Stocks to watch | From Shriram Finance, JSPL, Cochin Shipyard, DLF, Sanofi, RVNL, Vedanta and Infosys, here is a look at the stocks to watch in the May 14 trading session.
Shriram Finance | The non-banking financial company said its board of directors has approved the sale of its housing finance subsidiary Shriram Housing Finance to private equity major Warburg Pincus. The proposed transaction is valued at ₹4,630 crore for SHFL’s equity and convertible instruments.
JSPL | The steel major reported a 100.21% year-on-year rise in net profit at ₹933.5 crore for the fourth quarter. In the corresponding quarter, JSPL recorded a net profit of ₹466 crore. The company’s revenue fell 1.5 per cent to ₹13,487 crore from ₹13,692 crore in the corresponding period of the previous fiscal.
Cochin Shipyard | The state-owned company said it had secured a “significant” order from a European customer for hybrid service operating vessels. The value of a large order is ranked between ₹500 and ₹1,000 crore. , according to the company’s press release. The project is expected to be completed by the end of 2026, he said.
DLF | India’s largest real estate company reported a 62 per cent rise in net profit to ₹920.71 crore in the quarter ended March. Its net profit stood at ₹570.01 crore in the year-ago period. Total revenue rose to ₹2,316.70 crore in the fourth quarter from ₹1,575.70 crore in the corresponding period of the previous year.
Sanofi | The pharmaceutical company reported a 77.3% year-on-year decline in net profit to ₹136.6 crore for the fourth quarter. In the corresponding quarter, Sanofi reported a net profit of ₹602 crore. The company’s operating revenue fell 74.3 per cent to ₹732.4 crore from ₹2,851.1 crore in the year-ago period.
RVNL | The state-owned company said it had bagged a contract with Southern Railway for ₹239 crore. The Letter of Acceptance (LoA) received by RVNL describes the supply of an automatic block signaling system covering Jolarpettai and Erode junctions within the Salem division of Southern Railway.
Vedanta | The mining conglomerate said it will convene a board meeting on May 16 to deliberate on various fundraising strategies, including the issuance of equity shares or other convertible securities. The meeting will also discuss the possibility of declaring a first interim dividend for the financial year 2024-25.
Infosys | The Canadian government has imposed a penalty of over 1.34 lakh Canadian dollars (around ₹82 lakh) on an IT company for alleged underpayment of employee health tax for the year ended December 31, 2020, according to a regulatory filing. Infosys received an order from the Department of Finance of Canada on May 9.
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