Stock Market Alert: Must-Watch Stocks Set to Skyrocket on May 16, 2024

Top Trending Stocks in Indian Stock Market to Invest In on May 16, 2024

APL Apollo Tubes: Mixed Q4 Results

Rs.1,635.95/-

• APL Apollo Tubes Ltd witnessed a positive increase of 2.86% in its stock value.
• Consolidated net sales for March 2024 amounted to Rs. 4,765.74 crore, marking a YoY increase of 7.55%.
• However, the quarterly net profit for March 2024 stood at Rs. 170.44 crore, reflecting a decline of 15.55% from March 2023.
• Despite mixed quarterly results, the stock has surged by 38.81% over the past year, outperforming both the NIFTY and the Nifty Metal index.
• Over the last five years, APLAPOLLO has delivered remarkable returns of 1001.46%, demonstrating its strong performance and growth potential in the market.

 

ABB: Upgraded Earnings

Rs.8,287.85/-

• ABB India Ltd observed a modest increase of 2.53% in its stock value.
• The company experienced a significant upgrade in earnings, with nearly a 10% improvement.
• Valuation poses a challenge for investors, but adopting a strategy of holding onto the stock and seizing opportunities to add more may prove advantageous.
• Over the past three years, ABB has delivered impressive returns of 468.77%, showcasing its potential for growth and profitability in the market.

 

CMS Info Systems: Strong Q4 Performance

Rs.425/-

• CMS Info Systems Ltd observed a substantial increase of 4202.46% in its stock value.
• The company reported a robust 25.1% year-on-year growth in revenue, amounting to Rs. 627 crore for Q4 FY24.
• Additionally, CMS Info Systems achieved a 23% year-on-year increase in net profit, reaching Rs. 99.4 crore for Q4 FY24, indicating strong financial performance.
• To reward shareholders, the board recommended a final dividend of Rs. 3.25 per equity share, bringing the total dividend for FY24 to Rs. 5.75 per equity share.
• Over the past year, CMSINFO has delivered returns of 30.48%, showcasing its resilience and attractiveness to investors amidst positive financial results.

 

Keystone Realtors: FY24 Performance Highlights

Rs.711/-

• Keystone Realtors Ltd witnessed a remarkable increase of 7174.75% in its stock value.
• Despite a 60% year-on-year decline in Q4 net profit to Rs. 30.68 crore, the company achieved a notable 36.92% increase in FY24 net profit, totaling Rs. 112.21 crore.
• Total income for FY24 surged to Rs. 2,275.63 crore, marking substantial growth compared to Rs. 724.90 crore in the previous fiscal year.
• Despite fluctuations in quarterly performance, RUSTOMJEE has delivered consistent returns of 44.06% over the past year, indicating investor confidence amidst overall positive financial results for Keystone Realtors.

 

Power Finance Corporation: Strong Q4 Performance

Rs.453.10/-

• Power Finance Corporation Ltd witnessed a positive increase of 3.87% in its stock value.
• The company reported a robust 23% year-on-year increase in consolidated net profit for the March quarter of FY24, indicating strong financial performance.
• During the fiscal year, PFC’s loan portfolio expanded by 14%, and it anticipates assets under management to grow between 12-15% in the current financial year, showcasing positive growth prospects.
• To reward shareholders, PFC declared a final dividend of Rs. 2.5 per share for FY24, in addition to interim dividends of Rs. 11 already paid during the year, underlining its commitment to shareholder value.
• Over the past year, PFC has delivered impressive returns of 207.92%, demonstrating its resilience and attractiveness to investors amidst strong financial results.

 

Bharti Airtel: Mixed Q4 Results

Rs.1,340.95/-

• Bharti Airtel reported a 4.4% year-on-year increase in Q4 revenue, but experienced a significant 31.1% decline in net profit due to currency devaluation in Africa.
• Despite the profit decline, brokerages have raised their target price on Bharti Airtel, citing potential for tariff hikes and growth in Average Revenue Per User (ARPU).
• Bharti Airtel is actively seeking acquisitions in the B2B space to expand its enterprise business, indicating strategic initiatives for growth.
• Over the past year, BHARTIARTL has delivered returns of 61.13%, demonstrating investor confidence amidst mixed financial results and strategic moves by the company.

 

Goa Carbon: Profit Surge

Rs.863.95/-

• Goa Carbon Ltd witnessed a decrease of 4.78% in its stock value.
• The company reported a substantial 77.4% increase in net profit, reaching Rs. 9.4 crore compared to the previous year, showcasing robust financial performance.
• Despite a revenue decline, Goa Carbon’s EBITDA decreased by 10.3%, resulting in an improved margin of 7.8% year-on-year.
• The positive Q4 earnings report is expected to boost investor confidence and potentially drive future growth for Goa Carbon Ltd.

