Stocks in Focus Today:Today i.e. on May 2, 2024, some stocks (stocks in news) are ready to show action. Due to positive trigger, these shares may remain in focus (stock to watch) in the market today. If you are looking for better stocks in intraday then you can keep an eye on them (Stock in Focus). Today’s list includes Adani Wilmar, Adani Power, Jindal Stainless, Yes Bank, Maruti Suzuki, Tata Motors, Adani Energy, Adani Enterprises, Coal India, Orient Cement, TVS Motor, Ambuja Cement, Vedanta, Adani Ports, Ajanta Pharma, Blue Shares like Star, Ceat, Coforge, Dabur India, Federal Bank, JBM Auto, RailTel, Ramkrishna Forgings, South Indian Bank are included.
Adani Enterprises, Coal India
Today, on May 2, 2024, the quarterly results of Adani Enterprises and Coal India will be released. Apart from these, results of Adani Ports, Ajanta Pharma, Blue Star, Ceat, Coforge, Dabur India, Federal Bank, JBM Auto, RailTel, Ramkrishna Forgings, South Indian Bank and Ugro Capital will also come today.
Adani Wilmar
Adani Wilmar Limited’s profit in the fourth quarter (January-March) of the last financial year has increased by 67 percent to Rs 156.75 crore. Adani Wilmar is in the edible oil and FMCG business under the Fortune brand. The total income of the company fell to Rs 13,342.26 crore in the March quarter, which was Rs 14,185.68 crore in the same quarter last year. Talking about the entire financial year 2023-24, the profit decreased to Rs 147.99 crore, which was Rs 582.12 crore in the financial year 2023.
Adani Power
Adani Power’s profit declined by 47.78 percent to Rs 2737.24 crore in the fourth quarter of the last financial year (2023-24). The company’s profit was affected by rising expenses. The company’s income stood at Rs 13,881.52 crore in the March quarter, which was Rs 10,795.32 crore in the same quarter of the previous financial year. The company’s expenses stood at Rs 10,323.58 crore in the March quarter, which was Rs 9,897.60 crore in the March quarter of 2022-23.
Jindal Stainless
Jindal Stainless will invest Rs 5400 crore to increase its production capacity to 42 lakh tonnes annually. Company’s Managing Director Abhyudaya Jindal said that this investment will be made during the next 2 years. About 90 percent of the investment will come from internal sources. With this, the company’s metal melting capacity will increase by 40 percent to 42 lakh tonnes annually due to an investment of more than Rs 700 crore.
Yes Bank
Yes Bank has received 2 GST demand notices, in which a penalty of more than Rs 6.87 lakh has been imposed. Manipur and Punjab GST departments have imposed fines of over Rs 5.05 lakh and Rs 1.81 lakh, respectively. The demand for tax and interest is currently less than the physical limit applicable to the bank. The bank will appeal against these notices.
Maruti Suzuki
Maruti Suzuki India’s (MSI) total sales in the month of April increased by 4.7 percent to 1,68,089 units. The company had sold 1,60,529 vehicles in April 2023. Total sales of passenger vehicles in the domestic market stood at 1,37,952 units, compared to 1,37,320 units in the same period a year ago. According to MSI, its exports last month were 22,160 units, whereas in April last year it was 16,971 units.
Tata Motors
Tata Motors Limited has received a tax demand notice of around Rs 25 crore including penalty and interest for under-payment of tax and taking excess credit. The company said that on April 30, 2024, an order was passed by Sales Tax Officer Class II/AVTO Ward 204 (Zone 11), Delhi. The company received it on May 1, 2024. In this, a demand has been made under Section 73 of the CGST/SGST Act 2017 due to less payment of tax and more credit.
