The Indian market is likely to open higher today as SGX Nifty rose 152 points to 16,489. On Friday, the Indian market ended higher for the second straight session. Sensex climbed 632 points to 54,884 and Nifty gained 182 points higher at 16,352. NTPC, Bharti Airtel, PowerGrid, Tata Steel, and Reliance Industries were the top Sensex losers, falling up to 2.43 percent. Tech Mahindra, IndusInd Bank, Wipro, Bajaj Finance, Infosys, Bajaj Finserv, Larsen & Toubro, and HCL Technologies were the top Sensex gainers, rising up to 4.10 per cent.
Here's a look at stocks that are likely to remain in focus today.
LIC, Sun Pharma, IRCTC: These are among the key firms which will announce their Q4 earnings today.
Nykaa: FSN E-Commerce Ventures, the parent company of online beauty e-commerce platform Nykaa on Friday reported a 49 per cent decline in consolidated net profit at Rs 8.56 crore in the fourth quarter ended 31 March, 2022. The company had posted a net profit of Rs 16.8 crore in the year-ago period.
Adani Enterprises: The firm said it has signed a definitive agreement to acquire 50 per cent stake in General Aeronautics Private Limited, which provides commercial drone-based solutions for crop protection.
United Spirits: The Diageo-controlled liquor maker reported a 12.14 per cent decline in consolidated net profit at Rs 178.6 crore for the fourth quarter ended March as margins were impacted by rising inflation.The company had posted a net profit of Rs 203.3 crore in the year-ago period, according to a regulatory filing.
Glenmark Pharmaceuticals: Consolidated profit after tax declined 26 per cent to Rs 173 crore for the fourth quarter ended March 31, 2022. The company had reported a profit after tax (PAT) of Rs 234 crore in the January-March period of 2020-21 fiscal.
Ethos: The luxury and premium watch retailer in the country will make its market debut today. The company's Rs 472.29 crore IPO was open for subscription between May 18-20 as the company sold its shares in the range of Rs 836-878 apiece.
M&M: The homegrown auto major reported a 427 per cent jump in its standalone profit after tax (PAT) at Rs 1,292 crore, for the quarter ended March 31, 2022. The firm has recorded a standalone PAT (before exceptional items) of Rs 245 crore in the same quarter last year.
Venus Remedies: The pharma company Venus Remedies said it has registered a 9.22 per cent increase in annual sales in 2021-22 in comparison to sales in 2020-21. "Aided by concerted efforts to build on its export orders, supply chain, distribution network and product portfolio, the annual sales of Venus Remedies grew from Rs 548.12 crore in FY2020-21 to Rs 598.65 crore this fiscal (2021-22)," the company said.
Inox Wind: It reported widening of its consolidated net loss to Rs 255.76 crore for the March quarter, mainly due to lower revenues. The consolidated net loss of the company stood at Rs 105.87 crore in the quarter ended March 31, 2021, it said in a BSE filing.
ITC: The firm said it has acquired a 10.07 per cent stake in Blupin Technologies Pvt Ltd, the company behind direct-to-consumer (D2C) brand, Mylo. The FMCG major in April had announced the acquisition of a 10.07 per cent stake in Blupin Technologies Pvt Ltd, for up to Rs 39.34 crore.
ONGC: The state-owned firm reported a 31.5 percent jump in its March quarter net profit as it got the best ever price for crude oil it produces and sells. Standalone net profit of Rs 8,859.54 crore, or Rs 7.04 per share, in January-March compared with Rs 6,733.97 crore, or Rs 5.35 a share, in the same period a year back.
Hindustan Copper: The state-run firm reported a consolidated net profit of Rs 89 crore for the fourth quarter of the 2021-22 financial year as against a loss of Rs 37 crore in the year-ago period.
JSW Steel: The metal major reported a 20 per cent decline in its consolidated net profit to Rs 3,343 crore for the March 2022 quarter, dragged by higher expenses. The company had clocked Rs 4,191 crore net profit in January-March 2020-21,
India Cements: The firm reported a consolidated net loss of Rs 10.58 crore for the fourth quarter ended March 31, 2022. The company had posted a net profit of Rs 50.19 crore during the January-March quarter of 2020-21.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today