[ad_1]
Actions to follow today on May 15: The week began with key results reports that will set the tone for the market. Investors should keep an eye on May 15, 2024: Bharti Airtel, Infosys, Tata Motors, Colgate-Palmolive, Mahindra and Mahindra, Bharti Hexa, Siemens and Cipla, among others.
This week, Indian financial markets will be largely influenced by fourth quarter earnings and global trends. Later this month, India’s official GDP data will also be announced, which will impact stocks in the last week of May and the first week of June.
In the meantime, here are some actions to watch out for on May 15:
Fourth Quarter Earnings Today: Dixon, JSL, Jyothy Lab, Mankind, MOIL, NLC India, PFC, TCI, Thomas Cook and Tijaria, among others, will announce their fourth-quarter results on Wednesday.
Bharti Airtel
Telecom operator Bharti Airtel recorded a 31 per cent drop in its consolidated profits to Rs 2,072 crore for the March 2024 quarter, mainly due to the devaluation of the Nigerian naira. Its consolidated revenue from operations during January-March 2024 rose 4.4 per cent to Rs 37,599.1 crore from Rs 36,009 crore a year earlier.
“Consolidated performance was mainly affected by the devaluation of the Nigerian naira. We added 7.8 million smartphone customers and delivered an industry-leading ARPU of Rs 209,” said Bharti Airtel CEO Gopal Vittal. Airtel suffered a foreign exchange loss of Rs 2,544.4 crore due to devaluation of the currency.
Colgate-Palmolive
Colgate-Palmolive (India) Ltd posted a 20.1 per cent rise in profit after tax (PAT) to Rs 379.8 crore for the March 2024 quarter. Its net sales during January-March 2024 increased to Rs 1,480.7 million, compared to Rs 1,341.7 million in the same period last year.
For the full fiscal year 2023-24, PAT grew 26.4 per cent year-on-year to Rs 1,323.7 crore from Rs 1,047.1 crore a year earlier, Colgate-Palmolive (India) said. In FY24, net sales grew 8.8 per cent to Rs 5,644.2 crore from Rs 5,187.9 crore in FY23, it added.
Tata Motors
Tata Motors recovered in the previous sessions. However, analysts recommend caution. Its shares, which fell nearly 9 percent on Monday, opened May 14 in green territory in morning trading. Shortly after, the stock fell into red territory for a brief period before finally recovering and ending the day with a 0.59 percent gain.
However, market analyst Manas Jaiswal advises investors to proceed with caution despite the rally. He notes that the stock remains below its crucial 50-day moving average, suggesting a possible downtrend. Furthermore, Jaiswal sees no clear signs of a reversal in the technical indicators.
“While there is a support level around Rs 940, a break below this point could see the stock fall to Rs 910. It is recommended to wait for the price to rise above Rs 982 before considering a buy” , he added.
infosys
Infosys has announced a multi-year strategic collaboration with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), to optimize and modernize FAB’s IT infrastructure services.
Mahindra and Mahindra
Mahindra Holdings Ltd (MHL) has announced the sale of its 30.84 per cent stake in New Delhi Center For Sight (NDCFS) for Rs 425.4 crore to Space Investments, Defati Investments & Infinity Partners.
As per the agreement, MHL will sell its entire 30.83 per cent stake in NDCFS for Rs 425.39 crore.
Cipla
The promoter family and Okasa Pharma could sell a 2.53 per cent stake worth Rs 2,637 crore through a block deal, according to CNBC-Awaaz citing sources. The price at which the Cipla block is expected to be produced is between Rs 1,289.50 and Rs 1,357.35 per share.
Siemens
Siemens has posted a whopping 70.2 per cent rise in its consolidated net profit to Rs 803 crore for the March 2024 quarter, with healthy growth in both revenue and operating figures. Its operating income during January-March 2024 amounted to Rs 5,750 crore, an increase of 18.4 per cent over the corresponding period of the previous fiscal year. It received new orders worth Rs 5,184 crore.
Bharti Hexacom
Bharti Hexacom posted a 10.2 per cent rise in its net profit to Rs 222.6 crore for the March 2024 quarter, with strong operating margin performance. Its operating income during January-March 2024 rose 7.8 percent year-on-year to Rs 1,868 crore for the quarter.
Shree Cement
Shree Cement posted a 21 per cent year-on-year rise in its net profit to Rs 662 crore for the March 2024 quarter (fourth quarter), with strong growth in operating numbers. Its operating income during January-March 2024 increased 7 percent to Rs 5,101 crore, and sales volume increased 8 percent to 9.53 million tonnes.
Apollo Tires
Top Videos
See everything
Four Delhi hospitals receive bomb threat emails; Police say investigation has begun
PM Modi says I have many Muslim friends, image tarnished after 2002
Nervousness is not in my dictionary: PM Narendra Modi
PM Modi: Entire country is my family, I live for 140 million people
Swati Maliwal has not yet filed a complaint for alleged assault and remains incommunicado
Apollo Tires posted a net profit of Rs 354 crore for the March 2024 quarter, down 13.7 per cent from last year, hit by an exceptional loss of Rs 36.8 crore (against an exceptional profit of 22.6 crore YoY). and higher tax costs.
Moderate revenue growth also weighed on profits as revenue from operations grew 0.2 per cent year-on-year to Rs 6,258 crore during the quarter.
first published: May 15, 2024, 08:29 IST
