Stock Market Watch: High-Potential Stocks Poised for a Surge on June 3, 2024

Indian Stock Market: Leading Picks to Consider for Investment on June 3, 2024

Adani Power Ltd

₹863.50/-

Adani Power Expands Capacity

• Adani Power’s operating capacity grows by 12% to 15,250 MW.
• The company inaugurates a 1.6 GW Godda power plant and incorporates 2.8GW of renewable energy capacity.
• Despite a 48% decline in Q4 net profit, Adani Power is poised to benefit from the expansion of its thermal power capacity.
• ADANIPOWER has delivered an impressive 1287.09% return over the past five years.

Swan Energy Ltd

₹589.05/-

Swan Energy’s Q4 Financial Performance

• Q4 net profit decreased by 10.55% YoY to Rs 55.58 crore.
• Revenue from operations rose by 49.79% to Rs 1,397.90 crore.
• Stock hit a 5% lower circuit, trading at Rs 574.75 on the NSE.
• FY24 consolidated revenue soared to Rs 5,100 crore, up 251.99% YoY.
• Net profit for FY24 reached Rs 585 crore, reversing from a net loss of Rs 61 crore.
• SWANENERGY stock delivered a 152.98% return over the past year.

Persistent Systems Ltd

₹3,409.35/-

Persistent Systems Shares React to Salesforce Guidance

• Persistent Systems shares fell over 3% after Salesforce lowered its FY25 guidance.
• Infosys and Persistent Systems, both heavily reliant on Salesforce for employee and revenue exposure, saw their shares decline nearly 2% intraday.
• CLSA issued an “Accumulate” rating on Infosys and a “Sell” rating on Persistent Systems.
• Persistent Systems has delivered an impressive 1108.69% return over the past five years.

KNR Constructions Ltd

₹328.00/-

KNR Constructions Reports Stellar Q4 Earnings

• KNR Constructions’ shares surged 13% in two days, hitting a 52-week high.
• Q4 FY24 net profit soared 140% YoY to Rs. 353 crore.
• Revenue for the same period increased by 13% YoY to Rs. 1,414 crore.
• As of March 31, 2024, the order book stood at Rs. 5,304.8 crore, indicating potential future revenue growth.
• KNRCON has provided a 22.49% return over the past year.

Divi’s Laboratories Ltd

₹4,316.05/-

Divis Laboratories’ Q4FY24 Outperforms Expectations

• Divis Laboratories Ltd’s Q4FY24 results surpassed expectations, boosting investor confidence.
• Analysts predict a near-term share increase, expecting prices to reach ₹4,630.
• Technical analysis indicates a potential target of Rs 5,000 per share.
• DIVISLAB has delivered a 28.14% return over the past year.

Techno Electric & Engineering Cmpany Ltd

₹1,486/-

Techno Electric Reports Strong Q4 Results

• Techno Electric & Engineering posted a 40.47% YoY increase in Q4 revenue and a 27.55% YoY rise in profit.
• The company secured two project-specific special purpose vehicles from RECPDCL for power transmission.
• JM Financial issued a buy recommendation with a target price of Rs 1,485.
• TECHNOE has achieved an impressive 205.86% return over the past year.

Adani Enterprises Ltd

₹3,654/-

Adani Group Sees Strong Profit Growth

• Adani Group’s FY24 profit after tax (PAT) surged 55% to Rs 30,768 crore.
• Jefferies maintains a buy call on all three Adani stocks it covers.
• Adani Enterprises is investing $90 billion over the next decade, aiming to start Green Hydrogen production by FY2027.
• ADANIENT has delivered an astonishing 1964.14% return over the past five years.

TTK Prestige Ltd

₹694.55/-

TTK Prestige Reports Decline in Q4 Revenue and Profit

• TTK Prestige’s Q4 revenue fell by 15.69%, with profit down by 6.03% YoY.
• EPS for Q4 was ₹4.24, reflecting a 1.09% YoY decrease.
• Revenue growth is expected to lag behind the Consumer Durables industry in India.
• TTKPRESTIG has provided a 1.62% return over the past year.

Bikaji Foods International Ltd

₹583.00/-

Bikaji Foods Stock Surges on Strong Earnings

• Bikaji Foods International Ltd’s stock rose 9.96% to Rs. 597.40 on NSE.
• The volume surge is attributed to expectations of sustained earnings improvement due to synergies from new capacities under the PLI scheme.
• For Q4FY24, Bikaji reported a 199% YoY increase in net profit to Rs 11.56 crore, driven by strong demand for packaged sweets and snacks.
• BIKAJI has delivered a 42.24% return over the past year.

Welspun Corp Ltd

₹558.00/-

Welspun Corp Reports Lower Revenue Guidance

• Welspun Corp’s Q4 net profit increased by 19.7% YoY to Rs 287.3 crore.
• Revenue for the same period grew by 9.6% YoY to Rs 4,461.2 crore.
• The company projects a top line of Rs 17,000 crore and EBITDA of Rs 1,700 crore for FY25, lower than the previous fiscal year.
• Shares fell over 6% following a decline in Q4FY24 operating profit.
• WELCORP has delivered a 138.1% return over the past year.

Linde India Ltd

₹8,778.20/-

Linde India Reports Increase in Q4 Net Profit

• Linde India’s consolidated net profit rose by 6.3% YoY to Rs 105.4 crore for Q4 FY24.
• Quarterly revenue remained steady at Rs 630 crore compared to the year-ago period.
• The company declared a dividend of Rs 12 per equity share for the financial year 2023-24, including a special dividend of Rs 8.
• LINDEINDIA has generated a remarkable 1526.47% return over the past five years.

IPCA Laboratories Ltd

₹1,144.70/-

Ipca Labs Stock Drops Despite Higher Revenue Guidance

• Despite higher revenue guidance for FY25, Ipca Laboratories Ltd’s stock plunges by 7.78% to $1,152.15.
• The drop of 8.23% is attributed to brokerages slashing the target price due to poor Q4 performance.
• Management anticipates an 18% margin in FY25E, projected to increase to ~21% in FY27E.
• IPCALAB has yielded a solid 78.24% return over the past year.

RHI Magnesita India Ltd

₹714.20/-

RHI Magnesita India Reports Strong Q4 Results

• RHI Magnesita India Ltd reduces net losses in Q4FY24 to approximately ₹258 crore, marking a remarkable YoY improvement of 62%.
• Revenue from operations grows by 8% YoY to ₹943.3 crore in the final quarter of FY24.
• Despite a 3.97% decline in stock value, RHIM has provided an impressive 226.98% return over the past five years.

Bharat Rasayan Ltd

₹10,573.85/-

Bharat Rasayan Reports Strong Q4 Results

• Bharat Rasayan Ltd’s Q4FY24 net profit surges by 122% YoY to Rs. 67.1 crore, while revenues from operations see a slight 1.2% YoY increase to Rs. 309.6 crore.
• The company announces a final dividend of Rs. 1.5 per share on fully paid-up equity shares for FY23-24.
• Strong financial results and dividend declaration may bolster investor confidence in Bharat Rasayan Ltd.
• Despite a -7.04% return over the past year, BHARATRAS has potential for growth with positive quarterly performance.

Also read: Fashion Influencer Nancy Tyagi Makes History with Self-Stitched Outfit at Cannes Film Festival

Krystyna Pyszkova, Representing The Czech Republic, Crowned Miss World 2024!

Top 15 Incredibly Beautiful Women from Across the World

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.