APSEZ, RIL, oil stocks at centrestage

Adani Ports and Special Economic Zone (APSEZ) reported 72% fall in consolidated profit after tax to Rs 361 crore on 5% fall in operating revenue to Rs 2921 crore in Q4 March 2020 over Q4 March 2019. In FY21, the company will reduce operating costs and capex will be curtailed to Rs 2000 crore. Ports fall under essential services and as such all ports are operating efficiently during this period of crises to ensure that supply chain of essential goods is not disrupted, the company said.

Shares of PSU oil marketing and exploration companies will be in focus after excise duty on petrol and diesel has been hiked by Rs 10 and Rs 13 respectively. This is the steepest such hike in excise duty. Retail fuel prices remain unchanged.

Reliance Industries (RIL) said that the company has elected to redeem, in whole, all outstanding US$200,000,000 5% Senior Notes Due 2035 along with interest on or around 5 June 2020.

Wipro has signed a memorandum of understanding with the Government of Maharashtra under which it will repurpose one of its information technology campuses in Hinjewadi, Pune to a 450-bed intermediary care COVID-19 hospital in four weeks and hand it over to the state government by May 30. The hospital will be converted back to an IT facility after a year.

Rallis India said that the company recorded consolidated revenue of Rs 346 crore in Q4 March 2020, a growth of 2% over revenue of Rs 340 crore in Q4 March 2019. Loss before tax (after exceptional items) was at Rs 3 crore, as against profit before tax (after exceptional items) of Rs 6 crore.

United Spirits said that on the basis of permissions received from the governmental authorities so far, the company has resumed operations at majority of its manufacturing facilities with reduced capacity. The company is expecting to receive few more permissions in the next few days.

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