Stocks To Watch: PB Fintech, HPCL, Godrej Consumer, LTIMindtree, Lupin, and Others

Stocks To Watch On May 7: Equity indices closed almost flat-to-lower in a rangebound trade on Monday as investors booked profits amid high valuation concerns. In today’s trade, shares of PB Fintech, Dr Reddy’s, HPCL, Godrej Consumer, LTIMindtree among others will be in focus due to various news developments and quarterly earnings.

Results on May 7: Dr Reddy’s Laboratories, PB Fintech, JSW Energy, Voltas, Century Textiles & Industries, Delta Corp, Graphite India, Indraprastha Gas, IRB Infrastructure Developers, Jindal Saw, Jupiter Wagons, Kajaria Ceramics, KEC International, Max Financial Services, Navin Fluorine International, Pidilite Industries, Sonata Software, United Breweries, and Bigbloc Construction will release quarterly earnings on May 7.

Godrej Consumer Products: The FMCG company has posted a net loss of Rs 1,893.2 crore for the quarter ended March FY24 despite healthy operating numbers, impacted by an exceptional loss of Rs 2,375.65 crore for the quarter (against an exceptional loss of Rs 22.2 crore in the year-ago period). In Q4 FY23, it recorded a profit of Rs 452.1 crore. Revenue from operations grew by 5.8 percent year over year to Rs 3,385.6 crore for the quarter, with volume growth of 12 percent and India business volume growth of 15 percent. On the operating front, EBITDA jumped 17.9 percent year-on-year to Rs 755.7 crore, with a margin expansion of 230 bps at 22.3 percent in Q4 FY24. The company declared an interim dividend of Rs 10 per share.

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

Lupin: The global pharma company has recorded consolidated net profit at Rs 359.4 crore for the fourth quarter of financial year 2024, growing 52.3 percent over the corresponding period of the previous fiscal, with EBITDA rising 72.5 percent to Rs 997 crore and margin expanding 700 bps to 20 percent during the same period. Revenue from operations increased by 12 percent year over year to Rs 4,960.8 crore for the quarter. Meanwhile, the company has received approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application for Travoprost Ophthalmic Solution USP, 0.004 percent (Ionic Buffered Solution), to market in the US. Travoprost Ophthalmic Solution is a generic equivalent to the reference listed drug (RLD) Travatan Z Ophthalmic Solution of Sandoz Inc., which is used for the reduction of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension.

Gujarat Gas: The city gas distribution company has registered 86 percent quarter-on-quarter growth in net profit at Rs 409.5 crore for the quarter ended March FY24, driven by a reduction in spot gas prices and an increase in volumes. Revenue from operations (excluding excise duty) grew by 5.2 percent sequentially to Rs 4,134.2 crore for the quarter. The board has recommended a dividend of Rs 5.66 per share and approved the appointment of Rajesh Sivadasan as the Chief Financial Officer and Head of the Investor Relations Department of the company, with effect from May 6.

Route Mobile: The cloud communication platform service provider has registered net profit at Rs 95.2 crore for the quarter ended March FY24, falling 8.5 percent over a year-ago period with lower operating numbers. Revenue from operations grew by 0.8 percent year-on-year to Rs 1,017 crore for the fourth quarter of the financial year 2024. In the full year FY24, profit increased by 16.7 percent to Rs 388.8 crore, and revenue jumped 10 percent to Rs 4,023.3 crore compared to the previous year.

Tamilnad Mercantile Bank: The lender has increased lending rates by 10-15 bps across tenures, with effect from May 7.

Hindustan Petroleum Corporation: HPCL said the board will consider a proposal for the recommendation of bonus equity shares along with Q4 and FY24 results on May 9.

DCM Shriram: The company has reported consolidated net profit at Rs 117.8 crore for the quarter ended March FY24, declining 36.9 percent compared to the corresponding period of the previous fiscal, with lower topline and weak operating numbers. Revenue from operations (excluding excise duty) fell 11.8 percent year over year to Rs 2,399.3 crore for the quarter.

Muthoot Microfin: The NBFC microfinance institution recorded net profit of Rs 119.8 crore for the March FY24 quarter, growing 26.7 percent over the same period in the in the previous fiscal. Net interest income increased by 47 percent year-on-year to Rs 400 crore for the quarter, with a net interest margin expansion of 65 bps YoY at 13.52 percent. Pre-provision operating profit (PPOP) jumped 62.66 percent YoY to Rs 244 crore during Q4 FY24.