Oil India, Bharti Airtel, Nestle India, Hero MotoCorp, other important stocks to track on Tuesday
Stocks To Track: Domestic equity benchmarks Nifty50 and Sensex are all set to begin a holiday-truncated trading week on Tuesday, May 21, a day after stock exchanges BSE and NSE remained shut for a day for voting under the fifth phase of the ongoing Lok Sabha elections. Here are some of the stocks likely to be in focus in Tuesday's trade.
Stocks To Track: Gift Nifty at around 8:08 am traded in the green, enjoying a premium of 0.23 per cent or 52.1 points at 22,596, suggesting a positive opening on the D-Street today (Tuesday, May 21). The stock exchanges BSE and NSE observed a holiday on Monday for Phase 5 voting under the ongoing 2024 general elections. Here are some of the stocks likely to be on investors' watchlist on Tuesday:
130+ companies scheduled to report quarterly earnings on Tuesday
More than 130 companies are scheduled to report their financial results for the January-March period on May 21, including JK Tyre & Industries, IRCON International, Tilaknagar Industries, Arvind Fashions, Sadbhav Engineering, Religare Enterprises, RateGain Travel Technologies, PI Industries, Morepen Labs, Metropolis Healthcare, and VA Tech Wabag.
TCS COO & ED N Ganapathy Subramaniam's term ends
TCS has said that its Chief Operating Officer and Executive Director N Ganapathy Subramaniam's has ended on May 19, 2024.
Bharti Airtel in focus
Airtel Africa has said that its subsidiary, Bharti Airtel International (Netherlands) BV, has repaid in full the 5.35 per cent Guaranteed Senior Notes maturing on May 20, 2024. The payment of $550 million was made exclusively out of cash reserves at the holding company (HoldCo) and is a continuation of its strategy to reduce external foreign currency debt, it said.
Airtel's Africa EBITDA to contract by 20%, overall group earnings to slow down: S&P Global
Bharti Airtel's Africa EBITDA is expected to be reduced by about 20 per cent in the current fiscal year, and register slow overall earnings growth, according to credit rating agency S&P Global.
IRFC Q4 PAT grows 34% to Rs 1,717 crore, board gives nod to Rs 50,000 crore fund-raising plan
Indian Railway Finance Corporation (IRFC) has reported a 34 per cent rise in its net profit to Rs 1,717.3 crore for the quarter ended March 31 on the back of higher income. The company's quarterly income expanded to Rs 6,477.9 crore from Rs 6,230.2 crore a year ago.
Oil India posts 18% rise in Q4 PAT; PSU oil company declares 1:2 bonus
State-owned Oil India Ltd (OIL) has registered an 18 per cent jump in consolidated net profit to Rs 2,332.9 crore for the January-March period on the back of higher crude oil prices. Its board has declared a bonus issue of 1:2 as well as a final dividend of Rs 3.75 per equity share for FY24.
Hero MotoCorp plans to expand EV range to increase customer base
Hero MotoCorp is looking to expand its presence in the electric two-wheeler segment as it aims to introduce new models below its current range to cater to a broader set of customers, as per a senior company official. The country's largest two-wheeler maker currently sells two electric scooters under its Vida range, priced between Rs 1 lakh and Rs 1.5 lakh.
"We are expanding our portfolio in the first half of this year (current fiscal)..Into the mid and the mass segment as well," Hero MotoCorp Chief Business Officer-Emerging Mobility BU Swadesh Srivastava said on a call with analysts.
Godrej Properties acquires 10 land parcels in FY24
In a bid to expand the business, Godrej Properties acquired 10 land parcels, of which eight were outright, last financial year to build housing projects worth over Rs 21,000 crore.
The realty developer has set a target for this fiscal to buy more parcels that can generate sales bookings of Rs 20,000 crore.
Data Patterns (India) Q4 PAT up 40%
Data Patterns (India) has reported a 40 per cent rise in its profit after tax to Rs 71.4 crore for the quarter ended March 31. For the full financial year, its profit after tax surged 47 per cent to Rs 181.7 crore.
PNB Housing Finance expects 17% loan growth in FY25
PNB Housing Finance aims to grow its portfolio by 17 per cent in the current financial year on the back of the increase in its branch network and focus on affordable housing loans.
The housing finance company has enough capital to sustain this kind of high growth, PNB Housing Finance managing director Girish Kousgi told news agency PTI.
DLF rental arm DCCDL's office rental income rises 7% to Rs 3,460 crore in FY24
DLF's joint venture firm DCCDL's rental income from office buildings increased seven per cent annually to Rs 3,460 crore in the last fiscal year, driven by rent appreciation and expansion of the asset portfolio.
DCCDL is a joint venture between DLF Ltd and Singapore's sovereign wealth fund GIC.
Dr Reddy's, Sun Pharma, Aurobindo recall products in US
Drug makers Dr Reddy's Laboratories, Sun Pharma and Aurobindo Pharma are recalling products in the US market due to manufacturing issues, as per the latest Enforcement Report of the US Food and Drug Administration (USFDA).
Tata Motors group hikes annual investment outlay
Tata Motors group has raised its investment outlay for FY25 to Rs 43,000 crore for new products and technologies, with its British arm Jaguar Land Rover absorbing the maximum share, according to a senior company official.
In FY24, Tata Motors group had given a guidance of three billion pound investment for Jaguar Land Rover (about Rs 30,000 crore) and Rs 8,000 crore for Tata Motors -- a total of about Rs 38,000 crore.
Nestle India shareholders reject proposal to hike royalty payment to parent firm
Consumer products firm Nestle India's shareholders have rejected a proposal by the company to increase the amount of a royalty payment to its parent firm.
Last month, Nestle India's board approved increasing royalty payment to its parent firm Societe des Produits Nestle S.A (licensor) by 0.15 per cent per year for the next five years.