Tata Motors, BPCL, Bharti Airtel, other stocks to track on Friday

Tata Motors, Eicher Motors, Cipla, Bank of Baroda and Dr Lal Pathlabs are among some 90 companies slated to report their financial results for the quarter as well as the year ended March 31, 2024, on May 10. 

Besides, Sapphire Foods India, VIP Industries, Dilip Buildcon, Thermax, Punjab & Sind Bank, Union Bank of India, Bank of India, Aarti Industries, Polycab India, and Venky's are also scheduled to report their numbers on the same day. 

State-run oil marketing company has reported a standalone net profit of Rs 4,224.2 for the quarter ended March 31, up 24.3 per cent sequentially. 

According to Zee Business research, BPCL's March-quarter net profit was estimated at Rs 5,474 crore.

Godrej Agrovet has clocked a three-fold jump in consolidated net profit to Rs 65.5 crore for the March quarter on the back of higher sales and a reduction in expenses.

Private sector telecom service provider Bharti Airtel's board is scheduled to meet on May 14 to consider a dividend. 

A section of Air India Express cabin crew has decided to withdraw strike and join back for duty after the airline assured to look into all the issues raised by the cabin crew, according to a report by news agency PTI citing sources.

The airline has agreed to withdraw the termination letters issued to 25 cabin crew and the management will review the cases as per service regulations, according to the report. 

Jewellery stocks are likely to be in the spotlight on the occasion of Akshaya Tritiya, a day that typically sees a rush of consumers buying gold ornaments. The future of gold remains dynamic, shaped by various global factors such as central bank policies, the geopolitical scenario, and economic indicators, according to Religare Broking. 

"While the gains seen in the current year are commendable, the historical trend of higher returns during turbulent periods highlights gold's potential to flourish amidst heightened uncertainty," according to the brokerage. 

Religare Broking suggests investors utilise every dip to accumulate gold through SIPs as long as the precious metal stays above Rs 68,500 per 10 grams. It is set an initial target at Rs 74,000, followed by Rs 78,000.

Conversely, a decisive break below the previous swing low of Rs.65,200 could disrupt the trend, potentially leading the yellow metal to retest the Rs 63,300-63,800 range, Religare Broking adds.   

Drug maker Abbott India has reported a quarterly net profit of Rs 287 crore over revenue of Rs 1,439 crore. Its EBITDA for the January-March period stands at Rs 330 crore.  

Zee Business analysts had pegged its March-quarter net profit at Rs 312 crore, revenue at Rs 1,471 crore, and EBITDA at Rs 390 crore.  

MGL registers a sequential fall of 16.5 per cent in standalone net profit to Rs 265 crore and its margin slides to 25.1 per cent from 28.6 per cent three months ago. Zee Business analysts had estimated MGL's March-quarter net profit at Rs 295 crore and margin at 26.9 per cent. 

Monthly data of a bunch of insurance companies has been released. While the new business premium of Life Insurance Corp (LIC) has more than doubled, it has increased 41 per cent for Max Life, 28 per cent for ICICI Pru, 26 per cent for SBI Life, and 4.3 per cent for HDFC Life in April, according to the data.   

Real estate company Brigade Enterprises will develop a residential project located at Old Madras Road in Bengaluru at a gross development value of Rs 600 crore.

Suryoday Small Finance Bank has clocked a 56 per cent jump in standalone net profit to Rs 61 crore with 29 per cent growth in NII to Rs 271 crore for the January-March period.

Its NIM is almost steady in double digits, at 10.1 per cent as against 10.4 per cent a year ago. 

VST Tillers & Tractors logs a 13 per cent fall in quarterly PAT, a 27 per cent drop in EBITDA, and a 240 bps decrease in margin to 13 per cent for the March quarter.

The farm equipment maker announced a final dividend of Rs 20 per share.