The Indian equity market is likely to open lower today as SGX Nifty rose fell 242 points to 16,449. On Thursday, equity markets erased early gains during the fag-end of trade to end on a flat note amid profit-taking. Earlier, Sensex jumped 897.77 points or 1.61 per cent to 56,566.80. But it trimmed most of the gains and closed just 33.20 points or 0.06 per cent higher at 55,702.23. Nifty gained 5.05 points or 0.03 per cent to 16,682.65.
Tech Mahindra, Infosys, HCL Technologies, Tata Steel, Wipro, ITC, HDFC, TCS, Kotak Mahindra Bank and ICICI Bank were the top Sensex gainers, rising up to 4.07 per cent.
IndusInd Bank, Sun Pharma, Nestle, UltraTech Cement, Reliance Industries, PowerGrid, Bajaj Finserv and Titan were among top losers, falling up to 4.32 per cent.
Here are the stocks that are likely to remain in news today.
RIL: The firm will report its Q4 earnings today.
Dabur India: The FMCG frim reported a consolidated net profit of Rs 294.34 crore, declining 22 per cent, in the quarter ending 31 March, 2022. The company had posted a net profit of Rs 377.29 crore in the year-ago period. In terms of turnover, Dabur has now become a Rs 10,000 crore company, a milestone that very few homegrown FMCG firms have achieved. Its revenue from operation in FY22 touched Rs 10,888.68 crore.
TVS Motor: TVS Motor Company reported a Rs 275 crore net profit for the fourth quarter of 2021-22 as against Rs 289 crore recorded in the corresponding period of the previous year, registering 5 per cent year-on-year decline.
Future Enterprises: After receiving mandatory approvals from the government and key regulators, the sale of a 25 per cent share took place on Thursday, a regulatory filing by Future Enterprises Ltd (FEL) said. "Pursuant to receipt of the key approvals from governmental and regulatory authorities, the said transaction has been consummated on 5th May 2022. Pursuant to the consummation of the transaction, the Company has sold 25 per cent shares for a consideration of Rs 1,266.07 crore," it said.
Voltas: The air conditioning and engineering services company reported a 23.46 per cent fall in its consolidated net profit at Rs 182.71 crore in the fourth quarter ended March 2022. The Tata group firm had posted a consolidated net profit of Rs 238.72 crore in the January-March quarter last fiscal.
Wipro: The IT services giant announced its partnership with telecom equipment manufacturer HFCL to engineer 5G transport products that include Cell Site Router, DU (Distributed Unit) Aggregation Router, and CU (Centralized Unit) Aggregation Router.
Adani Transmission: The firm reported a decline of 7.6 per cent in its consolidated net profit to Rs 237 crore in the March quarter. The consolidated net profit of the company was Rs 256.55 crore in the quarter ended on March 2021, according to a company statement. Total income rose to Rs 3,165.35 crore in the quarter from Rs 2,875.60 crore in the year-ago period.
Marico: FMCG firm Marico reported a 13.21 percent increase in consolidated net profit to Rs 257 crore for the fourth quarter ended March 2022. The company had posted a net profit of Rs 227 crore in the year-ago period. Its revenue from operations rose 7.40 percent to Rs 2,161 crore during the quarter under review, against Rs 2,012 crore a year ago.
Adani Power: The company reported a multi-fold rise in consolidated profit after tax (PAT) at Rs 4,645 crore for the quarter ended 31 March, 2022. The Adani group subsidiary had reported a net profit of Rs 13 crore in year-ago period.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today