Among major companies that will report their March quarter earnings are Cipla, Dr Reddy’s, and Larsen & Toubro. Jindal Stainless, Aditya Birla Capital, Balkrishna Industries, , Macrotech Developers and Welspun India are a few other companies that will also declare their results today
Here are the top 10 stocks that will be in news on Friday:
Tata Power Ltd: The company's board has approved a proposal to raise up to ₹5,500 crore through issuance of non-convertible debentures. The NCDs can be issued on private placement basis to any persons, entities, companies, banks and financial institutions. The funds so raised will be utilized for refinancing of existing loans, among others, it stated.
Dr Reddy's: The drug firm will announce its March quarter earnings today. Besides, Eli Lilly and Cohas inked voluntary licensing agreements with Dr Reddy’s Laboratories Ltd, besides Torrent Pharmaceuticals Ltd and MSN Laboratories Ltd, to expedite availability of Baricitinib for treatment of covid-19 patients in the country.
Happiest Minds Technologies: The Bengaluru-based IT services firm posted a 580% year-on-year (y-o-y) increase in net profit to ₹36 crore for Q4FY21. The company is eyeing a 20% organic growth in the medium to long term driven by acceleration in demand for digital services, which accounts for nearly 97% of the firm’s total revenues, the highest among its Indian peers.
Piramal Enterprises: The company reported a consolidated net loss of ₹510 crore for the quarter ended 31 March 2021. The company had posted a net loss of ₹1702.59 crore for the same quarter last year. Consolidated revenue from operations advanced 1.83% to ₹3,402 crore during the quarter under review as against ₹3,341 crore for the corresponding quarter of previous fiscal.
Jindal Steel and Power: Riding on the current upcycle in global as well as domestic steel prices, JSPL clocked a net profit of ₹5,527 crore for FY21. For the fourth quarter, the company reported a 23 times jump in its consolidated profit after tax to ₹1,900.51 crore. JSPL’s annual consolidated gross revenue grew by 224% year-on-year to ₹42,745 crore.
Bharti Airtel Ltd: The telco's Africa unit reported a net profit of $415 million for the financial year ended March, compared to $408 million a year ago, the company said in a statement. Airtel Africa Plc’s revenue from operations stood at $3,888 million, up 19.4% in constant currency.
Battery makers: India has approved a ₹18,100 crore production-linked incentive scheme for building Tesla-style giga factories to manufacture batteries. The plan is to set up 50 giga watt hour (GWh) manufacturing capacity for advance chemistry cell batteries by attracting investments totaling ₹45,000 crore.
UPL: The agro-chemical firm reported a 73.6% growth in consolidated net profit at ₹1,361 crore for the March quarter. Revenue from operations was 15 per cent higher in the quarter at ₹12,796 crore compared to ₹11,141 crore in the same period of 2019-20.
Indian Oil Corporation: The state-run company is planning to draw liquid medical oxygen from the Chinese plant of industrial gas maker Linde on a commercial basis, said two people aware of the development.
Eicher Motors: Mid-sized motorcycle maker Royal Enfield said it has decided to shut down its two manufacturing facilities between 13 and 16 May to safeguard its employees amid the second wave of coronavirus pandemic in the country. The company, which is a part of Eicher Motors, would utilise the shutdown to undertake maintenance activity at its manufacturing plants.
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