Stocks in Focus: Jubilant Foodworks, Vodafone Idea, Powergrid, and Others

Market Overview: The GIFT Nifty futures, an early indicator of the Nifty50 index, were trading 0.24% lower by 54.50 points at 22,639.50, suggesting a likely negative start for the domestic benchmark indices on Thursday. On Wednesday, May 22, the S&P BSE Sensex fell by 267.75 points (0.36%) to close at 74,221.06, while the Nifty50 gained 68.75 points (0.31%) to settle at 22,597.80.

Key Stocks to Watch:

Jubilant Foodworks:
- Achievements: The company, which operates Domino’s Pizza outlets in India, has opened its 2000th store in the country.
- Financial Performance: Jubilant Foodworks reported a substantial seven-fold increase in net profit for Q4FY24, reaching Rs 207.52 crore, up from Rs 28.54 crore in Q4FY23.
Vodafone Idea:
- Upcoming Plans: The company is set to consider proposals on June 13 for issuing equity shares and convertible securities on a preferential basis to vendors.
Powergrid:
- New Projects: The company successfully commissioned the ‘Reliable Communication Scheme under Central Sector for Northern Region’ effective April 1.
- Financial Strategy: The Board of Directors has approved raising Rs 500 crore in debt from a consortium of banks.
Oil India:
- Strategic Agreement: The company has signed a new long-term agreement to transport additional petroleum products through its Numaligarh-Siliguri pipeline, following the commissioning of the Numaligarh Refinery Expansion project.
Nykaa:
- Financial Performance: The company’s net profit for the quarter ending March 31, 2024, surged by 297.8% year-on-year to Rs 9.07 crore from Rs 2.28 crore in the corresponding quarter last year.
Sun Pharma:
- Quarterly Results: The pharmaceutical giant reported a 33.8% increase in net profit year-on-year, reaching Rs 2,654.58 crore in the January-March quarter, compared to Rs 1,984.47 crore in the same period last year.

Additional Companies in Focus:

Transformers and Rectifiers: Approved a floor price of Rs 699.95 per equity share for raising funds via qualified institutional placement.
Ballapur Industries: Allotted 55 unsecured, unlisted non-convertible debentures series – III, aggregating up to Rs 55 crore on a private placement basis.
Artson Engineering Limited: Appointed Deepak Natarajan as an additional non-executive director effective June 10.
Cosmic CRF: Received orders worth Rs 1,286.67 lakhs and Rs 1,093.67 lakhs from two different wagon-manufacturing companies.
Sudarshan Chemical Industries: Launched two new effect pigments for plastics, coatings, and textiles.
Vivanta Industries: Plans to invest Rs 3 crore in plant and machinery in Gujarat and acquire land in Madagascar, Africa. Additionally, it will borrow Rs 20 crore via Pre-Shipment Credit in Foreign Currency.
Bank of Baroda: Kept its Marginal Cost of Funds Based Lending Rate unchanged.
H.G. Infra Engineering: A wholly-owned subsidiary incorporated H.G. Jaipur Solar Project Private Limited.
Rail Vikas Nigam Limited: Emerged as the lowest bidder from Central Railway for work in the Amla-Nagpur Section in the Nagpur division of Central Railway.
Borosil Renewables: Approved a draft for issuing fully paid-up equity shares by a rights issue aggregating Rs 450 crore.
Butterfly Gandhimathi Appliances: Received an order from West Bengal GST authorities demanding Rs 97,553 for availing excess ITC.