Stocks to Watch: Check out the companies making headlines before the opening bell.
Results for May 30. Jubilant Foods, Aurobindo Pharma, Campus Activewear, Coffee Day Enterprises, LT Foods (Daawat), DCM Shriram Industries, Delhivery, Dhampure Sugar, Dhani Services, Dish TV, Dixon Technologies, Dredging Corp, Eureka Forbes, Jindal Steel, Mawana Sugar, Mcleod Russel, Medplus Health, Natco Pharma, Navkar Corp, NBCC (India), Prudent Corporate Advisory Services, Radico Khaitan, SpiceJet.
Adani Defence Systems and Technologies to acquire stake in General Aeronautics: Adani Defence Systems and Technologies – a wholly owned subsidiary of Adani Enterprises – has signed a definitive agreement to acquire 50 percent stake in General Aeronautics on May 27. Adani Defence Systems and Technologies shall leverage its military drone and artificial intelligence capabilities and work with General Aeronautics for providing solutions for the agriculture sector. General Aeronautics is an agri platform solution provider, based out of Bengaluru, and incorporated in 2016. It provides robotic drones and drone based solutions for crop protection services, crop health, precision-farming and yield monitoring using artificial intelligence and analytics for the agricultural sector.
FSN E-Commerce (Nykaa) profit declines 33%. FSN E-Commerce (Nykaa) net profit declined 33 percent year on year to Rs 413 crore for March quarter due to a steep rise in marketing and other operating expenses. Revenue rose 55 percent to Rs 3,774 crore.
Astra Zeneca recommends final dividend for FY22: Astra Zeneca recommended a final dividend of Rs 8 per share of Rs 2 each for the financial year ended March.
Arvind Fashions revenue rises 34%: Arvind Fashions revenue rose 34 percent year on year to Rs 917 crore for March quarter led by a strong bounceback in demand and strong footfall, reflected in 20 percent like to like growth. The company reported a marginal profit of Rs 1 crore as compared to a loss of Rs 45 crore during the same period last year.
HUDCO profit jumps 42%: HUDCO consolidated net profit jumped 42 percent year on year to Rs 746.85 crore for the March quarter aided by lower finance costs and impairment credit. Revenue for the housing development company remained saw a marginal decline of 1.8 percent to Rs 1,727 crore. The company declared a final dividend of Rs 2.75 per share @ 27.5 percent for the financial year ended March.
Purvankara declares a loss of Rs 20 crore. Purvankara declared a loss of Rs 20 crore for the quarter ended March as compared to a profit of Rs 9 crore a year ago due to higher sub-contractor and inventory costs. Revenue dipped five percent to Rs 295.5 crore. The company recommended a final dividend of Rs 5 per share of Rs 5 each for the financial year ended March.
TCI Express profit declines 15.6%: TCI Express net profit declined 15.6 percent year on year to Rs 35.93 crore for the March quarter. Regional restrictions due to COVID impacted the performance of the company. Revenue improved 7.3 percent to Rs 300 crore. The company recommended a dividend of Rs 2.00 per share of Rs 1 each for the financial year ended March.
Sun TV profit falls 16%: Sun TV consolidated net profit fell 16 percent year on year to Rs 410 crore for March quarter due to higher operating and other expenses. Revenue inched higher by seven percent to Rs 857 crore.
TCNS Clothing reports a loss of Rs 5.8 crore: TCNS Clothing reported a loss of Rs 5.8 crore for the March quarter against a profit of Rs 3.9 crore during the same period last year due to higher costs of raw materials, employee expenses, SG&A and other expenses. The company reported a growth of six percent in its revenue at Rs 234 crore.
Welspun Corp profit slumps 30.4%: Welspun Corp net profit slumped 30.4 percent year on year to Rs 263.5 crore for March quarter due to higher global energy prices and rise of commodity prices. Revenue for the quarter dipped 1.2 percent to Rs 2,011 crore. The company recommended a final dividend of Rs 5 per share for FY22.
United Spirits profit declines 12%: United Spirits consolidated net profit declined 12 percent to Rs 178.6 crore for March quarter due to higher raw material and marketing expenses. Revenue showed a marginal growth of 1.2 percent to Rs 7,767 crore.
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