🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• Hitachi Energy India: The company reported a robust 79.7% jump in Q4 net profit to ₹330.5 crore, driven by a 46.2% surge in revenue. The board has also recommended a final dividend of ₹8 per share.
• Life Insurance Corporation (LIC): LIC emerged as the most profitable Indian financial firm for the March quarter, posting a net profit of ₹23,420 crore, a 23% year-on-year increase, surpassing both SBI and HDFC Bank in quarterly earnings.
• Amara Raja Energy & Mobility: The firm saw its quarterly profit nearly double, surging 94.5% to ₹314.3 crore, while revenue grew by 15.5% to ₹3,535.8 crore.
• Vodafone Idea: Shares will be in focus as CRISIL Ratings upgraded the company’s rating to 'A-' with a stable outlook, following its successful ₹35,000 crore fundraise plan through a consortium of banks.
• Awfis Space Solutions: The flexible workspace provider reported a 107% rise in quarterly profit to ₹23.2 crore, with revenue growing 20.7% year-on-year.
• Pine Labs: The fintech major turned profitable during the March quarter, recording a profit of ₹59.4 crore compared to a loss in the same period last year.
• NLC India: The company signed a Memorandum of Understanding (MoU) with Nuclear Power Corporation of India (NPCIL) to form a joint venture for establishing nuclear power projects.
• Jupiter Wagons: The company announced securing significant new orders in the Battery Energy Storage Systems (BESS) segment, aiming for an order book of ₹2 billion by FY27.

Neutral Developments

• Market Opening: GIFT Nifty indicates a muted to negative start, trading at a discount of nearly 60-90 points, suggesting some profit-booking after Monday's 1.4% surge.
• Earnings Today: A high-volume results day is expected with ONGC, Siemens, IRCTC, Senco Gold, JK Tyre, and General Insurance Corporation (GIC) scheduled to announce their Q4 performance.
• Ex-Dividend Stocks: Several companies will trade ex-dividend today, including Dhampur Sugar Mills (₹2), GPT Infraprojects (₹1), Hatsun Agro Product (₹10), and IRB Infrastructure Developers (₹0.05).
• Corporate Actions: F Mec International Financial Services will undergo a 1:10 bonus issue and a stock split (from face value ₹10 to ₹2) today. IB Infotech Enterprises will also implement a 1:10 stock split.

Negative News

• Suzlon Energy: Despite a 45% surge in revenue, the company reported a 5.6% decline in consolidated net profit to ₹1,114 crore for Q4, primarily due to lower deferred tax credit benefits.
• Container Corporation of India (CONCOR): The logistics major reported a 12.4% year-on-year decline in consolidated profit to ₹262.7 crore, with revenue also slipping slightly by 1.1%.
• Info Edge (India): Analysts have turned cautious after the company's full-year earnings fell short of consensus estimates, leading to a downward revision in target prices by several brokerages.
• Data Patterns (India): Investors are closely monitoring the stock following concerns over its low free cash flow conversion despite reporting decent statutory profits.

TAGS: Stocks in News, Stock Market, Buzzing Stocks, Nifty, Sensex

Tags: Stocks in News Stock Market Buzzing Stocks Nifty Sensex