Q4 Results: APL Apollo Tubes, Jaiprakash Associates, Hi-Tech Pipes, and Siyaram Silk Mills are among the 29 companies scheduled to report their Q4 results today. These companies will unveil their earnings for the fourth quarter of FY24 on May 11, with the market anticipating a reaction to their shares on Monday, May 13.
29 Businesses will report Q4 FY202 results today
APL Apollo Tubes, Advanced Enzyme Technologies, 3P Land Holdings, ATV Projects India, Banswara Syntex, Bridge Securities, CCL Products (India), DJ Mediaprint & Logistics, D-Link (India), Dharani Finance, Control Print, Dolphin Offshore Enterprises (India), Gayatri Bioorganics, Gold Coin Health Foods, Gujarat Containers, Hi-Tech Pipes, and India Tourism Development Corporation are set to announce their Q4 results today.
Additionally, Jaiprakash Associates, Meghmani Organics, Panchmahal Steel, Progrex Ventures, RAS Resorts & Apart Hotels, Shalimar Agencies, Scan Steels, Sheetal Cool Products, Siyaram Silk Mills, Savita Oil Technologies, TVS Srichakra, and Vishwaraj Sugar Industries are also part of the 29 companies scheduled to release their Q4FY24 earnings on May 11.
Stock Market Update
After five consecutive days of losses, the Indian stock market indices, Sensex and Nifty 50, rebounded and closed in positive territory on Friday. The Sensex surged by 260 points, or 0.36%, to reach 72,664.47, while the Nifty 50 ended the day higher by 98 points, or 0.44%, at 22,055.20, on May 10.
Vinod Nair, Head of Research at Geojit Financial Services, remarked, “Throughout the week, the Indian markets displayed a downward trend, indicating a trend where investors are choosing to sell during rallies. This trend is attributed to the domestic market’s premium valuation and concerns regarding the elections due to lower voter turnout. Despite Q4 domestic earnings generally meeting expectations, there is a noticeable moderation in the overall earnings landscape.”
Weaker US payroll data has raised expectations of possible rate cuts by the Fed on the global front. Additionally, the Bank of England’s decision to maintain the interest rate status quo, as widely anticipated, bolstered global investor sentiment.
We anticipate the current trend in the domestic markets to persist in the short term due to uncertainties surrounding the elections. In the upcoming week, with a flurry of data releases, investor focus will be on the India and US CPI data, Europe and Japan’s GDP reports, and the speech by the Fed chair. Moreover, the forthcoming batch of Q4 results will also influence market sentiment,” predicted Nair.
Also Read: Eicher Motors Q4 Results
