Stocks to watch today: Tata Motors, Union Bank of India, BEML, Apollo APL, ITDC, JK Cement, Vedanta, others


Stocks to watch on May 13: The Indian stock market is ready for a new week starting from May 13, 2024. Several key factors will influence market movements, requiring attention from both experienced traders and those new to the game.

This week, markets will be influenced by CPI inflation data, fourth quarter earnings and global trends set to drive stock markets.

In the meantime, here are some stocks to watch on May 13:

state Bank of India

The country's largest lender State Bank of India (SBI) has reported an 18.18 per cent rise in its consolidated net profit for the March 2024 quarter (Q4FY24) at Rs 21,384.15 crore. Its total income rose to Rs 1.28 lakh crore during January-March 2024, higher than Rs 1.06 lakh crore a year ago.

In the last trading day on Friday, SBI shares slipped 0.16 per cent to close at Rs 818.35 on BSE.

Tata Motors

Net profit more than tripled in the fourth quarter, with the share price rising on Friday. Tata Motors has reported more than three-fold rise in its consolidated net profit for the March 2024 quarter to Rs 17,528.59 crore. Its total consolidated revenue from operations during January-March 2024 stood at Rs 1,19,986.31 crore, compared to Rs 1,05,932.35 crore in the year-ago period.

Tata Motors' net profit in the corresponding quarter last year stood at Rs 5,496.04 crore, Tata Motors said in a regulatory filing.

Shares of Tata Motors closed at Rs 1,046.85, up Rs 16.70 or 1.62 per cent on the BSE on Friday.

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Union Bank of India

State-owned Union Bank of India's net profit rose 19% year-on-year in Q4, providing a potential buying opportunity. The lender has reported a 19 per cent year-on-year (YoY) rise in its net profit at Rs 3,310.6 crore for the fourth quarter ended March 31, 2024. Its net interest income (NII) grew by 14.4 per cent in Q4 FY24. Rs 9,436.6 crore, compared to Rs 8,250.5 crore in the year-ago period.

Piramal Pharma

Piramal Pharma's net profit increased by 102.1 percent year-on-year, with revenue also increasing. Its net profit increased by 102.1 percent to Rs 101.3 crore for the fourth quarter ending March 2024. Meanwhile, its revenue from operations rose 18 per cent to Rs 2,552.4 crore from Rs 2,163.6 crore in the year-ago period.

JK Cement

JK Cement also recorded a strong performance in Q4, with net profit doubling y-o-y to Rs 219.7 crore. Its revenue grew 11.8 per cent to Rs 3,105.8 crore during January-March 2024, while its Ebitda grew 85.7 per cent to Rs 649.9 crore. Margins expanded 760 basis points (bps) to 20.3 per cent in Q4FY24 from 12.6 per cent in Q4FY23.

Bharat Earth Movers Limited (BEML)

BEML reported a strong performance in Q4, with net profit rising 62.8 per cent year-on-year to Rs 256.8 crore. Its revenue also saw a good growth of 9.1 percent to Rs 1,513.7 crore. Ebitda grew 29.2 per cent to Rs 370.4 crore, with margins improving from 20.7 per cent to 24.5 per cent on a year-on-year basis.

APL Apollo Tubes

APL Apollo Tubes' net profit declined by 15.6 percent to Rs 170.4 crore. However, its revenue rose 7.6 per cent to Rs 4,765.7 crore during January-March 2024. Ebitda fell 13.2 per cent to Rs 280.3 crore, resulting in margins declining to 5 per cent from 7.3 per cent year-on-year.

India Tourism Development Corporation (ITDC)

Despite a marginal decline of 3.8 per cent in revenue to Rs 147.8 crore, ITDC has reported a 68 per cent year-on-year rise in its net profit to Rs 32.4 crore. Its EBITDA grew 62 per cent to Rs 32.4 crore, leading to margin improvement from 13 per cent to 22 per cent year-on-year.

Vedanta

Vedanta has acquired 46.57 per cent more stake in Japanese display company Avanstrate Inc for $78.3 million. With this acquisition, Vedanta's total stake in Avanstrat has increased to 98.2 per cent.

Indian stock market is ready for the new week influenced by key events:

CPI inflation data: Investors are awaiting crucial Consumer Price Index (CPI) data on May 13 to assess inflation trends and the 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, which will impact their stock prices.

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  • Global Market Trends: International market developments will continue to influence investor sentiment in India.

    Last week's recap: Last week, BSE Sensex and Nifty saw a decline, with Sensex falling 1.64% and Nifty falling 1.87%. However, the week ended on a positive note with the market improving on May 10.

    Mohammad Haris

    Haris is the Deputy News Editor (Business) at news18.com. He writes on various issues

    first published: May 13, 2024, 08:29 IST

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