Oil-linked stocks, Titan Co, Dabur, HDFC, and HeroMoto Corp, among key stocks that may remain in focus today
As many as 41 companies are scheduled to announce their March quarter earnings later in the day. The list includes names such as Dabur, CEAT Ltd, HDFC, Hero MotoCorp, and IDFC, among others.
Stocks in focus today: Domestic equities are expected to see a negative start on Thursday (May 4, 2023) on uncertainty about the Fed rate path. In the overnight trade, the US stocks ended lower, reversing gains after comments by Federal Reserve Chair Jerome Powell left investors wondering what the US central bank's next move would be with interest rate hikes. The FOMC last night increased the US central bank's benchmark overnight interest rate to the 5.00 per cent - 5.25 per cent range, the 10th consecutive increase since March 2022. Besides, at 08:13 am, the SGX Nifty futures traded 0.33 per cent lower at 18,100 levels.
Here's a look at the key stocks that may remain in today's session -
Earnings today: As many as 41 companies are scheduled to announce their March quarter earnings later in the day. The list includes names such as Dabur, CEAT Ltd, HDFC, Hero MotoCorp, and IDFC, among others.
Titan Co: The Tata Group company reported a standalone net profit of Rs 734 crore for the March 2023 quarter, up 49 per cent from the year-ago period. Revenue from operations stood at Rs 8,553 crore, up 26.7 per cent against Rs 6,749 crore reported in the corresponding quarter of the previous fiscal. Total income came in at Rs 9,808 crore, up 33.4 per cent against Rs 7,352 crore logged in Q4FY22.
Petronet LNG on May 3 registered an 18.1 per cent year-on-year decline in standalone profit at Rs 614.25 crore for the March quarter. The standalone revenue from operations for the quarter came in at Rs 13,874 crore, up 24.3 per cent YoY.
Tata Chemicals: Tata Chemicals on Wednesday reported a 53.56% growth in consolidated net profit at Rs 711 crore for the quarter ended March 2023. The company's net profit stood at Rs 463 crore in the year-ago period, Tata Chemicals said in a regulatory filing.
ABB India on Wednesday said its net profit fell over 33 per cent to Rs 245 crore in the March quarter. The company had reported a net profit of Rs 370 crore in the year-ago period, according to a BSE filing. ABB India follows January to December financial year.
SJVN Ltd on Wednesday said it has bagged a 200 MW solar project worth Rs 1,200 crore from Gujarat Urja Vikas Nigam Ltd (GUVNL). "The company has obtained 200 MW Grid Connected Solar Power Project in Khavda Solar Park through an e-Reverse auction conducted by GUVNL, SJVN Ltd", chairman and managing director (CMD) Nand Lal Sharma said in a statement.
AstraZeneca Pharma India on May 3 said it has received clearance from the Central Drugs Standard Control Organisation (CDSCO) to import and sell Trastuzumab Deruxtecan, also known as Enhertu, which is used in the treatment of HER2-positive breast cancer. "AstraZeneca Pharma India has received permission in Form CT-20 to import for sale and distribution of Trastuzumab Deruxtecan (Enhertu) 100mg/5mL vial lyophilized powder for concentrate for solution for infusion from the Central Drugs Standard Control Organisation, Directorate General of Health Services," the company said in a regulatory filing.
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