Stock Market Alert: High-Growth Stocks Set to Soar on May 30, 2024

Indian Stock Market: Top Investment Picks for May 30, 2024

CG Power and Industrial Solutions Ltd

 ₹656.30/-

CG Power & Industrial Solutions: UBS Buy View

• UBS maintains a buy recommendation on CG Power, increasing the target to ₹850 per share.
• CG Power shares have surged 65% over the past month, with a 1-month return of 13%.
• Strategic capital allocation and timely capacity expansions are projected to drive profit growth.
• In the past five years, CG Power has delivered an impressive 1615.12% return.

Capacite Infraprojects Ltd

 ₹309.20/-

Capacite Infraprojects: Impressive Financial Performance

• Capacite Infraprojects’ consolidated profit after tax soared to ₹52 crore in Q4 FY24, driven by higher revenue.
• Revenue grew by 25% from Q3 FY24 to Q4 FY24, with net profits increasing by 75% in the same period.
• Over the past year, Capacite Infraprojects has delivered a remarkable 93.5% return.

Lemon Tree Hotels Ltd

₹140.10/-

Lemon Tree Hotels: Strong Q4FY24 Financial Performance

• Lemon Tree Hotels Ltd recorded a 52.1% year-on-year rise in net profit, reaching ₹67 crore for Q4FY24.
• Operational revenue surged by 29.5%, totaling ₹327.3 crore compared to the previous year.
• For FY24, PAT increased by 42% sequentially and 29% annually, amounting to ₹181.7 crore from ₹140.5 crore in FY23.
• Over the past three years, Lemon Tree Hotels has achieved an impressive 235.17% return.

Sumitomo Chemical India Ltd

 ₹479.35/-

Sumitomo Chemical India Exceeds Forecasts

• Sumitomo Chemical India’s revenue reached ₹29 billion, surpassing expectations by 3.4%.
• Earnings per share (EPS) stood at 7.40, exceeding estimates by 8.7%.
• Revenue is projected to grow at an average annual rate of 14% over the next two years.
• Over the past five years, Sumitomo Chemical India has delivered a 123.72% return.

Tata Steel Ltd

₹166.10/-

Tata Steel Q4 Profit Declines

• Tata Steel’s Q4 profit decreased by 64% year-on-year, attributed to lower steel realizations and weak international performance.
• The board has approved issuing additional debt securities worth ₹3,000 crore and injecting up to $2.11 billion into T Steel Holdings Singapore, a wholly-owned subsidiary.
• Jefferies maintains a Buy rating for Tata Steel with a target price of ₹200.
• Over the past year, Tata Steel has delivered a return of 61.27%.

Kfin Technologies Ltd

₹693.70/-

General Atlantic to Divest Stake in KFin Technologies

• General Atlantic Singapore Fund plans to sell a 4.1% stake in KFin Technologies, potentially increasing to 6.8%.
• The floor price for the sale is set at ₹712.50 per share, a 4% discount from the current market price.
• This stake sale might lead to increased liquidity and short-term volatility.
• Over the past year, KFin Technologies has achieved a return of 130.42%.

ITI Ltd

₹306.05/-

ITI Ltd Q4 Financial Performance Overview

• ITI Ltd’s Q4 net sales fell by 22.44% year-on-year to ₹601.28 crore.
• The company’s quarterly net loss surged by 227.81% year-on-year to ₹238.94 crore in March 2024.
• ITI Ltd has experienced negative returns over the past week and year-to-date.
• Despite recent challenges, ITI Ltd has delivered a 182.04% return over the last year.

Ion Exchange (India) Ltd

₹510.50/-

Ion Exchange: Profit Decline Amid Revenue Growth

• Ion Exchange (India) Ltd reported a 10.8% decrease in profit, totaling ₹72.5 crore.
• Revenue increased by 20.7%, reaching ₹781.8 crore.
• The company’s revenue growth suggests potential for future stock price appreciation.
• Over the past three years, Ion Exchange has delivered a return of 187.28%.

SJVN Ltd

₹134.10/-

SJVN’s Remarkable Profit Surge

• Profit Soars: SJVN reports a remarkable over two-fold increase in consolidated profit to Rs 61.08 crore during the March quarter, driven by exceptional gains.
• Revenue Decline: Despite profit growth, revenue witnesses a slight 4.1% YoY decline to Rs 482.9 crore from Rs 503.8 crore.
• Dividend Approval: The board approves a final dividend of Rs 0.65 per equity share for FY24, reinforcing shareholder value.
• Strategic Partnership: SJVN forms a joint venture with Indian Oil Corporation Ltd, enhancing growth prospects.
• Investor Returns: SJVN yields impressive 287.73% returns over the past year, signifying robust performance and investor satisfaction.

