Stocks to Watch on Monday, May 23, 2023: The key Indian benchmark indices are likely to start Tuesday's trade on a flat note, indicates the SGX Nifty. The focus this week will be on the last set of Q4 earnings, Rupee movement and the progress on the US debt ceiling talk, as the June 01 deadline nears.
At 07:30 AM, the SGX Nifty June futures quoted at 18,447, indicating an opening gain of 50-odd points.
Earnings Watch: Amara Raja Batteries, Ashok Leyland, Bajaj Electricals, Bikaji Foods International, Biocon, CMS Info Systems, Dixon Technologies, Dreamfolks Services, Fortis Healthcare, Gabriel, Gandhi Special Tubes, Indoco Remedies, JSW Energy, Kothari Products, Lyka Labs, Metro Brands, NMDC, Polyplex Corporation, Radhe Developers, Schneider Electric Infrastructure, Thyrocare Technologies, TN Petro, TTK Healthcare and Unichem Labs are few of the prominent companies scheduled to announce Q4 results on Tuesday.
PB Fintech (PolicyBazaar): The company reported a net loss of Rs 9 crore for the quarter ended March 2023, down sharply when compared with a net loss of Rs 220 crore in Q4FY22. Consolidated revenue grew by 61 per cent YoY to Rs 869 crore. The company informed that insurance premium grew by 65 per cent YoY and credit disbursal by 53 per cent YoY in the quarter under review.
BPCL: The state-owned oil marketing company reported a 159 per cent growth in net profit of Rs 6,478 crore for the fourth quarter of the current 2022-23 (Q4FY23), compared to the Rs 2,501 crore in the same period a year back. Consolidated revenue from operations rose by 8.1 per cent to Rs 1,34,000 crore from Rs 1,23,000 crore.
JSW Steel: The company has reached an in-principle agreement to establish a 50:50 joint venture (JV) with Japan’s JFE Steel to manufacture cold rolled grain oriented electrical steel (CRGO) in India. READ MORE
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Vedanta: The company’s board announced its first interim dividend worth Rs 18.50 per share, amounting to Rs 6,877 crore for FY24. The company has fixed May 30 as the record date of the purpose of payment of dividend.
Hindustan Unilever (HUL): The FMCG major in association with Genpact have launched Be.Seen - a program to help scale businesses owned by minority and under-represented groups in India. HUL and Genpact aim to enable these businesses to eventually get absorbed into the supply chains of large consumer companies, including that of HUL.
Asian Hotels (East): The promoters of Hyatt group of hotels reported a turnaround in Q4FY23 with a net profit of Rs 5.73 crore. The company had posted a net loss of Rs 1.80 crore in Q4FY22. Total income rose by 73.5 per cent YoY to Rs 28.72 crore from Rs 16.55 crore.
MCX India: The commodity exchange reported a 85 per cent decline in consolidated net at Rs 5.45 crore for Q4FY23 when compared with Rs 36.53 crore in Q4FY22. Income from operations grew by 25.6 per cent YoY rose to Rs 133.75 crore from Rs 106.46 crore.
Dhanlaxmi Bank: The Kerala-based bank posted a 63 per cent growth in Q4 net at Rs 38.17 crore for the fourth quarter of the financial year 2022-23 as against Rs 23.42 crore during the same quarter of FY22. Total income rose by 5.5 per cent YoY to Rs 1,145.75 crore.
Stocks in F&O ban: Indiabulls Housing Finance, L&T Finance Holdings and Manappuram Finance are the three stocks in F&O ban period on Tuesday.