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Stocks to watch on May 21: Oil India, India Cements, Signature Global

Despite tech shares propelling the Nasdaq Composite to record highs, most Asia-Pacific markets saw declines

BSE, stock market, Stocks

Photo: Bloomberg

Tanmay Tiwary New Delhi

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Stocks to watch on May 21: Indian stock markets may open with slight gains on Tuesday, taking cues from a mixed performance in US and Asian markets. 

Despite tech shares propelling the Nasdaq Composite to record highs, most Asia-Pacific markets saw declines. Hong Kong’s Hang Seng dropped nearly 1 per cent, and Korea’s Kospi was down 0.33 per cent, while Japan’s Nikkei traded 0.23 per cent higher. 

In contrast, European markets concluded the day on a positive note, with Germany’s DAX soaring 0.35 per cent, and the UK’s FTSE advancing 0.05 per cent.

Locally, investors will be closely monitoring key earnings releases from major companies such as BHEL, Metropolis Healthcare, and Aether Industries. Additionally, today's earnings lineup includes reports from Eris Lifesciences, GPT Healthcare, Greenply Industries, GSFC, IRCON International, JK Tyre & Industries, Laxmi Organic Industries, PI Industries, Ramco Systems, RateGain Travel Technologies, Religare Enterprises, Va Tech Wabag, and Welspun Enterprises.

Given these developments, here are some stocks to track on for May 21

Oil India: the oil major’s profit decreased 10.5 per cent to Rs 2,333 crore compared to Rs 2,607.7 crore quarter-on-quarter (Q-o-Q). Its revenue slipped 4.9 per cent to Rs 9,147 crore from Rs 9,614.3 crore Q-o-Q. The company has also announced a bonus issue at a ratio of 1:2.

India Cements: The company’s net loss reduced to Rs 29.3 crore against a loss of Rs 217.8 crore on a year-on-year basis (Y-o-Y). Its revenue dropped 14.7 per cent to Rs 1,245.4 crore versus Rs 1,460.5 crore (Y-o-Y).

Wheels India: Wheels India net profit increased 79 per cent to Rs 38.3 crore compared to R Rs 21.4 crore year-on-year (Y-o-Y). Additionally, revenue experienced a modest uptick of 1.6 per cent to Rs 1,271.5 crore from Rs 1,250.9 crore Y-o-Y. The company's Ebitda surged 40.1 per cent to Rs 97.4 crore versus Rs 69.5 crore Y-o-Y, resulting in a margin of 7.7 per cent, up from 5.6 per cent Y-o-Y.

Signature Global: The company has bought 14.65-acre land worth Rs 350 crore in Gurugram. 

Solara Active Pharma: United States Food and Drug Administration (US FDA) concluded its inspection at compan’s Visakhapatnam facility with Zero 483 inspectional observation. The facility was inspected between May 14-17.

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First Published: May 21 2024 | 7:54 AM IST

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