Stocks to Watch: Check out the companies making headlines before the opening bell.
Results on May 26. Hindalco, Motherson Sumi, Muthoot Finance, Zee Entertainment Enterprises, Aarti Surfactants, Oberoi Realty, Aban Offshore, AllCargo Logistics, Ansal API, Astra Zeneca, Berger Paints, Colgate Palmolive India, Cummins India, Good Year India, Gujarat State Fertilizers Corporation, India Glycols, Jet Airways, Kirloskar Industries, MRO-Tek, NMDC, Page Industries, Prestige Estate Projects, Quess Corp, Shalimar Paints, Sudarshan Chemicals.
NHPC consolidated profit increases 6.8%: The hydro-electricity generating company reported a 6.8 percent year on year rise in March quarter consolidated net profit to Rs 515 crore aided by deferred tax credit of Rs 87.8 crore against a deferred tax expense of Rs 394 crore during the same period last year. Consolidated revenue inched higher by four percent to Rs 1,674 crore. The company has recommended a final dividend of Rs 0.5 per share of Rs 10 each which is in addition to the dividend of Rs 1.31 per share already paid for FY22.
Infosys collaborates with Palo Alto Networks: Infosys collaborated with Palo Alto Networks to create network security solutions that enable global organisations to secure hybrid cloud infrastructure from a single unified platform, while maximising existing investments and integrating SASE and zero-trust architecture components. The companies will enhance these security solutions for their worldwide customers like Mercedes-Benz.
MOIL reports a 13% jump in net profit: MOIL reported a 13 percent year on year jump in March quarter net profit to Rs 131 crore aided by lower inventory costs and other expenses. Revenues increased four percent to Rs 467.9 crore.
Kolte Patil Developers net profit rises 28.6%: Kolte Patil Developers’ March quarter net profit rose 28.6 percent year on year to Rs 26.8 crore aided by seven percent improvement in realisations. The revenues for the Pune based developer improved 27 percent to Rs 376 crore.
Coal India consolidated profit surges 46.3%: Coal India consolidated profit surged 46.3 percent for the March quarter to Rs 6,715 crore. Revenues were higher by 22.5 percent at Rs 32,707 crore. Growth was aided by higher production and offtake coupled with increase in average realisations. The company has recommended a final dividend of Rs 3 per share of Rs 10 each for the financial year 2021-22.
Birla Soft promoters will not be participating in the proposed share buyback: Birla Soft promoters will not be participating in the proposed share buyback programme of the company. The company on May 23 had proposed to buy back up to 7,800,000 fully paid shares of Rs 2 each.
Nahar Spinning Mills reports 69% jump in profit: Nahar Spinning Mills reported a 69 percent year on year jump in its profit for the March quarter aided by robust demand and better realisation for yarn. Revenue improved 37.2 percent to Rs 999.37 crore.
Suzlon Energy net loss widens 261%: Suzlon Energy net loss widened 261 percent to Rs 204.3 crore for the March quarter impacted by higher tax expense. Consolidated profit more than doubled to Rs 2,478.8 crore.
Praj Industries profit after tax rises 10.8%: Praj Industries profit after tax for March quarter rose 10.8 percent year on year to Rs 57.65 crore. Revenues jumped 46.2 percent to Rs 829 crore. The company has declared a final dividend of Rs 4.2 per share of Rs 2 per share for FY2021-22.
Torrent Pharma declares a dividend of Rs 23 per share and announces bonus issue: Torrent Pharma declared a dividend of Rs 23 (460 percent) per share of Rs 5 each including a special dividend of Rs 15 per share. The pharma major also announced a bonus issue of 1:1, that is, one share for each fully paid up share held. Consequent to the bonus issue, the total paid up share capital will be Rs 169.22 crore from the existing Rs. 84.62 crore.
V-Mart Retail declares a net loss of Rs 2.6 crore: V-Mart Retail declared a net loss of Rs 2.6 crore for the quarter ended March, up from Rs 1.47 crore a year ago. Revenues jumped 30.4 percent to Rs 458.77 crore. The company witnessed an overall increase in almost all expenses which impacted the bottomline. The firm recommended a final dividend of Rs.0.75 per fully paid up share of Rs 10 each, aggregating to Rs.148.12 lakh for the year ended 31 March 2022.
IIFL Wealth Management declares first interim dividend for FY22-23: IIFL Wealth Management declared first interim dividend for the financial year 2022-23 of Rs 20 per share of face value Rs 2 each. It has fixed record date as 2 June 2022 for this purpose and the interim dividend will be paid on or before 23 June 2022.
Power Finance Corporation net profit rises 10%: State owned Power Finance Corporation has reported a 10 percent year on year increase in consolidated profit after tax to Rs 4,296 crore for the quarter ended March. Consolidated revenue witnessed a modest improvement of four percent to Rs 18,853 crore. Lower finance costs and lower impairment on financial instruments more than compensated for the higher loss on transaction exchange. The company has declared a final dividend of Rs 1.25 per share of Rs 10 each in addition to a dividend of Rs 10.75 already paid during FY2021-22.
Moneycontrol News
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