net profit for the quarter at ₹60.1 crore vs ₹37.2 crore in previous year same quarter.
Dixon Technologies arm, Dixon appliances entered into a pact with Nokia for development and manufacturing of telecom products
Patel Engineering emerged as the lowest bidder for an irrigation project worth ₹343 crore .