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Stocks in news: Bharti Airtel, Mphasis, Cipla, Hero MotoCorp and more

Stocks in news: Bharti Airtel, Mphasis, Cipla, Hero MotoCorp, Punjab National Bank, Adani Green Energy and more

twitter-logoBusinessToday.In | May 17, 2021 | Updated 09:42 IST
Stocks in news: Larsen & Toubro, Mphasis Ltd, Punjab National Bank, Adani Green Energy, Hero MotoCorp, Adani Green Energy, Cipla, Bharti Airtel and more
Stocks in news: Larsen & Toubro, Mphasis Ltd, Punjab National Bank, Adani Green Energy, Hero MotoCorp, Adani Green Energy, Cipla, Bharti Airtel and more

Sensex and Nifty were likely to open lower today as Nifty futures on the Singapore Exchange fell 107 points, or 0.73 per cent, lower at 14,817. On Friday, benchmark indices closed flat today amid concerns over the economic impact of the second wave of COVID-19. While Sensex ended 41 points higher at 48,732, Nifty fell 18 points to 14,677.

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

Adani Green Energy: The Gautam Adani-led company is planning to buy Japan's SoftBank Group Corp's controlling stake in solar power producer SB Energy, after SoftBank's earlier proposed deal with Canada Pension Plan Investment Board was called off.

Cipla: The pharma major posted a 73% rise in consolidated net profit at  Rs 412 crore in Q4 on the back of robust sales across markets. The company is looking to expand its wide portfolio of covid-19 drugs over the next two months with the expected launch of Regeneron Pharmaceuticals Inc.'s antibody cocktail and the generic of baricitinib through voluntary licenses from Merck and Eli Lilly.

Bharti Airtel: The telco will report its March quarter earnings on Monday.

Hero MotoCorp: Two wheeler maker is looking to launch an electric model next year and mark its entry into the segment, a senior company official told PTI. Bullish on the electric vehicle vertical, the company is utilising its Jaipur (Rajasthan) and Stephanskirchen (Germany) based R&D set-ups to develop its own products.

Punjab National Bank: The lender has raised  Rs 1,800 crore by selling 53 crore shares on a private placement basis to investors like LIC and Societe Generale.

Larsen & Toubro: Engineering and construction giant Larsen & Toubro (L&T) reported a 11.3% rise in consolidated net profit at  Rs 3,820 crore for March quarter 2020-21. Income during the quarter under review increased to  Rs 49,116.16 crore, over Rs 44,905.76 crore in the year-ago period.

Mphasis Ltd: The IT services firm reported a 10.2% year-on-year decline in net profit to  Rs 316.9 crore in Q4. For FY21, Mphasis' net profit rose 2.7% to  Rs 1,216.8 crore. Its revenue from operations grew 7.5% to ?2,524.2 crore in the March quarter from  Rs 2,346.1 crore in the year-ago period driven by broad-based growth aided by Europe and Hi Tech vertical in addition to banking and capital markets.

IDBI Bank : The lender's board approved the appointment of Sunit Sarkar, ED (In-Situ) as internal auditor of IDBI Bank with effect from June 01, 2021 in place of M. V. Phadke, ED & Internal Auditor.

Kirloskar Industries: The firm said its offices will remain closed from May 16 till June 1 and all employees of the Company will manage work from home considering the threat posed by Covid-19.

Ramco Cements: The firm has commissioned a much needed oxygen plant at its factory in Ramasamy Raja Nagar in Virudhunagar district of South Tamil Nadu, for the welfare of common people.

Quick Heal Technologies: The firm reported a consolidated profit at Rs 39.73 crore in Q4 against Rs 7.99cr in Q4FY20. Revenue rose to Rs 105.3 cr from Rs 64.25 cr yoy.

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