Top 10 stocks for today – 8th May 2024

8 May 2024 , 08:43 AM

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

PB Fintech: The Policybazaar operator reported a profit of ₹60.19 Crore for the quarter ending March FY24, compared to a loss of ₹9.34 Crore in the same period the previous year. During the quarter, revenue jumped 25% year on year to ₹1,090 Crore, while premium increased 43% to ₹5,127 Crore.

JSW Energy: Despite a modest topline, the JSW Group company reported a consolidated net profit of ₹345.3 Crore for the March FY24 quarter, up 22.4% from the same period the previous fiscal year, owing to excellent operating statistics and lower fuel costs. Revenue from operations increased by 3.2% year on year to ₹2,755.9 Crore in the quarter. The board of directors has approved the company’s plan to raise money of up to ₹10,000 Crore via QIP.

Voltas: The Tata Group reported a consolidated net profit of ₹110.6 Crore for the March FY24 quarter, a 22.8% decrease from the previous year’s period due to lower operating numbers and higher input costs. Revenue from operations increased by 42.1% year on year to ₹4,202.9 Crore in the quarter, with robust growth in the unitary cooling products and electro-mechanical projects and services divisions. The board has recommended a dividend of ₹5.50 per share.

IRB Infrastructure Developers: The infrastructure company recorded consolidated net profit of ₹188.9 Crore for the quarter ended March FY24, up 45.1% from the same period the previous fiscal, despite a lower operating margin and increased JV losses, driven by robust topline and other income. Revenue from operations increased by 27.2% year on year to ₹2,061.2 Crore in the quarter.

LTIMindtree: The global technology consulting and digital solutions business has announced a partnership with IBM to develop a worldwide, collaborative Generative AI Centre of Excellence (CoE) in India, integrating the power of IBM’s Watsonx AI and data platform with LTIMindtree’s engineering expertise.

Tata Elxsi: The technology and design services company has partnered with Arm (a multinational semiconductor design and software platform company) to provide innovative solutions based on the newest Arm CPUs. This will help automotive OEMs and Tier 1s accelerate their transition to software-defined vehicles (SDVs).

CreditAccess Grameen: The microfinance company reported a net profit of ₹397 Crore for the March FY24 quarter, up 33.9% from the same period the previous fiscal. Net interest income increased 33.7% year on year to ₹921.9 Crore for the quarter. Asset quality deteriorated, with gross NPA growing 21 basis points QoQ to 1.18% and net NPA increasing 6 basis points to 0.35% for the quarter.

Jindal Saw: The OP Jindal Group company reported a 61.5% year-on-year increase in net profit to ₹480.4 Crore for the fourth quarter of fiscal year 2024, with outstanding operating results. Revenue from operations increased by 4.6% year on year to ₹5,425.2 Crore in the quarter. The board has recommended a dividend of Rs.4 per share.

Sonata Software: The company reported a net profit of ₹110.4 Crore for the March FY24 quarter, compared to a loss of ₹46.2 Crore in the preceding quarter. Other income helped improve profit in Q4 FY24, while the deficit in Q3 FY24 was owing to an unusual loss of ₹174.66 Crore. Revenue from operations declined 12.1% quarter on quarter to ₹2,191.6 Crore.

United Breweries: The beverage company posted a net profit of ₹81.55 Crore for the March FY24 quarter, up more than eightfold from ₹9.87 Crore the previous year, thanks to robust operating results. Revenue from operations increased by 20.8% year on year to ₹2,133.4 Crore in the quarter. The board has recommended a dividend of ₹10 per share and approved Jorn Kersten’s appointment as Chief Financial Officer, effective August 1 this year.

For feedback and suggestions, write to us at [e-mail]