Top 10 stocks for today – 22nd May 2024

22 May 2024 , 08:03 AM

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

Apollo Tyres: On Wednesday (May 22), the tyre company may witness block bids for up to 3.5% equity. According to the offer book, White Iris Investment Ptd Ltd, a unit of global private equity company Warburg Pincus, is expected to sell its entire 3.54% interest.

BHEL: The state-owned corporation recorded a 25.6% year-on-year fall in net profit to ₹489.6 crore in the fourth quarter. In the previous corresponding quarter, it reported a net profit of ₹658 crore. Revenue climbed by 0.4% to ₹8,260.3 crore, up from ₹8,227 crore in the previous fiscal period. The board has announced a final dividend of 12.50%, or 25 paise per share having a face value of ₹2 each.

PI Industries: Agro-chemicals manufacturer reported a 31.7% year-on-year increase in net profit to ₹369.5 crore for the fourth quarter. In the same quarter, it reported a net profit of ₹280.6 crore. The company’s revenue climbed by 11.2% to ₹1,741 crore from ₹1,565.6 crore in the previous fiscal year.

United Spirits: The company received a notice to pay ₹345.45 crore in water fee arrears from the Water Resources Department in Maharashtra. The notice was issued by the Water Resources Department (Jalsampada Vibhag), Irrigation Division of Nanded (North), Maharashtra.

JK Tyre: The company reported a 54% increase in consolidated net profit to ₹172 crore for the fourth quarter. The tyre producer posted a net profit of ₹112 crore in the same period last year. In the fourth quarter, total income was ₹3,714 crore, up from ₹3,645 crore in the previous corresponding period. The tyre company declared a net profit of ₹811 Crore for the fiscal year ending March 31, 2024, up three times from ₹265 Crore in FY23.

Hitachi Energy: The company reported a 123.82% year-on-year increase in net profit of ₹113.7 crore for Q4. In the same quarter, it had a net profit of ₹50.8 crore. Revenue climbed by 27.1% to ₹1,695.3 crore, up from ₹1,334 crore in the previous fiscal period.

Ircon International: The state-run construction company recorded a 3.8% year-on-year fall in net profit at ₹246.8 crore for Q4. In the same quarter, it logged a net profit of ₹256.5 crore. The company’s sales decreased by 1% to ₹3,742.7 crore from ₹3,780.7 crore in the same period last year.

GSFCL: The company’s consolidated net profit dropped by 89% to ₹24.43 crore in the fourth quarter. The company’s net profit was ₹224.91 crore for the same quarter. In the January-March quarter of 2023-24, overall income declined 16.34% to ₹2,017.46 crore from ₹2,411.56 crore in the previous year.

Tata Power: Tata Power Delhi Distribution said on Tuesday that it has entered into an initial agreement with the India Smart Grid Forum for the ‘Vehicle-to-Grid Technology Demonstration Project’. According to Tata Power Delhi Distribution Ltd (Tata Power-DDL), which provides electricity to 7 million people in north Delhi, the goal of this project is to minimise carbon emissions in the transportation and energy sectors.

Gulf Oil: Lubes maker recorded a 38.74% year-on-year increase in net profit to ₹86.2 crore in the fourth quarter. In the same quarter, it had a net profit of ₹62.2 crore. The company’s revenue climbed by 9.8% to ₹869.6 crore from ₹792 crore in the previous fiscal year.

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