Stock Market Watch: High-Potential Stocks Poised for a Surge on May 29, 2024

Indian Stock Market: Leading Picks to Consider for Investment on May 29, 2024

ICICI Bank Ltd

Rs.1,105.35/-

ICICI Bank Faces Regulatory Challenges

• RBI fines ICICI Bank Rs 1 crore for non-compliance with Loans and Advances regulations.
• Allahabad High Court directs ICICI Bank’s chairman to explain the use of recovery agents.
• Sanctioned term loans without due diligence, leading to penalties.
• ICICI Bank has yielded a 160.14% return over the last five years.

Aditya Birla Fashion and Retail Ltd

Rs.294.95/-

Aditya Birla Fashion & Retail Reports Q4 Financial Performance

• Net loss for Q4FY24: Rs 266.4 crore, up from Rs 194.5 crore YoY.
• Revenue from operations rose by 18.3% YoY to Rs 3,406.7 crore.
• EBITDA increased by 47.1% YoY to Rs 284 crore, with margin growth to 8.3% from 6.7%.
• ABFRL has delivered a 45.15% return over the past year.

UltraTech Cement Ltd

Rs.9,989.70/-

UltraTech Cement Eyes Stake in RAK Cement

• Plans to acquire 31.6% stake in UAE-based RAK Cement for Rs 1,200 crore.
• Acquisition aims to expand UltraTech’s global business and product line.
• Analysts predict impact on premium valuation of large industry players due to aggressive volume push.
• UltraTech Cement has delivered a 30.42% return in the past year.

HDFC Life Insurance Company Ltd

Rs.565.60/-

HDFC Life Insurance Faces Financial Losses and Leadership Changes

• HDFC Life Insurance Co shares dropped by 1.9%, while HDFC Bank fell by 1.2%, both ranking among the top Nifty losers.
• Chief Risk Officer Rangarajan BN resigned effective July 15, 2024, to pursue personal opportunities.
• Khushru Sidhwa appointed as the new Chief Risk Officer, effective July 16.
• HDFC Life Insurance reported a -2.56% return over the past year.

Amara Raja Energy & Mobility Ltd

Rs.1,209.00/-

Amara Raja Energy & Mobility: Mixed Q4 Results and Robust Annual Growth

• Amara Raja Energy & Mobility reported a revenue decline in Q4 compared to the previous quarter.
• Year-over-year profit increased by 64.81%, with revenue growth of 19.69%.
• FY24 financials show a 13% increase in revenue, driven by lead acid battery and new energy businesses.
• ARE&M achieved a 102.13% return over the last year.

Nazara Technologies Ltd

Rs.687.05/-

Nazara Technologies Ltd: Disappointing Q4 Results and Bearish Calls

• Nazara Technologies’ Q4 results disappoint, prompting bearish calls from multiple brokerages.
• CLSA issues a sell call with a target cut to Rs 525 per share, while Jefferies recommends hold with a target cut to Rs 650 per share.
• Promoter Mitter Infotech sells 6.36% stake to Plutus Wealth Management.
• NAZARA records a 7.75% return over the past year.

Indian Railway Catering and Tourism Corp Ltd

 Rs.1,049.25/-

IRCTC Reports Q4FY24 Results: Steady Growth and Dividend Announcement

• IRCTC’s Q4FY24 net profit reaches Rs 284 crore, marking a 1.9% year-over-year increase.
• Revenue from operations rises by 19.7% to Rs 1,154.8 crore in Q4FY24.
• The Board recommends a final dividend of Rs 4 per equity share for FY24.
• IRCTC delivers a strong return of 70.54% over the past year.

Hindware Home Innovation Ltd

Rs.398.95/-

Hindware Home Innovation Ltd: Shares Dip Amid Sales Decline

• Hindware Home Innovation Ltd’s shares plummeted by 9.80% to Rs 385.15, hitting the lowest level since May 28.
• The stock has experienced a 23.61% decline over the past 12 months and a 22.31% decrease year-to-date.
• Standalone net sales for March 2024 stood at Rs 109.16 crore, down 22.31% year-over-year, with a quarterly net loss of Rs 27.87 crore.
• HINDWAREAP has delivered an impressive return of 158.39% over the last 5 years.

