Stocks to Watch: Adani Group, RIL, SBI, Dmart, Railtel, Bandhan Bank, PSBs

Stocks to Watch Today: The BSE Sensex and the NSE Nifty seem poised for a marginally positive start following a strong pullback in the US markets on Friday. As of 07:20 AM, the SGX Nifty May futures quoted at 15,853 as against the spot Nifty close of 15,782 on May 13.

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

Q4 Results Today: Bharat Forge, Fino Payments Bank, GlaxoSmithKline Pharma, MCX India, RateGain Travel Technologies, Raymond, TGB Banquets, Uttam Sugar and VIP Industries are some of the notable companies scheduled to announce Q4 results on today.

Adani Group, Ambuja Cement, ACC: Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim’s stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore). It will make an open offer to buy 26 per cent in these two companies from non-promoter shareholders. The group outbid UltraTech and JSW group to enter the industry and also emerge as the country’s second-largest cement manufacturer. READ MORE

Adani Enterprises: The company will pick a 49 per cent stake in Raghav Bahl-curated digital business news platform Quintillion Business Media Pvt Ltd (QBML) for an undisclosed sum. The company’s unit, AMG Media Networks, had earlier in March announced its foray into the media business by acquiring an unspecified minority stake in QBML. READ MORE

Reliance Industries (RIL): The company plans to acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters. The Mukesh Ambani led company plans to build a portfolio of 50 to 60 grocery, household and personal care brands within six months. READ MORE

HCL Technologies: The IT services company plans to double its headcount in nearshore locations over the next 3-5 years, CEO C Vijayakumar said and asserted that the Russia-Ukraine war has not impacted demand from Europe. The company currently employs about 10,000 people in all its nearshore locations, globally. READ MORE

Escorts: The company has lined up a capex of up to Rs 400 crore for the ongoing fiscal for new product introduction and creation of production capacity for the same. “Capex right now, our initial estimate will be about Rs 350 to Rs 400 crore (for FY23) mainly in both capex on the manufacturing side as well as on the product side,” Escorts Ltd Group CFO Bharat Madan told PTI. READ MORE

Meanwhile, Escorts reported a 28.4 per cent decline in consolidated net profit at Rs 189.98 crore in the fourth quarter ended March 2022, impacted by lower sales. Total revenue was down 15.7 per cent YoY at Rs 1,878.51 crore. READ MORE

SBI: The country’s largest, SBI has hiked its marginal cost of funds based lending rate (MCLR) by 10 basis points (bps) across tenures, effective May 15. This is the second time the state-owned lender has raised its MCLR in as many months. READ MORE

Tech Mahindra: The IT company reported a 39.2 per cent growth in net profit at Rs 1,506 crore for the fourth quarter of FY22. Revenue buoyed by growth in both its telecom and enterprises segment was up 24.5 per cent YoY at Rs 12,116 crore. READ MORE

Maruti Suzuki: The company plans to invest over Rs 11,000 crore to set up the first unit spread across 800 acres at IMT Kharkhoda in Sonepat (Haryana). However, the company has also cautioned that future investment will depend on the state of India’s auto sales which have been declining over the last four years. READ MORE

Avenue Supermarts (Dmart): The company’s net profit rose 7.2 per cent to Rs 466.35 crore in the quarter ended March 2022 when compared with Rs 434.95 crore in the corresponding quarter a year ago. Total income was up 17.5 per cent YoY at Rs 8,645.45 crore from Rs 7,355.68 crore.

Union Bank of India: The PSU lender’s net profit was up 8.3 per cent YoY to Rs 1,440 crore in the fourth quarter ended March 2022, on improvement of net interest margins. Net interest income (NII) expanded by 25.3 per cent to Rs 6,769 crore. READ MORE

Bandhan Bank: The private sector lender’s net profit soared 18.5-fold to Rs 1,902 crore in the January-March quarter of FY22 when compared with Rs 103 crore in the same period a year ago, aided by low provisions and higher net interest income (NII). NII increased 45 per cent YoY to Rs 2,539.8 crore. READ MORE

Bank of Baroda (BoB): The bank reported a net profit of Rs 1,779 crore for the Jan-March quarter of 2021-22 as compared to a net loss of Rs 1,047 crore during the same period last year. The profit was mainly due to lower provision for tax, which was Rs 120 crore as compared with Rs 3,726 crore during the same period last year. READ MORE

Railtel Corporation of India: The company has won a order worth Rs 220.55 crore for providing MPLS and Internet bandwidth for implementation of CCTV Surveillance System. It also received a Rs 26.87 crore order from the DRDO (Defence R&D Organisation).

Emami: The FMCG company reported a four-fold jump in consolidated net profit during the March quarter at Rs 354 crore as against Rs 87.7 crore a year ago, boosted by a minimum alternate tax (MAT) credit of Rs 288 crore. Revenue was up 5 per cent YoY at Rs 770 crore. READ MORE

JK Paper: The company reported a 25 per cent increase in consolidated net profit at Rs 170.17 crore for the fourth quarter ended March riding on higher sales volumes. Consolidated revenue surged 46 per cent YoY to Rs 1,430.87 crore. READ MORE

UCO Bank: The state-owned bank recorded a 290 per cent YoY increase in net profit at Rs 312.18 crore in the quarter ended March 2022. Net interest income increased by 17 per cent YoY to Rs 1,652.38 crore. READ MORE

Eicher Motors: The maker of Royal Enfield motorcycles, reported a 16 per cent increase in net profit in the fourth quarter of FY22 at Rs 610 crore when compared with Rs 526 crore the same period in 2020-21. Total revenue was at an all-time high at Rs. 3,193 crore, up 8.6 per cent YoY. READ MORE

Kalpataru Power: The company posted a 38.5 per cent decline in Q4 consolidated net at Rs 115 crore for the quarter ended March 2022 as against Rs 187 crore in the quarter a year ago. Total income was up 1.6 per cent at Rs 4,169 crore from Rs 4,104 crore.

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