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Stocks to watch on May 29: RIL, NBCC, Hindalco, IRCTC, Grasim Industries

Stocks to watch on May 29: NBCC's Q4FY24 revenues surged by 43.1 per cent year on year (YoY) to Rs 4,025 crore compared to Rs 2,813 crore in Q4FY23

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Illustration: Binay Sinha

Shivam Tyagi New Delhi

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Stocks to watch on Wednesday, May 29, 2024: The benchmarks Sensex and Nifty are looking at downward open on Wednesday, tracking negative global cues. The GIFT Nifty futures signal gap-down start, as they quoted only 97 points below Nifty 50 futures at 22,840.

The Asia-Pacific markets showed a mixed trend of highs and lows this morning, with Japan's Nikkei 225 falling 0.32 per cent, and broader Topix index slipping 0.18 per cent.

South Korea's Kospi was down by 0.79 per cent, while the small-cap Kosdaq slipped 0.76 per cent. Meanwhile, Australia's S&P/ASX 200 dropped by 0.97 per cent.

Futures for Hong Kong's Hang Seng index were trading 1 per cent lower at 18,632 levels.

Meanwhile, back home here are some stocks to watch on Wednesday:

NBCC India: The company’s Q4FY24 revenues surged by 43.1 per cent year on year (YoY) to Rs 4,025 crore compared to Rs 2,813 crore in Q4FY23. Earnings before interest, tax, depreciation (Ebitda) more than doubled to Rs 243  in Q4FY24 crore from Rs 104 crore in Q4FY23, with a margin increase to 6 per cent from 3.7 per cent. Net profit also saw a significant rise of 24.5 per cent YoY to Rs 141 crore in Q4FY24 from Rs 114 crore in the previous year quarter. 

Reliance Industries: It has inked a one-year deal with Russia's Rosneft to purchase at least 3 million barrels of oil per month in roubles.

Hindalco: Aditya Birla Group’s Hindalco Industries is set to list its US subsidiary Novelis on the New York Stock Exchange (NYSE),  offering 45 million shares at $18-21 apiece. This represents 7.5 per cent of Hindalco’s current stake in the company, according to public disclosures made on Tuesday. Novelis’ initial public offering (IPO) could generate up to $945 million for Hindalco Industries as proceeds from the offer for sale. 

Grasim Industries: Promoter Birla Group Holdings Private Limited (BGHPL) has increased its stake in Grasim Industries by 4.08 per cent, raising it from 19.10 per cent to 23.18 per cent.

IRCTC: The state owned railway company’s Q4FY24 earnings showed a 1.9 per cent increase in net profit to Rs 284.2 crore from Rs 278.8 crore YoY. Revenue surged by 19.7 per cent to Rs 1,154.8 crore from Rs 965 crore YoY. Ebitda rose by 11.6 per cent to Rs 362.4 crore from Rs 324.6 crore YoY, with a margin decline to 31.4 per cent from 33.6 per cent YoY.

Aditya Birla Fashion And Retail: The company’s consolidated revenue grew by 18.3 per cent YoY to Rs 3,407 crore in Q4FY24 from Rs 2,880 crore. Ebitda surged by 47.1 per cent to Rs 284 crore from Rs 193 crore, with a margin increase to 8.3 per cent from 6.7 per cent. However, the company reported a net loss of Rs 266 crore, wider than the loss of Rs 195 crore in the previous year.

Amara Raja Energy: The firm reported its Q4 earnings, showing a 61.4 per cent increase in net profit to Rs 229.8 crore from Rs 142 crore YoY. Revenue grew by 19.5 per cent to Rs 2,908 crore from Rs 2,433.2 crore YoY. Ebitda rose by 16.2 per cent to Rs 410.4 crore from Rs 353.2 crore YoY, with a margin decline to 14.1 per cent from 14.5 per cent YoY.

Gujarat Narmada Valley Fertilisers and Chemicals: It reported a consolidated revenue decline of 7.1 per cent YoY to Rs 2,110 crore in Q4FY24 from Rs 2,271 crore in Q4FY23. Ebitda dropped by 60.7 per cent to Rs 145 crore from Rs 369 crore, with a significant margin decrease to 6.9 per cent from 16.2 per cent. Net profit fell by 61.3 per cent YoY to Rs 130 crore in Q4FY24 from Rs 336 crore. The board recommended a dividend of Rs 16.5 per share.

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First Published: May 29 2024 | 7:25 AM IST

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