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Home >Markets >Stock Markets >Stocks to Watch: Bajaj Finance, Motherson Sumi, MTAR Tech, RIL, Wipro

Here are top ten stocks expected to be in the news today.

Bajaj Finance: The company has surpassed Kotak MahinBank in terms of market capitalisation, following a surge in its share price, which hit a 52-week high on Wednesday. At 10 am, Bajaj Finance's valuation stood at 3.52 trillion which was higher than that of Kotak Mahindra Bank's 3.51 trillion market cap.

Motherson Sumi Systems: The company reported a consolidated net profit of 713.6 crore for the quarter ended March, which is a 289% increase from 183.4 crore profit posted in the same quarter last year. The total revenue from operations rose 17.6% to 16,972 crore as against 14,434.5 crore in the corresponding quarter of the previous fiscal.

MTAR Technologies Ltd: The company said its profit after tax was up by 47% to 46.1 crore in FY21 against 31.3 crore in the year ago period. In a press release, the city-based firm said revenue from operations stood at 246.40 crore in FY21 as against 213.80 crore in FY20, up by 15%.

Muthoot Finance: The country's largest gold loan NBFC reported a net profit of 3,722 crore in the fourth quarter of FY 21. In the previous financial year (2019-20), the gold foreign exchange firm had reported a profit of 3,018.30 crore, Muthoot Finance said in a BSE filing.

Panacea Biotec: The pharma company reported a consolidated net loss of 54.14 crore for the quarter ended 31 March. The company had posted a net loss of 69.70 crore for the corresponding period of the previous financial year, Panacea Biotec said in a BSE filing. For the financial year ended March this year, the net loss of the company stood at 147.65 crore. It was a loss of 194.29 crore for the previous fiscal year, Panacea Biotec said.

Phoenix Mills: Mall developer Phoenix Mills Ltd (PML) and Singapore’s sovereign wealth fund GIC Pte Ltd have entered into a partnership to establish a $733 million investment platform for retail‐led mixed‐use assets in India. GIC will acquire a significant minority stake in the portfolio of projects that will be located Mumbai and Pune.

Shriram Transport Finance Co. Ltd: The financier has issued 750 non convertible debentures worth 75 crore, priced 10,03,130 each for every NCD of face value 10,00,000 apiece, on a private placement basis, the company said I a regulatory filing.

RIL: Mukesh Ambani, chairman of RIL, in his address to shareholders in the company’s annual report, said, "As technology becomes a driving force in all businesses and facets of life, the future belongs to organizations that can lead and leverage the digital revolution," implying that RIL's push through its telecom and digital services and new commerce business is a step in that direction. Jio is accelerating the rollout of digital platforms and indigenously-developed next-generation 5G stack, Reliance Industries' annual report has said, highlighting that India is at the forefront of the ‘global digital revolution’.

Tata Consumer Products Ltd: Tata Consumer products Ltd (TCPL), that sells pulses, tea, coffee and spices, has launched a premium roasted and ground coffee under the Sonnets brand targeting urban and increasingly discerning coffee drinkers in India. The move marks the company’s entry into the direct-to-consumer market.

Wipro: The IT company Wipro said it has sold its entire stake in Denim Group for a consideration of $22.42 million (about 160 crore). In March 2018, Wipro acquired a 33.33% stake in Denim Group Ltd and Denim Group Management, LLC, an independent application security firm, for a consideration of $8.83 million, Wipro said in a regulatory filing.

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