Stocks to Watch: Tata Steel, Titan, Future Retail, SpiceJet, Kotak Mahindra Bank
2 min read . Updated: 04 May 2022, 08:00 AM IST
Premium- Kotak Mahindra Bank, Tata Consumer Products, Adani Green Energy, CarTrade Tech, Adani Total Gas, Equitas Small Finance Bank, Havells India, Rain Industries, EIH, IIFL Wealth Management are among the key companies scheduled to announce quarterly earnings today
NEW DELHI: Here are the top 10 stocks that could be in focus on Wednesday:
Tata Steel: The company reported a 37% year-on-year jump in consolidated net profit to ₹9,835.12 crore for the March quarter, led by higher income. Total income jumped to ₹69,615.70 crore from ₹50,300.55 crore a year ago. The board of Tata Steel has recommended a record dividend of ₹51 per share and has also recommended splitting of shares to Re 1 per share face value in a 10:1 split.
Adani Enterprises: Reported a 2% year-on-year decline in consolidated net profit to ₹325.76 crore for the quarter ended on March, on the back of higher expenses. Consolidated income rose to ₹25,141.56 crore from ₹13,688.95 crore a year ago.
Titan Co: The Tata group company has reported a 7.2% year-on-year decline in its consolidated net profit to ₹527 crore for three months to March. Total income rose 4.25% to ₹7,872 crore during the period. Revenue from jewellery segment stood at ₹6,843 crore during January-March, up 2.47% on year.
Future Retail: Amazon has written to Sebi, requesting the regulator to investigate Future Retail Ltd (FRL) for alleged "material suppression" and "false disclosures" by the Indian retailer, "defrauding its shareholders and the Indian investors at large". Amazon has also approached court, accusing FRL of alienating its retail assets in favour of Reliance Industries.
Hero MotoCorp: The country's largest two-wheeler maker reported a 30% year-on-year decline in its March quarter consolidated net profit to ₹621 crore on account of lower sales. Total sales in the fourth quarter of FY22 stood at 11.9 lakh units, down 24% on year.
SpiceJet: Aircraft Accident Investigation Bureau probe SpiceJet’s Mumbai-Durgapur flight mishap. The occurrence is being categorised an ‘accident’ in accordance with the International Civil Aviation Organization norms. The Directorate General of Civil Aviation has carried out a preliminary probe and initiated an inspection of SpiceJet’s entire fleet
Biocon: Subsidiary Biocon Biologics on Tuesday said Ireland's health regulator has reported some deficiencies in the manufacturing process at the company's plant in Bengaluru. The good manufacturing practice inspection of one of Biocon Biologics' new monoclonal antibody drug substance manufacturing facilities was conducted between 28 March and 1 April.
Godrej Properties: Reported net profit of ₹259 crore for the quarter ended March, compared to a loss of ₹192 crore a year ago. Total income rose to ₹1522.57 crore last quarter from ₹576.08 crore a year ago. The company aims to do about ₹10,000 crore of sales bookings in 2022-23.
Adani Wilmar: Has acquired Kohinoor brand from McCormick Switzerland GMBH for an undisclosed amount. The acquisition would give Adani Wilmar exclusive rights over the brand 'Kohinoor’ basmati rice along with ‘Ready to Cook’, ‘Ready to Eat’ curries and meals portfolio in India.
Britannia Industries: Reported a 5% year-on-year rise in consolidated profit to ₹378 crore for the March quarter. Revenue from operations rose 13.4% to ₹3,550.5 crore. The company said it judiciously increased prices during January-March on account of cost inflation and would undertake more such calibrated hikes to retain profitability.
