IndiGo, NMDC, PB Fintech Among Top Stocks To Watch On Monday

A range of firms including IndiGo, NMDC, PB Fintech and Glenmark Pharma among others may see action from investors after reporting quarterly results and other corporate news.

Stock-specific triggers will take center stage following the fall in the Indian market indices for a third straight day on May 29. Despite weakness in frontline indices, several companies reported earnings and corporate updates that could influence trading activity in the coming session.

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IndiGo Reports Quarterly Loss

InterGlobe Aviation, which operates IndiGo, reported a net loss of ₹2,536.3 crore for the fourth quarter, compared with a net profit of ₹3,067.5 crore in the corresponding period last year.

The airline’s earnings were impacted by weaker operating performance and exceptional charges amounting to ₹250 crore during the quarter.

PB Fintech Sees Large Block Deal

PB Fintech witnessed a block transaction worth around ₹665 crore on Friday. The transaction involved the sale of shares by co-founders Yashish Dahiya and Alok Bansal to a group of domestic and international institutional investors.

Earnings To Keep NMDC, Glenmark In Focus

NMDC reported a 36% year-on-year rise in fourth-quarter net profit at ₹2,017.6 crore, supported by higher revenue during the period.

Glenmark Pharmaceuticals also posted a sharp improvement in profitability. The company’s net profit rose to ₹301.4 crore in the March quarter from ₹4.6 crore a year earlier, aided by stronger operational performance.

Infrastructure, Pharma Updates

PNC Infratech informed exchanges that it has secured an engineering, procurement and construction (EPC) contract worth ₹302.4 crore from the Airports Authority of India.

Lupin announced that it has received approval from the U.S. Food and Drug Administration (US FDA) for Sodium Sulfate, Magnesium Sulfate and Potassium Chloride tablets, expanding its product portfolio in the U.S. market.

Vedanta, Patanjali Foods Also In Spotlight

Vedanta Group said it has received its highest domestic credit rating in more than ten years after ICRA upgraded the long-term ratings of key group entities to AA+.

Patanjali Foods reported a 46% increase in net profit for the March quarter, driven by growth in its edible oil and FMCG businesses. The company, however, indicated that higher raw material and packaging costs affected margins during the period.

Inox Wind, Olectra Greentech Announce Results

Inox Wind reported a 51.1% decline in net profit to ₹91.3 crore for the fourth quarter. Revenue also fell 2.4% year-on-year to ₹1,244.2 crore. Olectra Greentech, on the other hand, posted a strong earnings performance. The company’s net profit increased to ₹56 crore in the March quarter from ₹21 crore in the corresponding period last year.

With earnings season nearing completion, investors are expected to track these company-specific developments closely as trading resumes for the new week.