Indian benchmark indices are likely to open in the green on Monday as suggested by trends in SGX Nifty which indicate a gap-up opening for the index in India with a 107 points gain. The BSE Sensex on Friday ended at 49,206.47, up 256.71 points or 0.52 percent, while Nifty closed at 14,823.15, up 98.35 points or 0.67 percent.
Top stock to look for the day:
UltraTech Cement: The company reported lower consolidated profit at Rs 1,775.23 crore in Q4FY21 against Rs 3,240.23 crore in the corresponding quarter of the last fiscal. Its revenue rose to Rs 14,405.61 crore from Rs 10,854.48 crore YoY.
DCB Bank: The private sector scheduled commercial bank reported higher profit at Rs 77.9 crore in Q4FY21 against Rs 68.8 crore in the same period last year. However, the net interest income fell to Rs 311.2 crore from Rs 323.7 crore YoY.
Housing Development Finance Corporation: The housing finance major after the direction of Reserve Bank of India (RBI) to reduce its shareholding in HDFC ERGO to 50 percent or below. The company sold 44,12,000 equity shares or 0.62 percent of total paid up equity in HDFC ERGO General Insurance Company, to foreign partner ERGO International AG.
Thyrocare Technologies: The diagnostic services company reported consolidated profit at Rs 37.75 crore in Q4FY21 against loss of Rs 1.6 crore in Q4FY20. Its revenue rose to Rs 146.84 crore from Rs 101.44 crore YoY.
IDFC First Bank: The bank reported a higher profit at Rs 127.81 crore in Q4FY21 against Rs 71.54 crore in Q4Y20. Its net interest income jumped to Rs 1,960.26 crore from Rs 1,699.98 crore YoY.
Avenue Supermarts: The company reported a sharp higher consolidated profit at Rs 414.2 crore in Q4FY21 against Rs 271.5 crore in Q4FY20. Their income from revenue jumped to Rs 7,411.7 crore from Rs 6,255.9 crore YoY.
Bandhan Bank: The private lender reported a lower profit at Rs 103 crore in Q4FY21 against Rs 517.3 crore in the same quarter last year. Their net interest income increased to Rs 1,757 crore from Rs 1,680 crore YoY.
Maruti Suzuki India: The homegrown automaker’s maintenance shutdown which was until the May 9, is being extended till the May 16, 2021. The extension comes in view of the current pandemic situation in the country.
Nitin Spinners: The company reported a higher profit at Rs 42.85 crore in Q4FY21 against Rs 6.51 crore in March quarter ending last fiscal. Its revenue rose to Rs 511.58 crore from Rs 380.1 crore YoY.
Everest Industries: Mr. Pramod Nair has been appointed as the company’s Chief Financial Officer (CFO). Nair has close to 14 years of diverse experience in managing finance primarily in FMCG companies.
TT: The company cancelled Memorandum of understanding (MOU) for sale of spinning mill assets located at Rajula, Gujarat, to Resilient Cotspin, Bhavnagar, in the same state.
CSB Bank: The bank reported profit at Rs 42 crore in Q4FY21 against loss of Rs 59.7 crore in the same period last fiscal. Its net interest income rose to Rs 275 crore from Rs 157.5 crore YoY.
Jubilant Pharmova: The company’s subsidiary Jubilant Pharma received a favourable and unanimous judgment from the United States Court of Appeals. The ruling summarily affirms Jubilant’s earlier favourable rulings from the US Patent Office (PTAB) and the US International Trade Commission (ITC). The two rulings by the Appellate Court further deny the appeals filed by Bracco Diagnostics, Inc.
Navin Fluorine International: The company reported a lower consolidated profit at Rs 74.8 crore in Q4FY21 against Rs 272.7 crore in the corresponding period last year. Thier revenue rose to Rs 336.4 crore from Rs 276.6 crore YoY.
List of companies which are going to declare their quarterly results:
Artemis Medicare Services, Chambal Fertilisers & Chemicals, Escorts Finance, Gayatri Tissue & Papers, HSIL, Dai-Ichi Karkaria, JMC Projects (India), DE Nora India, Ganges Securities, HFCL, Venky’s (India), Intellect Design Arena, Sangam Renewables, Nutricircle, Oriental Aromatics, Onesource Ideas Venture, Paushak, PPAP Automotive, Satia Industries, Suryalakshmi Cotton Mills, Zydus Wellness, TTI Enterprise, and Inspirisys Solutions among others will release quarterly earnings on May 10.
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