Vedanta, JSW Steel, PB Fintech, NTPC, Delhivery, BPCL, VRL Logistics and Cochin Shipyard among stocks in focus today

Dozens of companies will report their March quarter results on Monday. They included Shree Cements, BPCL, PB Fintech, Aditya Birla Fashion and Retail, SJVN, Finolex Industries, CESC and Sun Pharma Advanced Research Company to name a few. Besides, investors would react to a handful of quarterly results that came in post market hours of Friday. 

PB Fintech

JM Financial sees PB Fintech reporting a group level adjusted Ebitda breakeven for the March quarter later today. It sees losses at the company narrowing to Rs 57.40 crore in the quarter from Rs 87.60 crore in December and Rs 219.60 crore in the year-ago quarter. It sees revenue rising 40.3 per cent YoY to Rs 758.30 crore from Rs 540.30 crore YoY. Nuvama Institutional Equities sees adjusted loss at Rs 63 crore. It sees revenue surging 63 per cent YoY to Rs 882 crore.

JSW Steel

JSW Steel's March quarter results beat Street estimates on Ebitda front, led by higher volume, low raw material cost, in addition to reduced power and fuel (P&F) costs. That said, the stock trades at high valuations, leaving limited scope of upside ahead.  Post JSW Steel's quarterly results, a few analysts maintained their 'Reduce' rating on the stock.

Vedanta

Shares of Vedanta would be in focus on Monday as the company board considers a proposal of dividend payment later in the day. The Anil Agarwal company had on May 17 told stock exchanges that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, would be Tuesday, May 30, 2023. If declared, it would be the first interim dividend by Vedanta for FY24.

BPCL, Shree Cements

Garware Technical Fibres, Keystone Realtors, Indiabulls Housing Finance, Gujarat Alkalies, Fusion Micro Finance, HEG, Borosil, Sansera Engineering, JTEKT India and Camlin Fine Sciences will announce their quarterly results today. Investors may keenly track earnings of BPCL, Aditya Birla Fashion and Retail, Shree Cements, SJVN, Finolex Industries, CESC and Sun Pharma Advanced Research Company, among others. 

NTPC

The company has reported a 6.31 per cent fall in its net profit at Rs 4,871.55 crore for the March quarter compared with Rs 5,199.51 crore in the same quarter last year. Total income of the company jumped 18.61 per cent to Rs 44,745.74 crore from Rs 37,724.42 crore in the corresponding quarter last year.

Delhivery

The logistics firm reported widening of net loss at Rs 159 crore for the quarter ending March 31, 2023. It reported net loss of Rs 120 crore in the year-ago period. The firm's revenue from operations declined 10 per cent to Rs 1,860 crore in Q4FY23 against Rs 2,072 crore in Q4FY22. The company has agreed to invest in 10.94 per cent equity shares (34,46,374 equity shares) of Vinculum Solutions.

Aurobindo Pharma

The United States Food and Drug Administration (USFDA) has completed inspection Aurobindo Pharma’s Unit XIV, an API Non antibiotic Manufacturing facility situated at Paravada Industrial Area, Anakapalli District. Andhra Pradesh, from May 15 to May 19 2023. At the end of the inspection, the company was issued a 'Form 483' with four observations. The observations are procedural in nature.

VRL Logistics

The company reported over three-fold surge in net profit at Rs 193.18 crore for the March quarter compared with Rs 56.19 crore for the same quarter in the previous year. Total income of the company increased by 17.04% at Rs 702.88 crore for Q4FY23 as compared to Rs 600.55 crore for the corresponding quarter previous year.

Cochin Shipyard

The company reported an 83.33 per cent plunge in net profit at Rs 47.34 crore for the March quarter compared with Rs 284.07 crore in the same quarter last year. Total income of the company tanked 51.18 per cent to Rs 646.45 crore from Rs 1,324.23 crore YoY.

Power Grid Corporation of India

The company reported a 3.95 per cent rise in its consolidated net profit at Rs 4,320.43 crore for the March quarter compared with Rs 4,156.44 crore in the corresponding quarter last year. Total income of the company rose 13.46 per cent to  Rs 12,557.44 crore compared with Rs 11,067.94 crore in the same quarter last year.

Also read: JSW Steel shares may have limited upside potential as valuations factor in most positives