Benchmark equity indices settled higher for the third consecutive session on Tuesday on the back of gains in index heavyweight Reliance Industries and positive inflation data.
The BSE Sensex rose by 328.48 points or 0.45 per cent to settle at 73,104.61. The NSE Nifty gained 113.80 points or 0.51 per cent to settle at 22,217.85. On the sectoral front, power, telecom, capital goods, services, energy and realty settled higher.
“The domestic market has sustained its recovery path from recent lows, aided by moderation in India’s CPI and favorable signals from its Asian peers. However, investors are cautious ahead of the upcoming U.S. CPI data, which is anticipated to show a slight increase from the previous month and could raise concerns about rate cut expectations. Volatility and range-bound trading are likely to persist in the near term, given the ongoing uncertainty surrounding the low turnout," said Vinod Nair, Head of Research at Geojit Financial Services.
Here are the key stocks to watch on May 15:
Cipla: The pharmaceutical major is likely to see a major block deal valued at Rs 2,637 crore on May 15. The deal involves the promoter family including Shirin Hamied, Samina Hamied, Rumana Hamied, and Okasa Pharma selling up to 2.53 per cent stake in the company through a block deal.
Bharti Airtel: The telecom operator posted a 31 per cent decline in consolidated net profit to Rs 2,072 crore in the March 2024 quarter compared to Rs 3,005.6 crore in the year-ago period. The consolidated revenue from operations increased 4.4 per cent to Rs 37,599.1 crore during the quarter compared to Rs 36,009 crore in the corresponding quarter of the previous fiscal.
Oberoi Realty: The company reported a 64 per cent YoY growth in net profit to Rs 788 crore in the March quarter compared to Rs 480.3 crore in the year-ago period. Revenue from operations surged 36.8 per cent to Rs 1,314.8 crore compared to Rs 961.4 crore in the corresponding quarter of the previous fiscal.
Colgate Palmolive India: The oral care products company reported a 20.1 per cent increase in profit after tax to Rs 379.8 crore in the March quarter as against Rs 316.2 crore in the year-ago quarter. The company's net sales in the reported quarter increased to Rs 1,480.7 crore from Rs 1,341.7 crore in the year-ago period.
Shree Cement: The cement manufacturer reported a 21 per cent YoY increase in profit after tax to Rs 662 crore compared to Rs 525.8 crore in the year-ago period. Revenue from operations rose around 6 per cent YoY to Rs 5,433 crore.
