Tuesday, May 30, 2023
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Stocks to Watch: Airtel, RIL, ONGC, HDFC, HCL Tech, Wipro, Indian Oil, and Others

A bullish start to the day for local stock markets is indicated by the Nifty futures contract being traded on the Singapore Exchange. As of the previous close, the contract was trading at 18,443, which was an increase of 39.5 points or 0.21%.

Q4FY23 earnings today

Max Healthcare Institute, Bharti Airtel, LIC Housing Finance, Bank of Baroda, Indian Oil Corporation, Jindal Steel & Power, JK Paper, Creditaccess Grameen, Alicon Castalloy, Amber Enterprises India, Aurionpro Solutions, Automotive Axles, Chemplast Sanmar, EIH Associated Hotels, Excel Industries, Granules India, Indo Rama Synthetics (India), Jubilant Ingrevia, Excel Industries, Granules India,

Reliance Industries and ONGC are as follows: According to a notice issued by the government, the windfall tax on petroleum oil has been reduced to zero from its previous rate of Rs 4,100 per tonne effective as of May 16. The windfall tax on gasoline, diesel fuel, and aviation turbine fuel (ATF) was maintained at its previous level of zero.

When compared to the net loss of Rs 48.1 crore that it incurred in the previous quarter, Suryoday Small Finance Bank reported a net profit of Rs 38.9 crore in the fourth quarter that ended in March 2023 (Q4FY23). The financial institution’s other revenue increased by 69.5% year on year to reach 33.92 crore, while the lender’s net interest income increased by 43.5 percent year on year to 210 crore.

PVR Inox: On Monday, the multiplex company PVR Inox Ltd announced a widening in consolidated net loss at Rs 333 crore for the March quarter. This is a significant increase from the previous quarter. One year earlier, the total net loss recorded by the firm was Rs. 105 crore. The consolidated total revenue from operations of the firm increased by 113 percent to 1,143 crore during the March quarter, as opposed to 536 crore during the same time period in the previous fiscal year.

Berger Paints reported on Monday a consolidated net profit of Rs 186 crore for the March quarter, which is a decrease of 15% when compared to the Rs 221 crore reported during the same time period in the previous year. The consolidated income from operations of the firm increased by 11.7 percent year over year to reach Rs 2,444 crore.

Pfizer: On Monday, the pharmaceutical company Pfizer reported a consolidated net profit of Rs 130 crore for the March quarter. This figure represents a year-over-year increase of 3%. The total revenue was higher at Rs 604 crore compared to Rs 567 crore during the same time period in the previous year.

Karur Vysya Bank said on Monday that its net profit for the fourth quarter of fiscal year 23 was 338 crore, which is a 59 percent increase from the 213 crore it reported for the same period in fiscal year 22. The bank’s gross non-performing assets (NPA) in the fourth quarter of fiscal year 23 decreased to 2.27 percent, or 1,458 crore, from 6.03 percent, or 3,431 crore, in the previous year’s fourth quarter.

Mortgage lender HDFC plans to strengthen its financial position by selling bonds via a private placement offering in the amount of up to Rs. 8,000 crore. There would be an option to retain oversubscription of up to Rs 5,000 crore for the unsecured redeemable non-convertible debentures (NCDs) offering, which will have a base size of Rs 3,000 crore.

HCL Technologies, a global leader in information technology, said today that it has deepened and expanded its cooperation with SAP. As part of the extended relationship, HCLTech has become a client of the SAP SuccessFactors Human Experience Management Suite (also known as the SAP SuccessFactors HXM Suite). In addition, HCLTech has now become a worldwide strategic service partner for SAP.

Adani Enterprises: On Monday, the Ministry of Finance expressed disagreement with the market regulator Sebi about the Adani-Hindenburg dispute and said that it stands by its response that it provided to Parliament in July 2021. After that, the government announced that the Securities and Exchange Board of India was conducting an investigation into many entities affiliated with the Adani Group.

Wipro has made the following announcement: its FullStride Cloud Studio has teamed with Google Cloud’s Rapid Migration Programme (RaMP) to assist customers in accelerating their journey to the cloud and pursuing a migration strategy that is grounded in business results. Wipro disclosed this partnership.

Indiabulls Housing Finance’s Board of Directors will have a meeting on May 22 to discuss the possibility of the firm issuing secured and/or unsecured bonds in one or more tranches in order to raise capital. The audited financial statements of the firm for the quarter and financial year that ended on March 31, 2023, will also be considered and approved at this meeting.

The wholly owned subsidiary of Ultratech Cement, Ultratech Nathdwara Cement, has inaugurated a brownfield cement factory in the state of Rajasthan at Neem Ka Thana. This facility has an annual capacity of 0.8 million metric tonnes. The entire grey cement production capacity of the corporation has now reached 129.95 million metric tonnes per year.

The remaining ten percent ownership in RPS Consulting was purchased by NIIT for a fixed payment of Rs 15 crore and a performance-based earnout consideration of up to Rs 3.71 crore, which would be paid out over the course of the following two years. NIIT has just acquired a full ownership position in RPS Consulting.

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