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Stocks to watch: Shares of firms like ITC, IRCTC, Info Edge, Bharat Dynamics, SAIL, NMDC, and others will be in focus on Wednesday’s trade
Stocks To Watch
Stocks To Watch On May 28: Indian equities ended lower on Tuesday amid heightened volatility, snapping a two-day rebound. As markets look for direction, several stocks will be in the spotlight on Wednesday due to earnings announcements and corporate developments.
Earnings to watch today
With 359 companies reporting, Wednesday is the busiest earnings day of the week. Key names include Cummins India, IRCTC, SAIL, 3M India, Deepak Nitrite, Cohance Lifesciences, JSW Holdings, Nuvama Wealth, Bata India, Natco Pharma, Finolex Cables, Granules India, Elgi Equipments, Avanti Feeds, MMTC, Ion Exchange, FDC, Mishra Dhatu Nigam, Juniper Hotels, Suprajit Engineering, and TVS Supply Chain.
Key Stocks in Focus
ITC:
British American Tobacco (BAT), the largest shareholder in ITC Ltd, is set to pare its stake in the diversified conglomerate. BAT currently holds 20.31% and is considering an on-market sale. The potential stake reduction could weigh on investor sentiment.
LIC:
Life Insurance Corporation of India declared a record 120% dividend despite a 3.2% decline in net premium income. The public insurer posted a strong 38% year-on-year jump in net profit for the March quarter.
IRCTC:
IRCTC is set to report its Q4 results today, drawing investor interest amid rising demand for travel and tourism services.
Bosch:
Bosch India posted a 16% rise in Q4 revenue, though net profit saw a slight dip. The board announced a record dividend of ₹512 per share, up from ₹375 last year.
Nmdc:
The state-run mining company reported an 8% rise in revenue and a 4.8% increase in net profit. However, operational costs squeezed its EBITDA margins.
P&G Hygiene:
Procter & Gamble Hygiene and Health Care reported a Q4 net profit of ₹156.1 crore on revenue of ₹991.6 crore. The company declared a generous ₹65 dividend per share.
Info Edge (India):
The Naukri.com parent announced its first dividend since its stock split. The board recommended a final dividend of ₹3.60 per share on a face value of ₹2.
Bharat Dynamics:
Defence PSU Bharat Dynamics reported a sharp 79% drop in Q4 revenue and a 90% decline in EBITDA. Net profit was also down 5.5% YoY. Despite the weak performance, the company announced a dividend.
Waaree’s Renewable Energy Arm:
Waaree Power Pvt Ltd has scrapped its planned acquisition of a 55% stake in Ewaa Renewable Techno Solutions, which was valued at ₹5.5 crore.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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