Stocks in Focus on April 26: Biocon, Axis Bank to Tata Steel; here are the 5 newsmakers of the day
Domestic stocks market closed in a red on Thursday, April 25, 2019, but there were certain stocks that came in news after the market was closed for trading.
Domestic stocks market closed in a red on Thursday, April 25, 2019, but there were certain stocks that came in news after the market was closed for trading and can have an impact on the market after it reopens for trading purposes on Friday, April 26, 2019. Here is the list of five such stocks:
Biocon: The biopharmaceutical company on Thursday posted its the fourth quarter results of the financial year 2018-19 and reported a 64 per cent rise in its consolidated net profit to Rs213.7 crore against Rs130.4 crore for the corresponding period of the previous fiscal.
Axis Bank: The bank on Thursday presented its financial report for the fourth quarter of FY19 and reported a profit of Rs1,505.06 crore against the loss of Rs2,188.74 crore that the private lender posted in the corresponding period last year. Its NII grew by 20 per cent to 5705cr from 4730cr. Net NPA eased to 2.06 per cent against 2.36 per cent on a QoQ basis. Gross NPA went down to 5.26 per cent from 5.75 per cent on a QoQ basis.
Tata Steel: The second largest steel company in India after SAIL posted the financial report of the March quarter of FY19 and reported a decline of 84 per cent in profits, which declined from Rs14,688 crore to Rs2295 crore while revenue went up by 26 per cent from Rs33705 crore to Rs42,423 crore. Margins also eroded from 19 per cent to 17.7 per cent. Besides, its board approved the merger of Bamnipal Steel and Tata Steel BSL (formerly Bhushan Steel Ltd) into the company. The board has recommended a merger ratio of one equity share of Rs10 each of Tata Steel for every 15 shares of Rs2 each of Tata Steel BSL.
PVR/INOX Leisure: The stocks of these multiplex chains will remain in focus today as latest Marvel Movie Avengers Endgame will be released in India today. Besides English, the film will be released in Hindi, Tamil and Telugu.
Sun Pharma: Sun Pharma promoter Shanghvi Finance Pvt Ltd has released 1.25 crore mortgaged shares on April 9, 2019.