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Stocks to watch on May 18: Indian benchmark indices Sensex and Nifty50 may open on a positive note, tracking the Wall Street gains.
On Friday, equities in the US surged, with the Dow Jones closing above the historic 40,000-level for the first time ever, building on the momentum from the previous trading session.
The 30-stock average climbed 0.34 per cent, while the S&P 500 settled 0.12 per cent higher. However, the Nasdaq Composite experienced a slight dip of 0.07 per cent.
In the domestic market, foreign institutional investors (FIIs) reversed their selling trend, turning buyers and purchasing equities worth Rs 1,616.79 crore, on May 17. Meanwhile, domestic institutional investors (DIIs) continued their buying streak, acquiring shares valued at Rs 1,556.25 crore.
Here are few stocks to keep an eye on May 18:
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Vodafone Idea (Vi): The company disclosed its strategic initiatives during a conference call post Q4 earnings. The company is directing capital expenditure towards enhancing its 4G service coverage, aiming to expand its subscriber base. Additionally, Vi has fulfilled its minimum rollout obligations for 5G. Vi's management stressed upon its robust digital roadmap, which the company has diligently executed, positioning the company for future growth and competitiveness.
Zydus Life: The pharma major reported a considerable increase in consolidated net profit as it reached Rs 1,182 crore for the March quarter (Q4FY24), up from Rs 296 crore in the same period last year. Revenue rose 10 per cent to Rs 5,533 crore.
JSW Steel: The steel giant’s profit plunged 64.66 per cent year-on-year (Y-o-Y) to Rs 1,322 crore for the fourth quarter, as compared to Rs 3,741 crore in the previous year.
RVNL: The state-owned company’s profit rose 33.2 per cent to Rs 478.6 crore. Revenue soared 17.4 per cent to Rs 6,714 crore, and Ebitda surged 21.8 per cent to Rs 456.4 crore.
Zee Entertainment: The company witnessed a turnaround with a profit of Rs 13.4 crore compared to a loss of Rs 196 crore in the previous year. Revenue increased 2.7 per cent to Rs 2,169 crore, with Ebitda rising 38.4 per cent to Rs 209 crore.
Godrej Industries: The company reported a net loss of Rs 321.8 crore compared to a profit of Rs 300.1 crore year-on-year, with revenue declining 6 per cent to Rs 4,567.3 crore and Ebitda decreasing 23.6 per cent to Rs 457.8 crore.
Shipping Corporation of India: Its profit dropped to Rs 307 crore in Q4FY24, from 380 crore in Q4FY23. Revenue fell marginally to Rs 1,413 crore, from Rs 1,420 crore. Ebitda also decreased to Rs 407 crore, from Rs 465 crore.
Bandhan Bank: The private lender’s profit plummeted 94 per cent to Rs 54.6 crore from Rs 808.3 crore in the corresponding period last year due to increased provisions and write-offs.
Delhivery: The logistics company narrowed its loss to Rs 68.4 crore from Rs 158.6 crore year-on-year, with revenue increasing 11.6 per cent to Rs 2,075.5 crore and Ebitda improving to Rs 45.8 crore, from Rs 13.3 crore.
Sobha: The real estate developers’ net profit fell to Rs 7 crore, from Rs 49 crore year-on-year, with revenue decreasing 37 per cent to Rs 762.8 crore and Ebitda declining 46.4 per cent to Rs 62 crore.
Apollo Tyres: The tyre giant announced the acquisition of a 5.09 per cent shareholding of Green Infra Wind Energy Generation.
