Equity benchmark indices settled on a flat note in a volatile session on Friday as investors booked profits after the Sensex and Nifty touched fresh lifetime highs in intra-day deals. The BSE Sensex was down 7.65 points or 0.01 per cent to settle at 75,410.39. The NSE Nifty fell 10.60 points or 0.05 per cent to close at 22,957.10. Sector-wise it was a mixed bag with buying seen in Oil & Gas, Banking, and Financials.
Markets witnessed a record-breaking rally for the second consecutive session ahead of the results of Lok Sabha polls on June 4.
“Markets are continuously making steady gains with Nifty achieving a historic mark of 23,000 zones just after a few days of BSE listed companies' Market cap crossing $5 trillion. Further, India saw a record rise in exports and employment at an 18-year high in May. Thus, easing in FII selling and healthy domestic macro data supported the positive sentiments in the market. Overall we expect the market to witness a gradual up-move and see some volatility next week as both election and earning season are nearing the end,” said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd.
Here are the key stocks to watch on May 27:
Divi’s Lab: The pharmaceutical major reported a 67 per cent increase in consolidated net profit to Rs 538 crore for the March quarter of FY24, up from Rs 321 crore in the year-ago period. The company’s revenue for the quarter grew 18 per cent YoY to Rs 2,303 crore from Rs 1,951 crore in the corresponding quarter of previous fiscal. In addition, EBITDA grew significantly to Rs 731 crore from Rs 473 crore in the same period a year ago.
NTPC: The state-run power company reported a consolidated net profit of Rs 6,490.05 crore for the March quarter of FY24, up 33 per cent compared to Rs 4,871 crore in the year-ago period. The profit growth was led by higher electricity generation and increased power demand. Revenue from operations grew 7.6 per cent to Rs 47,622.06 crore in the March quarter as against Rs 44,253.17 crore in the year-ago period.
Aurobindo Pharma: The pharma giant reported an 80 per cent growth in consolidated net profit to Rs 909 crore for the March quarter of FY24, compared to Rs 508 crore in the same period of previous fiscal. The company’s consolidated revenue surged 19 per cent to Rs 7,580 crore from Rs 6,473 crore in the year-ago period. EBITDA grew 68 per cent YoY to Rs 1,687 crore.
GAIL: The state-run gas utility has started the country’s largest green hydrogen (GH2) project based on the latest PEM (proton exchange membrane) technology at its Vijaipur complex in Madhya Pradesh. The 10MW plant, built with an investment of Rs 231 crore, marks a major step towards achieving the country's target of net-zero status by 2040.
RVNL: The railways construction company emerged as the lowest bidder for the Rs 187 crore metro stations project in Nagpur. The duration for the execution of the order is 30 months.
