Among Nifty companies that will announce March quarter results today are SBI Life Insurance and Kotak Mahindra Bank. Godrej Properties, L&T Technology Services, IDBI Bank, Tata Chemicals, and Varun Beverages are among other companies that will also report earnings today
NEW DELHI: Here are the top 10 stocks that could be in news today:
Reliance Industries: The Mukesh Ambani-owned company reported more than doubling of its March quarter net profit to ₹14,995 crore as consumer businesses of retail and telecom as well as petrochemicals saw sequential recovery on improved spreads offsetting continued weakness in refining business. Revenue rose a more sedate 14% to ₹1.72 trillion. Reliance Jio's revenue fell 6% as the removal of IUC charges dragged down ARPU by 9%.
Yes Bank: The private sector lender on Friday reported a higher-than-expected loss of ₹3,788 crore at the end of the March quarter for the fiscal year 2020-21 because of higher provisions. The bank reported a net loss of ₹3,688 crore a year ago and a net profit of ₹151 crore last quarter.
Kotak Mahindra Bank: The bank will report its March quarter earnings on Monday. The lender had reported a 16% year-on-year rise in its standalone net profit for third quarter ended December to ₹1,854 crore. Net Interest Income (NII) for Q3FY21 increased to ₹4,007 crore from ₹3,430 crore.
Auto companies: Major automobile manufacturers Maruti Suzuki, Hyundai Motor, and Tata Motors on Saturday reported a decline in passenger vehicle sales in April compared to March this year as the second wave of the coronavirus pandemic hit dispatches. However, Mahindra & Mahindra along with Honda Cars India posted sequential growth in their passenger vehicle sales last month.
HDFC Bank: Seven months after Sashi Jagdishan took over as its chief executive and managing director, largest private sector lender HDFC Bank on Friday announced wide-ranging organisational changes. The bank has been reorganised into three pillars of 'business verticals', 'delivery channels' and, 'technology and digital'.
IndusInd Bank: The bank reported a near-tripling of its March quarter standalone net profit to ₹876 crore on the back of lower provisions. Its gross bad loans as a percentage of gross advances stood at 2.67%, up 93 bps sequentially and 22 bps y-o-y. The bank refrained from providing forecasts on some business parameters, citing the uncertainties caused by the second wave of the pandemic.
State Bank of India: The lender has reduced home loan interest rate to 6.70%. It said home loan interest rates are now starting from 6.70% for loans up to ₹30 lakh and 6.95% for loans above ₹30 lakh to ₹75 lakh. The interest rate on home loans above ₹75 lakh is 7.05%.
Mahindra and Mahindra: The automaker has inked a pact with shareholders of Meru to increase its stake to 100% in the ride-hailing service provider. The auto major said in continuation of its strategic intent to grow its presence in the shared mobility space, the company has entered into definitive agreements with shareholders of Meru Travel Solutions Pvt Ltd (Meru) to buy their respective stakes in the ride-hailing services provider.
Bank of India: EGM of the shareholders of the bank of India will be held on Wednesday through virtual means to seek consent of shareholders to issue and allot up to 42,11,70,854 equity shares for cash at ₹71.23 per equity share including premium of ₹61.23 aggregating up to ₹3,000 crore on preferential basis to government.
Dr Reddy's Laboratories: India on Saturday received the first consignment of 150,000 Sputnik V doses in Hyderabad, which will be rolled out across "different channels" following necessary clearances from the Indian drug regulatory machinery, the vaccine’s distributor in the country, Dr Reddy’s Laboratories, said.
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