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Stocks to Watch Today: The key benchmark indices are likely to start trade on a negative note as indicated by overseas markets. As of 07:15 AM, the SGX Nifty May futures quoted at 16,220 as against the spot Nifty close of 16,411 on Friday.
Primary Market Update
LIC IPO closes for subscription today. The IPO which was also open for subscription over the weekend received total applications of 5.9 million, highest-ever for a public offering in the domestic market. The policyholder quota was subscribed over 5 times, employee portion 3.8 times and retail individual investor quota 1.6 times. READ MORE
Prudent Corporate Advisory Services IPO to open for subscription on May 10 in the price band of Rs 595 – 630 per shares.
Meanwhile, following are the stocks that are likely to see some action in trades on Monday.
Campus Activewear: The stock will be making its debut on the stock exchanges today.
Earnings Watch: 3i Infotech, Aarti Drugs, BASF, Central Bank of India, GNFC, Godrej Agrovet, Infibeam Avenues, PVR, Suven Pharma, Trigyn Technologies, UPL and VST Tillers were some of the notable companies scheduled to announce Q4 results today.
Reliance Industries: The Mukesh Ambani-led firm reported a consolidated net profit of Rs 16,203 crore for the quarter ended March 31, 2022 (Q4 FY22), up 22.5 per cent when compared with Rs 13,227 crore reported in a year ago period. Total income surged 38.6 per cent YoY to Rs 2.07 trillion. READ MORE
Meanwhile, going ahead, analysts foresee a favourable outlook for Reliance Industries’ (RIL’s) key businesses, and growth triggers in the New Energy vertical are expected to keep the stock momentum and valuations of India’s most valuable company at elevated levels. The stock has been a stark outperformer, with gains of 29 per cent since August last year, compared with 4 per cent returns of the benchmark Sensex. READ ANALYSIS
Larsen & Toubro, L&T Infotech (LTI) and Mindtree: Larsen & Toubro on Friday announced the merger of its two listed IT services companies – L&T Infotech (LTI) and Mindtree. The merged entity, to be called LTIMindtree, will have a stronger potential to access large deals and compete with scale players, said top executives of L&T. READ MORE
ONGC: The state-owned oil producer has won 18 out of the 21 areas offered for finding and producing oil and gas in the sixth bid round under Open Acreage Licensing Policy, according to the upstream regulator DGH.
Tata Power: The company reported an over 31 per cent rise in consolidated net profit to Rs 632.37 crore in the March 2022 quarter as against Rs 481.21 crore in the year-ago quarter. The consolidated revenue surged 16 per cent YoY to Rs 12,085 crore.
Jet Airways: The Union home ministry has granted security clearance to Jet Airways that is planning to relaunch commercial flight operations in the next few months.
Future Enterprises: The debt-ridden Future Group firm Future Enterprises expects to raise around Rs 3,000 crore from selling its stake in the insurance business to pare debt, which may save the company from facing the rigour of the insolvency process, according to industry sources. READ MORE
Macrotech Developers: The real estate player will invest Rs 3,800 crore this fiscal on construction of its various ongoing and new projects as it has set a target to deliver 10,000 homes by next March, a top company official said to PTI.
BEML, Shipping Corporation of India (SCI): Ahead of the privatisation of SCI and BEML, the Centre is implementing changes in the scheme of demerger of non-core assets of the two public sector undertakings (PSUs). This could delay the strategic divestment timelines of the two PSUs. READ MORE
Tata Steel: The steel major’s Europe bet (Corus) pays off after 15 years and major cost takeout. In FY22, the company reported its highest ever consolidated EBITDA of Rs 63,830 crore and Europe contributed significantly with EBITDA of Rs 12,164 crore. READ MORE
Bajaj Consumer Care: The company posted 34.5 per cent decline in its consolidated net profit to Rs 35.82 crore in Q4FY22 when compared with Rs 54.67 crore in Q4FY21. Total income was down 12.2 per cent YoY at Rs 214.95 crore.
Equitas Holdings, Equitas Small Finance Bank: The Reserve Bank of India (RBI) on Friday approved the amalgamation scheme between Equitas Holdings and Equitas Small Finance Bank, subject to certain conditions. READ MORE
Happiest Minds Technologies: The company reported 44.5 per cent rise in net profit at Rs 52 crore for March quarter on a year-on-year (YoY) basis. Total revenue rose 38.8 per cent YoY to Rs 310 crore.
Canara Bank: The public sector lender posted a 64.9 per cent YoY rise in net profit at Rs 1,666.2 crore for the fourth quarter ended March 2022. The bank’s net interest income (NII) expanded by 24.8 per cent YoY to Rs 7,005 crore.
Navin Flourine International: The company reported a 35.2 per cent decline in Q4FY22 net profit at Rs 78.76 crore when compared with Rs 121.63 crore in Q4FY21. Total income, however, rose 20 per cent YoY to Rs 412.49 crore.
DCB Bank: The bank posted a 45.6 per cent jump in Q4 net profit at Rs 113.44 crore for the quarter ended March 2022 as against Rs 77.91 crore in the corresponding quarter a year ago. Total income was up 7 per cent at Rs 1,034.71 crore from Rs 967.04 crore.
