Stocks to Watch on May 8: SBI, Titan, Swiggy, BSE, Britannia, Cochin Shipyard in Focus

The benchmark indexes of India remained flat in Thursday’s closing trade after losing early gains due to profit booking in the latter half of the day. Both the Sensex and Nifty 50 started their trade on a positive note and closed in the green zone except for late profit booking, driven by positive expectations regarding the easing of geopolitical relations between the USA and Iran.

In contrast, although there was no significant movement in benchmark stocks, the secondary market performed better during the day. The Nifty Midcap 100 Index advanced 1%, whereas the Nifty Smallcap 100 Index surged 0.8%.

SBI, Titan, Hyundai Motor India, Swiggy, MCX, Urban Company

The stocks of State Bank of India, Titan Company, Hyundai Motor India, Swiggy, Multi Commodity Exchange of India, and Urban Company will be carefully analyzed since all of them have planned to release their Q4 earnings today.

BSE

The stocks of BSE will stay active after the company announced its impressive quarterly results. The company witnessed an increase in its consolidated net profit by 61.3% for the quarter ended in March at ₹797.3 crore, up from ₹494.4 crore in the same quarter of the previous year.

Lenskart Solutions

The Lenskart Solutions company may now grab investors' attention after reports of a significant block deal emerged. Reports indicate that a block deal worth approximately ₹3,293.6 crore, comprising about 7.2 crore shares at a rate of ₹470 per share, took place.

Cochin Shipyard

The stock of Cochin Shipyard will be in the spotlight following the firm’s announcement regarding a substantial order bagged by its wholly-owned subsidiary, Udupi Cochin Shipyard, from Ocean Sparkle, which is an entity under the Adani Group. The order concerns the construction of four ASD tugs that will have a bollard pull capability of 70 tonnes.

Britannia Industries

Quarterly performance for the consumer goods giant Britannia Industries was strong. Its net profit jumped 21.6% to ₹679.68 crore in Q4 from ₹559.13 crore in the same quarter last year.

PNC Infratech

Infrastructure firm PNC Infratech revealed that it has won the L1 bid for an EPC project tendered by the Lucknow Development Authority. The bid quote for the said project totals ₹194.40 crore.

V-Mart Retail

V-Mart Retail may face selling pressures as the firm reported poor quarterly numbers. Consolidated net profit fell 39.1% year-over-year to ₹11.3 crore in Q4 FY23 versus ₹19 crore in the corresponding period of the previous financial year.

Pace Digitek

Pace Digitek said that it bagged a new project from Damodar Valley Corporation worth 250 MW/500 MWh BESS at Maithon, Jharkhand. This may be positive for the share price performance of Pace Digitek.

CCL Products India

CCL Products India, an instant coffee maker, reported a YoY increase in consolidated net profit by 12.4% to ₹115 crore in the fourth quarter against ₹102 crore in the corresponding quarter of the previous year.

Mahanagar Gas

Mahanagar Gas will also feature in the radar of investors due to its weak quarterly numbers. Consolidated net profit of the company fell by 35.4% sequentially to ₹130 crore in the fourth quarter from ₹201 crore in the previous quarter.