Stocks to watch: Equity markets, including the Sensex and the Nifty, will be largely driven this week by macroeconomic data, auto sales, FII inflows and global trends. Negotiations on the US debt ceiling and institutional flows will also be watched by investors. On Monday, shares of companies like ONGC, Dalmia, Sun Pharma and others will be the focus of Monday’s trading.
Oil and natural gas company
The state-owned ONGC has reported a standalone net loss of Rs 247.7 crore during the quarter under review against a profit of Rs 11,045 crore in the December quarter. The self-employment net loss is due to a one-time loss of Rs 9,235 crore to cater for tax litigation between 2016 and 2022. Revenue for the quarter fell 5.9 percent sequentially while operating profit or EBITDA fell 20 percent from of December.
Easy Trip Planners Ltd
Easy Trip, which operates EaseMyTrip.com, reported gross booking revenue (GBR) of Rs 8,051 crores, the highest ever. This was a 117 percent year-on-year increase for the quarter ending March 2023. The travel company’s revenue nearly doubled year-on-year to Rs 116.5 crore, while its net profit increased by 33 percent from the same period last year.
Engineers in India
Engineers India, an engineering consultancy and EPC firm, has reported a massive year-on-year growth of 140.3 percent in its consolidated profit of Rs 190.2 crore for the March 2023 quarter. It was driven by healthy operational performance. The company’s revenue for the quarter at Rs 880 crore was up 7.6 percent from a year ago.
Dalmia Bharat Ltd
The North East subsidiary of cement maker Dalmia Bharat has approved capex worth Rs 3,642 crore to set up new clinker and grinding units. It will fund the capex through a mix of debt, equity and internal accruals. The proposed capacity is expected to be added in FY25-26.
Sun Pharmaceutical Industries Ltd
The pharmaceutical company’s board of directors has proposed a non-binding indication of interest to acquire a 100 percent stake in Taro Pharma for $38 per share in an all-cash deal, through a reverse triangular merger. Upon completion of the proposed transaction, Sun Pharma will retain a 100 percent interest. It also plans to take Taro off the New York Stock Exchange (NYSE) upon completion of the deal.
She-wolf
Lupine has said its Canadian subsidiary, Lupine Pharma Canada, has received approval from Health Canada to market a generic version of Spiriva (tiotropium bromide inhalation powder) in Canada. Tiotropium bromide is indicated for the treatment of airway obstruction in patients with chronic obstructive pulmonary disease (COPD), including chronic bronchitis and/or emphysema.
Aurobindo Pharma
The pharmaceutical company posted a net profit of three-quarters high and thus met the expectations of the street. The margin was also three-quarters high. US revenue of $370 million was in line, but at the lower end of the $370 million — $380 million range.
Clean science and technology
The promoter group plans to sell up to 3.5 percent of the company’s total equity at Rs 1,400 per share worth Rs 553 crore through a block deal. The sale of the promoter’s interest is to meet minimum public shareholding requirements. The promoter’s current stake stands at 78.5 percent.