Top 10 stocks for today – 7th May 2024

7 May 2024 , 08:27 AM

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

Godrej Consumer Products: Despite good operating results, the FMCG company reported a net loss of ₹1,893.2 Crore for the quarter ended March FY24, which was hit by an extraordinary loss of ₹2,375.65 Crore (compared to an exceptional loss of ₹22.2 Crore the previous year). It made ₹452.1 Crore in profit during the fourth quarter of FY23. Revenue from operations increased by 5.8% year on year to ₹3,385.6 Crore in the quarter, with volume growth of 12% and India business volume growth of 15%.

LTIMindtree: The IT services company has received a tax demand order for ₹155.7 Crore from the Department of Goods and Service Tax, Office of the Deputy Commissioner of State Tax, Mumbai, for the year FY19.

Gujarat Fluorochemicals: The chemical company posted a consolidated net profit of ₹101 Crore for the March FY24 quarter, down 70% from the previous year. The revenue from operations for the quarter was ₹1,133 Crore, a 23% decrease from the same period in the previous year.

Lupin: The global pharmaceutical company reported a consolidated net profit of ₹359.4 Crore for the fourth quarter of fiscal year 2024, up 52.3% from the same period in the previous fiscal, with EBITDA rising 72.5% to ₹997 Crore and margin expanding 700 basis points to 20% during the same period. Revenue from operations climbed by 12% year on year to ₹4,960.8 Crore in the quarter. Meanwhile, the business gained approval from the US Food and Drug Administration (US FDA) for its abbreviated new drug application for Travoprost Ophthalmic Solution USP.

Gujarat Gas: The public gas distribution company’s net profit increased by 86% quarter on quarter to ₹409.5 Crore in the quarter ended March FY24, owing to lower spot gas prices and higher volumes. Revenue from operations (minus excise duty) increased by 5.2% sequentially to ₹4,134.2 Crore in the quarter.

Route Mobile: The cloud communication platform service provider reported a net profit of ₹95.2 Crore for the March FY24 quarter, down 8.5% from the previous year’s period due to lower operating numbers. Revenue from operations increased by 0.8% year on year to ₹1,017 Crore in the fourth quarter of fiscal year 2024. In FY24, earnings climbed by 16.7% to ₹388.8 Crore, while revenue increased by 10% to ₹4,023.3 Crore over the previous year.

Kamdhenu: The TMT bars producer reported a net profit of ₹16.8 Crore for the fourth quarter of fiscal year 2024, up 55.7% from the previous year despite a muted topline, owing to greater other income. Revenue from operations increased by 5.5% year on year to ₹176 Crore in the quarter, with volumes increasing by 11% YoY.

Drone Destination: The drone maker has reached an arrangement with cooperative major IFFCO to spray agricultural products on up to 30 lakh acres of farmland. According to business officials, under the agreement, Drone Destination might be paid between ₹400 and ₹800 per acre at current market pricing, meaning that the sale will generate ₹120 Crore in the lower price band and up to ₹240 Crore in the higher price band.

DCM Shriram: The company recorded a consolidated net profit of ₹117.8 Crore for the quarter ended March FY24, a 36.9% decrease from the same time the previous fiscal, owing to weaker topline and dismal operating statistics. Revenue from operations (minus excise duty) declined 11.8% year on year to ₹2,399.3 Crore in the quarter.

Bigbloc Construction: Shankar Sharma, an ace investor, purchased 3.65 lakh equity shares (equal to 0.5% of paid-up equity) in the autoclaved aerated concrete block maker through open market transactions at an average price of ₹235 per share, totaling ₹8.57 Crore. The company’s March FY24 quarter earnings will be released on May 7.

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