 

Nilkamal: Q4 Performance and Fundraising

Rs.1,897.55/-

• Nilkamal Ltd observed a modest increase of 1.98% in its stock value.
• Despite a marginal 0.64% year-on-year rise in Q4 revenue, the company’s profit declined significantly by 26.35%.
• Nilkamal has authorized the issuance of debentures on a private placement basis to raise funds, targeting up to Rs. 200 crore.
• As of May 16, 2024, the company has received coverage from 1 analyst, who has given a Hold rating.
• Over the last five years, NILKAMAL has delivered returns of 65.04%, showcasing its consistent growth trajectory and investor confidence.

 

Apollo Tyres: Mixed Q4 Results

Rs.490.05/-

• Apollo Tyres Ltd witnessed an extraordinary increase of 496444.72% in its stock value.
• While Apollo Tyres reported a decline in Q4 net profit, its full-year profits witnessed a surge, reflecting mixed financial results.
• JPMorgan maintains a neutral rating on the stock with a target price of Rs. 535, suggesting a cautious stance.
• Nomura has upgraded its rating to neutral and set a target price of Rs. 512, indicating a more positive outlook.
• Over the last three years, APOLLOTYRE has delivered returns of 125.36%, demonstrating its historical performance and potential for growth.

 

Maruti Suzuki: Safety Features Enhancement

Rs.12,509.85/-

• Maruti Suzuki India Ltd’s stock value decreased by 2.2%.
• The company introduced enhanced safety features in its new-gen Swift hatchback and Fronx SUV, including six airbags as standard.
• With the introduction of the Delta+(0) variant, Maruti Suzuki targets mid-level consumers seeking affordability and advanced safety technology.
• These upgrades are anticipated to bolster Maruti Suzuki’s position in the fiercely competitive Indian automobile market.
• Over the last one year, MARUTI has delivered returns of 39.17%, indicating its consistent performance and attractiveness to investors amidst safety feature enhancements.

 

Oberoi Realty: Strong Q4 Performance

Rs.1,690.60/-

• Oberoi Realty Ltd witnessed a significant increase of ₹1,7028.12% in its stock value.
• The company reported a robust 64% year-on-year increase in net profit for Q4FY24, indicating strong financial performance.
• Oberoi Realty’s revenue from operations surged by 37% year-on-year to ₹1,315 crore during the quarter, while total income grew by 57% to ₹1,558.56 crore.
• The board declared its third interim dividend of ₹2 per equity share and recommended a final dividend of ₹2 per equity share, highlighting its commitment to shareholder value.
• Over the past three years, OBEROIRLTY has delivered returns of 185.52%, underscoring its consistent growth and attractiveness to investors.

 

Canara Bank: Surge After Stock Split

Rs.1,690.60/-

• Canara Bank’s stock split arrangement of 1:5 became effective, leading to a surge of 4.8% in the stock price.
• The stock split is expected to enhance liquidity on the counter and attract more retail investors.
• Experts anticipate a continued uptrend in Canara Bank shares following the stock split.
• Over the past three years, CANBK has delivered impressive returns of 269.09%, showcasing its growth potential and investor appeal.

 

Honeywell Automation: Strong Q4 Results

Rs.52,790/-

• Honeywell Automation India Ltd experienced a notable increase of 5.3% in its stock value.
• The company reported a robust 32.3% year-on-year increase in net profit, totaling ₹148.2 crore for Q4FY24.
• Revenue from operations witnessed a significant rise of 12% to ₹950.7 crore compared to the corresponding period of the previous fiscal year.
• Honeywell Automation announced a final dividend of Rs 100 per share for FY24, demonstrating its commitment to shareholder value.
• Over the past year, HONAUT has delivered returns of 27.33%, indicating its performance and appeal to investors amidst strong financial results.

 

Bandhan Bank: Expected Stable Financial Performance

Rs.179.65/-

• Bandhan Bank is anticipated to exhibit stable financial performance, driven by growth in its microfinance business and improving asset quality.
• Despite a slight decline in the benchmark NIFTY, the stock has surged approximately 9.35% over the past month.
• However, there is a concern regarding the higher cost of funds, which may slightly dent the bank’s margin.
• Over the last three years, BANDHANBNK has delivered negative returns of -33.68%, indicating challenges faced by the bank amidst market fluctuations.

 

NCC: Strong Q4 Performance

Rs.270.05/-

• NCC Ltd witnessed a significant surge of 46.17% in its stock value.
• The company reported a robust 25.2% year-on-year increase in net profit, totaling Rs 239.2 crore for Q4FY24.
• Revenue from operations saw a substantial rise of 31% to Rs 6,485 crore compared to the corresponding period last year.
• NCC declared a dividend payout of Rs 2.20 per share, indicating its commitment to shareholder returns.
• Additionally, the company’s new order wins are expected to contribute to future revenue growth.
• Over the past year, NCC has delivered returns of 120.85%, showcasing its performance and attractiveness to investors amidst strong financial results.

 

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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of News Lounge 24×7. We advise investors to check with certified experts before taking any investment decisions.