Shriram Finance, Airtel, Vedanta, Sanofi India, DLF, Zomato: Key Stocks to Watch in Today’s Market

  • US-based Warburg Pincus has acquired a majority stake in Shriram Housing Finance Ltd (SHFL) for ₹4,630 crore, marking its largest deal in India.
  • Bharti Airtel is projected to report a Q4FY24 consolidated net profit of ₹2,201 crore, a 26.8% YoY decrease, according to analyst estimates.
  • Vedanta is considering raising funds through equity shares or other methods such as a further public offer (FPO), rights issue, etc.

Major developments in the Indian stock market, including Warburg Pincus’s acquisition of a majority stake in Shriram Housing Finance and Bharti Airtel’s projected Q4FY24 consolidated net profit.

Warburg Pincus Acquires Majority Stake in Shriram Housing Finance

The acquisition was made through its affiliate Mango Crest Investment Ltd from Shriram Finance Ltd (SFL) and other sellers. The deal is expected to be completed by February 7, 2025.

Bharti Airtel’s Projected Q4FY24 Consolidated Net Profit

The telecom company’s revenue is anticipated to rise by 7.9% YoY to ₹38,736 crore in Q4FY24, with operating profit margins expected to increase by 549 basis points to 31% YoY. Further, operating profit margins are predicted to rise by 57 basis points YoY to 52.4% in the January-to-March quarter. The company’s subscriber base is expected to grow by three million to reach 349 million in Q4FY24.

Vedanta’s Fundraising Plans

The company is considering raising funds through equity shares or other methods such as a further public offer (FPO), rights issue, etc. The decision is expected to be finalized in the upcoming board meeting scheduled for May 16.

Conclusion

These major developments in the Indian stock market highlight the dynamic nature of the industry. Investors and stakeholders should keep a close eye on these companies for potential investment opportunities and to understand market trends.

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