 "BSE, NSE, Indian share market, Stock market")
Stocks to watch on May 16: Sensex and Nifty50 are anticipated to kick off on a positive note on Thursday, following the upward trend seen in global markets.
At 6:40 AM, GIFT Nifty futures were up by 90 points, trading at 22,377.50 levels compared to Nifty50 futures, indicating a gap-up opening for the stock exchanges.
Meanwhile, Wall Street soared. The surge was fuelled by encouraging inflation figures. The country's April's inflation rate stood at 0.3 per cent on a month-on-month (MoM) basis, aligning with market expectations.
In the domestic market, on May 15, Foreign Institutional Investors (FIIs) recorded a net selling activity of Rs 2,832.83 crore, while Domestic Institutional Investors (DIIs) made net purchases amounting to Rs 3,788.38 crore in equities.
Meanwhile, here are the key stocks to keep an eye on for May 16
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M&M: Mahinda and Mahindra (M&M) is scheduled to announce its quarter four earnings of fiscal year 2023-24 (Q4FY24) today. The street expects the company to post net sales in the range of Rs 24,406 crore to Rs 23,814 crore, an estimated jump of 6-8 per cent year on year. M&M reported a revenue of Rs 22,571 crore in Q4FY23.
Berger Paints: The company'sQ4 net profit surged19.5 per cent to Rs 222.6 crore, as compared to Rs 185.7 crore from the previous year. Revenue also saw a 3.1 per cent uptick at Rs 2,520.3 crore versus Rs 2,443.6 crore in the previous year. However, Ebitda witnessed a slight dip of 4.8 per cent to Rs 361.1 crore from Rs 369 crore, resulting in a margin decrease from 15.1 per cent to 14 per cent.
Mankind Pharma: The pharma company's Q4 net profit soared 65.1 per cent to Rs 471.2 crore from Rs 285.4 crore in the previous year. Revenue also jumped 19 per cent to Rs 2,441.1 crore compared to Rs 2,052.7 crore, while Ebitda surged 41.8 per cent to Rs 591.1 crore from Rs 416.7 crore. Consequently, the margin expanded to 24.2 per cent from 20.3 per cent year-on-year.
MOIL: The company reported its Q4 earnings with a 12.6 per cent rise in net profit to Rs 91.1 crore from Rs 81 crore in the previous year. Despite a 2.8 per cent decline in revenue to Rs 416 crore from Rs 428.1 crore, Ebitda decreased 3.2 per cent to Rs 128.3 crore compared to Rs 132.6 crore. Consequently, the margin slid from 31 per cent to 30.8 per cent.
Titagarh Rail Systems: The company’s Q4 net profit soared 64 per cent to Rs 79 crore from Rs 48.2 crore in the previous year. Revenue also surged 8 per cent to Rs 1,052.4 crore compared to Rs 974.2 crore, while Ebitda witnessed a notable increase of 25.7 per cent to Rs 120 crore from Rs 95.5 crore. As a result, the margin rose to 11.4 per cent from 9.8 per cent year-on-year.
NLC India: The company’s Q4 net profit plummeted 86.2 per cent to Rs 114.2 crore compared to Rs 830 crore in the previous year. Revenue also saw a sharp decrease of 31 per cent to Rs 3,540 crore from Rs 5,134 crore, while Ebitda fell by 65 per cent to Rs 602.2 crore from Rs 1,722.4 crore. Consequently, the margin dropped from 33.6 per cent to 17 per cent.
