Britannia, Paytm, Coal India, Happiest Minds and others that may remain in focus today

Domestic equities are expected to see a positive start to the trade on May 8, 2023, as indicated by SGX Nifty and firm global cues. At 08:15 am, the SGX Nifty traded 30.5 points, or 0.17 per cent higher at 18,154.5. Besides, US stocks rallied on Friday (May 6), with the Dow posting its biggest one-day percentage gain since January 6, as shares of Apple surged more than 4 per cent after upbeat results and US jobs data pointed to a resilient labour market. In the morning trade today, Asian shares crept higher. 

Here's a list of key stocks that may remain on investors' radar today: 

Q4 earnings: A slew of companies are slated to release their March quarter numbers later today. The list includes names such as Canara Bank, Happiest Minds, Birlasoft, Pidilite, and MGL. 

Adani Group stocks: MSCI has updated that from now onwards the free float of Adani Total Gas will be 14 per cent and that of Adani Transmission will be reduced to 10 per cent from 25 per cent earlier. In reaction to this, it is estimated that Adani Total Gas will see a total outflow of Rs 730 crore while Adani Transmission is anticipated to witness a net outflow of Rs 1,050 crore.

Britannia: The popular biscuit maker reported an encouraging set of numbers for the March quarter. It reported a 47.53 per cent year-on-year (YoY) rise in consolidated net profit to Rs 557.60 crore for the quarter ending on March 31, as strong demand and past price hikes helped expand margins. The company which sells Marie Gold and Good Day brand of biscuits, had posted a net profit of Rs 377.95 crore in the January-March quarter a year ago.

Coal India on Sunday, May 5, 2023, announced its fourth-quarter results, registering a decline of 17.68 per cent in its consolidated net profit. The profit declined to Rs 5,527.62 crore in the January-March quarter this year from Rs 6,715 crore in the corresponding quarter last year. 

Marico: The FMCG company on May 5 reported an 18.6 per cent jump in consolidated net profit at Rs 305 crore for the Jan-March 2023 quarter against Rs 257 crore in the year-ago period. The bottom line included 'other income’, which includes a one-time gain of Rs 28 crore on the sale of land in one of the overseas locations.

Sun Pharmaceutical Industries: The drug major is recalling pre-filled syringes of a drug, used to treat infertility in women, in the US market due to a manufacturing issue, according to the US health regulator. In its latest Enforcement Report, the US Food and Drug Administration (USFDA) noted that the Mumbai-based drug major is recalling 24,194 prefilled syringes of Fyremadel (ganirelix acetate) injection.

Paytm: Digital financial services firm One97 Communications, which operates under the Paytm brand, on Friday posted a narrowing of consolidated loss to Rs 167.5 crore in the fourth quarter ended March 31, 2023. The company had posted a loss of Rs 762.5 crore in the same period of the last year.

IndusInd Bank: The lender announced the exit of Ramaswamy Meyyappan as the Bank's Chief Risk Officer. The bank stated in a BSE filing that Ramaswamy Meyyappan, the Bank's Chief Risk Officer, has resigned from his position.

Disclaimer: This article has been updated. Mankind Pharma will list its shares tomorrow