Stocks to watch: Shares of firms like Coal India, Paytm, Dr Reddy’s, Britannia, Amara Raja, Adani Power, and others will be in focus on Friday’s trade.
Stocks To Watch: The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 18,148.50, up 24.5 points or 0.14% from the previous close.
Earnings today: Aarti Industries, Apar Industries, Apollo Pipes, Avadh Sugar and Energy, Balkrishna Industries, Birlasoft, Canara Bank, Craftsman Automation, Exide Industires, Pidilite, UPL, and VIP Industries are among the top companies due to report their Q4FY23 earnings on Monday, May 8.
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Aditya Birla Fashion, TCNS: Aditya Birla Fashion and Retail (ABFRL) has entered into a definitive agreement to acquire controlling stake (51 per cent) in TCNS Clothing for Rs 1,650 crore.
Dr Reddy’s Labs: Dr Reddy’s Laboratories Ltd, on Friday, announced the launch of Regadenoson injection, used as an agent in the imaging of heart muscle to check blood flow, in the US market.
PNC Infratech: The company has won an EPC project worth Rs 771.46 crore from Haryana Orbital Rail Corporation Limited.
Amara Raja Batteries: The company has bwegun work on ‘Amara Raja Giga Corridor’ that aims to produce Lithium Cell and Battery Packs with an ultimate capacity of up to 16GWh, and up to 5GWh, respectively
Paytm: The company, on Friday, posted a consolidated revenue of Rs 2,334 crore for the March quarter of FY23, up 51 per cent rise from Rs 1,540 crore posted in the March quarter of FY22. The company’s loss narrowed to Rs 168 crore from Rs 763 crore in the year-ago period.
Coal India: Coal India Ltd, the world’s largest coal miner, on Sunday reported 17.7 per cent drop in its March quarter net profit to Rs 5,527.62 crore, on higher provision made for wage revision of employees. Coal production rose 7 per cent to 224.16 million tonne in the quarter ended March 31.
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Bank of India: Public sector lender Bank of India’s (BoI) net profit more than doubled year-on-year (YoY) to Rs 1,350 crore for the quarter ended March 2023 (Q4FY23) on improvement in net interest income (NII). The board of directors declared a dividend of Rs 2.0 per share (Rs 10 each) for FY23, subject to shareholders’ approval, the bank informed BSE.
Adani Power: The Adani Group company has posted around 13 per cent jump in consolidated net profit at Rs 5,242 crore for March quarter 2022-23. Total income however fell to Rs 10,795 crore from Rs 13,307 crore in the year-ago quarter. Total expenses were higher at Rs 9,897 crore as against Rs 7,174 crore a year ago.
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Britannia: Britannia Industries’ net earnings in the January-March quarter of FY23 jumped 47.1 per cent to Rs 558.7 crore as its profit before interest, depreciation and tax (PBIDT) went up 42.7 per cent. This came on the back of softening input costs helping operating margin. The Nusli Wadia group firm’s revenue from operations in the quarter increased 13.3 per cent to Rs 4,023.2 crore amid significant distribution gains.
