Stocks to Watch: HPCL, Ashok Leyland, Eros, Godrej Consumer, Gland Pharma

After cracking 2.6 per cent each the previous day, the Sensex and Nifty are heading for a positive start on Friday as Asian markets gain. At 7:45am, the SGX Nifty futures were quoting at 15,990, hinting at an opening gain of over 200 points for Nifty.

That said, these are top stocks that may see market action today:

Earnings Watch: NTPC, Amara Raja Batteries, IDFC Ltd, Indigo Paints, Lakshmi Mills Co Ltd, Mindteck India Ltd, Nuvoco Vistas Corp Ltd, Rane Madras Ltd, SML Isuzu Ltd will be in focus ahead of their Q4 results today.

Prudent Corporate Advisory: The company will list on bourses today. The issue price is fixed at Rs 630 a share. The issue had been subscribed 1.22 times.

Hindustan Petroleum Corporation: HPCL on Thursday reported a 40 per cent drop in net profit in the quarter ended March 31 as higher refining margins were wiped away by losses on auto fuel sales. Its net profit came at Rs 1,795.26 crore in January-March compared with Rs 3,017.96 crore a year back. 

Maruti Suzuki: The company Thursday said its new manufacturing facility in Haryana, the company's third in the state, would reach peak production capacity of 10 lakh units per annum in the next eight years entailing a total investment of Rs 18,000 crore. The new facility, which would come at a 800-acre site at IMT Kharkhoda in Sonipat district, will entail total investment of Rs 11,000 crore in the first phase with a production capacity of 2.5 lakh units per annum.

FMCG shares: Indonesia said on Thursday it will lift a ban on exports from Monday, likely helping India and other importers. India annually imports around 13-13.5 million tonne of edible oils, of which around 8-8.5 million tonnes (around 63 per cent) is palm oil. Of this, 8-8.5 million tonnes of palm oil, 45-50 per cent comes from Indonesia and the rest from neighboring Malaysia. Read here

Equitas Small Finance Bank: P N Vasudevan, managing director and chief executive officer of Equitas, is leaving the lender for a career in health and education. He has not set a date for his exit. Vasudevan said he would continue in his post till the succession and transition process is completed. The bank would form a search committee soon to identify his successor. Read here

Biocon: The company's subsidiary Biocon Biologics and Viatris launched Abevmy (bBevacizumab) 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.

Ashok Leyland: The company's net profit surged 274 per cent YoY in March quarter at Rs 901.4 crore. Total income stood at Rs 8,744.3 crore during the quarter, up 24.9 percent against Rs 7,000.5 crore in the corresponding period of the preceding fiscal. 

Gland Pharma: The company has reported a 10 per cent rise in net profit for March quarter to Rs 285.90 crore as against Rs 260.41 crore during the previous quarter ended March 2021. Net sales rose 24.25 percent to Rs 1103.01 crore as against Rs 887.75 crore a year ago. EBITDA margin contracted sharply to 35 percent from 40 percent on-year.

Eros: The company's board has approved fund raising of Rs 405 crore by issuing 13.50 crore warrants at Rs 30 a share.

Hindustan Aeronautics: HAL announced that it was granted the Type certification of first Indigenous Light Transport civil passenger aircraft. Hindustan 228-201 aircraft is the first Type certified fixed wing aircraft in India complying with latest FAR 23 certification requirement

Godrej Consumer: The company has reported a 1 per cent YoY fall in net profit for March quarter to Rs 363 crore as a slowdown in consumption and high commodity inflation weighed. Revenue rose 7 per cent to Rs 2920 crore.  Total cost rose 12 percent on-year to Rs 2,540 crore.

Zydus Lifesciences: The board will meet to consider March quarter earnings and buyback of shares. According to Bloomberg analysts estimates, net profit is expected at Rs 515.70 crore while revenue will be at Rs 3943 crore.

DishTV: The company will hold extraordinary general meeting on June 24.

Wipro: The company has launched Innovation Studio in Austin, Texas.

Welspun Speciality Solutions : The company has received an order of Nickel alloy grade pipes worth Rs 17 crores for domestic supplies.

Godrej Properties: The company along with its wholly owned subsidiary viz Godrej Projects Development Limited has acquired 100 per cent issued and paid-up share capital of Ashank Land & Building Pvt Ltd. 

CL Educate: The board has approved a proposal to buyback its own fully paid-up equity shares of face value of Rs.5 each from the equity shareholders of the company via open market at a price not more than Rs 170. 

Stocks in F&O ban: Delta Corp, GNFC, Indiabulls Housing Finance, and Punjab National Bank