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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 at Stock Market

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 at Stock Market

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 at Stock Market

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 Bank at Stock Market

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 at Stock Market

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 at Stock Market

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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Source: Google

News Desk: News Lounge 24×7

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.

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