Stocks to watch: Tata Chemicals, RVNL, NMDC, Exide Industries & more
Upstox
2 min read • Updated: April 30, 2024, 9:03 AM
Summary
Foreign institutional investors turned net buyers on Monday by buying Indian equities worth ₹169 crore. While domestic institutional investors continued their buying spree with ₹692 crore of Indian equities.
Indian markets are expected to open positively, taking cues from buoyant global markets. Asian markets are trading positive on Tuesday after PMI data in Japan showed increased industrial activity. The US markets closed positively, led by buoyancy in the tech stocks earnings.
Foreign institutional investors turned net buyers on Monday by buying Indian equities worth ₹169 crore. At the same time, domestic institutional investors continued their buying spree with ₹692 crore of Indian equities.
Key stocks to watch
Tata Chemicals reported a net loss of ₹841 crore in Q4FY24, a substantial drop from the figures reported in the year-ago period. The company's revenue from operations for the period fell over 21% to ₹3,475 crore in the March quarter compared to ₹4,407 crore in the year-ago period.
Trent posted a multifold rise in net profit at ₹712 crore after the company recorded an exceptional gain during the quarter worth ₹543 crore. Consolidated net revenue of Trent Ltd in Q4FY24 stood at ₹3297.7 crore, which rose by 51.08% YoY from ₹2182.75 crore in Q4FY23.
NMDC increased lump ore prices by ₹400 to ₹6200 per tonne. The prices of fine ore prices also increased by ₹200 per tonne to ₹5260 per tonne.
RVNL received a letter of acceptance from Southern Railways for the redevelopment of Thiruvananthapuram railway station under the EPC model. The project cost is slated to be ₹438 crore, while the company's share in the project is 49%.
Exide Industries, Cholamandalam Investment & Finance, REC, Indian Oil Corporation, and Adani Total Gas are some of the key companies declaring their Q4 earnings today.