Exclusive Stocks in news: Tata Motors, Zomato, Indegene, Eicher Motors, JSW Steel, Lupin and JSPL

Stocks in news: Tata Motors, Zomato, Indegene, Eicher Motors, JSW Steel, Lupin and JSPL

Indian equity markets ended the session strongly in the green maintaining the positive bias of global and local points of view. Benchmark indices closed up on the news of rate cut, FIIs offloading and elections uncertainty. BSE Sensex gained 260. 30 points, or 0. 36 per cent of the students to settle at 72,664. 47. Here are the stocks that may remain under spotlight before the opening bell on Monday, May 11, 2024. 

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Tata Motors: Tata group car business posted consolidated net profit of Rs 17,407 crore for the quarter ended March 31, 2024, that was up by 222% from the previous year on account of the optimum utilisation of tax credit of Rs 8,159 crore and strong operating performance. After 13 months of operations, the company’s revenues totaled DIA6.5M. The revenue from the petroleum product dropped by 3 percent a year to Rs 1,19,986 crore for the quarter.

Zomato: The business has made it clear that it has no intention of paying $2 billion to acquire logistics aggregator Shiprocket.

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Eicher Motors: The producer of Enfield bikes, royal, has announced net profit of Rs 983 marks at standalone. (Supporting) 3 Core marketing budget for the Q3 of 2023-24 is 32 per cent higher when compared year-over-year growth, with operating numbers supporting this spike. The net income from operations increased by 9. On the other hand, the excess inventory piled up during the lean periods, which reduced subsequent demand and hindered recovery. This is why the company only managed a 4 per cent YoY decline to Rs. 4,192 crore for the quarter.

JSW Steel: The MC has released the crude steel production figures for April 2024 and the number as per the report is 21. 21 lakh metric tonnes out of the total 343 lakh metric tonnes, which was 0. Demand from these sectors grew by 4% YoY, as iron ore supplies from Vijayanagar were restricted due to environmental concerns from the iron ore pits situated in Karnataka. For the Indian operations, capacity utilization for the month was 88 percent in 2019.

Lupin: The pharmaceutical company re-launched Mirabegron extended-release (ER) tablets 25 mg in the United States after the US Court lifted the temporary restraining order and Astellas’ request for a preliminary injunction on Mirabegron ER tablets was denied.

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