Stocks to Watch: SBI, Cipla, Voda Idea, Gujarat Gas, Zensar, MGL, Welspun

Stocks to Watch Today: The primary market too is likely to be abuzz with activity with three IPOs namely - Delhivery, Prudent Corporate Advisory Services IPO and Venus Pipes IPO open for subscription.

Stocks to Watch Today: The key benchmark indices are likely to start trade on a subdued note amid mixed global cues. Overnight, the US markets ended on a mixed note with the S&P 500 and Nasdaq up, while Dow Jones down. Further, as of 07:20 AM, the SGX Nifty May futures quoted at 16,160 as against the spot Nifty close of 16,240 on Tuesday.

Primary Market Action

Delhivery IPO opens for subscription today. The company plans to raise up to Rs 5,235 crore from the share sale in the range of Rs 462 – 468. Here’s what brokerages have to say about the offering. READ MORE

Venus Pipes Rs 165 crore IPO also opens for subscription on Wednesday. Bids for the share sale will be accepted in the range of Rs 310 – 326.

Further, Prudent Corporate Advisory Services Rs 538.61 crore IPO was subscribed up to 36 per cent at the end of Day 1 of the offering. 

Meanwhile, following are the stocks that are likely to see some action in trades on Wednesday.

Earnings Watch: Adani Ports, Butterfly Gandhimathi, Indian Bank, JSW Ispat Special Products, MRPL, NCC, Petronet LNG, Punjab National Bank and SKF India were some of the notable companies scheduled to announce Q4 results on Wednesday.

BS Special: Q&A with Sandeep Barasia, Delhivery’s Executive Director

FMCG: According to data by Bizom, mid-single-digits to double-digit price rises are being seen in all essential foods because of the increase in input, logistics, and packaging costs. However, analysts feel the price hike may not dim the pain for the sector. READ ANALYSIS

SBI: The board of the largest state-run bank has approved long-term fundraising of $2 billion in single or multiple tranches for refinancing maturing liabilities and fresh lending in the current fiscal year. READ MORE

Further, the bank also hiked its select bulk deposits rates by 40-90 bps, with immediate effect.

Asian Paints: The paint major reported a negligible dip in Q4 net profit at Rs 850.4 crore in the March quarter of financial year 2021-22 when compared with Rs 852.1 crore in the year-ago period. Total revenue increased by 18.7 per cent YoY to Rs 7,892.7 crore. READ MORE 

Vodafone Idea: The telecom major’s net loss narrowed by 6.5 per cent to Rs 6,563 crore in Q4 FY2022 on a year-on-year (YoY) basis on the back of revenue growth. Gross revenue grew by 6.5 per cent to Rs 10,239 crore, boosted by 20 per cent tariff hike. READ MORE

Cipla: The Mumbai-based pharma company posted a 12.4 per cent dip in net profit for the fourth quarter of the fiscal 2021-22 to Rs 362 crore due to impact of impairments. The revenue for the quarter grew 14.2 percent YoY to Rs 5260 crore. READ MORE

Gujarat Gas: The company registered a 28 per cent growth in its consolidated net profit at Rs 444.39 crore for the fourth quarter ended March 31, 2022 on a year-on-year (YoY) basis. Total income grew by 36 per cent YoY to Rs 4,791.04 crore.

Kansai Nerolac Paints: The company reported a decline of 84.5 per cent in its consolidated net profit at Rs 19.17 crore for the fourth quarter ended March when compared with Rs 123.62 crore in the January-March quarter a year ago. Total income, however, was up 5.3 per cent YoY at Rs 1,536.60 crore.

Eros International: The company’s board is scheduled to meet on May 13 to consider a proposal to raise funds.

Zensar Technologies: The company posted 30.4 per cent jump in Q4FY22 net profit at Rs 105.60 crore when compared with Rs 81 crore in Q4FY21. Total income was up 34.8 per cent at Rs 516.60 crore from Rs 383.30 crore.

Mahanagar Gas (MGL): The company’s Q4 net profit declined 38 per cent to Rs 131.80 crore in the quarter ended March 2022 as against Rs 212.77 crore in the corresponding quarter a year ago. Total income, however, jumped 51 per cent to Rs 1,210.30 crore. 

Welspun India: The company’s reported a sharp 59.9 per cent drop in Q4 net profit at Rs 522 crore for the quarter ended March 2022 as against Rs 1,301 crore in the quarter ended March 2021. Total income, however, was up 3.4 per cent YoY at Rs 22,471 crore. 

Reliance Capital: The company’s Q4 net loss expanded to Rs 4,134 crore in the recently concluded March quarter as against a net loss of Rs 1,649 crore in the year ago quarter. Total income was down 8.3 per cent YoY at Rs 4,771 crore.