A slew of corporate developments and quarterly earnings results are set to steer investor sentiment in Tuesday’s trade. Here are the top stocks to watch today:
Paras Defence and Space Technologies
The company has signed a Memorandum of Understanding (MoU) with Israel-based HevenDrones to form a joint venture in India. The JV will focus on developing and producing logistics and cargo drones for both defence and civilian use. The move strengthens Paras Defence’s position in the expanding unmanned aerial systems segment.
Fortis Healthcare
Subsidiary Fortis Hospitals received a rectification order under the Income Tax Act, reducing a previously raised demand of ₹89.53 crore for AY 2022–23 to ₹Nil, offering financial relief to the healthcare company.
Reliance Industries (RIL), ONGC
Along with Shell, RIL and ONGC have completed the country’s first offshore decommissioning project. The Panna-Mukta and Tapti (PMT) JV partners successfully removed mid and south Tapti field facilities, marking a milestone in India’s energy sector.
IRCON International
The company has bagged an order worth ₹187 crore from Kerala State IT Infrastructure Ltd. This win strengthens IRCON’s project portfolio in the infrastructure and technology-enabled development space.
Cyient
The US-based subsidiary, Cyient Inc., has received a penalty order of $26,779.74 from the US Department of the Treasury under the Employer Shared Responsibility Payment (ESRP), adding a minor compliance-related liability.
Indian Energy Exchange (IEX)
IEX reported 10,584 MU electricity volume traded in April, a 26% YoY increase. Notably, the Real-Time Market volume rose 48%, while the average DAM price stood at ₹5.20/unit. The strong growth in power trade signals rising energy demand.
Glenmark Pharmaceuticals
Its innovation arm, Ichnos Glenmark Innovation, secured Fast Track designation from the US FDA for ISB 2001, an investigational trispecific antibody for relapsed/refractory multiple myeloma. The drug is currently in Phase 1 trials.
Senores Pharmaceuticals
The company’s US subsidiary has acquired the USFDA-approved ANDA for Topiramate HCl tablets from Wockhardt. The drug is used in the treatment of epilepsy and migraine, expanding Senores’ U.S. generics portfolio.
Q4 Earnings Highlights
Cigniti Technologies: Profit rose 15.1% QoQ to ₹73.2 crore; revenue up 2.7% to ₹530.3 crore.
Hind Rectifiers: Profit surged 95.3% YoY to ₹9.99 crore; revenue grew 22.3%. Board recommended ₹2/share dividend.
Prataap Snacks: Reported loss of ₹11.9 crore vs profit of ₹12.4 crore YoY; revenue grew 3.2%.
J&K Bank: Profit declined 8.5% YoY to ₹584.5 crore; NII up 13.3%. GNPA fell to 3.37%, NNPA to 0.79%. Dividend: ₹2.15/share.
Zee Media: Loss widened to ₹36.8 crore; revenue declined 13% YoY.
Bombay Dyeing: Profit plunged 82.6% to ₹11.5 crore; revenue down 5.7% YoY.
CAMS: Profit grew 10.2% to ₹114 crore; revenue rose 14.7%.
DCM Shriram: Profit jumped 51.9% to ₹178.9 crore; revenue up 19.9%. Final dividend: ₹3.40/share.
CCL Products: Profit soared 56.2% to ₹101.9 crore; revenue up 15%. Final dividend: ₹5/share.
Indian Hotels Company: Profit grew 25% YoY to ₹522.3 crore; revenue up 27.3%. EBITDA margin expanded to 35.3%. Dividend: ₹2.25/share.
Disclaimer: This news article is for informational purposes only and does not constitute investment advice. Readers are advised to consult a certified financial advisor before making any investment decisions. Stock market investments are subject to risks.