Stocks To Watch | Adani Ports, PNB, Wipro, Bajaj Finance, Cipla And Others In News Today

Results on May 11:

Adani Ports, Punjab National Bank, Indian Bank, Petronet LNG, Balaji Amines, Birla Corporation, HSIL, JSW Ispat Special Products, Kalyan Jewellers India, Kennametal India, KSB, Lakshmi Machine Works, Lloyds Steels Industries, NCC, Skipper, Prism Johnson, Relaxo Footwears, Sagar Cements, SKF India, Butterfly Gandhimathi Appliances, Century Enka, Cholamandalam Financial Holdings, and DIC India will release quarterly earnings on May 11.

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Wipro:

Crédit Agricole CIB, the corporate and investment bank part of Crédit Agricole Group, has extended its strategic relationship with the IT services provider to support its IT infrastructure transformation.

Cipla:

Lower operating income and an impairment loss from its investment in associate firm Avenue Therapeutics Inc. contributed to the pharma company’s consolidated profit falling 10% year on year to Rs 370.7 crore in the quarter ended March 2022. During the quarter, revenue increased 14.2% to Rs 5,260.33 crore, while EBITDA decreased 6% to Rs 750 crore.

Vodafone Idea:

Higher operating income and average revenue per user helped the telecom operator register a consolidated loss of Rs 6,563.1 crore in the quarter ended March 2022, down from Rs 7,230.9 crore the previous quarter. Revenue climbed by 5.4 percent quarter on quarter (QoQ) to Rs 10,239.50 crore, thanks to rate hikes in November 2021. EBITDA increased by 22% quarter-on-quarter to Rs 4,649 crore, and margin increased by 610 basis points to 45.4 percent, with average revenue per user increasing by Rs 9 to Rs 124.

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G R Infraprojects:

The National Highways Authority of India has signed a concession deal with GR Ujjain Badnawar Highway for a road project in Madhya Pradesh.

MTAR Technologies:

The acquisition of shares in Gee Pee Aerospace & Defence, an MSME, for Rs 8.82 crore has been approved by the company. Under the MSME category, this transaction is projected to bring a wide range of benefits, including enhanced opportunities to form offset partnerships with global original equipment manufacturers, as international partners will receive an offset credit of up to 1.5 times on Indian content.

Torrent Power:

The company reported a consolidated loss of Rs 487.4 crore in the March quarter, compared to a profit of Rs 398 crore in the same quarter last year, due to a Rs 1,300 crore impairment charge related to the DGEN Mega Power Project. Revenue from operations climbed by 21% year on year to Rs 3,744 crore, with EBITDA up 15% to Rs 1,088 crore.

Gulshan Polyols:

Meghna Pulp & Paper Mills has signed and completed a deal with the company. It will supply Meghna Pulp with GCC, GCC coating plant, vibrator separating machine, and standard accessories such as motor, conveyor, panel, and replacement parts for GCC and GCC coated machine.

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Max Financial Services:

Due to lower investment income, the company recorded consolidated sales of Rs 8,962 crore in the March quarter, which is 8% lower than the previous year. Consolidated revenues increased by 12% excluding investment income. The consolidated profit was Rs 144 crore, up from Rs 70 crore in the previous quarter.

Gujarat Gas:

Strong topline and operating income offset higher input costs, resulting in a 27.6% YoY increase in consolidated profit at Rs 444.4 crore in the quarter ended March 2022. During this time, revenue increased by 36.5 percent to Rs 4,773.4 crore.

Kansai Nerolac Paints:

The company’s consolidated profit for the quarter ended March 2022 was Rs 19.17 crore, down 84.5 percent from the previous year due to rising input prices and sluggish sales growth. The company’s revenue increased by 5.3 percent to Rs 1,536.60 crore.

Neuland Laboratories:

The company’s consolidated profit increased by 26% year over year to Rs 21.8 crore in the March quarter, owing to increasing operational income. During the time, EBITDA climbed by 52.3 percent to Rs 38.87 crore, while revenue increased by 4.6 percent to Rs 255.87 crore.

Welspun India:

Reduced operational revenue, lower other income, and lacklustre topline growth contributed to the company’s consolidated profit falling 62 percent year on year to Rs 51.25 crore in the quarter ended March. During the period, revenue climbed 4.3 percent to Rs 2,227 crore, while EBITDA jumped 29.3 percent to Rs 226.5 crore.

Electrosteel Castings:

The company’s consolidated profit increased 67.2 percent year over year to Rs 113 crore in the March quarter, thanks to strong topline and operating income growth. During the time, revenue jumped 28.2 percent to Rs 1,577 crore, while EBITDA increased 30.6 percent to Rs 217.33 crore.

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Bajaj Finance:

The second-largest non-banking financial firm in India has hiked deposit rates by up to ten basis points, beginning May 10 – the second such increase in the previous month. To encourage more depositors, the minimum deposit amount has been cut from 25,000 to 15,000 dollars. It boosted deposit rates by 60 basis points in late April.

State Bank of India:

The State Bank of India’s board of directors has approved an overseas bond issuance of up to $2 billion. The bonds might be in dollars or any other currency, but they’ll almost certainly be in numerous tranches. In January of last year, the lender raised $600 million from overseas investors at a record low rate.

ICICI Bank:

Merrill Lynch India Equities Fund Mauritius Ltd sold 4.80 lakh ICICI Bank shares valued 34 crore on the open market on Tuesday. Merrill Lynch sold 4,80,440 shares at an average price of 714.65 per, according to BSE block deal data. At the same price, BlackRock Global Funds India Fund purchased the same number of shares.
UltraTech Cement:

According to a media source, UltraTech Cement, part of the Aditya Birla Group, is poised to bid for Holcim’s India businesses – Ambuja Cements and ACC Ltd. – with a favourable legal opinion and regulatory precedent under the Competition Act. It is also willing to relinquish voluntary assets worth roughly 15 MTPA to meet market share requirements.

Vedanta:

The resource business is trying to spruce up its financial sheet by prospecting for gold and copper at four blocks purchased by listed parent company Vedanta, as well as raising silver output at its subsidiary Hindustan Zinc this year.

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Future Retail:

Future Retail Ltd shareholders and proxy advice firm InGovern Research Services have written to the Securities and Exchange Board of India (Sebi) urging prompt action to safeguard hundreds of thousands of Future shareholders and avoid the business being submitted to an insolvency court.

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