You are here: Home » News-CM » Equities » Stock Alert
Business Standard

Auto stocks, RIL, IndusInd Bank in spotlight

Capital Market 

On a consolidated basis, Reliance Industries (RIL) reported 108.36% surge in net profit to Rs 13,227 crore on 9.59% increase in net sales to Rs 149,575 crore in Q4 March 2021 (Q4FY21) over Q4 March 2020 (Q4FY20).

EBITDA rose 1.9% quarter-on-quarter (QoQ) and it advanced 2.77% year-on-year (YoY) to Rs 26,602 crore in Q4FY21 over Q4FY20. The sequantial improvement was primarily due to improvement in O2C and retail businesses.

The company's board also declared a final dividend of Rs 7 per share for the financial year ended March 2021.

IndusInd Bank reported 190.2% surge in standalone net profit to Rs 875.95 crore on 0.45% increase in total income to Rs 9,199.48 crore in Q4 March 2021 (Q4FY21) over Q4 March 2020 (Q4FY20).

Yes Bank reported standalone net loss to Rs 3,787.75 crore in Q4 March 2021 (Q4FY21) as compared with net profit of Rs 2,628.61 crore in Q4 March 2020 (Q4FY20). Total income dropped 60.34% to Rs 4,805.30 crore.

The board of TCS at its meeting held on 12 April 2021, had appointed Samir Seksaria as chief financial officer. Prior to being appointed as CFO, he was heading the financial analytics, planning and business finance functions. Seksaria replaces V Ramakrishnan ('Ramki') who retiried from the services of the company effective 30 April 2021.

State Bank of India has reportedly reduced home loan interest rate to 6.70%. It said home loan interest rates are now starting from 6.70% for loans up to Rs 30 lakh and 6.95% for loans above Rs 30 lakh to Rs 75 lakh. The interest rate on home loans above Rs 75 lakh is 7.05%.

Shares of auto companies will be in focus as investors will react to the auto sales figures for the month of April. Maruti Suzuki India posted total sales of 159,691 units in April 2021. Total sales in the month include domestic sales of 137,151 units, sales to other OEMs 5,303 units and exports of 17,237 units. Since April 2020 had lockdown due to COVID19 and almost zero sales, a comparison with April 2020 doesn't have any meaning, Maruti Suzuki India said.

Tata Motors sales in domestic and international market stood at 41,858 units in April 2021. Due to zero sales during April 2020 because of the lockdown there is no comparable figures available. Total sales were 66,609 units in March 2021.

Mahindra & Mahindra (M&M ) announced that its overall auto sales (passenger vehicles+ commercial vehicles+ exports) for the month of April 2021 stood at 36,437 vehicles. The units sold in April this year is not comparable with April 2020, since no vehicles were sold last year in the domestic market due to COVID related lockdown, M&M said.

Escorts said that Escorts Agri Machinery Segment (EAM) in April 2021 sold 6,979 tractors registering a growth of 889.9% as against 705 tractors sold in April 2020.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, May 03 2021. 08:37 IST