Top 10 stocks for today – 14th May 2024

14 May 2024 , 09:06 AM

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

Shriram Finance: The business said that its board members have authorised the sale of its housing finance subsidiary Shriram Housing Finance (SHFL) to global investor Warburg Pincus for ₹4,630 Crore. Warburg Pincus will purchase the interest from all sellers through its affiliate Mango Crest Investment. Shriram Finance owns a majority share in SHFL, with the remainder owned by Mauritius-based private equity firm Valiant Partners LP.

DLF: The real estate major’s consolidated net profit increased by 61.5% year on year to ₹920.7 Crore in the March quarter of FY24, driven by excellent topline and operating performance. Revenue from operations increased 46.6% year on year to ₹2,135 Crore in the quarter. On the operations front, EBITDA climbed 89.3% year on year to ₹754 Crore in the quarter, with a margin expansion of 790 basis points to 35.3%.

Jindal Steel & Power: The company posted a combined net profit of ₹933.5 Crore for the March FY24 quarter, up 100.5% from the same time the previous year, buoyed by a reduced topline and an operating margin bolstered by lower input costs. The Q4FY23 profit was impacted by an unusual loss of ₹153.5 Crore. Revenue from operations fell 1.5% year on year to ₹13,487 Crore in the quarter, with sales volume down to 2.01 million tonnes from 2.03 million tonnes in the same period.

Vedanta: The mining business stated that on May 16, the board of directors will explore raising funds through the issuance of equity shares or other securities convertible into equity shares.

Sanofi India: The pharmaceutical firm reported a solo net profit of ₹136.6 Crore for the first quarter of calendar year 2024, a 28.3% decrease from the previous year’s period, owing to an extraordinary loss of ₹26.7 Crore (compared to an exceptional gain of ₹17.8 Crore in Q12023) and lower topline. Revenue from operations declined 0.55% year on year to ₹732.4 Crore in the quarter.

Cochin Shipyard: The company has received a major order (in the range of ₹500-1,000 Crore) from a European client for the design and construction of a hybrid service operation vessel (Hybrid SOV), with the option for two more. The yacht is outfitted with hybrid battery technologies to increase energy efficiency and lower carbon footprints. The project is scheduled to be finished by the end of 2026.

Rail Vikas Nigam: The business has received a Letter of Acceptance from Southern Railway for the installation of an automatic block signalling system from Jolarpettai junction to Erode junction in the Salem division. The order for ₹239.1 Crore is expected to be completed within 12 months.

Hero MotoCorp: The world’s largest scooter and motorbike maker has joined the ONDC Network, making it the country’s first automotive company to do so. The open network will first provide two-wheeler parts, accessories, and products.

JBM Auto: The automotive components manufacturer reported a combined net profit of ₹55.75 Crore for the January-March FY24 quarter, up 99% from the same period in the previous fiscal year, with good topline and operating results. Revenue from operations increased by 47.11% year on year to ₹1,486 Crore in the quarter, while EBITDA increased by 60.4% to ₹172.3 Crore, with a margin expansion of 100 basis points to 11.6%.

Welspun Corp: Priyaranjan Kumar has resigned from the role of Chief Human Resource Officer of the company due to personal reasons, effective July 30, 2024. Bindu Nambiar has been appointed as Head of HR, effective May 13.

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