Paytm, ABFRL, Coal India, BoI, Adani Power are in Focus

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Stock markets are gearing up for a start on Monday as investors focus on global cues and earnings for the fourth quarter of fiscal 2023. At 7:35 am, the SGX Nifty closed at 18,148, up 24 points.

Mankind Pharma: Shares of India’s fourth-largest pharmaceutical company will be listed on the exchange today. The company has priced the issue at Rs 1,080. The stock is listed at a premium of Rs 100 per grey market trend.

Aditya Birla Fashion, TCNS: Aditya Birla Fashion and Retail (ABFRL) has agreed to acquire a controlling stake (51%) in TCNS Clothing for Rs 1,650 crore.

Dr Reddy’s Labs: On Friday, Dr Reddy’s Laboratories Ltd announced the US market launch of Regadenoson injection, used as a myocardial imaging agent to check blood flow.

PNC Infratech: The company has won an EPC project worth Rs 771.46 crore from Haryana Orbital Rail Corporation Limited.

Amara Raja Batteries: The company has started working on the ‘Amara Raja Giga Corridor’ project, which aims to produce lithium cells and battery packs with an eventual capacity of up to 16GWh 5GWh, respectively.

Vardhman Textiles: The company’s yarn production increased to 65,104 metric tons at the end of Q4FY23 from 58,919 metric tons during the same period last year. Meanwhile, yarn sales increased to 65,936 metric tons in the quarter. However, sales of grey cloth and processed fabrics fell 7% and 19.6% year-on-year to 463 tons and 336 tons, respectively.

Thermax: Thermax Limited has secured an order of Rs 271.50 crore from India’s largest oil refinery in the private sector for Mechanical Balance of Plant (MBoP) work for a Captive Power Plant (CPP) at their new Oil-to-Chemical (O2C) facility in the western part of India.

Bharat Forge: Kishore Saletore will step down as Chief Financial Officer (CFO) after the business closing on Friday, June 30, 2023. The Board of Directors has approved the appointment of Kedar Dixit as the company’s chief financial officer and key management officer, effective Saturday, July 1, 2023.

Paytm: On Friday, the company posted consolidated revenue of Rs 2,334 crore in Q3FY23, up 51% from Rs 1,540 crore in Q3FY22. The company’s loss narrowed to Rs 168 crore from Rs 763 crore a year earlier.

Coal India: On Sunday, the world’s largest coal miner, Coal India Ltd, reported a 17.7% fall in net profit to Rs 5,527.62 crore in the March quarter on higher provision for staff wage adjustments. Coal production rose 7% to 224.16 million tonnes in the quarter ended March 31.

Bank of India: Public sector bank Bank of India (BoI)’s net profit more than doubled year-on-year to Rs 1,350 crore in the quarter ended March 2023 (Q4FY23) on the back of an improvement in net interest income (NII). The bank informed the BSE that the board declared a dividend of Rs 2 per share (Rs 10 per share) for FY23, subject to shareholder approval.

Adani Power: The Adani Group of Companies reported an increase of around 13% in consolidated net profit at Rs 5,242 crore for the March quarter of 2022-23. Total revenue, however, fell to Rs 10,795 crore from Rs 13,307 crore a year earlier. Total expenditure was Rs 9,897 crore, up from Rs 7,174 crore a year ago.

Britannia: Britannia Industries’ net earnings jumped 47.1% to Rs 558.7 crore in the January-March quarter of FY23 as its profit before interest, depreciation and tax (PBIDT) rose 42.7%. This is because lower input costs help operating margins. Nusli Wadia group of companies posted a 13.3% rise in operating income at Rs 4,023.2 crore in the quarter on the back of significant distribution gains.

Dhampur Sugar: The company recorded total revenue of Rs 762.55 crore in Q4FY23, an increase of 41.35% compared to Rs 539.48 crore at the end of Q4FY22. Meanwhile, its net profit stood at Rs 60.38 crore, up 103% year-on-year, compared to the Rs 297.2 crore net profit reported last year.

TVS Electronics: The small company posted a net profit of Rs 1.51 crore, down 66.37% year-on-year from the Rs 4.49 crore net profit in Q4FY22. The board has recommended a final dividend of Rs 2 per share, with a record date set for July 29.

Zen Technologies: The Hyderabad-based company reported a total revenue of Rs 74.33 crore in Q4FY23 compared to Rs 18.57 crore in Q4FY22. Its revenue for the full financial year jumped 201% to Rs 161.44 crore. Meanwhile, profit for the quarter was Rs 1,727 crore (Rs 1.4 crore YoY).

Greenpanel Industries: The company posted total revenue of Rs 449.93 crore for Q4FY23, down 5% from the Rs 473.74 crore posted for the period ended March 31, 2022. The company also reported a 14.5% year-on-year drop in profit to Rs 68.9260 crore.

Olectra Greentech: The company posted a net profit of Rs 2,781 crore and profit after tax of Rs 1,746.58 crore for the quarter ended March 2023. Operating income surged to Rs 36,840 crore from Rs 26,809.5 crore last year.

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