Top 10 stocks for today – 30th April 2024

30 Apr 2024 , 08:38 AM

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

Rail Vikas Nigam: According to the business, the joint venture KRDCL-RVNL has got a Letter of Acceptance (LoA) from Southern Railway to redevelop Thiruvananthapuram Central Railway Station in the engineering, procurement, and construction (EPC) manner. The project costs ₹438.96 Crore, of which RVNL owns 49%.

NMDC: The state-owned iron ore business has raised the lump ore price by ₹400, to ₹6,200 per tonne. The price of fines increased by ₹200 per tonne, to ₹5,260. The previous price for lump ore was ₹5,800 per tonne, while fines were ₹5,060 per tonne.

Tata Chemicals: The Tata Group company reported a net loss of ₹850 Crore for the January-March FY24 quarter, compared to a profit of ₹709 Crore in the previous year. The business has recognised a non-cash write-down of ₹963 Crore in assets related to the UK (Lostock Plant), which has been recorded as an unusual loss. Revenue from operations declined 21.1% year on year to ₹3,475 Crore in the quarter.

UCO Bank: The lender’s net profit for the quarter ended March FY24 was ₹525.8 Crore, down 9.5% from the previous year, owing to higher provisions for bad loans and lower pre-provision operational profit. Net interest income rose 10.9% year on year to ₹2,187.4 Crore in the quarter. Asset quality improved in the quarter, with gross NPA lowering 39 basis points QoQ to 3.46% and net NPA falling 9 basis points to 0.89%.

Poonawalla Fincorp: The non-banking financial company posted a standalone net profit of ₹331.7 Crore for the March FY24 quarter, up 83.6% from the same time in the previous year. Net interest income increased by 57% year on year to ₹641 Crore during the quarter. Asset quality improved throughout the quarter, with gross NPA falling 17 basis points quarter on quarter to 1.16% and net NPA falling 11 basis points sequentially to 0.59%.

Jana Small Finance Bank: The small finance bank’s net profit for the quarter ended March FY24 was ₹321.7 Crore, up nearly fourfold from ₹81 Crore the previous year, primarily to tax write-backs and lesser provisions. Net interest income increased by 26.5% year on year to ₹591 Crore during the quarter.

RITES: Bangladesh Railway has accepted the company’s offer to supply 200 Broad Gauge (BG) passenger carriages. The contract for $111.26 million will be completed within 36 months.

KFin Technologies: The technology-driven financial services firm posted a consolidated net profit of ₹74.5 Crore for the March FY24 quarter, up 30.6% from the same time in the previous year. Revenue from operations for the quarter was ₹228.3 Crore, up 24.7% year on year. The board has recommended a final dividend of ₹5.75 per share for fiscal year 24.

Birlasoft: The software company reported a consolidated net profit of ₹180 Crore for the quarter ended March FY24, up 60.5% from the same time the previous fiscal year, owing to strong operating results. Revenue from operations increased by 11.1% year on year to ₹1,362.6 Crore in the quarter. The board has recommended a final dividend of ₹4 per share for Fiscal Year 24.

Shoppers Stop: The department store chain’s consolidated net profit increased by 62.55% year on year to ₹23.2 Crore in the March FY24 quarter, boosted in part by a strong topline and other income. Revenue from operations climbed by 13.3% year on year to ₹1,046.3 Crore in the quarter. Meanwhile, the board promoted and nominated Kavindra Mishra as the company’s MD and CEO.