Stocks to watch: Kotak Mahindra Bank, Tata Motors, Maruti Suzuki, TVS Motors & more
Upstox
3 min read • Updated: May 2, 2024, 9:04 AM
Summary
Stocks like Adani Enterprises, Adani ports, Dabur India, Federal Bank will remain in focus ahead of their Q4 earnings release on Wednesday.
Indian Markets are expected to open higher amid mixed cues from global markets. The US Federal Reserve kept the key rates unchanged as inflation remains steady in the world’s largest economy. The US markets closed mixed with Dow jones closing in the green with 0.25% gains, while Nasdaq and S&P 500 closing in the red.
Key stocks to watch
Q4 Earnings today: Companies such as Dabur, Federal Bank, Adani Enterprises, Adani Ports And Special Economic Zone, Ajanta Pharma, Ceat, Linc, Procter & Gamble Health, Pulsar International, and Ramkrishna Forgings will post their earnings today.
RVNL emerged as the lowest bidder for a ₹390 crore project in the eastern railway segment. The company will construct a bypass line under the Asansol division of eastern railways.
Godrej Group, the 127-year-old soaps-to-real estate conglomerate, is set for a split as the founding family has amicably sealed the terms to divide the businesses and assets among themselves. The pact to realign the ownership structure was announced late on Tuesday, April 30.
Kotak Mahindra Bank’s KVS Manian resigned as the joint Managing Director with effect from April 30. This follows as a second blow to Kotak Mahindra Bank after the RBI barred the bank from issuing new credit cards and onboarding new customers through online and net banking platforms.
On Wednesday, edible oil major Adani Wilmar reported a 67% increase in its consolidated net profit to ₹156.75 crore for the fourth quarter of March 2024.
Coal India's April production increased by 7.3% to 61.8 million metric tonnes vs 57.6 million metric tonnes in the same period as the previous year. Meanwhile, the offtake rose to 64.3 million metric tonnes during the same period.
TVS Motors sold 3.8 lakh units of vehicles in April 2024, up by 25% in the year-ago period. The total two-wheeler segment grew by 27% to 3.7 lakh units. However, the three-wheeler segment witnessed a drop of 21% in the same month.
Maruti Suzuki sold 1.68 lakh units in April, which is higher by 4.7% compared to a year ago. Domestic sales stood at 1.45 lakh units, growing by 1.6% YoY. At the same time, the exports grew strongly by 30.6% YoY to 22,160 units.
Tata Motors sold 77,521 units in April, which rose by 11.4% YoY. The passenger vehicle sales stood at 47,983 units, higher by 2%. Meanwhile, commercial vehicle sales jumped by 31% YoY to 29,538 units.
Ambuja Cements reported a 5.9% rise in the net profit for Q4FY24 at ₹532 crore. The revenue for the quarter increased by 12.3% YoY to ₹4,780 crore, with the sales volume rising to 9.5 million metric tonnes.