Stocks to Watch: Adani Ports, Strides, Metropolis, RITES, Zee, Balrampur

Stocks to Watch Today: Sugar and FMCG stocks likely to be in focus as govt limits sugar exports and exempts customs duty on agri cess. Apollo Hospitals, Bata, Coal India and Nalco to report results.

Stocks to Watch Today: The BSE Sensex and the NSE Nifty are likely to start trade on Wednesday on a quiet note as overnight cues from the US markets were mixed. While Dow recouped most of the losses, Nasdaq ended near the lows of the day. As of 07:15 AM, the SGX Nifty futures quoted at 16,142 as against the spot Nifty close of 16,125 yesterday.

In the primary market, Aether Industries will be open for subscription for the second day today. The IPO in the price band of Rs 610 – 642 was subscribed up to 33 per cent at the end of Day 1 of the offer period. 

Meanwhile, these are the stocks that are likely to see some action in trades today.

Earnings Watch: A total of 223 companies will be announcing the March quarter results today, prominent among these are - AIA Engineering, Apollo Hospitals, Bata India, BPCL, Coal India, Deepak Fertilisers, Delta Corp, Easy Trip Planners, Fortis Healthcare, National Aluminium, NHPC, Power Finance Corporation, Religare Enterprises, Suzlon, Torrent Pharma, Voltamp Transformers and Whirlpool India.

Sugar Stocks: The government on Tuesday imposed restrictions on sugar exports from June 1, a move aimed at increasing availability of the commodity in the domestic market and curbing price rise.  However, it said that these restrictions would not be applicable on sugar being exported to the EU and the US under CXL and TRQ. READ MORE

Further, the government exempted customs duty and the agri cess on importing 2 MT of soybean and sunflower oil per year. 

Balrampur Chini: The company reported a 16.2 per cent growth in Q4FY22 net profit at Rs 359.34 crore when compared with Rs 309.27 crore in Q4FY21. Total income increased by 24.9 per cent to Rs 1,291.37 crore from Rs 1,033.78 crore.

Adani Ports: The company’s Q4 net profit fell 21.8 per cent to Rs 1,033.02 crore in the quarter ended March 2022 as against Rs 1,320.69 crore in the corresponding quarter a year ago. Total income was up 8.5 per cent at Rs 4,417.87 crore from Rs 4,072.42 crore.

Latent View Analytics: The company posted a 49.6 per cent surge in Q4 net profit at Rs 35.57 crore in the quarter ended March 2022 when compared to Rs 23.78 crore in the year ago period. Total income also jumped 49.3 per cent on YoY basis to Rs 125.36 crore.

NTPC: The state-owned company will see its fuel cost go up to Rs 7-8 per unit by importing coal against Rs 2 per unit by buying in the domestic market from Coal India. Senior officials said this would increase the final tariff of NTPC by 50-70 paise and it will be passed on to electricity consumers. READ MORE

Coal India: The company eyes 12 per cent growth in its production during the current financial year as it opens new mines to tackle the incremental demand for coal from the power sector. The firm said it has received environmental clearance for 20 proposals, which shall add an incremental capacity of 22 MT per year. READ MORE

Strides Pharma: The company’s EBITDA plunged 71.2 per cent to Rs 46.10 crore in Q4FY22 when compared with Rs 160.20 crore in Q4FY21. Total income was also down 4.6 per cent at Rs 869.90 crore from Rs 911.50 crore.

Metropolis Heathcare: The company’s net profit grew 2.5 times to Rs 63.11 crore in the quarter ended March 2022 when compared with Rs 24.86 crore in the quarter ended March 2021. Total income rose 22.8 per cent to Rs 262.48 crore from Rs 213.68 crore.

Future Group: Four listed firms of the Kishiore Biyani-led Future Group - Future Retail, Future Lifestyle Fashion, Future Supply Chain Solutions and Future Enterprises - expressed their inability to convene a board meeting before May 30 to approve their financial results for the quarter and year ended March 31 on account of vacant positions on their respective boards. READ MORE

Grasim: The Aditya Birla group company plans to invest Rs 10,000 crore in the paints business in the next three years in order to take on current market leader Asian Paints, and new entrants such as JSW. READ MORE

RITES: The company’s Q4 net profit slipped 3.5 per cent to Rs 129.88 crore in the quarter ended March 2022 as against Rs 134.56 crore in the same quarter a year ago. Total income, however, was up 20.9 per cent at Rs 764.69 crore from Rs 632.42 crore.

Tega Industries: The company reported a sharp 65.8 per cent fall in Q4 net profit at Rs 31.52 crore in the quarter ended March 2022 when compared with Rs 92.39 crore in the year ago period. Total income declined by 22.4 per cent YoY to Rs 168.97 crore.

Muthoot Finance: The NBFC plans to raise up to Rs 300 crore via bonds, the funds will be utilised primarily for lending activities of the company. The issue opens on May 25 and closes on June 17. READ MORE

Zee: The entertainment major signed a long-term global media broadcasting rights for UAE T20 league. The deal is estimated to be around Rs 800-900 crore for ten years, according to industry sources. The UAE T20 League will air exclusively on Zee's television channels and its over-the-top (OTT) platform ZEE5. READ MORE

Hindustan Motors: The company is planning a comeback and is in talks for a joint venture with a European auto company focused on the electric vehicle (EV) space. A MoU has been signed and due diligence is expected to start shortly and will take 2-3 months to conclude. READ MORE

Stocks in F&O ban: Indiabulls Housing Financeis the only stock in F&O ban period on Wednesday.