Stock Market Alert: Must-Watch Stocks Set to Skyrocket on May 31, 2024

Indian Stock Market: Top Investment Picks for May 31, 2024

Reliance Industries Ltd

Rs.2,864.30/-

Reliance Industries Shines in TIME’s Top 100 List

• Global Recognition: Reliance Industries, alongside Tata Group, is featured in TIME’s list of the 100 World’s Most Influential Companies of 2024.
• Innovative Expansion: Jio Financial Services launches JioFinance, a comprehensive super-app for digital banking and payment services.
• Growth Potential: Reliance Industries’ foray into financial services signals promising prospects for future revenue growth.
• Investor Returns: Despite market fluctuations, RELIANCE has provided a solid return of 25.96% over the past year, highlighting its robust performance.

Sun Pharmaceutical Industries Ltd

Rs.1,456.10/-

Sun Pharma Faces Medication Recall in the US

• Product Recall: Sun Pharma’s US-based unit recalls 35,069 bottles of medication for treating high eye pressure due to glaucoma and other eye diseases.
• Market Impact: The recall could potentially affect Sun Pharma’s reputation and financial standing in the US market.
• Strategic Investment: Sun Pharma acquires a 14.28% stake in the Indian Foundation for Quality Management for Rs 12.5 crore, indicating its commitment to quality improvement.
• Investor Returns: Despite challenges, SUNPHARMA has delivered impressive returns of 54.12% over the past year, demonstrating robust performance.

Swan Energy Ltd

Rs.574.75/-

Swan Energy’s Q4: Profit Decline Amid Revenue Surge

• Profit Dip: Swan Energy Ltd’s Q4FY23 profit decreased by 10.5% YoY, totaling Rs 55.5 crore.
• Revenue Surge: Despite the profit decline, revenues saw a remarkable 50% increase, reaching Rs 1,407 crore from Rs 937 crore in Q4FY23.
• Growth Potential: The substantial rise in revenue suggests potential for future growth and expansion.
• Investor Returns: SWANENERGY has delivered impressive returns of 173.11% over the past year, indicating strong performance and investor confidence.

Vedanta Ltd

Rs.442.25/-

Vedanta Earns Top Rating from ICRA

• Positive Rating: ICRA assigns an A1+ rating to Vedanta’s Rs 2,500-crore commercial paper, highlighting the company’s diversified product portfolio and strong market share.
• Key Contributor: Sterlite Copper, a Vedanta subsidiary, meets up to 36% of India’s refined copper demand.
• Investor Performance: VEDL has provided substantial returns of 59.05% over the past year, reflecting robust performance and investor confidence.

Tube Investments of India Ltd

Rs. 3,711.00/-

Tube Investments Bolsters EV Market Position

• Strategic Acquisition: Tube Investments of India’s subsidiary, TI Clean Mobility, acquires a 23.69% stake in IPLTech Electric for Rs 185 crore.
• Increased Shareholding: This acquisition raises TI Clean Mobility’s shareholding in IPLTech from 65.77% to 89.46%.
• Market Strengthening: The move is expected to enhance Tube Investments’ standing in the electric vehicle market
• impressive Returns: TIINDIA has delivered exceptional returns of 857.66% over the past five years, showcasing strong long-term performance.

Aarti Industries Ltd

Rs.615.65/-

Aarti Industries Welcomes New CEO Amid Financial Shifts

• Leadership Change: Aarti Industries appoints Suyog Kalyanji Kotecha as CEO, effective June 17.
• Profit Decline: The company’s consolidated net profit decreased by 11.4% to Rs 132 crore in Q4 FY24 compared to the same period last year.
• Revenue Growth: Revenue from operations increased by 7.07% YoY, reaching Rs 1,773 crore in Q4 FY24.
• Investor Returns: AARTIIND has provided a return of 22.46% over the past year, reflecting steady investor confidence despite recent profit declines.

Jio Financial Services Ltd

Rs.344.80/-

Jio Financial Services Unveils Beta Version of JioFinance App

• New App Launch: Jio Financial Services introduces the beta version of the JioFinance app, providing UPI, digital banking, and other financial services.
• Competitive Strategy: This launch aims to position JioFinance as a strong competitor against tech giants like Google and Amazon in the financial services sector.
• Market Performance: JIOFIN has delivered an impressive 40.3% returns over the past year, reflecting robust growth and investor confidence.

Icici Prudential Life Insurance Comp Ltd

Rs.549.45/-

ICICI Prudential Life Welcomes New Chairman

• Leadership Update: Sandeep Batra appointed as Chairman of the board of directors of ICICI Prudential Life Insurance Company Ltd.
• Regulatory Approval: Appointment approved by IRDAI, effective from June 30, 2024.
• Positive Impact: This appointment is expected to enhance stability and continuity in leadership, potentially boosting investor sentiment.
• Steady Returns: ICICIPRULI has provided returns of 18.96% over the past year, indicating consistent performance and investor confidence.

