Shriram Transport, Mahanagar Gas, Indian Hotels among Key Stocks in Focus Today
Representative image (Reuters)
Sensex on Wednesday closed 413.89 points lower at 33,956.69. Whereas, the NSE Nifty ended 120.80 points down at 10,046.65. The global stocks witnessed a boost as lockdown relaxation in a number of countries have raised investor hopes of a relatively quick global economic recovery.
Tuesday saw ICICI Bank stocks falling around 3 per cent, followed by HDFC Bank, Bharti Airtel, Bajaj Finance, Axis Bank and Kotak Bank. Whereas, Sun Pharma, M&M, IndusInd Bank were among the top gainers.
21 of the 30 shares of Sensex were in the red zone during the closing period and the remaining nine were in green.
For Thursday, one should keep an eye on the following stocks Century Textiles, Shriram Transport, Mahanagar Gas, Indian Hotels. These are among those companies who released their Q4 results for the financial year 2019-20 yesterday after the market closed.
1. Shriram Transport: The company in its regulatory filing stated that for the March 2020 quarter it has recorded a 70 percent dip in its consolidated net profit at Rs 223.38 crore. Last year, in the same quarter, Shriram Transport had recorded profit of Rs 746.04 crore. Its shares closed 2.57 percent up at Rs 635.45 apiece on the BSE.
2. Mahanagar Gas: For the January-March quarter, the company has reported that their net profit rose by 24.82% in comparison to the March 2019 quarter. Though, the sales have seen a 4.98% drop. The company has reported a net profit of 45.23% for the year 2019-20.
3. Indian Hotels: The net profit for Tata group hospitality arm Indian Hotels Company Ltd (IHCL) has dropped by 37.75 percent for the March quarter. The company in its regulatory filing stated that it had recorded a net profit of Rs 122.56 crore in the same period last year. For the fiscal year ended March 2020, its net profit came in at Rs 363.74 crore as against Rs 296.12 crore for the previous year. Total income stood at Rs 4,595.56 crore for the fiscal year ended March this year, against Rs 4,595.38 crore a year ago.
4. HSIL: In its regulatory filing in BSE, the company stated that it saw a 89.91 percent decline in its net profit at Rs 3.38 crore for January-March quarter. Meanwhile, the company saw a growth in its revenue from operations. It went up by 15.85 percent to Rs 1,859.07 crore in 2019-20 from Rs 1,604.76 crore in 2018-19.
5. Century Textiles and Industries: On Wednesday in its regulatory filing, the company said that its net profit has dropped by 43.94 per cent at Rs 79.88 crore for the March quarter. Last year in the same quarter, the company saw profit of Rs 142.50 crore.