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The Indian stock market is gearing up for a new week starting May 13, 2024. Several key factors will influence market movements, demanding close attention from both seasoned traders and those new to the game.
This week, the markets will be influenced by CPI inflation data, Q4 earnings, and global trends set to drive the stock markets.
Some stocks to watch on May 13 include:
- State Bank of India (SBI): The country’s largest lender, SBI, has reported an 18.18% rise in its consolidated net profit to Rs 21,384.15 crore for the March 2024 quarter (Q4 FY24).
- Tata Motors: Net profit soared over threefold in Q4, with its share price rising on Friday. Tata Motors has reported an over three-fold jump in its consolidated net profit to Rs 17,528.59 crore for the March 2024 quarter.
- Union Bank of India: State-owned Union Bank of India’s net profit jumped 19% YoY in Q4, offering potential buying opportunities.
- Piramal Pharma: Piramal Pharma’s net profit surged 102.1% YoY, with revenue also experiencing growth.
- JK Cement: JK Cement also reported robust performance in Q4, with net profit doubling to Rs 219.7 crore on a yearly basis.
- Bharat Earth Movers Limited (BEML): BEML has posted a strong performance in Q4, with net profit soaring 62.8% year-on-year (YoY) to Rs 256.8 crore.
- APL Apollo Tubes: APL Apollo Tubes has posted a 15.6% decline in its net profit to Rs 170.4 crore.
- India Tourism Development Corporation (ITDC): ITDC has posted a 68% YoY jump in its net profit to Rs 32.4 crore, despite a slight fall in revenue by 3.8% to Rs 147.8 crore.
- Vedanta: Vedanta has acquired 46.57% more stake in Japanese display major AvanStrate Inc for $78.3 million.
In addition to these stocks, investors should also keep an eye on the broader market trends, including the performance of key indices like the BSE Sensex and Nifty 50.
The upcoming week is likely to be volatile, with potential opportunities for both gains and losses. Investors should exercise caution and make informed decisions based on their risk tolerance and investment goals.