Stocks that can focus on Monday
Reliance Industries: To create a mega land bank for setting up renewable energy parks and projects. Land consolidation work is underway to set up 100GW solar power projects by 2030.
HDFC: The company on Sunday raised its benchmark retail prime lending rate (RPLR) by 5 basis points (bps). This led to a uniform increase in home loan rates for existing customers. Meanwhile, HDFC will also announce its March quarter earnings today.
Maruti SuzukiMaruti Suzuki India, the country’s largest carmaker, saw its total sales decline by 6% in April to 1,50,661 units. Last month, Maruti’s domestic sales fell 7% year-on-year to 1,32,248. The company’s consolidated net profit rose 51.1% year-on-year to Rs 1,875.8 crore in the fourth quarter ended March, despite a slowdown in chip production. Operating income rose to Rs 26,749.2 crore in the fourth quarter from Rs 24,034.5 crore a year ago.
Wipro: Its revenue rose 3.1% to $ 2,721.7 million for the quarter ended March. At the same time earnings in fixed currency increased by 3.1%. Wipro has projected a 1-3% continuous growth in revenue from $ 2,748 million to $ 2,803 million. Profit for the March quarter rose 3.98% to Rs 3,087.3 crore and revenue rose 2.68% to Rs 20,860 crore.
Tata Motors: The company’s total sales in April rose 74% year-on-year to 72,468 units. Tata Motors’ domestic sales rose 81% to 71,467 units last month. At the same time the total number of passenger vehicles for dealers increased by 66% to 41,587 units.
Adani Group: Ranks healthcare investments
IndusInd Bank: Financial allocations declined by 21.5% to Rs 1,361.4 crore for the quarter ended March, up 55.4 per cent year-on-year, on the back of improved asset quality. Net interest income rose 12.7 per cent to Rs 3,985.16 crore in Q4 of the year.
Yes Bank: The bank has a plan to set up a property restructuring company. It also expects to transfer all of its debt to the company by the end of June. As on March 31, Yes Bank’s total bad debts stood at Rs 27,976 crore. The bank had a net profit of Rs 367 crore in the March quarter. It was Rs 3,788 crore a year ago.
Biocon: Biocon Biologics, a subsidiary of Biocon Biologics, has said it will finalize a $ 3.34 billion VioDrizi biosimilar business acquisition transaction this quarter, subject to approval from regulatory agencies. In March, Biocon Biologics struck a firm deal to acquire Vyatris’s Biosimillers assets for $ 3.34 billion. The company will pay $ 2 billion to Vyatris at the end of the deal, and another $ 335 million in 2024.
Jet Airways: The airline, under its new advertisers, is set to launch its business operations in the July-September quarter, operating in the first half of May. Airline staff, including check-in counter-engineers, pilots, cabin crew and maintenance technicians, follow functions that reflect real-time business operations.