 "Trading")
Stocks to watch on May 8: Equity markets are preparing for a firm start on Monday as investors eye global cues and Q4FY23 earnings.
At 7:35 AM, SGX Nifty was at 18,148 level, up 24 points.
Elsewhere in Asia, most indices were positive after Wall Street's positive handover, with Australia's S&P/ASX 200 up 0.66 per cent, and South Korea's Kospi 0.88 per cent.
Japan's Nikkei, however, was lower after it resumed trading post a five-day holiday.
Here are the top stocks to watch in Monday's trade:
Earnings today: Aarti Industries, Apar Industries, Apollo Pipes, Avadh Sugar and Energy, Balkrishna Industries, Birlasoft, Canara Bank, Craftsman Automation, Exide Industires, Pidilite, UPL, and VIP Industries are among the top companies due to report their Q4FY23 earnings on Monday, May 8.
Earnings today: Aarti Industries, Apar Industries, Apollo Pipes, Avadh Sugar and Energy, Balkrishna Industries, Birlasoft, Canara Bank, Craftsman Automation, Exide Industires, Pidilite, UPL, and VIP Industries are among the top companies due to report their Q4FY23 earnings on Monday, May 8.
Aditya Birla Fashion, TCNS: Aditya Birla Fashion and Retail (ABFRL) has entered into a definitive agreement to acquire controlling stake (51 per cent) in TCNS Clothing for Rs 1,650 crore.
Dr Reddy's Labs: Dr Reddy's Laboratories Ltd, on Friday, announced the launch of Regadenoson injection, used as an agent in the imaging of heart muscle to check blood flow, in the US market.
PNC Infratech: The company has won an EPC project worth Rs 771.46 crore from Haryana Orbital Rail Corporation Limited.
Amara Raja Batteries: The company has bwegun work on ‘Amara Raja Giga Corridor’ that aims to produce Lithium Cell and Battery Packs with an ultimate capacity of up to 16GWh, and up to 5GWh, respectively.
Vardhman Textiles: The company's yarn production increased to 65,104 metric tonne at the end of Q4FY23 from 58,919 MT at the end of the corresponding quarter in the previous year. Yarn sales, meanwhile, increased to 65,936 MT during the quarter. However, sales of grey fabric and processed fabric dropped 7 per cent and 19.6 per cent YoY to 463 MT and 336 MT, respectively.
Thermax: Thermax Limited has bagged an order of Rs 271.50 crore from India’s biggest oil refinery in the private sector for mechanical balance of plant (MBoP) works for the captive power plant (CPP) at their new oil-to-chemical (O2C) facility in the western part of India
Bharat Forge: Kishore Saletore will step doen from the post of chief financial officer (CFO) with effect from closure of business hours on Friday, June 30, 2023. The Board has approved the appointment of Kedar Dixit as CFO and Key Managerial Person of the Company with effect from Saturday, July 1, 2023.
Result reaction
Paytm: The company, on Friday, posted a consolidated revenue of Rs 2,334 crore for the March quarter of FY23, up 51 per cent rise from Rs 1,540 crore posted in the March quarter of FY22. The company’s loss narrowed to Rs 168 crore from Rs 763 crore in the year-ago period.
Coal India: Coal India Ltd, the world's largest coal miner, on Sunday reported 17.7 per cent drop in its March quarter net profit to Rs 5,527.62 crore, on higher provision made for wage revision of employees. Coal production rose 7 per cent to 224.16 million tonne in the quarter ended March 31.
Bank of India: Public sector lender Bank of India’s (BoI) net profit more than doubled year-on-year (YoY) to Rs 1,350 crore for the quarter ended March 2023 (Q4FY23) on improvement in net interest income (NII). The board of directors declared a dividend of Rs 2.0 per share (Rs 10 each) for FY23, subject to shareholders' approval, the bank informed BSE.
Adani Power: The Adani Group company has posted around 13 per cent jump in consolidated net profit at Rs 5,242 crore for March quarter 2022-23. Total income however fell to Rs 10,795 crore from Rs 13,307 crore in the year-ago quarter. Total expenses were higher at Rs 9,897 crore as against Rs 7,174 crore a year ago.
Britannia: Britannia Industries’ net earnings in the January-March quarter of FY23 jumped 47.1 per cent to Rs 558.7 crore as its profit before interest, depreciation and tax (PBIDT) went up 42.7 per cent. This came on the back of softening input costs helping operating margin. The Nusli Wadia group firm’s revenue from operations in the quarter increased 13.3 per cent to Rs 4,023.2 crore amid significant distribution gains.
Dhampur Sugar: The company's total income stood at Rs 762.55 crore during Q4FY23, a rise of 41.35 per cent as compared to Rs 539.48 crore at the end of Q4FY22. Its net profit, meanwhile, came in at Rs 60.38 crore, up 103 per cent, as against net profit of Rs 29.72 crore reported last year.
TVS Electronics: The small-cap companu recorded a net profit of Rs 1.51 crore, recording a drop of 66.37 per cent YoY from Q4FY22's net profit of Rs 4.49 crore. The Board has recommended final dividend of Rs 2 per equity share, with record date fixed as July 29.
Zen Technologies: The Hyderabad-based company reproted total revenue of Rs 74.33 crore in Q4FY23 vs Rs 18.57 crore in Q4FY22. For the full fiscal year, its revenue surged 201 per cent to Rs 161.44 crore. The profit for the quarter, meanwhile, came in at Rs 17,27 crore (vs Rs 1.4 crore YoY).
Greenpanel Industries: The company reported total income of Rs 449.93 crore for Q4FY23, down 5 per cent from Rs 473.74 crore posted during the period ended March 31, 2022. The company also reported a 14.5 per cent YoY drop in profit at Rs.68.9260 crore.
Olectra Greentech: The company posted a net profit of Rs 2,781 crore for the quarter ending March 2023, as against PAT of Rs 1,746.58 crore. Revenue from operations, too, zoomed to Rs 36,840 crore, up from Rs 26,809.5 crore last year.