Concord Biotech Ltd

Rs.1,512.65/-

Kotak Upgrades Concord Biotech: Positive Momentum Continues

• Kotak Institutional Equities upgrades Concord Biotech, setting a target price of Rs 1,550 per share.
• Concord reports robust Q4 results and anticipates further improvement in FY2025 and FY2026.
• Ontario Inc. divests a 3.4% stake in the company through an open market transaction.
• CONCORDBIO delivers impressive returns of 52.82% over the past year.

Jubilant FoodWorks Ltd

Rs.516.40/-

Jubilant FoodWorks: Ambitious Expansion Plans Unveiled

• Jubilant FoodWorks unveils plans to open 180 Dominos stores, 50 Popeyes, and 25 Hongs Kitchen outlets in FY25.
• The company anticipates maintaining high Capex levels over the next two years to support robust store additions.
• Expansion initiatives hold the potential to drive future revenue growth for Jubilant FoodWorks.
• JUBLFOOD records a modest return of 1.81% over the past year.

Sumitomo Chemical India Ltd

Rs.480.00/-

Sumitomo Chemical India: Strong Q4 Performance Signals Growth

• Sumitomo Chemical India’s Q4FY24 net profit surges by 52% YoY to Rs. 110 crore.
• Revenue witnesses a modest 3.5% YoY growth, while EBITDA experiences a remarkable surge of 73.9%, leading to margin expansion.
• The company is poised to prioritize revenue recovery and brand building efforts for recently launched products.
• SUMICHEM delivers impressive returns of 119.73% over the past 5 years.

PNB Housing Finance Ltd.

Rs.735/-

PNB Housing Finance: Block Deal and Stock Movement

• Two shareholders offer a 2.68% stake in PNB Housing Finance, equating to 6.96 million shares, with a floor price of Rs 717 per share.
• The sale targets to raise approximately Rs 500 crore.
• PNB Housing Finance stock witnesses a decline of up to 8.1%, reaching 724.55.
• PNBHOUSING records a notable return of 66.24% over the past year.

Campus Activewear Ltd

Rs.291.20/-

Campus Activewear: Impressive Q4 Performance and Analyst Recommendations

• Campus Activewear reports robust Q4 FY24 earnings, with a 44% YoY increase in net profit and a 4.5% rise in total revenue.
• Motilal Oswal brokerage recommends a buy call on the stock, setting a target price of 295 per share, indicating a potential upside of 16% from Tuesday’s closing levels.
• The company achieves a revenue growth CAGR of 18.7% over the past five years.
• CAMPUS records a negative return of -32.82% over the last 5 years.

MTAR Technologies Ltd

Rs.1,826.35/-

MTAR Technologies: Revenue Guidance Revision and Analyst Outlook

• MTAR Technologies revises revenue growth guidance to 30-35% from 45-50%, along with a lowered EBITDA margin of 21-23% from 26%.
• Q4FY24 net profit declines by 53.4% YoY, while PAT for FY24 drops by 45.6% YoY.
• Motilal Oswal maintains a Buy rating on MTAR Technologies, citing strong growth prospects.
• MTARTECH records impressive returns of 115.98% over the last 3 years.

ZF Commercial Vehl Cntrl Sytm India Ltd

Rs.16,423.00/-

ZF Commercial Vehicle Control System India: Analysis of Mixed Results

• ZF Commercial Vehicle Control System India Ltd reports a 1.87% YoY decline in net sales for March 2024.
• Quarterly net profit in March 2024 decreases by 1% from the previous year, while EBITDA rises to Rs. 165.97 crore, up 2.41% YoY.
• ZFCVINDIA records a notable return of 56.02% over the last 1 year.

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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.