Stocks to Watch: L&T, Tata Motors, PNB, Vodafone Idea, Hindalco, UltraTech
2 min read . Updated: 12 May 2022, 07:59 AM IST
Premium- Larsen & Toubro, Tata Motors, RBL Bank, Aditya Birla Capital, Anupam Rasayan India, Apollo Tyres, Gujarat State Petronet, Honeywell Automation India, Poonawalla Fincorp, Ujjivan Small Finance Bank, CreditAccess Grameen are among the companies scheduled to announce their results today
NEW DELHI: Here are the top 10 stocks that could be in focus on Thursday:
Vodafone Idea: The telco does not expect rising inflation to become a challenge in raising tariffs in the short or long term since consumer spend on telecom services was a tiny part of the consumer’s wallet, its chief executive officer Ravinder Takkar said, signalling certainty to more tariff hikes in the coming quarters. Vodafone Idea is also looking at a use-more, pay-more model for tariff hikes going forward which will have a lesser impact on low-end users.
Hindalco Industries: Novelis Inc., the American unit of Hindalco Industries Ltd. will invest $2.5 billion to build a new recycling and rolling plant in the US in the largest greenfield expansion plan by parent Aditya Birla Group. Novelis reported a 21% year-on-year growth in its net profit to $217 million in the March while net sales rose 34% to $4.8 billion.
PNB: Public sector lender Punjab National Bank on Wednesday reported a 66% year-on-year decline in its standalone net profit to ₹202 crore for the quarter ended March due to higher amount parked towards provisioning, even as bad loans declined. Standalone income during the quarter of 2021-22 stood at ₹21,095 crore, down from ₹21,386 crore a year ago.
UltraTech Cement: India’s largest cement maker, has submitted a non-binding bid for Holcim Ltd’s Indian assets Ambuja Cements Ltd and ACC Ltd. Details about UltraTech’s bid could not be immediately ascertained.
Vedanta: Is in active negotiations with smartphone brands Oppo and Vivo, laptop manufacturers and electronic device makers for the semiconductor chips it plans to roll out of its soon-to-be-announced semiconductor plant in India. In January, Vedanta had announced a tie-up with Taiwanese electronics manufacturer Foxconn for a multi-billion dollar chip manufacturing plant.
Future Retail: Amazon Inc. has written to the Reserve Bank of India and lenders of Future Group, alleging repeated collusion by Future Retail Ltd (FRL) and banks to deny its rights. FRL should not be allowed to go into bankruptcy proceedings as that would impact its rights further.
Macrotech Developers: Real estate firm Macrotech Developers, or the Lodha Group, has partnered with Bain Capital and Ivanhoé Cambridge to build a platform of logistics and light industrial parks, as well as in-city fulfillment centers. The platform will jointly invest $1 billion to create about 30 million sq ft of operating assets to serve the country’s digital economy.
Petronet LNG: The liquefied natural gas importer reported a 24% year-on-year growth in consolidated profit to ₹791 crore for the March ended quarter, driven largely by strong topline. Revenue grew 47.3% to ₹11,160.4 crore during the period.
Pfizer: Life Insurance Corp. of India has acquired 2.03% equity stake in the company via open market transactions. With this, its shareholding in the company stands at 6.05%, up from 4.02% earlier.
PFC, REC: The Centre has directed state-run Power Finance Corp. and REC Ltd. to take necessary action to arrange short term loans for a period of six months with adequate safeguards, for imported coal-based plants plants which are under stress or in NCLT, at the earliest. India last week invoked an emergency law to start generation at some idle power plants running on imported coal which are not producing power because of financial stress or due to high cost of imported coal.
