Stocks to watch today: Shares of firms like Ashok Leyland, Hindustan Aeronautics, NTPC, PayTM, and others will be in focus in Thursday’s trade
The Dalal Street was in the tight grip of the bears on Thursday as the benchmark indices fell more than 2.6 per cent after a downtick in global counterparts amid growth concerns and inflation worries. The selling pressure was also seen in broader space as the Nifty Midcap 100 index fell 3 per cent and Smallcap 100 index tanked 2.7 per cent. The BSE Sensex plunged 1,416 points or 2.6 per cent to 52,792, while the Nifty50 declined 431 points or 2.65 per cent to 15,809.
Results Today
NTPC, One 97 Communications (Paytm), Amara Raja Batteries, Gati, HeidelbergCement India, Indiabulls Housing Finance, IDFC, Indigo Paints, Indian Railway Finance Corporation, JK Tyre and Industries, CE Info Systems, Metro Brands, Narayana Hrudayalaya, Nuvoco Vistas Corporation, Paras Defence and Space Technologies, Pfizer, SML Isuzu, Sobha, Thermax, and Zydus Lifesciences will report their March quarter earnings on May 20.
Equitas Small Finance Bank
Veteran banker P N Vasudevan has resigned as the managing director and chief executive officer of Equitas Small Finance Bank, the lender informed the stock exchanges. Vasudevan, in his resignation letter, said he wants to devote his time towards social welfare through his public charitable trust.
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HPCL
State-run oil refiner and marketer Hindustan Petroleum Corporation posted a 34 percent decline in consolidated net profit in the March quarter to Rs 2,019 crore from Rs 3,061 crore in the year-ago period due to rise in total cost. Revenue for the quarter stood at Rs 1.07 trillion, up 24.2 per cent from Rs 85,755 crore last year. Total cost rose 28 per cent to Rs 1.05 trillion from Rs 81,717 crore a year ago. Operating margin for the quarter contracted sharply to 1.57 per cent from 4.46 percent last year. Average gross refining margin during the year ended March 2022 was $7.19 per barrel as against $3.86 per bbl during the corresponding previous year.
Godrej Consumer Products
Godrej Consumer reported a 1 per cent fall in net profit for the March quarter to Rs 363 crore year-on-year as a slowdown in consumption and high commodity inflation weighed. Revenue rose 7 per cent from a year ago to Rs 2,920 crore. Total cost rose 12 per cent year-on-year to Rs 2,540 crore.
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Gland Pharma
Gland Pharma’s net profit rose 10 per cent to Rs 285.90 crore in the quarter ended March 2022 as against Rs 260.41 crore during the same quarter previous fiscal. Net sales rose 24.25 per cent to Rs 1,103.01 crore as against Rs 887.75 crore a year ago. EBITDA margin contracted sharply to 35 per cent from 40 per cent year-on-year.
Ashok Leyland
The company reported a 274 per cent YoY jump in net profit at Rs 901.4 crore for the fourth quarter of FY22. Total income stood at Rs 8,744.3 crore during the quarter, up 24.9 per cent against Rs 7,000.5 crore in the corresponding period of the preceding fiscal. Its truck market share for Q4 FY22 has improved to 30.6 per cent against 28.9 per cent in Q4 FY21, this is the highest market share seen in the last 11 quarters.
Biocon
Subsidiary Biocon Biologics, and Viatris Inc. announced that Abevmy (Bevacizumab) is now available in Canada. Abevmy, co-developed by Biocon Biologics and Viatris, is a biosimilar to Roche’s Avastin (Bevacizumab) and has been approved by Health Canada across four oncology indications.
Eros International
Its board approved raising Rs 405 crore by issuing 13.50 crore warrants at a price of Rs 30 a share.
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