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Stocks in news: Apollo Tyres, Lupin, Asian Paints, Vedanta and more

Stocks to watch today: Apollo Tyres, Lupin, Asian Paints,Vedanta, Shriram City Union Finance, Tata Power, Infosys, Lupin, Polycab India and more

twitter-logoBusinessToday.In | May 14, 2021 | Updated 09:11 IST
Stocks in news: Apollo Tyres, Lupin, Asian Paints,Vedanta, Shriram City Union Finance, Tata Power, Infosys, Lupin, Polycab India and more
Stocks to watch today: Apollo Tyres, Lupin, Asian Paints,Vedanta, Shriram City Union Finance, Tata Power, Infosys, Lupin, Polycab India and more

Sensex and Nifty were likely to open higher today as Nifty futures on the Singapore Exchange rose 179 points, or 1.23 per cent to 14,686.50. On Wednesday, benchmark indices fell for the second consecutive session amid mixed global markets. While Sensex ended 471 points lower at 48,690, Nifty lost 154 points to 14,696.  Equity markets were closed on Thursday on account of Id-Ul-Fitr.

Here's a look at stocks which are likely to remain in news today.

Asian Paints: The firm reported a 81.13 per cent rise in its consolidated net profit to Rs 869.89 crore for the fourth quarter ended March 31, 2021, helped by volume growth in the domestic as well as in the international market.

Vedanta: The firm reported a consolidated profit of Rs 6,432 crore for March quarter 2020-21 on the back of various factors, including better volumes and lower cost of production. It had posted a loss (attributable to owners of Vedanta) of Rs 12,521 crore in the year-ago period.    

Shriram City Union Finance: The NBFC said it has bought over 4.44 crore shares of its housing finance subsidiary for Rs 200 crore. "The company had on May 12, 2021 subscribed 4,44,44,445 number of equity shares of face value of Rs 10 each priced at Rs 45 per share, aggregating to Rs 2,00,00,00,025 in Rights Issue offered by Shriram Housing Finance Limited (SHFL), subsidiary of the Company."

Apollo Tyres: The tyre-maker nearly four-fold rise in its consolidated net profit at Rs 289 crore in Q4 on the back of robust sales across domestic and international markets. The company had reported a consolidated net profit of Rs 78 crore in the January-March quarter of 2019-20.

Pidilite Industries: The adhesive maker reported a 96.43 per cent rise in consolidated net profit to Rs 307.44 crore on Q4 against a profit of Rs 156.51 crore in the January-March period a year ago.

Piramal Enterprises: The financial services firm reported narrowing of its consolidated net loss to Rs 510.39 crore in Q4 against a net loss of Rs 1,702.59 crore for the corresponding period of the previous fiscal year.

Indian Energy Exchange: The electric utility firm posted over 33 per cent rise in its consolidated net profit at Rs 60.85 crore in Q4, mainly on the back of higher revenues. The company's consolidated net profit stood at Rs 45.61 crore in the quarter ended on March 31, 2020.

Shipping Corporation of India: The firm reported a 23 per cent fall in its consolidated profit to Rs 85.76 crore in Q4 against consolidated profit of Rs 111 crore for the corresponding quarter in 2019-20.

Polycab India: The leading manufacturer of wires and cables reported a 32 per cent rise in net profit at Rs 283.2 crore in the March quarter on higher revenue. Consolidated revenue grew faster at 43 per cent to Rs 3,037.4 crore during the period.

Lupin: The drug maker reported an 18 per cent rise in its consolidated net profit at Rs 460 crore in Q4 led by robust sales across domestic and international markets. The Mumbai-based firm had reported a net profit of Rs 390 crore in the January-March quarter of 2019-20.

Infosys: Co-founder of the IT bluechip SD Shibulal on Wednesday bought shares worth Rs 100 crore through an open market transaction. Shibulal bought over 7.58 lakh shares at an average price of Rs 1,317.95 apiece, taking the total value of the transaction to Rs 100 crore.

Tata Power: The firm said its board on Wednesday approved a proposal to raise up to Rs 5,500 crore through issuance of non-convertible debentures. "Board has approved issuance in one or more tranches, of non- cumulative, redeemable, taxable, listed, rated securities in the form of Non-Convertible Debentures (NCDs) upto an aggregate amount not exceeding Rs 5,500 crore.," it said in a BSE filing.

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