Stocks to watch today: Shares of firms like ata Steel, Britannia, Hero Moto, Titan, Adani Stocks, and others will be in focus in Wednesday’s trade
Nifty futures on the Singapore Exchange traded 89 points, or 0.52 per cent higher at 17,073.50, signaling that Dalal Street was headed for a positive start on Wednesday. In the previous session, markets traded lackluster and ended marginally lower amid mixed cues. Initially, weak global cues triggered a gap-down start however better than expected results from the HDFC coupled with recovery in the global indices trimmed losses as the day progressed. Consequently, the Nifty index ended at 17,069.10 levels; down by 0.2 per cent. A mixed trend was witnessed on the sectoral front wherein metal, oil & gas, FMCG and realty ended with gains whereas consumer durables, capital goods and IT closed lower. The broader market indices, Midcap and Smallcap, ended lower by 0.5 per cent and 0.9 per cent respectively.
Results Today
Kotak Mahindra Bank, Tata Consumer Products, ABB India, Adani Green Energy will be in focus. Others include CarTrade Tech, Adani Total Gas, Equitas Small Finance Bank, Havells India, Bombay Dyeing & Manufacturing Company, Deepak Nitrite, Laxmi Organic Industries, Mahindra EPC Irrigation, Satin Creditcare Network, SIS, Oracle Financial Services Software, Rain Industries, EIH, IIFL Wealth Management, Aptech, Cigniti Technologies, and MAS Financial Services.
Tata Steel
The country’s largest steelmaker posted a 37 per cent jump in consolidated net profit at Rs 9,835.12 crore for the quarter ended March 2022, mainly on account of higher income. The steel major had reported a net profit of Rs 7,161.91 crore in the year-ago quarter.
Hero MotoCorp
The country’s largest two-wheeler maker said its consolidated profit after tax (PAT) declined by 30 per cent to Rs 621 crore for the fourth quarter ended March 2022 on account of lower sales. It had reported a PAT of Rs 885 crore in the January-March quarter of 2020-21 fiscal.
Adani Enterprises
The flagship company of Adani Group reported a marginal 2 per cent decline in consolidated profit after tax (PAT) to Rs 325.76 crore for the quarter ended on March 31, 2022, on the back of higher expenses. The company had posted a consolidated PAT of Rs 332.53 crore in the year-ago period.
Britannia Industries
The FMCG major reported an increase of 4.96 per cent in consolidated net profit at Rs 377.95 crore for the fourth quarter ended March 2022, led by an increase in topline and volume growth. The company had posted a net profit of Rs 360.07 crore in the January-March quarter a year ago.
JSW Energy
The energy player posted an over eight-fold jump in consolidated net profit to an all-time high of Rs 864 crore in the quarter ended March, mainly on the back of higher revenues. The company had posted a consolidated net profit of Rs 107 crore in the year-ago period.
Adani Wilmar
The edible oil major reported a 26 per cent decline in consolidated net profit at Rs 234.29 crore for the quarter ended March on higher tax expenses. The company had posted a net profit of Rs 315 crore in the year-ago period.
Aurobindo Pharma
The drugmaker said its wholly-owned arm Eugia Pharma Specialties Ltd has received final approval from the US health regulator to manufacture and market its generic version of Bortezomib for injection used to treat certain types of cancer.
IDBI Bank
The LIC run lender reported a 35 per cent jump in profit after tax at Rs 691 crore for the quarter ended March on the back of lower provisioning, improvement in asset quality and better recoveries. The lender had posted a profit after tax (PAT) of Rs 512 crore in the year-ago period.
Hindustan Zinc
The Mining major said it has signed a memorandum of understanding with Swedish mining tools and technical solutions firm Sandvik AB to introduce the latter’s battery-powered loaders and trucks in its underground mines.
Network18 Media & Investments
The media firm reported a 2 per cent increase in its consolidated net profit at Rs 209.93 crore for the fourth quarter ended March 2022. The company had posted a net profit of Rs 205.80 crore during the same quarter a year ago.
RailTel Corporation of India
The state-owned telecom infrastructure provider has received a work order from Madhya Pradesh State Electronics Development Corporation. The company will act as a system integrator for the expansion of SDC and the establishment of a disaster recovery centre. The work order is worth Rs 97.64 crore.
Godrej Properties
Reports net profit of Rs 260 crore. The Mumbai-based real estate company posted a profit of Rs 260.4 crore for the quarter ended March against loss of Rs 191.6 crore in the same period last year, with revenue rising 208 per cent to Rs 1,331 crore. EBITDA stood strong at Rs 257.9 crore for the quarter against loss of Rs 154.2 crore in the year-ago period.
Titan Company
Net profit up seven percent. The jewellery-to-watch major clocked 7.2 percent year-on-year decline in standalone profit at Rs 491 crore in the quarter ended March 2022 with revenue rising two percent to Rs 7,276 crore amid partial lockdowns, volatility in gold prices and uncertainty in a fragile geo-political situation. At the operating level, EBITDA dropped 1.6 percent to Rs 782 crore and margin fell 40 basis points to 10.7 percent.
