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Stocks to Watch, May 24: Bayer Crop, Landmark Cars, Shilpa Medicare

Across Asia, markets mirrored the losses seen in Wall Street, with Japan's Nikkei leading the decline with a drop of 1.22 per cent, followed by Korea's Kospi down nearly 1 per cent

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Tanmay Tiwary New Delhi

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Stocks to watch on May 24: Benchmark indices Nifty50 and Sensex could open lower on Friday, influenced by the subdued sentiment prevailing in global markets.

Across Asia, markets mirrored the losses seen in Wall Street, with Japan’s Nikkei leading the decline with a drop of 1.22 per cent, followed by Korea’s Kospi down nearly 1 per cent. Hong Kong's Hang Seng also traded lower by 0.26 per cent at 7:33 AM.

In Europe, markets closed with mixed results, as Germany's DAX edged up 0.06 per cent, while the UK's FTSE continued its downward trend, settling 0.37 per cent lower.

Back home, investors await the Q4 results of major players such as Hindalco Industries, Hindustan Copper, Glenmark Pharma, Ashok Leyland, NTPC, Bosch, Bajaj Healthcare, Cochin Shipyard, Suzlon Energy, Nazara Tech, and United Spirits, among others.

Given these developments, here are some stocks to track on for May 24

Bayer Cropscience: The company’s profit dropped 39.4 per cent to Rs 96 crore, down from Rs 158.5 crore in the previous year. Additionally, revenue decreased 19.4 per cent to Rs 791.5 crore compared to Rs 982.5 crore year-on-year.

Landmark Cars: The company’s profit plunged 55 per cent to Rs 11 crore in Q4FY24, from Rs 24.3 crore in the corresponding period. However, there was a slight increase in revenue, which rose 1.2 per cent to Rs 864 crore compared to Rs 853.8 crore previously.

Puravankara: In the fourth quarter of FY24, Puravankara incurred a loss of Rs 6.7 crore, against a profit of Rs 26.8 crore recorded in the corresponding period. Moreover, there was a a spike in revenue, surging 136.5 per cent to Rs 920 crore, compared to Rs 389 crore in the previous year.

Shilpa Medicare: The pharmaceutical company’s profit rose to Rs 24.5 crore in Q4FY24, from a loss of Rs 8 crore recorded in the corresponding period last year. Additionally, revenue showed a healthy growth of 10.7 per cent to Rs 291.7 crore.

Honasa Consumer: Honasa Consumer’s profit stood at Rs 30.5 crore in Q4FY24, a stark improvement from the loss of Rs 161.7 crore in the same period last year. Revenue also grew 21.5 per cent to Rs 471 crore compared to Rs 387.9 crore in the previous year

Precision Camshafts: Precision Camshafts’ profit plummeted 70 per cent to Rs 3.35 crore in Q4FY24, down from Rs 11.1 crore in the same period last year. Furthermore, revenue fell 8 per cent to Rs 256.2 crore compared to Rs 278.6 crore in the previous year.

Time Technoplast: The company’s profit grew 44.5 per cent to Rs 94.3 crore, up from Rs 65.2 crore. Moreover, the company’s revenue surged 17 per cent to Rs 1,394.3 crore compared to Rs 1,192.4 crore in the corresponding period.

Asian Granito India: Asian Granito’s Q4FY24 consolidated loss narrowed to Rs 5.5 crore compared to a loss of Rs 48.2 crore in the same period. However, revenue slipped 7 per cent to Rs 423.6 crore 

Bikaji Foods International: The food chain operator’s profit skyrocketed 200.6 per cent to Rs 116.3 crore, compared to Rs 38.7 crore in the same period. Meanwhile, revenue rose 33 per cent to Rs 614.4 crore, up from Rs 462.3 crore in the previous year.

Mangalore Chemicals and Fertilizers: In the fourth quarter, Mangalore Chemicals and Fertilzers saw a notable decline in its year-on-year profit, plunging 93 per cent to Rs 4.8 crore, down from Rs 67.9 crore in the corresponding period. 

CESC: The company’s profit decreased 6.7 per cent to Rs 415 crore, down from Rs 445 crore in the same period. On the revenue front, the company saw growth, with a 9.2 per cent increase to Rs 3,387 crore compared to Rs 3,102 crore in the previous year.

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First Published: May 24 2024 | 8:00 AM IST

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