Stocks to Monitor: Timken, LIC, NMDC, Inox Wind, Hudco, Dish TV, Goodyear

Stocks to watch on Tuesday, May 28, 2024: Indian equities are poised for a positive start, as indicated by GIFT Nifty. The GIFT Nifty futures were trading 37 points higher than the Nifty 50 futures, at 23,018. In the Asia-Pacific region, markets showed mixed performances on Tuesday morning. Japan's Nikkei 225 fell by 0.30 percent, while the broader Topix index saw a slight decrease of 0.05 percent. South Korea's Kospi inched up by 0.12 percent, and the small-cap Kosdaq increased by 0.35 percent. Australia's S&P/ASX 200 rose by 0.15 percent. Additionally, futures for Hong Kong's Hang Seng index were trading 0.40 percent higher, at 18,902 points.

Timken India: Timken Singapore plans to sell a 6.6 percent stake in Timken India, which amounts to approximately Rs 1,775 crore ($213 million). The shares are being offered at a discounted floor price of Rs 3,550 per share. This isn't the first time the promoters have considered a stake sale; a previous sale took place on 20 June last year.

LIC: Life Insurance Corporation of India managed to achieve a 12 percent increase in annual profit, despite selling fewer policies this fiscal year. The company attributes its net profit of Rs 40,676 crore in FY24 to higher income from renewal premiums, improved income from investment activities, and a slight increase in the value of new business (VNB).

NMDC: National Mineral Development Corporation (NMDC) reported a 37.8 percent year-over-year decline in consolidated net profit for the March quarter due to increased expenses, interest, and penal charges. The company’s consolidated revenue increased by 10.9 percent.

Inox Wind: The company’s promoter entity IWEL might sell up to 5 percent stake in the company through block deal soon.

SpiceJet: The Delhi High Court has granted SpiceJet an additional three weeks to return two Boeing aircraft, three engines, and technical records to its lessor, TWC Aviation Capital Ltd. The airline now has until 17 June to return these assets.

Dish TV India: The company's net loss increased to Rs 1,989.7 crore from Rs 1,720.6 crore the previous year. Revenue decreased by 19.4 percent to Rs 407 crore from Rs 504.8 crore. Additionally, the company reported an exceptional loss of Rs 402.7 crore.

Goodyear India: The company's revenue was reported at Rs 550.53 crore, which is a 15.64 percent decrease from the previous year. The company incurred a quarterly net loss of 4.21 crore, marking a decrease of 112.53 percent from the previous year. The EBITDA stood at 9.06 crore, down 85.05 percent from the previous year.

Cochin Shipyard: The company has received another international order from North Star Shipping for the construction of a hybrid Service Operation Vessel (SOV). The vessel will be used at the Scottish Power Renewables East Anglia THREE offshore wind farm, situated off the Suffolk coast.

Tata Motors: Jaguar Land Rover, which is owned by Tata Motors, anticipates faster growth than the luxury car segment in the current fiscal year. The company aims to double its business in India over the next three years by focusing on initiatives such as increasing the localization of products and expanding its sales network in the country.

Nalco: Navaratna PSU miner Nalco recorded a net profit of Rs 996.70 crore in Q4FY24, doubling its profit from the previous year. Despite a slight 2.5 percent YoY decrease in revenue, the company’s margin remained strong at 30.9 percent.

Concord Biotech: The company is set to undergo a block trade of 3.4 percent equity as shareholder Ontario Inc plans to sell shares worth Rs 468.40 crore.

AstraZeneca India: The company recorded a standalone net profit of Rs 39.47 crore for the March quarter of FY24, marking a 128 percent increase from the previous year.

Adani Energy Solutions: The company announced that its board has approved a fundraise of up to Rs 12,500 crore through Qualified Institutional Placement (QIP) or another permissible mode.

TVS Supply Chain Solutions: The company improved its financial performance with a net profit of Rs 5.4 crore, a significant turnaround from the previous year's loss of Rs 12.4 crore. Revenue also saw a 4.5 percent increase to Rs 2,426.3 crore from Rs 2,321.6 crore.

Housing & Urban Development Corporation: HUDCO reported a revenue of Rs 2,065.22 crore, marking an 11.49 percent increase from the previous year. The company also posted a quarterly net profit of 700.16 crore, indicating a 9.55 percent rise from the previous year. Additionally, EBITDA stood at 2,185.90 crore, reflecting an 8.36 percent increase from the previous year.

Kirloskar Industries: The company reported a revenue of Rs 1,728.60 crore, which is a 9.77 percent increase from the previous year. Additionally, the company posted a quarterly net profit of 62.46 crore, marking a 42.38 percent increase from the previous year. The EBITDA was reported at 248.09 crore, showing a 3.63 percent increase from the previous year.

Borosil Renewables: The company recorded a net loss of Rs 53.3 crore, a significant decrease from the previous year's profit of Rs 10.5 crore. Additionally, revenue dropped by 8.4 percent to Rs 283.1 crore from Rs 309 crore.

Automotive Axles: The company's profit declined by 13.2 percent to Rs 44.1 crore from Rs 50.8 crore the previous year, while revenue fell by 17.5 percent to Rs 571.5 crore from Rs 693 crore. The board recommended a final dividend of Rs 32 per share.

S H Kelkar and Company: The company's profit surged 30-fold to Rs 33.4 crore from Rs 1.13 crore the previous year, while revenue grew by 12.8 percent to Rs 533 crore from Rs 472.4 crore.

Jubilant Industries: The company's profit soared by 128 percent to Rs 22.2 crore from Rs 9.7 crore the previous year, but revenue decreased by 12.5 percent to Rs 300.3 crore from Rs 343.4 crore. In addition, the company recorded exceptional gains of Rs 13.13 crore.

