Stocks to watch: Tata Motors, ICICI Bank, Vedanta, Piramal Enterprises, Zomato
Tata Motors: The company reported a 222% surge in net profit to ₹17,407.2 crore in Q4FY24, driven by strong performance across all auto businesses. The company's total revenue rose 14.3% to ₹1.2 lakh crore. The board recommended a final dividend of ₹6 per ordinary share and ₹6.20 per ‘A’ ordinary share for FY24.
The company also plans to separate its vehicle financing subsidiaries and merge them with Tata Capital to streamline operations and reduce debt. The move will involve a share-swap arrangement, with Tata Sons offering shares of Tata Capital to Tata Motors. Eicher Motors: The company reported an 18.2% rise in consolidated net profit to ₹1,070.45 crore in Q4FY24.
The company’s total revenue increased 11.87% to ₹4,256.04 crore. The board recommended a final dividend of ₹51 per equity share for FY24. Wipro: Anis Chenchah, head of Asia Pacific, the Middle-East, and Africa at Wipro Ltd, has resigned.
His resignation comes amid challenging times for Wipro's APMEA business. Wipro replaced Chenchah with Vinay Firake, a Wipro veteran of 26 years. Adani Enterprises: The Gautam Adani-led company plans to invest ₹80,000 crore in FY25, with a significant portion going towards new energy businesses and airports.
The company also aims to produce 10 GW of solar modules and 3 GW of wind turbines. Adani Group has started commercial production of wafer and ingots for solar cells and modules, aiming to become India's first integrated renewable energy player by 2027-28. JK Cement: The company reported a consolidated net profit of ₹219.75 crore in Q4FY24, up 101% from ₹109.52 crore in the year-ago period.
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