Stocks to watch today: Shares of firms like Reliance, Tata Motors, Adani Power, Tata Power, and others will be in focus in Friday’s trade
Sell-off in the US and Asian markets are expected to weigh on Indian equities at open. A 1.3 per cent dip in Singapore Exchange-traded Nifty50 futures to 16,470.5 as of 7:05 am on Friday, hinted at a lower opening for key Indian indices. The market witnessed a strong opening on May 5 after a day of crash but erased most of the gains in the last hour of trade to end flat with a positive bias, supported by technology, select metal, and auto stocks. However, the selling in select banks, FMCG and pharma names capped gains. The BSE Sensex rose 33 points to 55,702, while the Nifty50 fell from 16,950 levels to close with 5 points gains at 16,683.
Results Today
Reliance Industries, Canara Bank, Sundaram-Clayton, Tata Power Company, CSB Bank, Federal Bank, Great Eastern Shipping Company, Bajaj Consumer Care, Apollo Pipes, Apollo Tricoat Tubes, Greenpanel Industries, Grindwell Norton, Hariom Pipe Industries, Kokuyo Camlin, Shipping Corporation of India, Paisalo Digital, Paushak, Reliance Home Finance, Vesuvius India, and Vikas EcoTech will release their quarterly earnings on May 6.
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Blue Dart Express
The express air and integrated transportation company posted a growth of 20.7 percent YoY in its standalone profit after tax of Rs 135 crore for Q4FY22 as compared to a profit of Rs 89 crore during the same period last year. The growth in profit was aided by higher revenues and cost efficiency initiatives that improved margins. Revenue from operations for the quarter jumped 21 percent on year to Rs 1,166 crore as compared to Rs 966 crore in the year ago period. Growth in revenues was driven by volume growth and better realizations. The company declared a total dividend of Rs 60 per equity share for FY21-22.
Tata Motors
Tata Motors has announced its foray into the electric last-mile cargo segment with the Ace EV.
TVS Motor Company
The automobile company reported lower than expected numbers for the quarter ended March. Net profit fell 5 per cent year-on-year (YoY) to Rs 274.5 crore while revenue was up 4 percent at Rs 5,530.3 crore.
Mahindra and Mahindra
The Mahindra Group has initiated a restructuring to trifurcate its flagship automobiles business which contributes 55 per cent to the group revenue, said a news report. The exercise, which is understood to be in the early stages, will involve separating the electric vehicle, tractor and passenger vehicle businesses into three independent companies via a demerger process. Currently, these are housed under Mahindra & Mahindra as separate divisions, it added.
DCM Shriram
DCM Shriram declare a 73 percent increase in its net profit at Rs 401 crore for Q4FY22 as compared to Rs 232 crore during the same period last year. Its net revenue from operations grew 28 percent on year to Rs 2,796 crore as compared to Rs 2,191 crore last year driven by growth across its businesses of Chemicals, Vinyl, Fertilizers, Fenesta and Farm Solutions. Sugar revenues were down during the quarter. Higher realizations for the above businesses aided the growth in the profit for the quarter. The company declared a final dividend of 245 percent taking the total dividend for the year to 735 percent.
Ceat
Ceat posted a decline of 83 percent in its consolidated net profit for Q4FY22 to Rs 25.25 crore as compared to Rs 153 crore during the same period last year. The surge in cost of raw materials resulted in the decline in profits. The revenues however increased 13 percent on year to Rs 2,592 crore. For the full year period, the profit was lower by 84 percent to Rs 71 crore compared to Rs 432 crore in FY21. Revenues for FY22 increased 23 percent to Rs 9,363 crore. The company declared a dividend of Rs 3 per equity share for FY22.
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Tribhovandas Bhimji Zaveri
Profit after tax for the quarter declined 72 per cent to Rs 2.43 crore as compared to Rs 8.6 crore reported during the same period last year due to the impact of the pandemic and geo-political crisis on the overall demand. The revenues however improved 18 per cent on year to Rs 431 crore compared to Rs 366 crore during last year quarter. For FY22, profit has declined by 60 per cent to Rs 17 crore from Rs 43 crore in FY21. Full-year revenue increased 37 percent to Rs 1,844 crore. The company has declared a dividend of Re 1 per equity share for FY22.
Blue Star
Consolidated net profit for the quarter increased by 12 percent on year to Rs 76.27 crore compared to Rs 68.09 crore during the same period a year ago. Revenue from operations for the company jumped 39.5 per cent to all-time high of Rs 2,247.58 crores compared to Rs 1,611.56 crore in Q4FY21. Net Profit for the year was Rs 168.00 crores compared to Rs 100.66 crores in FY21, representing a growth of 66.9 per cent. Revenue from Operations of Rs 6,045.58 crores for the year grew 41.8 per cent compared to Rs 4,263.59 crore during FY21. The company recommended a dividend of Rs 10 per equity share of Rs 2 each for FY22.
Sona BLW Precision Forgings
Profit after tax for the quarter surged 76 per cent to Rs 105 crore as compared to Rs 60 crore reported during the same period last year due to lower employee cost and tax credit pertaining to previous years. The revenues however improved 2 per cent on year to Rs 550 crore compared to Rs 539 crore during last year quarter. For FY22, profit increased by 68 per cent to Rs 362 crore from Rs 215 crore in FY21. Full year revenue increased 36 per cent to Rs 2,130 crore. The company has declared a dividend of Re 0.77 per equity share for FY22.
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