Bharat Dynamics Ltd

Rs. 1,511.30/-

Bharat Dynamics Posts Robust Q4 Performance

• Profit Surge: Bharat Dynamics Ltd reports a remarkable 89% YoY increase in net profit for Q4FY24, reaching Rs 288.8 crore.
• Revenue Growth: Revenue from operations rose by 7%, totaling Rs 854.1 crore compared to the same period last year.
• Investor Confidence: The company’s strong revenue outlook contributes to its high P/S ratio, bolstering shareholder confidence in future earnings.
• Impressive Returns: BDL has delivered outstanding returns of 751.98% over the past three years, highlighting its strong market performance.

Suven Pharmaceuticals Ltd

Rs.617.65/-

Suven Pharmaceuticals Faces Financial Downturn

• Profit Decline: Suven Pharmaceuticals Ltd reports a steep 56.9% YoY drop in net profit, totaling 53.4 crore.
• Revenue Decrease: Revenue decreased by 31.5%, falling to 252.9 crore.
• EBITDA and Margin Impact: EBITDA plummeted by 57.4% to 73.3 crore, with the operating margin contracting to 29%.
• Investor Returns: Despite the downturn, SUVENPHAR has provided a return of 36.44% over the past year, indicating resilience amidst financial challenges.

Muthoot Finance Ltd

Rs.1,690.05/-

Muthoot Finance Excels with Strong Q4 Performance

• Profit Surge: Muthoot Finance reports a robust 17% YoY increase in net profit for Q4FY24, reaching Rs 1,056.3 crore.
• Loan Asset Growth: The company’s consolidated loan assets under management expand by 25% to Rs 89,079 crore.
• Analyst Insight: CLSA issues an Underperform call on Muthoot Finance, setting a target price of Rs 1,700 per share.

Investor Returns: Despite the analyst’s assessment, MUTHOOTFIN has delivered significant returns of 55.76% over the past year, showcasing strong investor confidence.

Welspun Corp Ltd

Rs.552.50/-

Welspun Corp Posts Robust Q4 Results

• Profit Growth: Welspun Corp Ltd reports a substantial 19.7% YoY increase in net profit for Q4FY24, reaching Rs 287.3 crore.
• Revenue Rise: The company’s revenue sees a solid 9.6% YoY growth, totaling Rs 4,461.2 crore.
• EBITDA Decline: Despite profit and revenue growth, EBITDA declines by 21.9% YoY to Rs 330.2 crore, leading to a contraction in EBITDA margin to 7.4% from 10.3% YoY.
• Investor Returns: WELCORP has delivered impressive returns of 146.92% over the past year, indicating strong market performance despite operational challenges.

Welspun Corp Ltd

Rs.552.50/-

Welspun Corp Posts Robust Q4 Results

• Profit Growth: Welspun Corp Ltd reports a substantial 19.7% YoY increase in net profit for Q4FY24, reaching Rs 287.3 crore.
• Revenue Rise: The company’s revenue sees a solid 9.6% YoY growth, totaling Rs 4,461.2 crore.
• EBITDA Decline: Despite profit and revenue growth, EBITDA declines by 21.9% YoY to Rs 330.2 crore, leading to a contraction in EBITDA margin to 7.4% from 10.3% YoY.
• Investor Returns: WELCORP has delivered impressive returns of 146.92% over the past year, indicating strong market performance despite operational challenges.

Sunteck Realty Ltd

Rs.466.85/-

Sunteck Realty Reports Strong Q4 Performance

• Sunteck Realty reports a net profit of Rs 101.3 crore in Q4FY24, compared to a loss of Rs 27.9 crore in the same period last year.
• Revenue from operations surged by nearly 9-fold to Rs 426.9 crore in Q4FY24 as against Rs 48.9 crore in the corresponding period of the preceding fiscal.
• EBITDA reached Rs 153.4 crore, compared to a loss of Rs 9.1 crore in the previous year.
• SUNTECK has given 68.03% returns in last 1 year

Praj Industries Ltd

Rs.532.50/-

Praj Industries Shows Modest Q4 Profit Growth

• Praj Industries Ltd reports a marginal 4.3% YoY increase in profit to Rs 91.9 crore in Q4FY24.
• Revenue also sees a slight uptick of 1.5% YoY, reaching Rs 1,018.6 crore.
• Despite marginal growth, the company’s financial performance signifies steady progress and stability.
• PRAJIND has provided returns of 31.86% over the last year, indicating sustained investor confidence amidst moderate profit growth.

Apollo Hospitals Enterprise Limited

Rs.5,762.15/-

Apollo Hospitals Excels with Strong Q4 Performance

• Apollo Hospitals Enterprise Ltd reports a remarkable 77% YoY increase in consolidated net profit for Q4FY24, reaching Rs 258 crore.
• The company’s revenue from operations rises by 15% YoY to Rs 4,944 crore during the same period.
• Analyst Insight: MS issues an Overweight call on Apollo Hospitals, setting a target price of Rs 7,181 per share.
• investor Returns: APOLLOHOSP has delivered impressive returns of 390.73% over the last five years, indicating sustained market growth and investor confidence.

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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.