TOP 5 STOCKS TO WATCH OUT FOR

CRISIL:

● SEBI has approved CRISIL ESG Ratings & Analytics Ltd (CRISIL ESG Ratings), a wholly owned subsidiary of CRISIL Ratings Ltd (CRL), as a Category 1 provider of environmental, social and governance (ESG) ratings.

● MD & CEO, Amish Mehta said that the approval has come at an opportune time when ESG disclosures have been improving and there is increasing realisation in the financial markets on the need for independent ESG ratings. This will support decision-making for issuers and investors, and channel funds towards sustainable growth of the Indian economy.

INDIGO:

● IndiGo agreed to place an order for 30 Firm A350-900 aircraft, which will enable IndiGo to spread its wings further and expand its network. From the various Indian metros, IndiGo will be able to connect to the world. The aircraft will be powered by Rolls Royce’s Trent XWB engine. The exact configuration of the aircraft will be decided at a later stage, and the deliveries are expected to start from 2027.

Bajaj Finance:

● In the fourth quarter of fiscal 2024, Bajaj Finance demonstrated robust financial performance, meeting analysts’ expectations. The company’s standalone net profit surged by 20% YoY, reaching Rs 3,402 crore, which closely aligned with Bloomberg’s estimated figure of Rs 3,546 crore.

● Bajaj Finance witnessed a remarkable 29% YoY increase in NII, reaching Rs 7,340 crore while its total revenue from operations grew significantly by 31.3% YoY, amounting to Rs 12,760 crore for the quarter ending in March. Other income too experienced substantial growth, rising by 107% to Rs 3.94 crore.

● The pre-provisioning operating profit soared by 26% YoY, from Rs 4,633 crore to Rs 5,844 crore.

● In term of Assets Under Management, company’s AUM expanded by 35% YoY, reaching Rs 2.44 lakh crore, up from Rs 1.80 lakh crore.

● The company’s interest income also saw a healthy increase of 35% YoY, totaling Rs 11,201 crore.

● Lastly, Bajaj Finance declared a final dividend of Rs 36 per share for FY24.

Nestle:

● Nestle in a press statement said that The much-awaited NESPRESSO, the pioneer in premium coffee with its range of exclusive coffees will be launched in India by the end of 2024.

● It will be available in both original and professional systems, to serve domestic and professional consumers.

● The first NESPRESSO boutique is intended to be opened in Delhi, before expanding to other key cities.

● NESPRESSO will also be sold online through e-commerce platforms. This launch will bolsterNestle India’s premium coffee offerings.

KPI Green:

● In a remarkable performance, KPI Green Energy witnessed a substantial 36% YoY increase in consolidated net profit for the March quarter, reaching Rs 43.04 crore. This impressive growth was primarily driven by higher revenues. Notably, the company’s consolidated net profit for the entire fiscal year 2024 surged to Rs 161.65 crore, up from Rs 109.62 crore in the previous year.

● KPI Green Energy’s total revenue soared to Rs 292.96 crore during the quarter, compared to Rs 184.41 crore in the corresponding period last year.

● The board has proposed a final dividend of 2%, equivalent to Rs 0.20 per equity share.

● KPI Green Energy’s shares hitting the upper circuit limit of 5% at Rs 2,109.25 per share just before the results were announced.

The pre-provisioning operating profit soared by 26% YoY, from `4,633 crore to `5,844 crore