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Stocks to watch: ITC, LIC, BPCL, Bharti Airtel, IOC, DLF, IGL, Zydus Life

Stocks to watch today: At 7:26 am, the SGX Nifty futures were quoting 16,223 levels, signaling 30-40 point loss for the 50-packed index.

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Stock to watch | Buzzing stocks | Market trends

Lovisha Darad  |  New Delhi 

stock markets

Stocks to watch today: Domestic equity are likely to start trade on a flat note as global sentiments remain mixed. At 7:26 am, the futures were quoting 16,223 levels, signaling 30-40 point loss for the 50-packed index.

Besides that, Wall Street closed on a positive note on Tuesday after strong retail sales in April brought cheer and eased worries around sluggish economic growth. US retail sales grew 0.9 per cent in April despite a 40-year high inflation.

Investors will also watch out how paint or oil stocks fare after oil price rose to over $115 barrel on Tuesday, highest in seven weeks, buoyed by European Union ban on Russian oil imports.

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

today: ITC, Lupin, Pidilite Industries, Indraprastha Gas, Indian Overseas Bank, Aditya Birla Fashion and Retail, LIC Housing Finance, Route Mobile, Manappuram Finance, Westlife Development, Ratnamani Metals, Granules, JK Lakshmi Cement, Barbeque Nation Hospitality, Arvind, Navneet Education, Teamlease Services are some of the companies scheduled to announce today.

Bharti Airtel: Telecom major reported a nearly three-fold rise in net profit at Rs 2,008 crore in the Q4FY22 led by gains from tariff hikes and exceptional income. In the same quarter last year Airtel posted a net profit of Rs 759 crore. Meanwhile, consolidated revenue for the quarter rose 22.3 per cent to Rs 31,500 crore on a year-on-year basis. The management said that a strong balance sheet and cashflows enables them to pay spectrum liabilities. READ HERE

LIC: LIC's first-day performance made for the second-worst debut among 11 global companies that listed this year after raising at least $1 billion through first-time share sales. Separately, shareholders of state-run Life Insurance Corp. of India will be counting on a bumper dividend if Prime Minister Narendra Modi’s government wants them to stay put. READ MORE

Telecom stocks in focus:
Digital Communication Commission cleared auction of 5G spectrum with a validity of 20 years, but decided not to auction part of the millimetre band between 27.5 GHz to 28.5 GHz for the time being. Satellite operators had wanted the band for their exclusive broadband operations. READ HERE

Indian Oil Corporation: IOC reported a 31.4 per cent drop in net profit at Rs 6,021.88 crore in the March quarter due to a margin squeeze in petrochemicals and drop in auto fuel sales. However, high oil prices boosted revenue from operations to Rs 2.06 trillion in Q4 from Rs 1.63 trillion in the year ago period. The board has also recommended issue of bonus shares in the ratio of 1:2. It also declared a final dividend of Rs 3.60 per equity share. READ HERE

BPCL: According to reports, the government is planning to sell up to a quarter of the state-run refiner after failing to attract suitors for the whole firm, as government's divestment programme moves slower than expected. The discussions began after all bidders withdrew from the process and sale prospects were hit due to inconsistent fuel prices. READ HERE

DLF: Realty major reported a 16 per cent decline in consolidated net profit at Rs 405.33 crore for the quarter ended March due to lower income, whereas, net profit stood at Rs 480.94 crore in the year-ago period. Sales bookings more than doubled to Rs 7,273 crore as housing demand continued to show structural upswing. Meanwhile, net debt narrowed by 46 per cent YoY to Rs 2,680 crore. READ HERE

Jet Airways: The airline operator has successfully operated all proving flights and now is now eyeing the grant of air operator certificate (AOC) by aviation regulator DGCA, its owner Jalan-Kalrock Consortium said. Not only did the airline conduct the second and the last set of two proving flights with 31 people, the carrier had also conducted the first set of three proving flights with 18 people earlier. It plans to restart commercial operations in July-September quarter this year. READ HERE

IRB Infrastructure Developers: The company reported a 79.04 per cent jump in its consolidated net profit at Rs 175 crore for the fourth quarter ended March 2022. Its total income during the January-March 2022 quarter rose to Rs 1,682.72 crore from Rs 1,650.40 crore in the year-ago period. The company remained confident of healthy toll collection numbers to be a clear indication of economic activity regaining pace across the country. READ HERE

Zydus Lifesciences: The Board of the company will meet on May 20 to consider share buyback, it said in an exchange filing on Tuesday.

Motilal Oswal Financial Services: The company, on Tuesday, announced buyback of its 14.55 lakh equity shares at a price of Rs 1,100 per unit for an aggregate amount not exceeding Rs 160 crore.

Stocks in F&O ban: GNFC, Punjab National Bank, Indiabulls Housing Finance are in F&O ban today.

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First Published: Wed, May 18 2022. 08:11 IST
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