Stock Market Today: The GIFT Nifty on the NSE IX increased by 15.50 points and reached to 22,400. It means that Dalal Street will likely have a quiet start to the week. Following a rebound in international markets and a decrease in worries over growing tensions in the Middle East( Iran- Israel conflict), Indian stocks finished the day higher on Monday. With a closing value of 73,648 points, the S&P BSE Sensex ended 0.77% higher. On the other hand, the NSE Nifty50 index closed above 22,300. However Crompton, JG Chemical, EIH, Escorts, and SBI are the five stocks that are advised for today. A plethora of companies, including 360 One Wam, M&M Finance, Tata Consumer, Tata Elxsi and few others will be releasing their fourth quarter results today.
Stock Market Today: Stocks in focus
Mahindra Logistics
Mahindra Logistics declared a Q4FY24 net loss of Rs. 11.9 crore as opposed to a Q4FY23 net profit of Rs. 0.20 crore. From Rs. 1,272.5 crore during the same time of the previous fiscal year to Rs. 1,450.8 crore, the company’s operational revenue increased by 14%. Nonetheless, EBITDA declined by 11.1% to Rs 56.6 crore during the quarter as compared to Rs 63.7 crore during the same time in the prior fiscal year.
HDFC Bank
Mitsubishi UFJ Financial Group Inc. may raise its offer to acquire a minority stake in the consumer lending business of HDFC Bank Ltd. in India, from $1.7 billion to $1.7 billion. According to people with direct knowledge of the situation, the deal’s success may hinge on the valuation and the Japanese bank’s participation in strategic choices. These unidentified sources claim that both parties hope to finalise an agreement in about a month.
Tata Consumer Products
The company is scheduled to release its Q4FY24 and full year financial results. Experts forecast that its revenue growth will outpace that of its competitors in the market, supported by sales of beverages, rising salt volumes, and the purchase of Capital Foods, which owns the Ching’s Secret brand. Analysts predict that Tata Consumer’s revenue would increase by 4.8% year over year to Rs 3,989 crore. At Rs 329 crore, the bottom line growth is anticipated to increase by about 13.4% year over year. With the help of stable salt prices and modest tea costs, the EBITDA margin is expected to increase by 100 basis points year over year.
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