Top 10 stocks for today – 28th May 2024

28 May 2024 , 08:56 AM

Here are some of the stocks that may see significant price movement today.

Life Insurance Corporation of India: The insurance behemoth’s Q4FY24 Net Profit rose 4.5% to ₹13,781.6 Crore from ₹13,190.8 Crore. Net premium income rises 15.5% to ₹1,52,767.3 Crore from ₹1,32,223.2 Crore. Other income increased significantly to ₹14,164 Crore from ₹484.8 Crore. Net commission decreases 2.2% to ₹8,273 Crore from ₹8,460 Crore. LIC announces a final dividend of ₹6 per share for FY24.

NMDC: The company’s net profit falls 37.8% to ₹1,412.7 Crore versus ₹2,271.5 Crore in the previous corresponding period. Revenue climbs 10.9% to ₹6,489.3 Crore over ₹5,851.4 Crore in the same quarter of the previous year. Exceptional loss of ₹29.85 Crore versus exceptional gains of ₹1,237.3 Crore.

Concord Biotech: Shareholder Ontario Inc. intends to sell 3.4% of its Concord Biotech shares for ₹468.40 Crore. The share sale could have a minimum price of ₹1,320 per share. Following the acquisition, Ontario Inc. will retain a 2% ownership in the company, with a 90-day lock-in period before any sale of this residual stake.

Adani Energy Solutions: The company declared that its board has approved raising funds of up to ₹12,500 Crore through qualified institutional placement (QIP) or other permissible channels.

Timken India: According to sources, parent company Timken Singapore is trying to sell a 6.6% share in Timken India for ₹1,775 Crore. The share sale is likely to have a floor price of ₹3,550 per share, representing a 10.2% drop from Monday’s closing price.

Diamond Power Infrastructure: Monarch Infraparks and GSEC, the company’s promoters, will sell 12.86 lakh equity shares, or a 2.44% stake apiece, through an offer-for-sale on May 28 and 29. The floor price has been set at ₹855 per share.

Nazara Technologies: Plutus Wealth Management LLP bought an additional 48.84 lakh equity shares (6.38% of paid-up equity) in Nazara at an average price of ₹620.5 per share. Plutus owned a 6.63% stake in the company as of March 2024. In this transaction, promoter Mitter Infotech LLP was the seller.

Lumax Auto Technologies: Amara Partners’ Growth Fund I purchased 6.06 lakh equity shares (equal to 0.89% of the company’s paid-up equity) at an average price of ₹478 per share in open market transactions. Albula Investment Fund, a foreign portfolio investor, was the seller in this transaction.

ICICI Bank and Yes Bank: The Reserve Bank of India (RBI) has imposed a ₹1 Crore monetary penalty on ICICI Bank for failing to comply with RBI guidelines on Loans and Advances – Statutory and Other Restrictions. Yes Bank has been fined ₹91 lakh by the Reserve Bank of India for failing to follow customer service guidelines and operating internal/office accounts without authorization.

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