Stocks to Watch on Friday, May 26, 2023: The key benchmark indices are likely to start Friday’s trading session on a quiet note amid mixed global cues. At 07:30 AM, the SGX Nifty June futures quoted at 18,415, indicating a flat start to the Nifty 50.
Earnings Watch: Archean Chemical, Astra Microwave Products, BEML, BHEL, Chambal Fertilisers, City Union Bank, Easy Trip Planners, Edelweiss Financial Services, Engineers India, Finolex Cables, Gateway Distriparks, Grasim, GVK Power, Hinduja Global Solutions, Imagicaa World, Indigo Paints, Inox Wind, Ion Exchange, Jain Irrigation, Karnataka Bank, Lokesh Machines, Mahindra & Mahindra (M&M), Maharashtra Seamless, Mirc Electronics, MOIL, Samvardhana Motherson, Naukri, NCC, Nucleus Software, ONGC, Purvankara, Shree Renuka Sugars, Sundaram Brakes, Sun Pharma, Sunteck Realty, TCPL Packaging, Tide Water Oil, VIP Clothing and Wockhardt are few of the prominent companies scheduled to announce March quarter earnings today on Friday.
The steel major’s consolidated net profit plunged 53.2 per cent to Rs 1,159.21 crore for the quarter ended March 2023 when compared with Rs 2,478.82 crore in the corresponding quarter a year ago. Total income too was down 5.6 per cent YoY at Rs 29,416.39 crore.
Hindustan Zinc: Billionaire Anil Agarwal’s Vedanta has pledged its entire 64.9 per cent stake in Hindustan Zinc to raise funds. Vedanta Resources, the London-based parent firm of Vedanta, has over the past month repaid all loans and bonds due in April this year, helped by a hefty dividend from the Indian subsidiary.
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Vodafone Idea: Voda Idea reported a consolidated net loss to Rs 6,418 crore in Q4FY23 on the back of an increase in operating expenses. In the same period last year, the company had posted a net loss of Rs 6,563 crore. Gross revenue increased by 2.8 per cent YoY to Rs 10,531 crore. READ MORE
Reliance Industries (RIL): Global investment management firm Bernstein has pegged the enterprise valuation of RIL’s 85 per cent stake in Reliance Retail at $111 billion, while valuing the Mukesh Ambani-led company’s 66.5 per cent stake in telecom and digital platform arm Reliance Jio at $88 billion.
Zee Entertainment: The company on Thursday reported its first quarterly loss in three years, as advertisers tightened their marketing budgets and expenses shot up. Zee posted a consolidated net loss of Rs 196.03 crore for Q4FY23 as against a net profit of Rs 181.93 crore in the year ago period. Total income fell by 9.9 per cent YoY to Rs 2,126.35 crore. READ MORE
Emami: The FMCG firm posted a 59.4 per cent year-on-year (YoY) drop in consolidated net profit to Rs 144.43 crore for Q4FY23 as against Rs 355.96 crore in the year-ago period. Revenues from operations rose by 8.8 per cent YoY to Rs 835.95 crore.
Gokaldas Exports: The company reported a net profit of Rs 47.19 crore for Q4FY23, down 22.5 per cent when compared with Rs 60.91 crore in Q4FY22. Total income was down 9.8 per cent YoY at Rs 530.12 crore.
Aster DM Healthcare: The company’s Q4FY23 net profit declined by 17.5 per cent to Rs 51.87 crore when compared with Rs 62.87 crore in Q4FY22. Total income, however, increased by 27.9 per cent YoY to Rs 441.69 crore.
Balmer Lawrie: The company’s Q4 consolidated net profit dipped 6.6 per cent to Rs 43.30 crore for Q4FY23 as against Rs 46.36 crore in Q4Fy22. Total income, however, was up 5.8 per cent YoY at Rs 625.21 crore.
Mazda: The company posted a net profit of Rs 10.63 crore in Q4FY23, up 35.4 per cent from Rs 7.85 crore in Q4FY22. Total income rose by 25.8 per cent YoY to Rs 67.52 crore.
