SUMMARY
Stocks to watch | From Tata Steel, RR Kabel, Kfin Technologies, IRB Infrastructure, Cummins, Aditya Birla Capital, Emami, GMR Airports and SJVN, here is a look at the stocks to watch in the May 30 trading session.
1 / 9Tata Steel | The company reported a 64.59% decline in net profit at ₹554.56 crore for the January-March quarter 2023-24. The steel major had posted a profit of ₹1,566.24 crore in the year-ago period. Total income declined to ₹58,863.22 crore during the quarter from ₹63,131.08 crore in the January-March period of FY23.
2 / 9RR cable | US private equity firm TPG Asia will likely sell its entire 5% stake in the wire and cable makers through block deals. The transaction involves offloading over 56 lakh shares at around ₹1,718 per share, or around ₹1,000 crore.
3 / 9Kfin Technologies | The General Atlantic Singapore Fund is set to sell a 4.1% stake in a technology-focused financial services company, with the possibility of increasing that stake to 6.8%. The base size of the issue is fixed at ₹500 crore and can be increased to ₹833.3 crore. The shares will be sold at a floor price of ₹712.5 each, a discount of 4.2% to the current market price on NSE.
4 / 9RIR Infrastructure | A global deal has been launched at a toll road company, with seller IRB Holding Private Ltd offering up to 225 million shares. Additionally, Deepali Virendra Mhaiskar is offering up to 15 million shares in this transaction. The price range of the offer is fixed between ₹63.0 and ₹72.7 per share.
5 / 9Cummins | The engine maker reported a 76.3% year-on-year rise in net profit to ₹561.5 crore for the fourth quarter. In the corresponding quarter, it recorded a net profit of ₹318.5 crore. The company’s turnover increased by 20.3 per cent to ₹2,316.2 crore, compared to ₹1,926 crore in the corresponding period of the previous fiscal.
6 / 9Aditya Birla Capital | A diversified financial services player said it has invested ₹300 crore in its wholly-owned subsidiary, Aditya Birla Housing Finance Ltd (ABHFL), through a rights issue. This investment aims to support ABHFL’s growth and financing needs, as well as improve its leverage ratio.
7 / 9Emami | The FMCG player reported a 3.7 per cent increase in its net profit year-on-year at ₹146.8 crore for the fourth quarter. In the corresponding quarter, it recorded a net profit of ₹141.6 crore. The company’s turnover increased by 6.6 per cent to ₹891.2 crore as against ₹836 crore in the corresponding period of the previous fiscal.
8 / 9Airports for GMR | The company reported a net loss of ₹167.6 crore for the fourth quarter ended March 31, 2024. In the corresponding quarter, it posted a net loss of ₹638.9 crore. The company’s turnover increased by 29.5 per cent to ₹2,446.8 crore as against ₹1,889.7 crore in the corresponding period of the previous fiscal.
9 / 9SJVN | The state-owned company reported a two-fold increase in consolidated profit to ₹61.08 crore in the March quarter. It reported a consolidated net profit of ₹17.21 crore in the year-ago period. The company’s financial results showed bumper gains of ₹103.84 crore during the quarter.
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