Top 10 stocks for today – 13th May 2024

13 May 2024 , 09:01 AM

Here are some of the stocks that may see significant price movement today.

Tata Motors: The passenger and commercial vehicle maker reported a combined net profit of ₹17,407 Crore for the quarter ended March FY24, up 222% from the previous fiscally driven tax credit of ₹8,159 Crore and good operating performance. Revenue from operations increased by 13.3% year on year to ₹1,19,986 Crore in the quarter. Jaguar Land Rover reported a 10.7% year-on-year increase in revenue to 7,860 million pounds and a 150-bps increase in EBITDA margin for the quarter.

Eicher Motors: The automobile firm posted a standalone net profit of ₹983.3 Crore for the March FY24 quarter, a 32% increase over the same time in the previous fiscal year, boosted by solid operating results. Revenue from operations increased by 9.4% year on year to ₹4,192 Crore in the quarter.

ICICI Bank: Bijith Bhaskar has quit as Head of Cards, Payment Solutions, E-Commerce Ecosystem, Merchant Ecosystem, and Consumer Finance at the bank. He was part of the high-management staff group. He will no longer be a member of the bank’s senior management team from May 18.

Union Bank of India: The public sector lender’s net profit increased by 19% year on year to ₹3,311 Crore in the fourth quarter of fiscal year 2024, despite a 20% year-on-year drop in provisions. Net interest income increased by 14.4% year on year to ₹9,437 Crore in the quarter. Asset quality improved, with gross NPA down 7 basis points QoQ to 4.76% and net NPA down 5 basis points to 1.03% for the quarter.

Zydus Lifesciences: The pharmaceutical company has gained final USFDA approval to market Dexamethasone tablets in the United States. Dexamethasone is used to treat a variety of ailments, including arthritis, blood/hormone issues, allergic reactions, skin diseases, eye and lung problems, digestive disorders, cancer, and immune system dysfunction.

Wipro: Vinay Firake has been appointed Chief Executive Officer of the APMEA (Asia Pacific, India, Middle East, and Africa) strategic market unit (SMU), effective May 11. Vinay will report to Srini Pallia and join the Wipro executive board. Anis Chenchah has resigned as President of APMEA to pursue opportunities outside of the institution.

JSW Steel: The company recorded a consolidated crude steel output of 21.21 lakh metric tonnes in April 2024, up 0.4% year on year, as iron ore availability issues from Karnataka mines at Vijayanagar hampered production volumes. Capacity utilisation at Indian operations was 88% for the month.

Bank of India: The public sector lender reported a net profit of ₹1,438.9 Crore for the March FY24 quarter, up 6.55% from the same time the previous year, supported by fewer provisions. Net interest income increased 7.5% year on year to ₹5,936 Crore in the quarter, but operating profit declined 15%, and non-interest revenue (other income) fell 43.5%. Asset quality has improved, with gross NPA in Q4 FY24 decreasing 37 basis points QoQ to 4.98% and net NPA down 19 basis points to 1.22% from the previous quarter.

HUDCO: The business has signed a Memorandum of Understanding (MoU) with Surat Integrated Transportation Development Corporation (SITCO) to build and develop the Surat Multi-Modal Transportation Hub (SMMTH). SITCO is a collaborative venture between the Ministry of Railways’ Rail Land Development Authority, the Government of Gujarat’s GSRTC, and the Surat Municipal Corporation.

Piramal Pharma: The pharmaceuticals company posted a net profit of ₹101 Crore for the quarter ended March FY24, a 102% increase over the same time in the previous fiscal year, with strong operating results. Revenue increased by 18% year on year to ₹2,552 Crore in the quarter, led by strong growth in the CDMO and ICH businesses.

For feedback and suggestions, write to us at [e-mail]