Top 10 stocks for today – 30th May 2024

30 May 2024 , 08:19 AM

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

Tata Steel: The company recorded a 64.59% decrease in net profit to ₹554.56 Crore for the January-March quarter of 2023-24. In the previous year, the steel firm reported a profit of ₹1,566.24 Crore. In the quarter, total income was ₹58,863.22 Crore, down from ₹63,131.08 Crore in January-March FY23.

RR Kabel: TPG Asia, a US-based private equity group, is expected to sell its whole 5% investment in wire and cable producers in block transactions. The transaction entails dumping about 56 lakh shares at approximately ₹1,718 per share, totaling around ₹1,000 Crore.

Kfin Technologies: General Atlantic Singapore Fund is expected to sell a 4.1% investment in a tech-driven financial services company, with the option to grow it to 6.8%. The issuance size starts at ₹500 Crore and can be increased to ₹833.3 Crore. The shares would be sold at a floor price of ₹712.5 per, representing a 4.2% discount to the current market price on NSE.

IRB Infrastructure: A block deal has been announced in the toll road company, with seller IRB Holding Private Ltd selling up to 225 million shares. In addition, Deepali Virendra Mhaiskar will offer up to 15 million shares in this transaction. The offer price range is ₹63.0-₹72.7 per equity share.

Cummins: In the fourth quarter, the engine manufacturer’s net profit increased by 76.3% to ₹561.5 Crore from the previous year. In the same quarter, it had a net profit of ₹318.5 Crore. The company’s revenue climbed by 20.3% to ₹2,316.2 Crore from ₹1,926 Crore in the previous fiscal year.

Aditya Birla Capital: The financial services company has invested ₹300 Crore in its subsidiary, Aditya Birla Housing Finance Ltd (ABHFL), via a rights issue. This investment intends to assist ABHFL’s growth and financial requirements while also improving its leverage ratio.

Emami: The FMCG player reported a 3.7% year-on-year growth in net profit at ₹146.8 Crore in the fourth quarter. In the same quarter, it had a net profit of ₹141.6 Crore. The company’s revenue climbed by 6.6% to ₹891.2 Crore from ₹836 Crore in the previous fiscal year.

GMR Airports: The company reported a net loss of ₹167.6 Crore for the fourth quarter ending March 31, 2024. In the same quarter, it reported a net loss of ₹638.9 Crore. The company’s revenue climbed by 29.5% to ₹2,446.8 Crore from ₹1,889.7 Crore in the previous fiscal year.

SJVN: During the March quarter, the state-owned corporation posted a combined profit of ₹61.08 Crore, a more than twofold increase. The previous year’s consolidated net profit was ₹17.21 Crore. The company’s financial statistics indicated exceptional gains of ₹103.84 Crore for the quarter.

Rail Vikas Nigam: The railway corporation has received a Letter of Acceptance from South East Central Railway for a ₹38.10 Crore project to provide auto signalling with electronic interlocking in the Champa-Sakti stretch of the Bilaspur division.

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