The fourth quarter results season is in full swing in India, with several major companies set to report their earnings for the three months that ended in March 2024. On May 4, Avenue Supermarts Ltd., Kotak Mahindra Bank Ltd., Mahindra and Mahindra Finance Ltd., and other prominent firms are scheduled to disclose their financial performance. This marks a pivotal moment for investors, analysts, and stakeholders who closely monitor these updates to gauge the state of the economy and individual industries.
Avenue Supermarts is anticipated to present a top line of Rs 12,553.1 crore and a bottom line of Rs 598.64 crore, as per analysts’ estimates. Likewise, Kotak Mahindra Bank is poised to reveal a net profit of Rs 3,303.7 crore in the same period. Strong loan growth is projected to drive a double-digit increase in net interest income for Kotak Mahindra Bank in Q4 FY24, despite potential challenges related to the cost of funds and margins. Alongside these findings, Birla Corp Ltd., Kansai Nerolac Paints Ltd., J&K Bank Ltd., and IDBI Bank Ltd. will also be announcing their earnings on the same day.
The stock market demonstrated significant fluctuations during the recent trading session, with the Sensex dropping by 732.96 points and the Nifty declining by 172.40 points on May 3. This downward movement saw the Nifty finishing below 22,500 due to extensive selling across all sectors except metals. Investors’ wealth eroded by ₹2.25 lakh crore on the same day, following concerns over premium valuations of local stocks and profit-taking activities.
Kotak Mahindra Bank has been a focus of attention, with the Reserve Bank of India restraining the bank from issuing new credit cards due to inefficiencies and non-compliance. Additionally, the unexpected resignation of senior leader KVS Manian raised questions about the bank’s talent pool, affecting investor confidence in the bank’s outlook.
In conclusion, the Q4 earnings announcements and the recent stock market movements reflect the ongoing dynamics within the Indian financial landscape. As stakeholders eagerly await the release of financial results, the coming days will shed light on the performance of major companies and the prevailing market sentiments.
