Stocks to Watch: Reliance, Bajaj Finance, Wipro, HDFC Life, Tata Coffee

Stocks to Watch Today: The markets are likely to be volatile on Wednesday a day ahead of the monthly F&O expiry as global cues remain fragile. Overnight, the US markets fell steeply amid worries over tech earnings. As of 07:20 AM, the SGX Nifty April futures quoted at 17,030 as against the spot Nifty close of 17,201 on Tuesday.

Primary Market Action

Rainbow Children’s Medicare Rs 1,581 crore IPO opens for subscription today in the price band of Rs 516 – 542. Subscription for the IPO shall be open till April 29. Here’s what the analysts have to say. READ MORE

Campus Activewear IPO opened for subscription on Tuesday in the price band of Rs 278 – 292. The issue was subscribed 1.2 times, with bids for retail quota up to 1.9 times at the end of Day 1. The issue closes on April 28.

Earnings Watch: 5Paisa, Bajaj Auto, Chennai Petro, Hatsun Agro Products, HDFC AMC, Hindustan Unilever, Indian Energy Exchange, Indian Hotels, KPR Mill, Mahindra Lifespace Developers, Persistent Systems, Supreme Petrochem, Swaraj Engines and Trent are among the 20 companies scheduled to announce Q4 results on Wednesday.

Reliance Industries (RIL): The Mukesh Ambani-lef company and Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ) on Tuesday signed a shareholder agreement for a chemical project in Ruwais, Abu Dhabi. The development acquires significance as it will focus on chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production, which is used in a wide range of industrial applications. READ MORE

Bajaj Finance: The NBFC posted a 80 per cent YoY growth in net profit at Rs 2,420 crore for the fourth quarter ended March 2022 (Q4FY22) from Rs 1,347 crore a Q4FY21. The net interest income (NII) was up 30 per cent at Rs 6,068 crore from Rs 4,659 crore. READ MORE

Wipro: The Bengaluru-headquartered IT major announced the acquisition of Rizing Intermediate Holdings, a global SAP consulting firm, for a consideration of $540 million. The company said the acquisition will significantly expand its breadth of capabilities in helping businesses transform into intelligent enterprises. The deal is expected to be closed by June 30, 2022. READ MORE

AU Small Finance Bank: The bank’s Q4FY22 net profit soared 105 per cent to Rs 346 crore on improvement in interest margins. The net interest income rose to Rs 937 crore from Rs 656 crore in Q4FY21. Its Net Interest Margin (NIM) improved to 6.3 per cent from 5.7 per cent. READ MORE

HDFC Life: The private sector life insurer reported a 12.6 per cent YoY jump in net profit at Rs 357 crore for the January–March quarter (Q4FY22), from Rs 317 crore in the year ago period. It’s new business margins expanded 240 basis points YoY to 29.3 per cent in Q4FY22 from 26.9 per cent in Q4FY21. READ MORE

Jindal Stainless, Jindal Stainless (Hisar): The sharesholders and creditors of the two companies approved the proposed merger of the two steel makers into a single entity.

Mahindra Logistics: The company posted a 2.8 per cent decline in Q4FY22 net profit at Rs 12.23 crore when compared with Rs 12.58 crore in Q4FY21. Total income, however, grew by 10.2 per cent to Rs 1,078.37 crore from Rs 978.56 crore.

United Breweries: The company’s net profit surged 68.4 per cent to Rs 162.96 crore in the quarter ended March 2022 as against Rs 96.76 crore in the corresponding period a year ago. Total income, however, grew marginally to Rs 3,675.38 crore from Rs 3,628.50 crore.

D-Link India: The company posted a 25.2 per cent growth in Q4FY22 net profit at Rs 11.63 crore as against Rs 9.29 crore in Q4FY21. Total income also increased by 29 per cent to Rs 270.94 from Rs 209.96 crore.

Tata Coffee: The company’s Q4FY22 net profit declined by 33.2 per cent to Rs 26.83 crore when compared with Rs 40.19 crore in Q4FY21. Total income was down 1.6 per cent at Rs 245.40 crore from Rs 249.51 crore in the same period.

Schaeffler India: The company’s Q4 net profit jumped 48.4 per cent to Rs 207.12 crore for the quarter ended March 2022 when compared with Rs 139.54 crore in the corresponding quarter a year ago. Total income also rose 18.6 per cent to Rs 1,587.56 crore from Rs 1,338.70 crore.

International Travel House: The company reported a net loss of Rs 1.33 crore for the quarter ended March 2022 as against a net profit of Rs 2.20 crore in the corresponding quarter a year ago. Total income was down 14.5 per cent YoY to Rs 28 crore.

Jindal Hotels: The company narrowed its Q4 loss to Rs 0.50 crore in the quarter ended March 2022 as against a net loss of Rs 2.54 crore in Q4FY21. Total income was up 15 per cent at Rs 8.63 crore from Rs 7.50 crore.

NELCO: The company reported a 32.4 per cent decline in Q4 net profit at Rs 3.03 crore for the quarter ended March 2022 when compared with Rs 4.48 crore in the corresponding quarter a year ago. Total income, however, was up 11.5 per cent at Rs 73.23 crore from Rs 65.66 crore.