Stocks to Watch: Hindalco, Muthoot Finance, Bharti Airtel, Sun Pharma, HDFC

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Earnings Watch: JSW Steel, FSN E-Commerce Ventures (Nykaa), Jubilant Pharma, GAIL, Glenmark Pharma, Godrej Industries, PB Fintech (Policy Bazaar) will be in focus ahead of their Q4 results.

Paradeep Phosphates: The country’s second largest manufacturer of non-urea fertilisers and DAP ((diammonium phosphate) will make its debut on the bourses today. Its issue price is fixed at Rs 42.

Hindalco Industries: The flagship metals company of the Aditya Birla group, said on Thursday its consolidated net profit doubled year-on-year (YoY) to Rs 3,851 crore for the quarter ending March 31 –the highest number for any quarter. Bloomberg consensus estimates had pegged Q4 net profit at Rs 2,959 crore for the quarter. Read more

Vedanta: The metals and mining major has pledged 86.1 per cent of its shareholding in Hindustan Zinc in the quarter ending March 31, 2022, marking a sharp increase in pledged shares by the promoter versus the December quarter. Vedanta has a 64.9 per cent stake in Hindustan Zinc. Read here

Zee Entertainment Enterprise: The company on Thursday reported a consolidated net profit of Rs 181.93 crore for the March quarter. The company had posted a net profit of Rs 272.36 crore in the January-March quarter a year ago. Read here

Piramal Enterprises: The company on Thursday reported a consolidated net profit of Rs 151 crore in the January-March quarter of FY22, compared to loss of Rs 510 crore in the year-ago period. The net profit was factored additional provisioning of Rs 822 crore and interest reversal of Rs 215 crore. Read more

HDFC: The country’s largest mortgage lender HDFC Ltd on Thursday said it has sold 10 per cent of its stake in HDFC Capital Advisors Ltd (HCAL) to Abu Dhabi Investment Authority for Rs 184 crore. With this, HCAL ceases to be a wholly-owned subsidiary of HDFC. Read here

Bharti Airtel: Ratings agency Moody’s on Thursday upgraded ratings of Bharti Airtel Ltd’s (Bharti) senior unsecured debt from “Ba1” to “Baa3” on basis of the telco’s continued strengthening of the company’s operational metrics and stabilisation of financial profile. Read here

ONGC: India’s top oil and gas producer ONGC on Thursday said it will invest Rs 31,000 crore over the next three years in exploring the Indian sedimentary basin for fuel reserves which could augment the nation’s production in its attempt to be self-reliant in the energy sector. Read more

Sun Pharma: The company’s US-based arm Taro Pharma has reported a net profit at $27.4 million in the recent quarter vs loss of $29.78 million a year-ago. Its net sales came 3.4 per cent lower at $143.3 million vs $148.3 million from a year-ago.

Muthoot Finance: The company’s consolidated net profit dipped 2.3 per cent year on year to Rs 997 crore for the quarter ended March 2022. Consolidated revenues declined 2.7 per cent to Rs 3,021 crore. The dip in profit is due to lower revenues and higher employee costs partially negated by lower impairment on financial instruments.

Page Industries: Its profit after tax rose 65 per cent year on year to Rs 190.5 crore for the quarter ended March 2022. Net margin at 17.1 percent was higher by 400 bps YoY and up 240 bps on a sequential basis. Revenues increased 26.2 per cent year on year to Rs 1,111 crore.

Berger Paints India: The company’s profit rose 5.6 per cent year on year in March quarter at Rs 220.2 crore and revenue was up eight per cent at Rs 2,187.5 crore. The board approved recommendation for payment of dividend of Rs 3.10 (310 percent) per share for the financial year 2021-22.

NMDC: State-owned NMDC on Thursday said its consolidated net profit fell 36 percent to Rs 1,812.98 crore for the quarter ended March 31, weighed down by higher expenses. The company had clocked Rs 2,835.54 crore net profit during the January-March quarter of 2020-21.

Tata Power: Tata Power Renewable commissioned 100 megawatt (MW) project for MSEDCL in Partur, Maharashtra. With this addition of 100 MW, the renewables capacity in operation for Tata Power now stands at 3,620 MW with 2,688 MW of solar and 932 MW of wind.

Bharat Dynamics: The company’s net profit rose 1.5 per cent YoY to Rs 2,644 crore for the March quarter. Revenues increased 21.5 per cent to Rs 13,811 crore. The company has recommended a final dividend of Rs 1 per share (face value of Rs 10 each) for the year ended March.

Union Bank: The bank said it aims to secure capital funds not exceeding Rs 8,100 crore by raising equity capital not more than Rs 3,800 crore and issuing AT 1 / Tier 2 bonds not exceeding Rs 4,300 crore.

AstraZeneca Pharma India: The company reported a two per cent rise in March quarter net profit at Rs 27.98 crore from the same quarter last year. Net revenue rose 10.3 per cent at Rs 232 crore. The board has recommended a final dividend of Rs 8 per share for the financial year 2021-22.

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First Published: Fri, May 27 2022. 08:07 IST