BackStocks to Watch: HUL, Bajaj Auto, ONGC, Indian Hotels
Indian indices edged lower on Wednesday, tracking weak Asian trends, led by heavy losses in power, financials and telecom stocks.
PremiumHere is the list of the top 10 stocks that are likely to be in focus on Thursday:
HUL: FMCG major Hindustan Unilever Ltd on Wednesday reported a 5.34 per cent increase in its consolidated net profit to ₹2,307 crore for the fourth quarter ended in March 2022 despite flat volume growth due to unprecedented inflation. Moreover, HUL has now become a ₹50,000 crore turnover company and also the first pure FMCG firm to achieve this milestone. The company now has 16 brands with a turnover of ₹1,000 crore each.
Bajaj Auto: The firm on Wednesday reported a 2 per cent decline in consolidated net profit at ₹1,526 crore in the fourth quarter ended March 2022, with sales in both domestic and export markets hit by weak demand and semiconductor shortage. The Pune-based company had reported a consolidated net profit of ₹1,551 crore in the January-March quarter of 2020-21.
HDFC AMC: HDFC Asset Management Company (AMC) on Wednesday reported an 8.7 per cent growth in profit after tax (PAT) to ₹343.55 crore in the quarter that ended in March 2022.
ONGC: State-owned Oil and Natural Gas Corporation (ONGC) on Wednesday said it has signed a pact with Norwegian energy giant Equinor ASA for collaboration in oil and gas exploration and production as well as clean energy projects.
Infobeans: IT company Infobeans on Wednesday reported a 74 per cent increase in consolidated profit after tax to ₹17.48 crore in the fourth quarter ended March 31. The company had posted ₹10 crore profit after (PAT) in the year-ago period.
IHCL: Tata group hospitality firm, Indian Hotels Company Ltd (IHCL) on Wednesday reported a consolidated net profit of ₹71.57 crore in the fourth quarter ended March 31, 2022. The company had posted a consolidated net loss of ₹97.72 crore in the same period previous fiscal, IHCL said in a regulatory filing.
Trent: Tata group retail firm Trent Ltd on Wednesday reported a consolidated net loss of ₹20.87 crore for the fourth quarter ended in March 2022. The company had posted a net profit of ₹17.44 crore in the January-March quarter a year ago, Trent said in a BSE filing.
Syngene: Contract manufacturing services firm Syngene International on Wednesday said its profit after tax (PAT), before accounting for exceptional items, increased by 7 per cent to ₹148 crore in the fourth quarter ended March 31.
Network18 Media & Investments: A firm led by James Murdoch and a former head of Walt Disney India will invest 135 billion rupees ($1.8 billion) in a venture backed by billionaire Mukesh Ambani, as the fight for domination of the South Asian media market intensifies. Bodhi Tree Systems will lead a group of investors to pour the cash into Viacom18 -- a joint venture between Ambani and Viacom Inc., the companies said in a joint statement Wednesday. A unit of Ambani’s Reliance Industries Ltd. will invest another 16.5 billion rupees.
Persistent Systems: The firm reported a 14% sequential growth in profit at ₹200.9 crore in Q4FY22.
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