Stocks to Watch: GCPL, Hindalco, Gujarat Gas, Lupin, DCM Shriram and more
GCPL | Fast-moving consumer goods major reported a net loss of ₹1,893.2 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, GCPL posted a net profit of ₹452 crore. The company’s revenue increased 5.8% to ₹3,385.6 crore against ₹3,200 crore in the corresponding period of the preceding fiscal.Hindalco | Novelis’ profit increased by 6% to $166 million compared to the year-ago period. However, the profit for the entire year has declined by 9%. The company’s income has declined by 7% to $4.1 billion due to the decline in the average price of aluminium.Gujarat Gas | State-owned company reported an 11% year-on-year increase in net profit at ₹409.5 crore for the fourth quarter that ended March 31, 2024, due to a reduction in spot gas prices and an increase in volumes. In the corresponding quarter, Gujarat Gas Company posted a net profit of ₹369.22 crore.Lupin | Drug maker reported a 52.4% year-on-year jump in net profit at ₹359.4 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Lupin posted a net profit of ₹235.9 crore. The company’s revenue increased 12% to ₹4,960.7 crore as against ₹4,430 crore in the corresponding period of the preceding fiscal.DCM Shriram | Diversified agri firm reported a 36.9% year-on-year drop in net profit at ₹117.8 crore for the fourth quarter. In the corresponding quarter, DCM Shriram posted a net profit of ₹186.7 crore. The company’s revenue tanked 11.8% to ₹2,399.3 crore as against ₹2,720 crore in the corresponding period of the preceding fiscal.Muthoot Microfin | The microfinance arm of the Muthoot Pappachan Group reported a 27% year-on-year increase in net profit at ₹119.76 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Muthoot Microfin posted a net profit of ₹94.56 crore.HPCL | The company will hold a board meeting on May 9, 2024, to consider and approve the issue of bonus shares to the company’s shareholders. The record date for the bonus issue, if approved, is yet to be determined. This will be the third instance that HPCL will be issuing bonus shares to its shareholders.Tamilnad Mercantile Bank | Private sector lender announced a revision in its Marginal Cost of Funds Based Lending Rates (MCLR) effective from May 7, 2024. The adjustment entails an increase ranging from 10 to 15 basis points (bps) across various tenures, the lender said.