Vishnu Prakash R Punglia: The company reported a significant 44.38 percent year-over-year increase in revenue, reaching Rs 657.21 crore in March 2024. The quarterly net profit surged by 74.73 percent to Rs 67.13 crore, while EBITDA increased by 68.4 percent to Rs 108.38 crore.

Oriental Aromatics: The company experienced a 10.82 percent year-on-year increase in revenue, reaching Rs 216.48 crore in March 2024. The quarterly net profit surged by 633.74 percent to Rs 10.20 crore, and EBITDA rose by 125.91 percent to Rs 22.84 crore.

Sumitomo Chemical India: The company's revenue saw a 1.96 percent year-over-year increase to Rs 664.37 crore in March 2024. The quarterly net profit surged by 50.79 percent to Rs 109.28 crore, and EBITDA also increased by 70.26 percent to Rs 165.82 crore.

Dhoot Industrial Finance: The company experienced a 113.22 percent year-over-year increase in revenue, reaching Rs 19.95 crore in March 2024. The quarterly net profit surged by 388.44 percent to Rs 34.27 crore, and EBITDA grew by 1283.79 percent to Rs 40.13 crore.

Vardhman Polytex: The company's revenue decreased by 54.83 percent YoY to Rs 73.69 crore in March 2024. However, the quarterly net profit increased by 111.99 percent to Rs 0.95 crore, and EBITDA rose by 127.77 percent to Rs 3.56 crore.

Nandan Denim: The company experienced a 26.68 percent year-over-year increase in revenue, reaching Rs 579.12 crore in March 2024. The quarterly net profit surged by 793.51 percent to Rs 27.11 crore, and EBITDA rose by 121.81 percent to Rs 64.79 crore.

Sri Chakra Cements: Revenue of Rs 52.88 crore decreased by 16.29 percent year-on-year. The quarterly net loss was 13.94 crore, a 35.68 percent decrease from March 2023. EBITDA is negative at 10.48 crore, down 679.01 percent from March 2023.

Elgi Equipments: The company reported a revenue of Rs 539.93 crore, which is an 18.39 percent increase from the previous year. Additionally, the company posted a quarterly net profit of 92.58 crore, marking a 14.82 percent increase from the previous year. The EBITDA was 133.85 crore, up 14.21 percent from the previous year.

Electronics Mart India: The company reported a revenue of Rs 1,524.23 crore, which is a 14.79 percent increase from the previous year. The company also posted a quarterly net profit of 40.55 crore, marking a 12.29 percent increase from the previous year. Additionally, the EBITDA was 110.59 crore, up 14.74 percent from the previous year.

Anjani Portland Cement: The company reported a revenue of Rs 157.88 crore, which is an 18.75 percent increase from the previous year. The company also posted a quarterly net loss of 4.39 crore, marking a decrease of 73.79 percent from the previous year. Additionally, the EBITDA was 10.25 crore, showing a significant increase of 268.71 percent from the previous year.

HBL Power Systems: The company reported a revenue of Rs 610.09 crore, which is a 51.53 percent increase from the previous year. The company also posted a quarterly net profit of 81.45 crore, marking a significant increase of 134.03 percent from the previous year. Additionally, the EBITDA was 138.04 crore, showing an impressive growth of 176.91 percent from the previous year.

Lumax Auto Technologies: Revenue amounts to Rs 354.37 crore, marking a 16.86 percent increase year-on-year. Quarterly net profit reaches 40.60 crore, showing a 210.81 percent rise from March 2023. EBITDA is at 63.02 crore, up 91.96 percent from March 2023.

West Coast Paper Mills: Revenue is Rs 700.58 crore, down 8.63 percent YoY. Quarterly net profit is 82.46 crore, down 50.33 percent from March 2023. EBITDA is at 148.32 crore, down 45.51 percent from March 2023.

Diamond Power Infrastructure: The company reported a revenue of Rs 134.41 crore, which is an increase of 852.77 percent from the previous year. Additionally, the company posted a quarterly net profit of 14.42 crore, marking a 205.82 percent increase from the previous year. The EBITDA was reported at 18.56 crore, up 403.76 percent from the previous year. In addition, the company’s promoters Monarch Infraparks and GSEC will be selling 12.86 lakh equity shares, or a 2.44 percent stake each, in Diamond Power Infrastructure via an offer-for-sale on May 28-29.

Krystal Integrated Services: The company reported a revenue of Rs 273.68 crore, which is a 47.18 percent increase from the previous year. The company also posted a quarterly net profit of 14.83 crore, showing a 62.11 percent increase from the previous year. Additionally, the EBITDA was 19.84 crore, up by 73.88 percent from the previous year.

Ruchira Papers: The company's revenue was reported at Rs 160.02 crore, reflecting a decrease of 11.44 percent from the previous year. The quarterly net profit was 9.64 crore, down by 48.87 percent from the previous year. EBITDA stood at 16.38 crore, marking a reduction of 45.47 percent from the previous year.

Stylam Industries: The company reported a revenue of Rs 239.88 crore, which is a 1.29 percent increase from the previous year. Additionally, the company posted a quarterly net profit of 37.56 crore, marking a significant increase of 40.22 percent from the previous year. EBITDA was reported to be 48.99 crore, showing a notable 18.85 percent increase from the previous year.

Panama Petrochem: The company reported a revenue of Rs 499.48 crore, which is a 32.9 percent increase from the previous year. The company also posted a quarterly net profit of 36.89 crore, marking a 7.43 percent increase from the previous year. Additionally, the EBITDA was 56.27 crore, up by 9.69 percent from the previous year.