Adani Power, Marico, Paytm, Coal India among stocks to watch out for today

Domestic equity markets were in a tight bear grip on Friday as the selling pressure on index heavyweights dragged the headline peers lower. Renewed banking concern in the US also weighed on the sentiments on Dalal Street. Investors were awaiting the US jobs data due later in the day. For the day, BSE Sensex plunged more 694.96 points, or 1.13 per cent, to settle at 61,054.29, while NSE's Nifty50 tumbled 186.80 points, or 1.02 per cent, to close at 18,069. 

Here’s a look at stocks that are likely to remain in news today.  

Adani Power 

Adani Group firm’s consolidated net profit after tax (PAT) climbed 12.9 per cent to Rs 5,242.48 crore as compared to Rs 4,645 crore for Q4 FY22. The consolidated total revenue for Q4 FY23 was Rs 10,795 crore as compared to Rs 13,308 crore in Q4 FY 2021-22. 

Marico  

The firm reported a 19 per cent increase in net profit for the quarter ended March 2023. Net profit climbed 18.67% to Rs 305 crore in the January-March quarter compared to Rs 257 crore profit in the corresponding period a year ago. In the December quarter, profit stood at Rs 333 crore, implying a fall of 8.40% on a quarter on quarter basis. 

Coal India  

Net profit declined 18 per cent to Rs 5,528 crore in Q4 of FY 2023 due to increased provisions towards wages, the state-run company said. However, its year-on-year growth jumped 62 per cent to Rs 28,125 crore in FY23 compared to Rs 17,378 crore in FY 2022. This was despite provisioning Rs 8,153 crore in the accounts in FY23 towards wage revision of the coal giant's non-executive manpower, the coal giant said in an exchange filing. 

Paytm 

The fintech giant’s consolidated net loss narrowed sharply to Rs 168.4 crore in the fourth quarter of FY23, compared to a loss of Rs 761.4 crore in Q4 of the previous year. The performance was aided by an increase in GMV, higher merchant subscription revenues, growth of loans disbursed, and full years’ UPI incentives reported during the quarter. 

Also Watch: Paytm share price jumps 5% after Q4 results, up 35% YTD; should you buy?

Olectra Greentech  

Olectra Greentech  posted a consolidated net profit of Rs 27 crore for the quarter ended March, up 52% over the previous year period. This was on a 39% rise in consolidated revenue for Q4FY23 at Rs 376 crore from Rs 271 crore in Q4FY22. 

Piramal Enterprises  

The firm slipped into a loss of 196 crore in the quarter ended March 2023 from a profit of 151 crore a year ago due to a 375-crore MTM loss it had to take for its equity investment in Shriram Finance. 

Alembic Pharma  

The firm reported a profit after tax of Rs 153 crore for the quarter ended March 2023 compared to Rs 22 crore in the March quarter of 2022. Revenue from operations fell to Rs 1406.45 crore in Q4 from Rs 1415.74 crore in the same quarter last year. 

Union Bank of India  

The lender reported a profit after tax of Rs 2,812 crore for the quarter ended March 2023 compared to Rs 1,557 crore in the March quarter of 2022.  

Gujarat Ambuja Exports  

The firm reported a profit after tax of Rs 69 crore for the quarter ended March 2023 compared to Rs 153 crore in the March quarter of 2022. Income rose to Rs 1429 crore in Q4 FY23 from Rs 1,255 crore in the same quarter last year.