Potential Decline in Indian Stock Market on May 9th Due to India-Pakistan Tensions. Britannia, Swiggy, Titan, and Kalyan Jewellers are among the key stocks to watch.
Stocks to Watch: The Indian stock market is expected to see a sharp decline today, primarily due to escalating geopolitical tensions following recent events between India and Pakistan. Analysts predict the impact of this will be visible on Friday, potentially causing a dip in the Sensex and Nifty 50. However, they also clarify that a fall to the lower circuit limits of these major indices is unlikely.
Top Stocks Today
Several stocks warrant close attention on Friday, May 9th, based on the companies' quarterly results. Some key companies and their results are as follows:
Britannia
Britannia Industries reported a consolidated net profit of ₹559.95 crore for the January-March quarter, a 4% increase compared to ₹538.28 crore in the same quarter last year. The company's total revenue also rose by 8.9% to ₹4,432.19 crore.
Pidilite Industries
The company's net profit increased by 41% to ₹428 crore in the fourth quarter. Operational revenue stood at ₹3,141.14 crore, compared to ₹2,901.85 crore in the same period last year.
Canara Bank
Canara Bank's net profit surged by 33% to ₹5,004 crore. While its net interest income showed a slight decline, the bank's overall income increased. The bank's share closed 2% higher at ₹95.38.
Zee Entertainment
Zee Entertainment Enterprises reported a net profit of ₹188.4 crore, a 14-fold increase. The company benefited from a 24.56% reduction in advertising expenses.
Bharat Forge
Bharat Forge's net profit declined by 12% to ₹345 crore, compared to ₹390 crore a year ago. The company also experienced a decrease in operational revenue.
Jindal Stainless
Jindal Stainless' net profit rose by 18% to ₹590 crore, up from ₹501 crore in the same quarter last year.
Kalyan Jewellers
Jewellery maker Kalyan Jewellers saw its net profit increase by 36.44% to ₹187.60 crore. Operational revenue grew by 36.60% to ₹6,181.53 crore.
Titan
Gems, jewellery, and watchmaker Titan's net profit rose by 12.9% to ₹871 crore. The company's revenue increased by 22.1% to ₹13,775 crore.
REC Ltd
Public sector company REC Ltd. saw its net profit increase by 5.66% to ₹4,309.98 crore. Its total income also increased, reaching ₹15,348.37 crore.
Keep an Eye on These Stocks
IndusInd Bank
Concerns remain regarding potential action against two IndusInd Bank officials due to alleged accounting irregularities. This issue may lead to potential controversy.
Brigade Enterprises
The company's acquisition of an 11-acre plot in Bengaluru for a commercial project could positively impact its future development.
