Top 10 stocks for today – 9th May 2024

9 May 2024 , 08:42 AM

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

Larsen & Toubro: The infrastructure major’s net profit for the quarter ended March FY24 was ₹4,396 Crore, up 10% from the previous year, with a robust topline, but the operating margin remained low. Revenue from operations climbed by 15% year on year to ₹67,079 Crore in the quarter. The board recommended a final dividend of ₹28 per share.

Tata Power Company: The Tata Group company reported a consolidated net profit of ₹895.2 Crore for the March FY24 quarter, up 15.1% from the same time the previous fiscal year, despite a lower operating margin due to fuel costs. Revenue from operations increased 27.2% year on year to ₹15,846.6 Crore for the quarter.

TVS Motor Company: The two- and three-wheeler manufacturer reported a standalone net profit of ₹485.4 Crore for the March FY24 quarter, up 18.3% from the same time the previous fiscal year, with strong topline and operating results. Revenue from operations increased by 23.7% year on year to ₹8,168.8 Crore, with overall sales volume up 22.4% at 10.63 lakh units during the quarter.

HDFC Life Insurance Company: The Insurance Regulatory and Development Authority of India (IRDAI) has approved Keki Mistry’s appointment as chairman of the company’s board. On April 18, this year, the board appointed Keki M. Mistry as chairman.

BSE: The exchange reported consolidated net profit of ₹106.9 Crore for the January-March quarter of FY24, up 20.6% from the same period of the previous fiscal year, owing to excellent topline growth but hit by a provision of ₹169.77 Crore for the SEBI regulatory fee. Revenue from operations increased by 110.4% year on year to ₹544.8 Crore in the quarter. The board has recommended a final dividend of Rs.15 per share.

Wipro: The technology services and consulting firm has established a partnership with Kognitos Inc. to deliver enterprise-grade GenAI-based business automation solutions. In addition, Wipro Ventures, Wipro’s corporate investment arm, participated in Kognitos’ Series A capital round.

Gujarat State Petronet: The natural gas distribution business reported a consolidated net profit of ₹663.1 Crore for the January-March quarter of fiscal year 2024, a 22.2% increase over the previous year, aided by exceptional profits and strong operating results. Revenue from operations climbed by 6% year on year to ₹4,532.2 Crore in the quarter.

Rail Vikas Nigam: The railway business has received a Letter of Acceptance from SER HQ-Electrical/South Eastern Railway for a project costing ₹167.3 Crore. To reach the 3000 MT loading objective, the business will design, supply, install, test, and commission the electric traction system upgrade for the Rajkharsawan-Nayagarh-Bolani section of South Eastern Railway’s Chakradharpur division.

NTPC: Subsidiary NTPC Green Energy has signed a Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology to construct renewable energy power parks and projects.

Piramal Enterprises: The company posted a total net profit of ₹137.1 Crore for the quarter ended March FY24, compared to a loss of ₹195.9 Crore in the same period the previous year. The quarter’s operating revenue climbed by 16% year on year to ₹2,473.3 Crore. Meanwhile, its subsidiary Piramal Alternatives Trust purchased a 9.85% ownership in Annapurna Finance for ₹300 Crore and subscribed to Annapurna Finance’s optionally convertible debentures for ₹300 Crore.

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