Top 10 stocks for today – 24th April 2024

24 Apr 2024 , 08:10 AM

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

Tata Consumer Products: The FMCG company’s consolidated net profit for the quarter ended March FY24 was ₹268 Crore, a 23% decrease from the same period previous year, despite excellent operating statistics and topline, which were impacted by an unusual loss of ₹216 Crore. Revenue from operations increased by 9% year on year to ₹3,927 Crore in the quarter. EBITDA climbed 22% year on year to ₹631 Crore, with a margin rise of 180 basis points to 16.1% for the quarter.

NHPC: The state-owned business has signed a supplementary joint venture agreement with JV partners to sell a portion of its ownership in the National High Power Test Laboratory (NHPTL). The joint venture partners include NHPC, NTPC, Power Grid Corporation of India, DVC, CPRI, and NHPTL. NHPC owns a 20% stake in NHPTL.

Dr Reddy’s Laboratories: The pharmaceutical business voluntarily recalled six lots of Sapropterin Dihydrochloride powder for oral solution 100 mg due to powder discolouration in some packets, which resulted in lower potency. The problem was detected during an expedited stability test, as well as customer concerns.

Vodafone Idea: The Capital Raising Committee of Vodafone has allotted 1,636.36 Crore equity shares worth ₹18,000 Crore at an offer price of ₹11 per equity share. The follow-on public offer (FPO) was open from April 18 to 22. Following the allotment of equity shares through FPO, the company’s paid-up equity share capital increased from ₹50,119.82 Crore to ₹66,483.45 Crore.

Lupin: The United States Food and Drug Administration (US FDA) has issued an establishment inspection report for the company’s Aurangabad manufacturing plant. The US FDA decided that the facility’s inspection categorization is voluntary action indicated (VAI). The facility was inspected from March 6 to March 15, 2024.

Bandhan Bank: Societe Generale, a European financial services business, has purchased 1,21,16,098 equity shares (equal to 0.75% of paid-up stock) in the lender at an average price of ₹180.8 per share, totaling ₹219.06 Crore. However, the UK-based hedge fund Marshall Wace Investment Strategies – Eureka Fund sold 1,17,48,919 equity shares in the bank for the same price, totaling ₹212.42 Crore.

Multi Commodity Exchange of India: The commodity exchange posted a net profit of ₹87.87 Crore for the March FY24 quarter, up considerably from ₹5.45 Crore in the same period last fiscal. Revenue from operations increased by 35.4% year on year to ₹181.1 Crore during the quarter. The board has recommended a final dividend of ₹7.64 per equity share for fiscal year 24.

Bank of Baroda: Societe Generale has purchased 3,26,38,297 equity shares of the bank at an average price of ₹261.3 per share in open market transactions, totaling ₹852.8 Crore. However, Marshall Wace Investment Strategies – Eureka Fund sold 3,16,25,157 equity shares for an average price of ₹261.3 per share, totaling ₹826.36 Crore.

Manappuram Finance: Societe Generale has acquired 73,58,579 equity shares in the gold loan finance company at an average price of ₹191 per share, totaling ₹140.55 Crore. However, Marshall Wace Investment Strategies – Eureka Fund sold 71,30,120 equity shares of the business at the same price, totaling ₹136.18 Crore.

ICICI Prudential Life Insurance: The life insurance company’s earnings after tax for the March FY24 quarter was ₹174 Crore, a 26% decrease from the same time in the previous year. The value of new business (VNB) fell 26.4% year on year to ₹776 Crore during the quarter, while the VNB margin fell 1,050 basis points to 21.5%. New business received premiums, which increased by 16.3% year on year to ₹6,553 Crore for the quarter.

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