The Indian market is likely to open higher today as SGX Nifty rose 89 points to 16,265. The Indian market snapped its three-session losing streak on May 26 in a highly volatile session. Sensex rose 503 points to 54,252 and Nifty gained 144 points to 16,170. Tata Steel SBI, HDFC Bank and Axis Bank were among the top Sensex gainers, rising up to 5.27 percent. Sun Pharma, RIL, HUL, and L&T were the top Sensex losers, falling up to 1.16 percent.
Here's a look at stocks that are likely to remain in news today.
Hindalco Industries: The Aditya Birla Group metals subsidiary reported a 100 per cent rise in its consolidated net profit at record Rs 3,851 crore for the quarter ended 31 March, 2022. The company had reported a net profit of Rs 1,928 crore for the same quarter last fiscal. The company's revenue from operations rose 38 per cent to Rs 55,764 crore in the quarter under review as against Rs 40,507 crore a year ago.
Muthoot Finance: Consolidated net profit fell 2.3 per cent year-on-year to Rs 997 crore for the quarter ended March 2022. Consolidated revenues declined 2.7 percent to Rs 3,021 crore.
Page Industries: Profit after tax rose 65 percent year-on-year to Rs 190.5 crore in Q4. Revenues climbed 26.2 percent year-on-year to Rs 1,111 crore.
Berger Paints: The firm reported a 5.6 percent year on year jump in March quarter net profit at Rs 220.2 crore. Revenue rose eight percent to Rs 2,187.5 crore.
BPCL: The government on Thursday withdrew its offer to sell its entire 52.98 per cent stake in BPCL, saying that majority of bidders have expressed their inability to participate in the current privatisation process due to prevailing conditions in the global energy market.
Colgate-Palmolive India: FMCG major reported a nearly 3 per cent rise in net profit at Rs 323.57 crore for the fourth quarter ended March 2022. It had a 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 per cent 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.
ONGC: India's top oil and gas producer 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.
Zee Entertainment Enterprise: The firm 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. Its total income during the quarter under review was Rs 2,361.17 crore. It was at Rs 1,984.39 crore in the year-ago period.
Bharti Airtel: Moody's Investors Service has revised its issuer rating of Bharti Airtel to Baa3 Stable from Ba1 Positive. It has withdrawn the company's Ba1 corporate family rating. Moody's has also upgraded to Baa3 from Ba1 the senior unsecured debt rating on the bonds issued by Bharti as well as the backed senior unsecured notes issued by Bharti Airtel Int'l (Netherlands) B.V.
Hindware (Somany): Consolidated net profit jumped 81 percent year on year to Rs 40.28 crore in Q4 primarily aided by lower tax and decline in inventory costs. Revenue climbed 11.8 percent to Rs 685.6 crore.
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