The market remains choppy as the battle between bulls and bears continues. D-Street is seeing a lot of stock-specific reactions, thanks to the ongoing earnings season. Benchmark indices wiped out some of the previous day’s gains, closing one percent lower on April 27 on weak global signals amid elevated energy prices, the Ukraine-Russia war and growth concerns. The BSE Sensex fell 537 points to 56,819, while the Nifty50 fell 162 points to 17,038 before April’s derivative contracts expired.
Results today
Axis Bank, Bajaj Finserv, Ambuja Cements, SBI Life Insurance Company, Vedanta, Agro Tech Foods, Biocon, Coromandel International, Embassy Office Parks REIT, Fineotex Chemical, IIFL Finance, IndiaMART InterMESH, Laurus Labs, Motilal Oswal Financial Services, Mphasis, Procter & Gamble Hygiene & Health Care, PNB Housing Finance, Shoppers Stop, Shriram Transport Finance, Sterlite Technologies and Varun Beverages will report their quarterly results on April 28.
ONGC
The state-owned oil and gas exploration company has signed an MoU with Norway-based Equinor ASA for exploration and production, and clean energy.
Tata Consumer Products
Life Insurance Corporation of India bought 1.36 lakh shares in the company on April 26 through open market operations. This increased LIC’s share of the company to 5.008 percent, from 4.993 percent earlier.
Persistent systems
The company reported a good run of numbers as it posted 14 percent sequential earnings growth at Rs 200.9 crore, driven by both sales and operating income. Sales increased 9.8 percent quarter on quarter to Rs 1,637.9 crore in the same period, with order bookings for the quarter at $361 million in total contract value. Dollar sales rose 9.1 percent sequentially to $217.32 million in Q4FY22.
Bajaj Auto
The two-and-tricycle maker recorded a 10.3 percent year-on-year profit growth from Rs 1,469 crore in the quarter ended March 2022 thanks to incentives from the Maharashtra government for April 2015 to March 2021, but sales fell by 7 .2 percent year-on-year to Rs 7,974.8 crore on a decline in volumes. EBITDA fell 10 percent to Rs 1,396 crore.
Trent
The company recorded a loss of Rs 20.87 crore for the quarter ended March 2022 against a profit of Rs 17.44 crore in the same period last year as total costs increased by 49 percent in the same period, but sales were very bad. strong and grew by 46.7 percent to Rs 1,328.9 crore compared to the same period a year ago.
HDFC Asset Management Company
The company reported an 8.7 percent year-over-year profit growth of Rs 343.55 crore, supported by other income and lower tax costs. Revenue grew 2.6 percent year-on-year to Rs 516.28 crore during the same period.
Hindustan Unilever
The company reported profits that beat analysts’ estimates, with profit rising 8.6 percent year-on-year to Rs 2,327 crore on the back of double-digit growth in sales and operating income, though the margin contracted 30 bps year-on-year. Sales during the quarter rose 11 percent to Rs 13,462 crore compared to the same period last year with flat underlying volume growth. The company said it was dynamically managing the business to drive savings across all P&L lines and take calibrated pricing actions. The final dividend declared by the company was Rs 19 per share for FY22.
Novartis India
The company has appointed Ms. Shilpa Joshi as Chief Financial Officer and senior staff effective May 1, 2022. Before joining Novartis, she had worked at Fiat Pvt Ltd, Clariant India and Wander India.
Indian Hotels
The company posted a profit of Rs 74 crore for the quarter ended March 2022 on solid growth in sales and operating income, compared to a loss of Rs 91 crore in the same period a year ago. Revenue during the quarter grew 52.55 percent to Rs 955 crore compared to the same period a year ago, and EBITDA increased 192 percent to Rs 242 crore in the same period.
escorts
Rating agency CRISIL has increased the company’s long-term rating by one step from “AA” to “AA+” with its outlook revised from “watch with Positive Implications” to “Stable”. CRISIL has also reconfirmed its short-term rating to “A1+”.
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