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Stocks to watch: Sun Pharma, ONGC, Tata Motors, Adani Wilmar, BBQ Nation

Stocks to watch today: From Sun Pharma to Tata Motors, here are top stocks to watch in Monday's trading session

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Lovisha Darad New Delhi

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Stocks to watch today: Tracking positive global cues, the SGX Nifty, on Monday quoted 18,711 levels, up over 150 points, as of 7:20 am.
 
Globally, the US equity futures rose this morning as President Joe Biden and top congressional leaders reached a tentative deal to raise the debt limit. Key indices - Dow Futures, NASDAQ Futures, and the S&P 500 Futures advanced up to 0.5 per cent.
 
The cheer spread to markets in Asia-Pacific too, with Nikkei 225, Topix, and the S&P 200 indices surging up to 2 per cent.
 
Meanwhile, back home, here are top stocks to watch in Monday's trade:
 
Sun Pharmaceuticals: The pharma giant has proposed to fully acquire Israel-based Taro Pharmaceutical Industries through a reverse triangular merger. Under the indicative proposal, post the acquisition, Taro will become a wholly-owned subsidiary of Sun Pharma and will be delisted from NYSE. READ MORE

ONGC: The oil and gas producer reported a net loss of Rs 247.70 crore in the January-March quarter (Q4FY23) as compared to a net profit of Rs 8,859.54 crore a year back. The management said that expenses related to disputed taxes of service tax or GST 'adversely' impacted the profitability of the company in Q4. READ MORE

Tata Motors: Moody's Investors Service upgraded its rating outlook on Tata Motors to positive from stable. The ratings agency said that the upgrade reflected hopes of substantial improvement in Tata Motors' credit profile over past few quarters would continue to sustain next 12-18 months. READ MORE

Adani Wilmar: The FMCG company has entered into the whole wheat category with its brand Fortune. With this pure whole wheat variants of Sharbati, Poorna 1544, Lokwan and MP Grade 1 will be available in Delhi, Maharashtra, Madhya Pradesh, Gujarat, Rajasthan under Fortune brand. 
 
Karnataka Bank: The private sector lender reported 171.5 per cent YoY jump in net profit to Rs 353.53 crore for Q4FY23. Net interest income, too, rose 27.1 per cent YoY to Rs 860.05 crore in Q4FY23 from Rs 656.49 crore in Q4FY22. 
 
Barbeque Nation: The quick service restaurant operator reported net loss of Rs 11.60 crore in Q4FY23, as against a net profit of Rs 0.48 crore, in the year-ago period. Revenue from operations, however, increased 11.64 per cent to Rs 280.23 crore in Q4FY23 from Rs 251 crore in the corresponding period of the previous fiscal.
 
Power Finance Corporation: The state-owned power firm posted over 44 per cent jump in its consolidated net profit to Rs 6,128.63 crore in Q4FY23, mainly on the back of higher revenues. Total income in the quarter rose to Rs 20,074.11 crore from Rs 18,873.55 crore in the same period a year ago.
 
Bajaj Electricals: Managing director and Chief Executive Officer Anuj Poddar said that the company will increase its focus on premium range in appliances and other segments, and expects revenue contribution from these upscale products to edge higher. READ MORE

Equitas Small Finance Bank: The company inked pact with IBM Consulting to design and build a digital banking platform aimed at providing a secure experience to customers. The management said that the pact aims to boost digital products offered by Equitas and its services.
 
Salasar Techno Engineering: The company saw consolidated net profit double to Rs 14.73 crore in Q4FY23, driven by higher income. Total income, meanwhile,  increased to Rs 269.32 crore from Rs 212.71 crore in the year-ago quarter, up 35 per cent.
 
Jain Irrigation: The company reported a more than three-fold jump in its consolidated net profit to Rs 976.9 crore during the March 2023 quarter and reduced debt by Rs 2,800 crore post-merger of its global arm with Rivulis.

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First Published: May 29 2023 | 7:40 AM IST

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