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Home Economy

Stocks to Watch Today: Ashok Leyland, Hindustan Aeronautics, NTPC, Paytm and others

by Nick Erickson
May 20, 2022
in Economy
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Stock Market Watch: Tata Power, NTPC, L&T and other stocks follow on 2022 budget
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Dalal Street was gripped by bears on Thursday as benchmark indices fell more than 2.6 percent after falling in global counterparts amid concerns over growth and inflation. Selling pressure was also evident in the wider space as the Nifty Midcap 100 index fell 3 percent and the Smallcap 100 index fell 2.7 percent. The BSE Sensex fell 1,416 points or 2.6 percent to 52,792 while the Nifty50 fell 431 points or 2.65 percent to 15,809.

Results today

NTPC, One 97 Communications (Paytm), Amara Raja Batteries, Gati, HeidelbergCement India, Indiabulls Housing Finance, IDFC, Indigo Paints, Indian Railway Finance Corporation, JK Tire and Industries, CE Info Systems, Metro Brands, Narayana Hrudayalaya, Nuvoco Vistas Corporation Paras Defense and Space Technologies, Pfizer, SML Isuzu, Sobha, Thermax and Zydus Lifesciences will report their quarterly results for March on May 20.

Equitas Small Finance Bank

Veteran banker PN Vasudevan has resigned as general manager and chief executive officer of Equitas Small Finance Bank, the lender said. Vasudevan said in his letter of resignation that he wants to devote his time to social welfare through his public charity.

HPCL

State-run oil refinery and marketer Hindustan Petroleum Corporation recorded a 34 percent drop in consolidated net profit in the March quarter to Rs 2,019 crore from Rs 3,061 crore in the same period a year ago due to an increase in total costs. Revenue for the quarter was Rs 1.07 trillion, up 24.2 percent from Rs 85,755 crore last year. Total costs rose 28 percent to Rs 1.05 trillion, from Rs 81,717 crore a year ago. Operating margin for the quarter shrank sharply to 1.57 percent, from 4.46 percent last year. The average gross refining margin for the year ended March 2022 was $7.19 per barrel, up from $3.86 per bbl during the corresponding prior year.

Godrej Consumer Products

Godrej Consumer reported a 1 percent decline in net profit for the March quarter to Rs 363 crore year-over-year due to a slowdown in consumption and high commodity inflation. Sales were up 7 percent from a year ago to Rs 2,920 crore. The total cost increased by 12 percent year-on-year to Rs 2,540 crore.

Gland Pharma

Gland Pharma’s net profit rose 10 percent to Rs 285.90 crore in the quarter ended March 2022, compared to Rs 260.41 crore in the same quarter last fiscal. Net sales increased 24.25 percent to Rs 1,103.01 crore from Rs 887.75 crore a year ago. The EBITDA margin shrank sharply to 35 percent, from 40 percent year-on-year.

Ashok Leyland

The company reported a 274 percent year-over-year jump in net profit of Rs 901.4 crore for the fourth quarter of FY22. Total income was Rs 8,744.3 crore during the quarter, up 24.9 percent from Rs 7,000.5 crore in the corresponding period of the previous fiscal year. Truck market share for Q4 FY22 improved to 30.6 percent from 28.9 percent in Q4 FY21, the highest market share in the last 11 quarters.

biocon

Subsidiary Biocon Biologics and Viatris Inc. announced that Abevmy (Bevacizumab) is now available in Canada. Abevmy, co-developed with Biocon Biologics and Viatris, is a biosimilar to Roche’s Avastin (Bevacizumab) and is approved by Health Canada for four oncology indications.

Eros International

The board of directors approved raising Rs 405 crore by issuing 13.50 crore warrants at a price of Rs 30 per share.

Disclaimer: The expert opinions and investment tips contained in this News18.com report are their own and not the website or its management. Users are advised to contact certified experts before making any investment decisions.

Read all the latest news, breaking news and IPL 2022 Live Updates here.

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