Despite weak global cues and all eyes on RBI Governor Shaktikanta Das’ unscheduled speech at 10am, Indian benchmark indices opened on a positive note on Wednesday, May 5. At 09:02 IST, the BSE Sensex was up 397.51 points or 0.82 percent at 48,651.02, while the Nifty was up 134.90 points or 0.93 percent at 14,631.40.
Top stock to look for the day:
Larsen &Toubro Infotech: The company reported a consolidated profit of Rs 545.7 crore in Q4FY21, as oppposed to Rs 519.3 crore in the same quarter in the previous year. The revenue rose to Rs 3,269.4 crore from Rs 3,152.8 crore.
Greaves Cotton: The company has reported a higher consolidated profit of Rs 13.65 crore in Q4FY21, which wasRs 0.55 crore in Q4FY20. Revenue jumpedto Rs 520.4 crore from Rs 386.19 crore.
Procter & Gamble Hygiene and Health Care: The American multinational’s profit stood at Rs 98.33 crore in Q3 FY21, which was Rs 91.1 crore in Q3FY20. Their revenue increasedto Rs 759.66 crore from Rs 656.05 crore. The company also declared a special interim dividend of Rs 150 per equity share for FY 2020-21.
Ambuja Cements: Life Insurance Corporation of India (LIC) acquired 5.22 lakh equity shares of the company via open market transaction on May 3. Hence, increasing stake to 5.01 percent from 4.99 percent earlier.
Adani Total Gas: The company reported a consolidated profit of Rs 143.73 crore in Q4FY21, earlier recorded at Rs 121.41 crore in the same period last year. Their revenue also increased to Rs 614.47 crore from Rs 490.32 crore.
Hindustan Aeronautics Limited: The Indian state-owned aerospace and defence company and Rolls Royce have signed an MoU to establish packaging, installation, marketing and services support for Rolls-Royce MT30 marine engines in India.
RBL Bank: The private lender reported a profit of Rs 75.34 crore in Q4FY21 against Rs 114.36 crore in Q4FY20. However, net interest income fell to Rs 906.04 crore from Rs 1,020.98 crore.
IIFL Securities: The company reported a higher consolidated profit of Rs 77.31 crore in Q4FY21, which was Rs 37.25 crore in Q4FY20. Its revenue also jumped to Rs 238.12 crore from Rs 196.53 crore.
Elantas Beck India: The company reported a profit of Rs 18.12 crore in Q1CY21 as compared to Rs 13.3 crore in the same quarter last year. Its revenue jumped to Rs 129.08 crore from Rs 105.18 crore.
Adani Ports and Special Economic Zone: The company reported a higher consolidated profit of Rs 1,320.69 crore in Q4FY21 against Rs 340.21 crore in Q4FY20. Their revenue increased to Rs 3,607.9 crore from Rs 2,921.19 crore. Among other news, Deepak Maheshwari resigned as Chief Financial Officer (CFO) of the company.
Satin Creditcare Network: The company received a senior loan facility of USD 5 million from Oesterreichische Entwicklungsbank – OeEB, Austria through external commercial borrowing channels.
EIH Associated Hotels: The company reported a loss of Rs 0.95 crore in Q4 FY21 against a profit at Rs 10.74 crore in the corresponding period. However, it’s revenue fell to Rs 48.2 crore from Rs 70.6 crore.
Mirc Electronics: According to bulk deals data Bennett Coleman & Co Ltd sold 31,23,721 equity shares of the company at Rs 14.91 per share on the NSE.
Ashapura Minechem: Equity Intelligence India-owned by Porinju Veliyath sold 650 equity shares of the company via open market transaction on May 4, reducing the stake from 3.2605 percent to 3.2597 percent earlier.
Maharashtra Seamless: L&T Mutual Fund sold 14,04,024 equity shares or 2.1 percent stake of the company via open market transaction on April 30. Reducing stake to 2.92 percent from 5.02 percent earlier.
List of companies which are going to declare their quarterly results:
Angel Broking, Blue Dart Express, Ceat, Adani Enterprises, Tata Steel, Coral India Finance & Housing, ABB Power Products and Systems India, Adani Green Energy, Craftsman Automation, Gillette India, Deepak Nitrite, Kirloskar Ferrous Industries, Integra Garments & Textiles, JM Financial, Maithan Alloys, Surana Solar, Megasoft, Oracle Financial Services Software, Sangam (India) and Shalby among others will release quarterly earnings on May 5.