Written by 4:33 am Stock Market Views: 3

Stocks to watch: Tata Motors, Axis Bank, IOC, Minda Corp, Shakti Pumps

Asia on tenterhooks for Fed, oil keeps climbing

By Administrator_India

Capital Sands

Nifty futures on the SGX were trading 82 points lower at 8.20 am, indicating a tepid start to Wednesday’s session.

Here are the top stocks to track in today’s session:

Earnings Today: IOC, Indiabulls Housing Finance, JK Tyre & Industries, Tanla Platforms and Zuari Agro Chemicals are among 25 companies slated to post their March quarter results today.

Tata Motors: Auto major Tata Motors reported a surprise consolidated net loss of Rs 7,605 crore for the quarter ended March 31, 2021, mainly on account of asset write downs in subsidiary Jaguar Land Rover (JLR). According to a consensus estimate of Bloomberg, Tata Motors was expected to report a net profit of Rs 2,774.10 crore.

Axis Bank: The government will sell nearly 2 per cent stake in Axis Bank held through Specified Undertaking of the Unit Trust of India (SUUTI), a move that’s expected to fetch around Rs 3,969 crore to the exchequer in divestment receipts. The government will sell its 1.21 per cent stake or 36 million shares in Axis Bank with the floor price set at Rs 680 a share.

Shakti Pumps India: The company reported a consolidated net profit of Rs 30.39 crore for the quarter ended March 31. The company had posted a loss of Rs 6.14 crore in the corresponding period of 2019-20.

Ujjivan Small Finance Bank: The lender on Tuesday reported an 86 per cent YoY jump in its net profit to Rs 136 crore for the last quarter of the fiscal ended in March 2021.

Blue Star: Cooling products maker Blue Star Ltd on Tuesday said it has incorporated a new wholly-owned subsidiary “Blue Star Climatech” to carry out manufacturing and deal in line with the mainline of business of the company.

GlaxoSmithKline Pharmaceuticals: The drug firm posted a consolidated net profit of Rs 14.33 crore for the fourth quarter ended March 2021 as against a net profit of Rs 138.07 crore for the corresponding period of the previous fiscal.

Minda Corp: Auto components maker Minda Corporation reported a consolidated profit after tax of Rs 12.92 crore for the March quarter against a loss of Rs 299.78 crore in the year-ago period.

Central Bank of India: The PSU lender said its shareholders have approved allotment of preference shares to the government for a Rs 4,800-crore capital infusion.

Adani Ports: The Competition Commission of India (CCI) gave nod to proposed acquisition of additional 25 per cent stake of Adani Krishnapatnam Port Ltd by Adani Ports and Special Economic Zone Ltd.

JSHL: Jindal Stainless Hisar (JSHL) reported an over three-fold jump in its consolidated net profit at Rs 350.65 crore for the quarter ended March 31, 2021, mainly on account of increased income.

Jaypee Infratech: Mumbai-based realty firm Suraksha group, which is in the race to acquire debt-laden Jaypee Infratech Ltd (JIL), has written to financial creditors and objected to extension of deadline for submissions of bids.

Torrent Pharma: Drug firm Torrent Pharma reported a 3.18 per cent YoY rise in its consolidated net profit to Rs 324 crore for the quarter ended March 31, 2021 mainly on the back of continued India business recovery momentum, and cost control.

Infosys, Majesco: IT services firm Infosys and Majesco, a cloud insurance software solutions provider, on Tuesday, announced a strategic collaboration to work together to help joint customers accelerate their digital transformation journey.

Laxmi Organic Industries: The company will set up a wholly-owned subsidiary company in United States.

JSW Energy: The wholly-owned subsidiary of the company, JSW Hydro Energy, has raised $707 million by allotment of dollar-denominated senior secured notes.

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