Stocks Watch List: Shriram Finance, Airtel, Vedanta, Sanofi India, DLF, Zomato

The Indian stock markets may see a positive opening today, following mixed global cues. However, the selling activity of foreign institutional investors (FIIs) will remain a major focus. On May 13, FIIs sold equities worth Rs 4,498.92 crore, while domestic institutional investors (DIIs) purchased stocks worth Rs 3,562.75 crore. As of 7:26 AM, the GIFT Nifty futures indicated a 47-point rise at 22,248 levels as compared to the Nifty50 futures.

Shriram Finance: Warburg Pincus, a US-based private equity firm, has acquired a majority stake in Shriram Housing Finance Ltd (SHFL) for a whopping Rs 4,630 crore. This deal marks Warburg Pincus's largest acquisition in India and was made through its affiliate, Mango Crest Investment Ltd, from Shriram Finance Ltd (SFL) and other sellers. The deal is expected to be completed by February 7, 2025.

Bharti Airtel: Analyst estimates suggest that the telecom company is expected to report a consolidated net profit of Rs 2,201 crore for Q4FY24, which is a 26.8 percent YoY decrease. The company's revenue is anticipated to increase by 7.9 percent YoY to Rs 38,736 crore in Q4FY24. Operating profit margins are expected to rise by 549 basis points to 31 percent YoY. Moreover, operating profit margins are predicted to increase by 57 basis points YoY to 52.4 percent in the January-to-March quarter. Finally, the company's subscriber base is also expected to grow by three million, reaching 349 million in Q4FY24.

Vedanta: The company is planning to raise funds through various methods such as equity shares, further public offer (FPO), rights issue, etc. A decision is expected in the upcoming board meeting scheduled for May 16.

Sanofi India: The pharmaceutical company's Q1FY24 standalone net profit was Rs 136.6 crore, a 28 percent decrease from the same quarter in the previous year. The company's revenue for the quarter was Rs 732.4 crore, a 0.5 percent decrease from the year-ago quarter.

DLF: The real estate company has reported a 62 percent increase in its consolidated net profit, amounting to Rs 920.71 crore in Q4FY24, primarily due to higher income and strong housing sales. In addition, the company has announced a dividend of Rs 5 per equity share, which represents 250 percent of the face value of Rs 2 each for FY24. Furthermore, the company has appointed Ashok Kumar Tyagi as the managing director, effective from 29 February 2024, following the resignation of Vivek Anand.

Zomato: Zomato, the Indian food delivery company, recently announced its expansion plans for its quick-commerce venture, Blinkit. The company aims to add 100 dark stores to its existing 526 warehouses by June and targets a total of 1,000 warehouses by the end of the fiscal year. Blinkit, which turned operationally profitable in March, reported a twofold increase in both revenue and gross order value in Q4. Zomato added 75 Blinkit stores from January to March, bringing the total warehouse count to 526. In the March quarter, Zomato reported a profit of Rs 175 crore, a significant improvement from a loss of Rs 188 crore in the same period the previous year. The company's operational revenue also increased from Rs 2,058 crore to Rs 3,582 crore. For the full financial year 2023-24, Zomato recorded a profit of Rs 351 crore, compared to a loss of Rs 971 crore in the preceding year.

INOX India: The company's net profit in Q4FY24 increased by 44 percent YoY to Rs 44 crore, while revenue increased by 17 percent YoY from Rs 235 crore to Rs 276 crore. However, there was a 9 percent decline in net profit compared to the previous quarter, dropping from Rs 48.5 crore. Additionally, revenue from operations also experienced a 4 percent decline from Rs 290 crore in the December 2023 quarter.

ICICI Securities: The National Company Law Tribunal (NCLT) has postponed the ICICI Securities case in which non-institutional minority shareholders challenged its delisting and merger with ICICI Bank. The case is now expected to be taken up in July.

Jindal Steel and Power: JSPL has reported a significant YoY jump of 100.21 percent in its net profit for the fourth quarter that ended on 31 March, 2024, amounting to Rs 933.5 crore. However, the company's revenue from operations decreased by 1.5 percent to Rs 13,487 crore compared to Rs 13,692 crore in the corresponding period of the preceding fiscal.

Piramal Pharma: The company plans to invest more than Rs 700 crores ($85 million) in brownfield expansion through FY25, primarily in the contract development and manufacturing organization (CDMO) segment, aiming to grow organically.

Infosys: The Canadian government has fined IT services company Infosys over Rs 82 lakh for allegedly underpaying employee health tax for the year ending December 31, 2020.

JBM Auto: The auto parts manufacturer has reported a consolidated net profit of Rs 55.75 crore for the first quarter of the fiscal year 2024. This marks a 99 percent year-on-year increase. The operational revenue also increased by 47.11 percent YoY, reaching Rs 1,486 crore. Additionally, EBITDA rose by 60.4 percent YoY, expanding the margin by 100 bps to 11.6 percent, resulting in a strong financial performance by the company.

TCS: Tata Consultancy Services (TCS) has recently revealed that it will establish a Global Artificial Intelligence (AI) Center of Excellence in Paris. The new AI center will be situated in TCS PacePort, which is currently under construction in Paris. The center will concentrate on various areas such as brain-computer interface, creating empathy in machines, and making use of AI in arts and culture.

Chalet Hotels: The hotel chain has reported a consolidated net profit of Rs 82.4 crore for Q1FY24, which represents a significant 125 percent YoY increase. Revenue from operations has also increased by 23.8 percent YoY to Rs 418.3 crore. The current CFO, Milind Wadekar, will step down on June 30 but will continue to serve as a senior management member until September 30. He will then assume a higher role within the K Raheja Corp Group from October 1. Nitin Khanna will take over as CFO from July 1.

Cochin Shipyard: The European client has placed an order worth Rs 1,000 crore for constructing vessels. The vessels will be equipped with hybrid battery systems to enhance energy efficiency and reduce carbon footprint.

Coromandel International: The company's wholly-owned subsidiary, Coromandel Technology Limited (CTL), announced that it is acquiring an additional 7 percent stake in Dhaksha Unmanned Systems, a Chennai-based drone manufacturing company.

BLS E-Services: The company's Q1FY24 consolidated net profit decreased by 58.55 percent YoY due to a high base, while their revenue from operations increased by 1.3 percent YoY to Rs 73.6 crore.

Hero MotoCorp: The auto company has become the first in the country to join the ONDC network, which will initially offer two-wheeler parts, accessories, and merchandise.

RVNL: Rail Vikas Nigam has been awarded a contract worth Rs 239 crores by Southern Railway to provide an automatic block signaling system between Jolarpettai and Erode junctions in the Salem division.