Indian markets are set for a lower start on Monday based on mixed ques from Asian peers.The trends on SGX Nifty indicate a flat to negative start for the broader index in India as the Nifty futures were trading 74.50 points or 0.49 percent lower at 15,151.00 level on the SGX at 8:00 AM IST, cncbctv18.com reported.
Top stock to look for the day:
Arvind Ltd: The company plans to raise capital of up to Rs 200 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis.
JSW Steel: The company’s Q4FY21 consolidated net profit rose to Rs 4,191 crore from Rs 188 crore. Revenue from operations jumped 50.6 percent to Rs 26,934 crore from Rs 17,887 crore, YoY.
Cochin Shipyard: The ship builder has extended the suspension of its operations till May 30, 2021, in Kerala.
Hero MotoCorp: The company will resume production at all its manufacturing plants in the country starting Monday, May 24. They had earlier shut operations temporarily due to the ongoing coronavirus pandemic.
Bharat Parenterals: Drugs Controller General of India (DCGI) approved the company to manufacture favipiravir oral suspension, to be used for the treatment of COVID-19 patients.
Punjab & Sind Bank: After eight consecutive quarters of losses, the state owned bank turned profitable in Q4FY21. The bank posted a net profit of Rs 161 crore on the back of improvement in recoveries and decline in bad loans.
Gayatri Highways: The company has proposed to procure 13 percent of equity share capital in HKR Roadways from the latter’s existing shareholder.
NBCC (India): The creditors’ panel of Jaypee Infratech will meet today to discuss submissions made by state-owned NBCC. The move comes after strong objections by the Suraksha group that also warned of legal recourse in case voting on its offer does not materialise as scheduled.
Amber Enterprises India: The company reported a higher consolidated profit at Rs 76.47 crore in Q4FY21 against Rs 62.82 crore in the same period last year. Revenue rose to Rs 1,598.4 crore from Rs 1,315.18 crore YoY.
Shree Cement: The company’s Q4FY21 profit increased 30.5 percent to Rs 767.6 crore from Rs 5,88.1 crore, while revenue increased 22.2 percent to Rs 3,930.8 crore from Rs 3,217.5 crore, YoY.
Amara Raja Batteries: The company’s Q4FY21 net profit increased 38 percent to Rs 189 crore from Rs 137 crore, while revenue jumped to Rs 2,103 crore from Rs 1,581 crore, YoY.
Natco Pharma: The company has received USFDA approval for generic Lenalidomide capsules that can be used for the treatment of multiple myeloma, mantle cell lymphoma and myelodysplastic syndromes for adults.
Multi Commodity Exchange Of India Ltd: The exchange’s Q4F21 net profit fell 41.31 percent to Rs 38.44 crore from Rs 65.50 crore. While consolidated net income dropped to Rs 108.46 crore from Rs 134.94 crore, YoY.
Adani Green Energy: The company’s subsidiary Adani Renewable Energy Holding Four Ltd has transferred 74 percent shareholding of Mundra Solar Energy Ltd to Adani Tradecom LLP.
PowerGrid Corporation of India: The company’s board and committee of creditors has approved investments totalling Rs 2,202 crore for various power transmission projects.
Minda Industries: The company’s board has approved the acquisition of 27.55 percent stake in of special purpose vehicle (SPV) CSE Dakshina Solar Pvt Ltd for Rs 27 lakh.
United Spirits: The company reported a higher consolidated profit at Rs 203.3 crore in Q4FY21 against Rs 49.3 crore Q3FY21. Revenue rose 12.1 percent to Rs 2,230.4 crore from Rs 1,990.5 crore, YoY.
Akzo Nobel India: The company’s Q4FY21 profit rose to Rs 74.25 crore from Rs 54.08 crore, while revenue increased to Rs 781.35 crore from Rs 581.27 crore, YoY.
List of companies which are going to declare their quarterly results:
Barbeque-Nation Hospitality, Dalmia Bharat Sugar and Industries, Grasim Industries, India Cements, JK Paper, India Cements Capital, Mahanagar Gas, Hindustan Fluorocarbons, IG Petrochemicals, Ramco Cements, Ramco Industries and Wall Street Finance among others will release their quarterly earnings on May 24.