Stocks To Watch | BPCL, Coal India, Grasim Industries And Others In News Today

Quarterly Results on May 25:

BPCL, Coal India, Deepak Fertilizer, Apollo Hospitals Enterprises, HEG, NHPC, Easy MyTrip, Fortis Healthcare, GMM Pfaudler, InterGlobe Aviation, JaiCorp, Kolte Patil, Bata India, Nalco, PFC, Torrent Pharma, Whirlpool, MSTC.

Indian Hotels

Indian Hotels said that its board has reappointed Puneet Chhatwal as managing director and chief executive officer for a five-year term beginning November 6, 2022 and ending November 5, 2027. (both days inclusive).

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Future Retail

Future Retail Ltd told the stock exchanges that it will be unable to announce its March quarter earnings on May 30 due to a board structure imbalance resulting from repeated resignations by top executives. The corporation stated that it is taking the required steps to replace the vacancies left by such terminations or resignations. It will make the described results public as soon as feasible after the Board of Directors and the Audit Committee have been formed in accordance with the Act and the Listing Regulations and are statutorily capable of approving them.

Bank of India

In the current fiscal year, the Bank of India plans to raise Rs 2,500 crore through a follow-on offer or a qualified institutional placement. The lender stated that the government’s stake will be reduced from 81 percent to 75 percent.

Grasim Industries

For the March quarter (Q4FY22), Grasim Industries reported a consolidated net profit of Rs 2,777 crore, up 62 percent from the previous year. Revenue from operations increased 18 percent year on year to Rs 28,811 crore from Rs 24,402 crore the previous year. Over the next three years, the corporation expects to invest Rs 10,000 crore in the paints industry. In the fiscal year that ended in March this year, it spent Rs 2,437 crore on capital expenditure. Grasim alone invested Rs 579 crore in the paints business.

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Brookfield India REIT

The board of Brookfield India REIT will meet on May 27 to discuss fund raising. “The Board of Brookfield India Real Estate Trust will meet on May 27 to consider various fund raising options and approve the raising of funds and issue of units of Brookfield India Real Estate Trust, subject to applicable law, and, in connection therewith, issue of notice to Brookfield India Real Estate Trust unit holders for approval of such fund raise, as applicable,” the company said.

Ipca Lab

Tonira Exports Ltd and Ramdev Chemical Pvt Ltd, both completely owned subsidiaries of Ipca Laboratories, have agreed to merge with the company, subject to relevant permissions. The company had recorded a 19.3% drop in consolidated net profit to Rs 130.23 crore year over year. In the third quarter, revenue increased 15.6 percent year on year to Rs 1,289.10 crore.

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Metropolis Healthcare

In the March quarter, Metropolis Healthcare reported a 35% year-on-year reduction in net profit to Rs 40 crore. Revenue for the quarter increased 5% year on year to Rs 306 crore. According to a Bloomberg poll, the company is anticipated to make a profit of Rs 52.43 crore this quarter, with revenue of Rs 335 crore. The total cost increased by 20% year on year to Rs 255 crore. According to news sources, the company had planned to sell a large minority stake to earn more than $300 million and bring on a strategic partner.

SIS Ltd

SVM Services Singapore has executed a formal agreement with SIS Ltd to purchase an additional 49.99 percent share in Terminix SIS India Pvt Ltd for $100000. SIS and SVM Services (Singapore) Pte Ltd own 50.01 percent and 49.99 percent of Terminix, respectively.

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Minda Industries

Minda Industries Ltd reported a 3 percent increase in net profit in the March quarter, up from Rs 140 crore a year before. Revenue increased by 7.90% to Rs 2415.08 crore. The company’s board of directors approved a debt raise of Rs 1000 crore. Bonus shares of one additional share for every existing share were also approved.

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