Stocks to watch today: The Nifty futures contract trading on the Singapore Exchange signals a positive start for domestic stocks. The contract traded at 18,358.50, up 23 points or 0.13% from the previous close.
Watch earnings: Amara Raja Batteries, Ashok Leyland, Bajaj Electricals, Bikaji Foods International, Biocon, CMS Info Systems, Dixon Technologies, Dreamfolks Services, Fortis Healthcare, Gabriel, Gandhi Special Tubes, Indoco Remedies, JSW Energy, Kothari Products, Lyka Labs, Metro Brands, NMDC, Polyplex Corporation, Radhe Developers, Schneider Electric Infrastructure, Thyrocare Technologies, TN Petro, TTK Healthcare and Unichem Labs are some of the prominent companies set to announce Q4 results on Tuesday.
PB Fintech (PolicyBazaar): The company reported a net loss of Rs 9 crore for the quarter ending March 2023, a sharp decrease compared to a net loss of Rs 220 crore in Q4FY22. Consolidated revenue grew 61 percent year-on-year to Rs 869 crore. The company reported that insurance premiums were up 65 percent year-over-year and credit payouts were up 53 percent year-over-year in the quarter under review.
BPCL: The state-owned oil marketing firm reported a 159 percent growth in net profit of Rs 6,478 crore for the fourth quarter of current 2022-23 (Q4FY23), compared to Rs 2,501 crore in the same period a year ago. Consolidated revenue from operations rose 8.1 percent to Rs 1,34,000 crore from Rs 1,23,000 crore.
JSW steel: The company has reached an agreement in principle to form a 50:50 joint venture (JV) with Japan’s JFE Steel to produce cold-rolled grain-oriented electrical steel (CRGO) in India.
Vedanta: The company’s board of directors announced its first interim dividend worth Rs 18.50 per share, amounting to Rs 6,877 crore for FY24. The company has set May 30 as the record date for the dividend payment.
Hindu Unilever (HUL): The FMCG major in partnership with Genpact has launched Be.Seen – a program to help scale businesses owned by minority and under-represented groups in India. HUL and Genpact eventually want to integrate these companies into the supply chains of major consumer companies, including HUL’s.
Asian Hotels (East): The Hyatt group of hotels promoters reported a turnaround in Q4FY23 with a net profit of Rs 5.73 crore. The company posted a net loss of Rs 1.80 crore in Q4FY22. Total income increased by 73.5 percent year-on-year to Rs 28.72 crore from Rs 16.55 crore.
Dhanlaxmi Bank: The Kerala-based bank posted a net growth of 63 percent in the fourth quarter at Rs 38.17 crore for the fourth quarter of FY 2022-23, up from Rs 23.42 crore in the same quarter of FY22. Total income increased by 5.5 percent year-on-year to Rs 1,145.75 crore.
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