Stocks to Watch Today: The Nifty futures contract traded on the Singapore Exchange indicates a positive start for domestic equities. The contract was trading at 18,358.50, up 23 points or 0.13% from the previous close.
Earnings Watch: Amara Raja Batteries, Ashok Leyland, Bajaj Electricals, Bikaji Foods International, Biocon, CMS Info Systems, Dixon Technologies, Dreamfolks Services, Fortis Healthcare, Gabriel, Gandhi Special Tubes, Indoco Remedies, JSW Energy, Kothari Products, Lyka Labs, Metro Brands, NMDC, Polyplex Corporation, Radhe Developers, Schneider Electric Infrastructure, Thyrocare Technologies, TN Petro, TTK Healthcare and Unichem Labs are few of the prominent companies scheduled to announce Q4 results on Tuesday.
PB Fintech (PolicyBazaar): The company reported a net loss of Rs 9 crore for the quarter ended March 2023, down sharply when compared with a net loss of Rs 220 crore in Q4FY22. Consolidated revenue grew by 61 per cent YoY to Rs 869 crore. The company informed that insurance premium grew by 65 per cent YoY and credit disbursal by 53 per cent YoY in the quarter under review.
BPCL: The state-owned oil marketing company reported a 159 per cent growth in net profit of Rs 6,478 crore for the fourth quarter of the current 2022-23 (Q4FY23), compared to the Rs 2,501 crore in the same period a year back. Consolidated revenue from operations rose by 8.1 per cent to Rs 1,34,000 crore from Rs 1,23,000 crore.
JSW Steel: The company has reached an in-principle agreement to establish a 50:50 joint venture (JV) with Japan’s JFE Steel to manufacture cold rolled grain oriented electrical steel (CRGO) in India.
Vedanta: The company’s board announced its first interim dividend worth Rs 18.50 per share, amounting to Rs 6,877 crore for FY24. The company has fixed May 30 as the record date of the purpose of payment of dividend.
Hindustan Unilever (HUL): The FMCG major in association with Genpact have launched Be.Seen - a program to help scale businesses owned by minority and under-represented groups in India. HUL and Genpact aim to enable these businesses to eventually get absorbed into the supply chains of large consumer companies, including that of HUL.
Asian Hotels (East): The promoters of Hyatt group of hotels reported a turnaround in Q4FY23 with a net profit of Rs 5.73 crore. The company had posted a net loss of Rs 1.80 crore in Q4FY22. Total income rose by 73.5 per cent YoY to Rs 28.72 crore from Rs 16.55 crore.
Dhanlaxmi Bank: The Kerala-based bank posted a 63 per cent growth in Q4 net at Rs 38.17 crore for the fourth quarter of the financial year 2022-23 as against Rs 23.42 crore during the same quarter of FY22. Total income rose by 5.5 per cent YoY to Rs 1,145.75 crore.