GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a muted opening. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 52 points or 0.23% at 22,596 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Saturday, the NSE Nifty 50 inched up 36 points or 0.16% to settle at 22,502, while the BSE Sensex rose 89 points or 0.12% to close at 74,006.
Stocks to watch on May 21, 2024
Oil India
Oil India reported a surge of 17.8% in its consolidated net profit for the last quarter of FY24 at Rs 2,332.94 crore against Rs 1,979.74 crore in Q4FY23. On a sequential basis, however, the net profit declined by almost 11% from Rs 2,607.66. The company’s revenue from operations during the quarter under review rose by 16% and came to be at Rs 10,165.78 crore from Rs 8,764.27 in the corresponding period a year ago.
Apollo Pipes
Apollo Pipes released its fiscal fourth-quarter earnings with profit during the period at Rs 6.90 crore. The company recorded revenue from operations at Rs 255.60 crore for the quarter ended March 31, 2024 and the income stood at Rs 255.92 crore.
Lupin
US FDA issued form 483 with six observations after conducting an inspection at its Somerset, New Jersey manufacturing facility. The Pre-approval inspection was conducted between 7 May 2024 to 17 May 2024. The compnay will respond to the U.S. FDA within the stipulated timeframe.
RVNL
The company has received an order worth Rs 148 crore from South Eastern Railway for an electric traction system.
IRFC
The board of directors of IRFC approved 2024-25 borrowing up to Rs 50,000 crore via bonds from domestic and international markets.
IDFC Bank
The company’s shareholders approved the merger with IDFC First Bank.
Patel Engineering
The company has acquired a 10% share in Shail Tunneling & Infra for Rs 51,000.