Stocks To Watch On May 13: The Indian stock market buckles up for a new week starting May 13, 2024. Several key factors will influence market movements, demanding close attention from both seasoned traders and those new to the game.
This week, the markets will be influenced by CPI inflation data, Q4 earnings and global trends set to drive the stock markets.
Meanwhile, here are some stocks to watch on May 13:
State Bank of India
State Bank of India (SBI), the country’s largest lender, has reported an 18.18 per cent rise in its consolidated net profit to Rs 21,384.15 crore for the March 2024 quarter (Q4 FY24). Its total income during January-March 2024 rose to Rs 1.28 lakh crore, higher as compared with Rs 1.06 lakh crore a year ago.
In the last trading day on Friday, SBI’s shares slipped 0.16 per cent to close at Rs 818.35 apiece on the BSE.
Tata Motors
Net profit soared over threefold in Q4, with its share price rising on Friday. Tata Motors has reported an over three-fold jump in its consolidated net profit to Rs 17,528.59 crore for the March 2024 quarter. Its total consolidated revenue from operations during January-March 2024 stood at Rs 1,19,986.31 crore, compared with Rs 1,05,932.35 crore in the year-ago period.
Tata Motors’ net profit had stood at Rs 5,496.04 crore in the corresponding quarter last year, Tata Motors said in a regulatory filing.
Shares of Tata Motors on Friday rose Rs 16.70 or 1.62 per cent to close at Rs 1,046.85 apiece on the BSE.
Union Bank of India
State-owned Union Bank of India’s net profit jumped 19% YoY in Q4, offering potential buying opportunities. The lender has posted a 19 per cent year-on-year (YoY) jump in its net profit to Rs 3,310.6 crore for the fourth quarter ended March 31, 2024. Its net interest income (NII) in Q4 FY24 rose 14.4 per cent to Rs 9,436.6 crore, compared with Rs 8,250.5 crore in the year-ago period.
Piramal Pharma
Piramal Pharma’s net profit surged 102.1 per cent YoY, with revenue also experiencing growth. It has posted 102.1 per cent YoY surge in its net profit to Rs 101.3 crore for the fourth quarter ended March 2024. Meanwhile, its revenue from operations rose 18 per cent to Rs 2,552.4 crore, against Rs 2,163.6 crore in the year-ago period.
JK Cement
JK Cement also reported robust performance in Q4, with net profit doubling to Rs 219.7 crore on a yearly basis. Its revenue during January-March 2024 jumped 11.8 per cent to Rs 3,105.8 crore, while its Ebitda rose 85.7 per cent to Rs 649.9 crore. Margin expanded to 760 basis points (bps) 20.3 per cent in Q4FY24, from 12.6 per cent in Q4FY23.
Bharat Earth Movers Limited (BEML)
BEML has posted a strong performance in Q4, with net profit soaring 62.8 per cent year-on-year (YoY) to Rs 256.8 crore. Its revenue also witnessed a healthy uptick of 9.1 per cent to Rs 1,513.7 crore. Ebitda surged 29.2 per cent to Rs 370.4 crore, with an improvement in margin to 24.5 per cent from 20.7 per cent year-on-year basis (Y-o-Y).
APL Apollo Tubes
APL Apollo Tubes has posted a 15.6 per cent decline in its net profit to Rs 170.4 crore. However, its revenue during January-March 2024 grew 7.6 per cent to Rs 4,765.7 crore. Ebitda dipped 13.2 per cent to Rs 280.3 crore, resulting in a margin contraction to 5 per cent from 7.3 per cent YoY.
India Tourism Development Corporation (ITDC)
ITDC has posted a 68 per cent YoY jump in its net profit to Rs 32.4 crore, despite a slight fall in revenue by 3.8 per cent to Rs 147.8 crore. Its Ebitda surged 62 per cent to Rs 32.4 crore, leading to a margin improvement to 22 per cent from 13 per cent Y-o-Y.
Vedanta
Vedanta has acquired 46.57 per cent more stake in Japanese display major AvanStrate Inc for $78.3 million. With this acquisition, Vedanta’s total holding in AvanStrate has risen to 98.2 per cent.
The Indian stock market gears up for a new week influenced by key events:
CPI Inflation Data: Investors await the crucial Consumer Price Index (CPI) data on May 13 to gauge inflation trends and potential impact on interest rates.
Q4 Earnings Season: Listed companies like DLF, Zomato, Bharti Airtel, and Mahindra & Mahindra are set to report their quarterly earnings this week, influencing their stock prices.
Global Market Trends: International market movements will continue to shape investor sentiment in India.
Last Week’s Recap: The BSE Sensex and Nifty witnessed a decline last week, with the Sensex falling 1.64% and the Nifty dropping 1.87%. However, the week ended on a positive note with a market recovery on May 10th.