Stocks to Watch: Infy, L&T, PowerGrid, BHEL, NTPC, IDBI Bank, Steel makers

Stocks to Watch Today: Bharat Electronics, Data Patterns (India), SAIL and Zomato ahead of Q4 earnings on Monday.

Stocks to Watch Today: The BSE Sensex and the NSE Nifty may start the day on a positive note as global cues were slightly encouraging this morning. As of 07:05 AM, the SGX Nifty May futures quoted at 16,310 as against the spot Nifty close of 16,266 on Friday.

In the primary market, eMudhra IPO will be open for subscription for the second day today. The IPO in the price band of Rs 243 – 256 was subscribed up to 48 per cent at the end of Day 1 of the offer period. 

Meanwhile, these are the stocks that are likely to see some action in trades on Monday.

Earnings Watch: Bharat Electronics (BEL), Data Patterns (India), Igarashi Motors, Patel Engineering, Ramco Cements, SAIL, Thomas Cook, TTK Healthcare and Zomato are some of the notable companies scheduled to announce Q4 results on Monday.

Infosys: The IT services major on Sunday announced the reappointment of Salil Parekh as the CEO and MD of the company for the period of five years. Parekh will be the only non-founder CEO to have managed to be at the helm of the company for a second term. READ MORE

Steel Stocks: The export levy imposed on steel by the government on Saturday may prompt steel companies to review massive capacity expansion plans. Major private sector steel producers said that the capacity expansion plans were based on assumptions in the sales mix – between domestic and export markets – which has now gone haywire. READ MORE

Larsen & Toubro (L&T): The engineering giant is looking to divest its exposure to road and power concessions and incubate digital and e-commerce businesses as part of its new five-year plan ending FY26. The base year for the plan was FY21. The company also aims to touch revenue of Rs 2.7-3 trillion, achieve order inflow of Rs 3.4 trillion by FY26. READ MORE

Paytm: India's Paytm Payments Bank, which facilitates transactions on mobile commerce platform Paytm, expects the central bank to allow it to resume taking on new customers in the next few months, a top executive told Reuters. READ MORE

LIC Housing Finance: With an upturn in the real estate cycle, the company plans to step up project finance lending and increase the share of such disbursements to 10 per cent in FY23, from the present-day 5 per cent.

NTPC: The state-owned power giant posted a near 12 per cent jump in consolidated net profit at Rs 5,199.51 crore for the March 2022 quarter as against Rs 4649.49 crore in the quarter ended on March 2021. Total income surged over 19 per cent to Rs 37,724.42 crore from Rs 31,687.24 crore. READ MORE

PowerGrid Corporation of India: The company’s Q4 net profit jumped 22.9 per cent to Rs 4,320.64 crore in the quarter ended March 2022 when compared with Rs 3,515.61 crore in the corresponding quarter a year ago. Total income was up marginally by 2.2 per cent at Rs 10,941.93 crore from Rs 10,705.49 crore.

Gulf Oil Lubricants: The company posted a 6 per cent rise in Q4FY22 net profit at Rs 63.39 crore when compared with Rs 59.79 crore in Q4FY21. Total income was up 22.7 per cent at Rs 650.66 crore from Rs 530.08 crore.

SBI: The country’s largest lender is changing its strategy to recover bad loans up to Rs 500 crore. SBI plans at doing “pool” sales of mid-size units, small and medium enterprises (SMEs), and retail bad loans. READ MORE

IDBI Bank: The private lender has entered into a share purchase agreement with Ageas Insurance International, wherein the bank is looking to sell its remaining stake of 25 per cent in private sector life insurer Ageas Federal Life Insurance for Rs 580 crore, making Ageas one of the few foreign insurers to raise its stake in its Indian insurance joint venture to 74 per cent, after the government raised the FDI cap in the insurance sector. READ MORE

Indiabulls Housing Finance: The company’s net profit rose by 11.2 per cent to Rs 307 crore for the fourth quarter ended March 2022 from Rs 276 crore in Q4FY21. Total income declined 7.7 per cent YoY to Rs 2,189 crore from Rs 2,372 crore. 

Amara Raja Batteries: The auto component maker reported a 47.8 per cent steep fall in consolidated net profit at Rs 98.85 crore in the fourth quarter ended March 2022 when compared with Rs 189.38 crore in the year ago period. Total income, however, was up 3.7 per cent at Rs 2,180.96 crore on a YoY basis.

Jet Airways: The aviation firm has received the revalidated air operator certificate (AOC) from the DGCA, fulfilling all the conditions under the National Company Law Tribunal approved resolution plan. The airline intends to re-commence commercial operations in July-September quarter. READ MORE

Zydus Lifescience: The company reported a 41.5 per cent fall in Q4 net profit at Rs 397.4 crore for the quarter ended March 2022 as against Rs 679 crore in the corresponding quarter a year ago. Total income grew by 5 per cent YoY to Rs 3863.8 crore. READ MORE

BHEL: The company reported a sharp turnaround in earnings on a standalone basis for the quarter ended March 2022 with a net profit of Rs 908.87 crore as against a net loss of Rs 1,032.88 crore in the quarter ended March 2021. Total income rose 12.4 per cent YoY to Rs 8,061.68 crore.

Uttam Galva Steels: The company’s net loss expanded to Rs 75.50 crore in Q4FY22 when compared with a net loss of Rs 64.05 crore in Q4FY21. Total income, however, was up 10.4 per cent at Rs 215.24 crore from Rs 194.963 crore.

Gati: The company sharply narrowed down its net loss to Rs 5.14 crore in the quarter ended March 2022 as against a net loss of Rs 149.01 crore in the year ago period. Total income, however, was down 25.4 per cent at Rs 60.83 crore from Rs 81.53 crore.

Ishan Dyes & Chemicals: The company reported a net loss of Rs 1.21 crore for the quarter ended March 2022 as against a net profit of Rs 3.49 crore in the corresponding quarter a year ago. Total income, however, grew by 18.7 per cent to Rs 33.39 crore from Rs 28.14 crore.

Stocks in F&O ban: BHEL, Delta Corp, GNFC, Indiabulls Housing Finance and Punjab National Bank (PNB) are in F&O ban period on Monday.