Stocks to watch: HPCL, BPCL, Lupin, Gujarat Gas & more
Upstox
2 min read • Updated: May 7, 2024, 9:04 AM
Summary
FII continued their selling spree in the Indian equities on Monday as well, and they collectively sold equities worth ₹2,168 crore, while DII bought little Indian equities worth ₹781 crore on Monday.
Indian markets are expected to open positively, taking cues from positive global markets. The US markets continued their rally as their unemployment and non-farm payroll data indicated a slowdown, thereby giving some hope for the US Federal Reserve to cut rates in coming quarters. On Tuesday morning, Asian markets are largely trading positive, with Japanese and Hong Kong indices rising by over 1% in the morning trade.
FII continued their selling spree in the Indian equities on Monday as well, and they collectively sold equities worth ₹2,168 crore, while DII bought little Indian equities worth ₹781 crore on Monday.
Key stocks to watch
BPCL & HPCL board to consider a proposal for bonus issue on May 9 during its board meeting.
Gujarat Gas recorded 86% sequential growth in net profit at ₹409 crore as the revenue increased by a marginal 8.5% QoQ to ₹4,134 crore in Q4FY24. The company also recommended a dividend of ₹5.66 per share.
Pidilite Industries, United Breweries, IDFC, Delta Corp, KEC International, Indraprastha Gas, Jindal Saw, and Credit Access Grameen, among others will also declare their results for the March 2024 quarter on May 7.
Muthoot MicroFinance disbursals up 18% at ₹2,887.9 cr vs ₹2,447.5 cr, AUM up 32.4% at ₹12,193.5 cr vs ₹9,208.3 cr
Arvind Smartspaces, the real estate vertical of Arvind group, posted robust Q4 profit at Rs 19.5 crore, up by 86.1 % YoY, and Revenue at Rs. 117 crore, up by 26.6 % YoY.
Olectra Green has achieved a milestone by surpassing 10,000 units in its e-bus order book for the first time.
Lupin recorded strong results for Q4, with net profit rising 52% YoY to ₹359 crore as the company’s operational performance improved substantially to ₹997 crore, up by 72% YoY. The company recorded a 12% increase in top-line
Prudent Corporate Advisory Services reported 8.1% growth in its Q4FY24 net profit at ₹44.6 crore, while the revenue for the quarter grew by 35.4% YoY to ₹239 crore.
LTI Mindtree has received a tax demand notice of ₹155 crore from the GST department of Commissioner of State Tax, Mumbai, for FY19.