Indian Stock Market: Leading Picks to Consider for Investment on June 3, 2024 Adani Enterprises Ltd at Stock Market 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 at Stock Market 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 at Stock Market 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 at Stock Market 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 at Stock Market 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 at Stock Market 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 at Stock Market 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 at Stock Market Share 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 at Stock Market 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 at Stock Market 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 at Stock Market 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 at Stock Market 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.
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