SBI, Grasim, Nykaa, Paytm, JK Tyre, IRCON, PI Industries, other stocks to track on Wednesday
Stocks To Track: Domestic equity benchmarks Nifty50 and Sensex finished yet another volatile session on Tuesday on a mixed note, as losses in financial and IT shares offset gains in metal and energy stocks. Here are some of the stocks likely to be in focus in Wednesday's trade.
Stocks To Track: At 8:01 am, Gift Nifty traded higher by 0.13 per cent or 29.6 points at 22,635.5, indicating a positive opening for the markets today. Domestic equity benchmarks Nifty50 and Sensex finished yet another choppy session on a mixed note on Tuesday, as buying interest in metal and energy shares was offset by selling pressure in financial and IT stocks. Here are a bunch of stocks that are likely to be in focus on May 22, including Grasim Industries, Paytm, Nykaa, BHEL, and JK Tyre:
160+ companies scheduled to report March-quarter results on May 22
More than 160 companies are scheduled to report their financial results for the quarter as well as the year ended March 31 on Wednesday, including Sun Pharma, Power Grid, Petronet LNG, Grasim Industries, Gland Pharma, Nykaa, Paytm, Dhanlaxmi Bank, Ashoka Buildcon, Metro Brands, Strides Pharma Science, Ramco Cements, Star Cement, Minda Corp, Indigo Paints, TeamLease Services, Torrent Power, and Jubilant FoodWorks.
JK Tyre Q4 PAT jumps 54%
JK Tyre & Industries has registered a 54 per cent year-on-year increase in its consolidated net profit to Rs 172 crore for the January-March period on the back of higher sales. Its quarterly income grew about 1.9 per cent to Rs 3,714 crore.
Dr Reddy's unit signs deal with global biotech firm Alvotech
A subsidiary of Dr Reddy's Laboratories has signed a licence and supply agreement with global biotech company Alvotech for the commercialisation of AVT03.
AVT03, Alvotech's biosimilar candidate to Prolia and Xgeva, is a human monoclonal antibody.
SBI, Colgate-Palmolive, Oberoi Realty to trade ex-dividend
A bunch of stocks are slated to trade ex-dividend on May 22, including SBI, Colgate-Palmolive, Great Eastern Shipping, Oberoi Realty, Sula Vineyards and Trent.
TVS Motor Company launches TVS iQube in Sri Lanka
TVS Motor Company has rolled out electric scooter TVS iQube in Sri Lanka.
GR Infra emerges L1 bidder for Rs 1,997-crore Pune Ring Road project
GR Infraprojects emerges L1 bidder for two projects amounting to Rs 4,346 crore, including a Rs 1,997 crore
Pune Ring Road project.
Metropolis Healthcare results meet analysts' expectations
Metropolis reports a set of quarterly earnings that largely meet analysts' expectations. Zee Business analysts had pegged the diagnostics company's quarterly net profit at Rs 39 crore and revenue at Rs 312 crore.
BHEL Q4 PAT falls 25% to Rs 490 crore; board declares final dividend
State-owned Bharat Heavy Electrical Ltd (BHEL) has registered a fall of more than 25 per cent on a year-on-year basis in its consolidated net profit to Rs 484.4 crore for the March quarter. Zee Business analysts had pegged the PSU's quarterly net profit at Rs 630 crore.
PI Industries Q4 results a mixed bag
PI Industries has clocked a 32 per cent jump in its net profit to Rs 370 crore with revenue growth of 11.2 per cent for the March quarter. The agrochemical maker's margin, a key measure of profitability, has improved by 350 basis points to 25.4 per cent.
Zee Business analysts had pegged PI Industries' quarterly net profit at Rs 380 crore and margin at 24.3 per cent.
Declared Final Dividend of Rs 9/Share
Ircon International stages a mixed Q4 show
Ircon International has logged a 3.5 per cent fall in its net profit to Rs 247 crore for the March quarter with a one per cent decline in revenue. Its margin, however, has expanded by 290 bps to 9.5 per cent.
CLSA maintains 'sell' rating on BHEL, raises target by 40%
CLSA has maintained a 'sell' call on BHEL after the PSU's earnings announcement, and raised its target for the stock to Rs 189 from Rs 135.
CLSA downgrades Oil India to 'reduce' from 'buy'
CLSA has downgraded Oil India to 'reduce' from 'buy' though raised its target for the state-run company to Rs 690 per share from Rs 575 per share.