Stocks to Watch: RIL, TVS Motor, CEAT, Adani Power, Wipro, Canara Bank

Shares of Reliance Industries, Canara Bank, Sundaram-Clayton, Tata Power Company, CSB Bank, Federal Bank will be in focus ahead of their Q4 results.

After ending flat on profit-booking in the previous session, the Sensex and Nifty are looking to start Friday's session with deep cuts as global markets tumble on fears of bigger rate hikes. Markets in US fell up to 5 per cent overnight after Bank of England hiked interest rates and raised its inflation forecast to 10 per cent. At 7:45 am, the SGX Nifty futures were quoting 16,420 levels, hinting at a gap-down start of over 250 points for the Nifty benchmark. 

Meanwhile, these are the stocks to watch out for in trade today: 

Earnings Watch: 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 results on Friday.

Tata Motors: The company expects that the penetration of electric vehicles (EVs) will account for 25-30 per cent of its small commercial vehicles (SCVs) by 2030. The availability of battery operated vehicles in the intra-city segment will make the transition possible. The company took the wraps off the Ace EV on Thursday. It will commence deliveries of the model from the September quarter as it seeks to tap the growing demand for sustainable last-mile delivery vehicles by e-commerce companies. Read more 

Telcos: Telecom service providers' gross revenue declined by 2.64 per cent to Rs 69,695 crore in December 2021 quarter, according to the latest data published by the telecom regulator Trai. The gross revenue of the telecom service providers (TSPs) was Rs 71,588 crore in the same period a year ago, the quarterly performance report showed. Read here 
 

Wipro: IT company Wipro and domestic telecom gear maker HFCL have entered into a partnership to jointly develop 5G product portfolio, mainly the routers required to connect mobile sites with the core network of telecom operators. The companies will collaborate on a portfolio of 5G products for the telecommunications sector, including 5G radio access network and 5G transport equipment, a joint statement said on Thursday. Read here 

Adani Power: Adani Power's consolidated net profit jumped to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore in the year-ago period, mainly on the back of higher revenues. Total revenue of the company rose to Rs 13,307.92 crore in the quarter ended on March 31, 2022 from Rs 6,902.01 crore in the same period a year ago, it said in a statement on Thursday. Read here 
 

Dabur India: Homegrown FMCG major on Thursday reported a 21.98 per cent decline in consolidated net profit at Rs 294.34 crore for the fourth quarter ended March 2022. The company had posted a net profit of Rs 377.29 crore in the January-March period a year ago, Dabur India said in a BSE filing. Read more 

Ceat: Ceat Ltd posted a decline of 83 per cent 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 increased 13 percent on year to Rs 2,592 crore. The company declared a dividend of Rs 3 per equity share for FY22.

TVS Motor:  TVS Motor Company reported a 5 per cent year-on-year decline in standalone profit after tax at Rs 275 crore as compared to a profit of Rs 289 crore. Revenues for the automobile company registered a YoY growth of 4 percent to Rs 5,530 crore as compared to Rs 5,322 crore registered during the same period a year ago.

Marico:Marico Ltd reported an increase of 13.2 per cent in its consolidated net profit to Rs 257 crore for the fourth quarter ended March 31, 2022. Its revenue from operations during January-March 2022 jumped 7 per cent to Rs 2,161 crore, compared with Rs 2012 crore in the year-ago period.

Firstsource Solutions: Firstsource Solutions net Sales at Rs 1,543.93 crore in March 2022 up 5.54% from Rs. 1,462.84 crore in March 2021. Quarterly net profit at Rs. 132.39 crore in March 2022 up 183.64% from Rs. 46.68 crore in March 2021.

Adani Power: Adani Power's consolidated net profit jumped multi-fold to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore in the year-ago period, mainly on the back of higher revenues. The total income of the company rose to Rs 13,307.92 crore in the quarter ended on March 31, 2022 from Rs 6,902.01 crore in the same period a year ago.

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 percent to all-time high of Rs 2247.58 crores compared to Rs 1611.56 crores in Q4FY21. The company recommended a dividend of Rs 10 per equity share of Rs 2 each for FY22.

Blue Dart Express: The express air and integrated transport company posted growth of 20.7 percent year on year in standalone profit after tax of Rs 135 crore for March quarter, aided by higher revenues and cost efficiency initiatives that improved margins. Revenue from operations jumped 21 percent on year to Rs 1,166 crore driven by volumes and better realisations. The company declared a total dividend of Rs 60 per share for FY21-22.

DCM Shriram: DCM Shriram declares 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.

Jindal Worldwide: It has acquired Mumbai-based electric vehicle start-up Earth Energy EV through its subsidiary Jindal Mobilitric. Jindal Mobilitric will set up a new manufacturing plant in Ahmedabad which will supplement the existing Earth Energy manufacturing facility in Maharashtra.

Phoenix Mills: The company has acquired balance 50 per cent stake in Classic Mall Development Co, an associate of the company, for Rs 936 crores.