Heritage Foods Ltd

₹408.35/-

Heritage Foods Celebrates Impressive Q4 Profit Surge

• Profit Soars: Heritage Foods witnesses a remarkable over two-fold increase in Q4 profit, surging to Rs 40.5 crore.
• Revenue Boost: Amidst the profit leap, revenue records a substantial 16.3% YoY rise, reaching Rs 950.6 crore.
• Market Dynamics: Increased demand for branded dairy products, fueled by higher milk prices, drives the company’s revenue growth.
• Investor Gains: Investors benefit from Heritage Foods’ performance, with an impressive 80.89% returns over the last year.

IRB Infrastructure Developers Ltd

₹66.25/-

IRB Infrastructure’s Share Block Deal Unfolds

• Discounted Shares: IRB Infrastructure Developers Ltd’s shares are poised to be sold in a block deal at a discount of up to 13.3%.
• Equity Sale: IRB Holding Pvt Ltd and Deepali Virendra Mhaiskar plan to sell up to 4% of the company’s equity for Rs 1,512 crore.
• Transaction Management: The block deal is managed by Jefferies India Private Ltd and CLSA India Private Ltd.
• Investor Insight: Despite the block deal, IRB Infrastructure has delivered an exceptional 533.07% returns over the last three years.

Edelweiss Financial Services Ltd

₹69.25/-

RBI’s Business Restrictions on Edelweiss Group Unveiled

• Regulatory Intervention: The Reserve Bank of India (RBI) imposes business restrictions on two Edelweiss group entities, ECL Finance Ltd and Edelweiss Asset Reconstruction Co. Ltd.
• Supervisory Concerns: These actions stem from material concerns identified during supervisory examinations, primarily related to the conduct of the group entities acting collectively.
• Impact: The imposed restrictions signify a regulatory intervention aimed at addressing observed deficiencies and ensuring compliance.
• Investor Alert: Despite these developments, Edelweiss has delivered a notable 113.44% returns over the past year, highlighting investor confidence amidst regulatory challenges.

Emami Ltd

₹607.50/-

Emami’s Q4 Shows Modest Growth

• Profit Increase: Emami Ltd reports a modest 3.7% YoY rise in net profit for Q4 FY24.
• Revenue Growth: Revenue from operations sees a healthy 6.6% increase, reaching Rs 891.2 crore.
• Business Expansion: Domestic business witnesses an 8% growth, while international business grows by 9% in constant currency and 8% in INR terms.
• Investor Performance: Despite the modest growth, EMAMILTD yields a respectable 33.49% returns over the past year, signifying investor satisfaction and confidence.

Alkem Laboratories Ltd

₹4,980.00/-

Alkem Laboratories Surges with Three-Fold Profit Growth

• Remarkable Profit Leap: Alkem Laboratories achieves a significant three-fold increase in consolidated net profit for Q4FY24, soaring to 293.56 crore, fueled by derecognition of deferred tax.
• Steady Revenue Growth: Despite the profit surge, the company records a modest 1.1% YoY revenue increase for the quarter, amounting to 2,935.8 crore.
• Shareholder Rewards: The board recommends a final dividend of $5 per share of 2 each for FY24, underlining Alkem’s commitment to rewarding its shareholders.

Investor Benefits: Despite the profit surge, ALKEM generates impressive returns of 58.7% over the past year, showcasing robust performance and investor confidence

ISGEC Heavy Engineering Ltd

₹1,032.40/-

ISGEC Heavy Engineering Faces Profit and Revenue Decline

• Profit Downturn: ISGEC Heavy Engineering Ltd records a significant 22.6% decline in profit, amounting to 72.1 crore.
• Revenue Slump: The company experiences an 8.6% decrease in revenue, totaling 1,868 crore.
• Market Impact: The decline in both revenue and profit could potentially exert a negative influence on the stock price, signaling challenges for investors.
• Investor Performance: Despite the recent downturn, ISGEC has delivered impressive returns of 118.27% over the past year, reflecting previous robust performance amidst current setbacks.

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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.