Stocks to Watch: Hindalco, Muthoot Finance, Bharti Airtel, Berger Paints, Sun Pharma, HDFC 2022.
The Sensex and Nifty are aiming for a proper start on Friday this morning, following overnight resilience in U.S. marketplaces and firm Asian indices. The SGX Nifty futures were trading at 16,250 levels at 7:30 a.m., implying a 90-point rise for the Nifty at the open. In the meanwhile, here are five equities that will be on the minds of investors. There have been some stocks to keep an eye on like Muthoot Finance, Berger Paints, Sun Pharma, and Bharti Airtel.
JSW Steel, FSN E-Commerce Investments (Nykaa), Jubilant Pharmaceutical, GAIL, Glenmark Pharma, Godrej Manufacturing, and P.B. Fintech are in the companies whose results will be reviewed ahead of their Q4 reporting (Policy Bazaar).
For the first time, Paradeep Phosphorus, the country’s second-largest manufacturer of non-urea most of the artificial fertilizers and DAP (diammonium phosphate), will go public on the stock interchanges today. The price of the providing has been set at Rs 42.
The Aditya Birla group‘s largest metals company, Hindalco Industries, stated on Thursday that its overall net profit for the end of March 31 had tripled year-on-year (YoY) to Rs 3,851 crore, the best result for the time. According to Bloomberg consensus estimates, Q4 net profit was Rs 2,959 crore.
On Thursday, Zee Entertainment Enterprise announced a net profit of Rs 181.93 crore for the third period. The company accomplished a net profit of Rs 272.36 crore in the January-March quarter of the previous year.
Vedanta: In the quarter ended March 31, 2022, the metals and mining company committed 86.1 percent of its holdings in Hindustan Zinc, a major increase in pledged share by the promoter compared to the December quarter. Hindustan Zinc is 64.9 percent owned by Vedanta.
Piramal Enterprises: In the January-March quarter of FY22, the company posted a combined net profit of Rs 151 crore, compared to a loss of Rs 510 crore the year before. Additional provision of Rs 822 crore and debt reverse of Rs 215 crore were factored into the net profit.
HDFC: India’s largest mortgage lender, HDFC Ltd, announced that it had sold a 10% interest in HDFC Capital Advisors Limited (HCAL) to Abu Dhabi Investment Authority for the amount of Rs 184 crore. As a result, HCAL is no longer an entirely subsidiary of HDFC.
Bharti Airtel: On Thursday, Moody’s raised Bharti Airtel Ltd’s (Bharti) senior unsecured debt from “Ba1” to “Baa3,” citing the telco’s ongoing upgrading in the operational indicators and financial profile stabilization. Moody’s Investors Service has improved Bharti Airtel‘s issuer rating to Baa3 Steady from Ba1 Positive. The business family’s Ba1 grade has been revoked. The senior unsecured rating on Bharti’s notes and the Bharti Airtel Int’l (Netherlands) B.V.-issued supported senior unsecured notes has been raised to Baa3 from Ba1.
Bharat Dynamics: In the March quarter, the company’s net profit increased by 1.5 percent year on year to Rs 2,644 crore. The company’s revenue grew by 21.5 percent to Rs 13,811 crore. For the fiscal year ended March, the business has recommended a dividend payout of Rs 1 per share (face value of Rs 10 apiece).
Union Bank: The bank stated that it plans to raise the venture capital of not more than Rs 3,800 crores and with the AT 1 / Tier 2 bonds of not more than Rs 4,300 crore to attain capital funds of not more than Rs 8,100 crore.
AstraZeneca Pharma India: The company’s net profit in the March quarter increased by 2% to Rs 27.98 crore, compared to the same quarter the same year. Net revenue increased by 10.3% to Rs 232 crore. For the fiscal year 2021-22, the team has proposed a dividend payout of Rs 8 per share.
ONGC: India’s largest oil and gas producer stated on Thursday that it would spend Rs 31,000 crore over the next 3 years in researching the Indian sedimentary basin for remaining fuel that would help the country to achieve energy independence.
In the most recent quarter, Sun Pharma’s U.S. subsidiary, Taro Pharma, made a net profit of $27.4 million, which is against a deficit of $29.78 million the year before. Its net sales were $143.3 million, down 3.4 % year over year from $148.3 million.
Muthoot Finance‘s overall net profit declined quarter-on-quarter- on – quarter year on year to Rs 997 crore in the quarter ended March 2022. The company’s revenue fell by 2.7 percent to Rs 3,021 crore. Decreased payments and higher personnel costs contributed to the earnings decline, which was partially offset by lower financial institutions’ impairment.
Its profit after tax climbed by 65 percent year on year to Rs 190.5 crore in the quarter ending March 2022. To 17.1 percent, the net margin rose 400 basis year over year and 240 percent in sequence. Over the years, revenues increased by 26.2 percent to Rs 1,111 crore.
In the March quarter, Berger Paints India’s earnings climbed 5.6 percent year over year to Rs 220.2 crore, while revenue increased 8% to Rs 2,187.5 crore. The team of directors gives allows a plan to pay dividends of Rs 3.10 (310 percent) per unit in the fiscal year 2021-22.
The SGX Nifty climbed 89 to 16,265, indicating that the Indian market may open higher today. On May 26, the Indian market ended a three-session losing streak in a highly turbulent session. The Sensex increased by 503 to 54,252, while the Nifty increased by 144 to 16,170. The top Sensex gainers were Tata Steel, SBI, HDFC Bank, and Axis Bank, with gains of up to 5.27 percent. The top Sensex losers were Sun Pharma, RIL, HUL, and L&T, which fell up to 1.16 percent.
Hindalco Businesses: The Aditya Birla Group metals unit has calculated a 100 percent increase in the combination of net profit for the quarter ended March 31, 2022, to a record Rs 3,851 crore. The company reported a net profit of Rs 1,928 crore for the same quarter last fiscal year. The company’s revenue from operations rose 38 percent to Rs 55,764 crore in the quarter under review which was against Rs 40,507 crore a year ago.
Colgate-Palmolive India: FMCG major reported a nearly 3 percent rise in net profit at Rs 323.57 crore for the 4th quarter ending in March 2022. It posted a net profit of Rs 314.66 crore in the January-March quarter a year ago. The company’s revenue from operations rose 1.43 percent to Rs 1,293.35 crore during the quarter under review. In the year-ago period, the same stood at Rs 1,275.01 crore.
NMDC is a state-owned corporation. Higher expenditures were knocked down NMDC’s combined net profit, which decreased 36% to Rs 1,812.98 crore for the quarter ended March 31. During the January-March 2020-21 fiscal year, the company made a net profit of Rs 2,835.54 crore.
Tata Power Renewables: In Partur, Maharashtra, Tata Power Renewables completed a 100 megawatt (M.W.) plant for MSEDCL. Tata Power today has 3,620 MW of renewable kind of capacities in operation, with 2,688 MW of solar and 932 MW of air.