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Adani Group, Realty, NTPC, Zomato, Zee Enterprises are in Focus

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The main Indian benchmark index is likely to end flat in Monday’s trade, suggests SGX Nifty. With the June 1 deadline looming, the focus this week will be on the final set of Q4 earnings, rupee movements and progress in US debt ceiling talks.

At 7:30 am, SGX Nifty June futures were quoted at 18,285. Beyond that, global markets are likely to breathe a sigh of relief after Federal Reserve Chairman Jerome Powell made it clear he favours a pause in rate hikes next month and said tighter credit conditions could mean policy peaks will be lower.

Real-estate stocks: CEOs of India’s top companies are on the sidelines to see how the withdrawal of the Rs 2,000 note will affect their businesses. While real estate, which still accounts for a large share of cash transactions, will be most affected, other sectors will have business as usual, CEOs said.

Divi’s Lab: The pharmaceutical company’s net profit fell 63.9% to Rs 318.79 crore in the quarter ended March 2023, compared to Rs 882.96 crore in the quarter ended March 2022. Total revenue also fell 22.4% year-on-year to Rs 1,974.32 crore.

Adani Group: The Supreme Court-appointed committee said markets watchdog Sebi and the Enforcement Bureau found evidence of short selling and profit-making following the release of the Hindenburg study on January 24 and were investigating the role of six entities addicted to short selling.

NTPC: The power generator’s fourth-quarter net profit fell 21.1% year-on-year to Rs 4,476 crore in the quarter ended March 2023. However, net profit rose 5.6% to Rs 17,197 crore in FY23, supported by a 34.5% rise in total revenue.

Punjab National Bank (PNB): The state-owned lender’s stand-alone net profit rose 474% year-on-year to Rs 1,159 crore in the January-March quarter (Q4), as its net interest income (the difference between interest earned and interest paid) rose. 30% to Rs 9,499 crore. Nonperforming assets (NPA) provision fell 21% to Rs 3,625 crore.

Zomato: The company’s net loss narrowed to Rs 187.6 crore in Q4FY23. The net loss in Q4FY22 was Rs 359.7 crore. Operating income rose 69.7% year-on-year to Rs 2,056 crore.

JSW Steel: The steelmaker reported a 13.3% year-on-year rise in its consolidated net profit to Rs 3,664 crore in the third quarter of FY22-23 (Q4FY23) on higher sales. Consolidated revenue from operations edged up 0.1% to Rs 46,962 crore.

Bharat Electronics (BEL): The company’s net profit in Q4FY23 rose 19.6% to Rs 1,365.36 crore from Rs 1,141.81 crore. Total revenue rose 2.1% year-on-year to Rs 6,524.38 crore.

Siemens: Last week, the company’s board approved the sale of the low-voltage motor and gear motor business to Siemens Large Drives India, a subsidiary of Siemens AG, for Rs 2,200 crore. Meanwhile, in a separate development, the company announced the acquisition of the electric vehicle unit of Mumbai-based Mass-Tech Controls for Rs 38 crore.

Zee Entertainment, IDBI Bank: On Friday, National Company Law Court in Mumbai dismissed IDBI Bank’s bankruptcy petition against Zee Entertainment, paving the way for the media company to merge with rival Sony Entertainment. IDBI Bank approached NCLT after the media company defaulted on a Rs 149 crore loan.

MCX India: The company’s fourth-quarter net profit plunged 85.1% to Rs 5.45 crore in the quarter ended March 2023, compared to Rs 365.3 crore a year earlier. Total revenue rose 27.1% YoY to Rs 153.83 crore.

Atul Auto: The company reported a turnaround in Q4FY23 with a net profit of Rs 5.62 crore. The company posted a net loss of Rs 5.68 crore in Q4FY22. Total revenue rose 63.8% YoY to Rs 141.36 crore.

Dodla Dairy: The company’s Q4FY23 net profit fell 71% to Rs 16.25 crore compared to Rs 56.03 crore in Q4FY22. However, total revenue rose 19.6% YoY to Rs 672.10 crore.

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