Key Stocks to Watch on May 8th: India-Pakistan Tensions and Quarterly Results Could Impact Market Performance.
Stocks to Watch: The Indian stock market may open under pressure on Thursday, May 8th. GIFT Nifty futures were trading down 45 points at 24,416 by 7:45 AM. This suggests a flat or slightly negative opening for the market today.
Tensions between India and Pakistan have escalated following 'Operation Sindur,' while the US Federal Reserve's decision to hold interest rates steady is also influencing investor sentiment.
Stocks to Keep an Eye On:
1. Dabur India
Dabur India's net profit for the January-March quarter fell 8% to ₹312.73 crore. The company's total revenue stood at ₹2,971.29 crore, while expenses reached ₹2,559.39 crore.
2. Voltas
Domestic appliance company Voltas reported a net profit of ₹236 crore for the same quarter, double that of the previous year. The company has also recommended a dividend of ₹7 per share.
3. PNB (Punjab National Bank)
PNB's net profit increased by 51.7% to ₹4,567 crore. The bank's net interest income also rose to ₹10,757 crore.
4. Coal India
State-owned Coal India reported a net profit of ₹9,593 crore, up 12.04%, although operating revenue fell 1% to ₹37,825 crore.
5. Tata Chemicals
The company reported a loss of ₹67 crore in the March quarter, compared to a loss of ₹818 crore in the previous year.
6. Blue Star
It reported a profit of ₹194 crore for the quarter, a 21% increase from the previous year.
7. Reliance Industries and Reliance Power
Reliance Jio added 2.174 million new subscribers in March. Reliance Power allotted shares worth ₹348.15 crore under a share conversion scheme.
8. NTPC
The company is set to raise funds by issuing ₹4,000 crore worth of debentures on May 9th.
Major Companies Announcing Q4 Results Today:
- Asian Paints
- Britannia
- Biocon
- Canara Bank
- Escorts Kubota
- IIFL Finance
- L&T
- Titan
- Union Bank of India
- Zee Entertainment
