NEW DELHI: Following are the stocks that could be in focus on Tuesday.
RIL: Mukesh Ambani-led Reliance Industries Ltd (RIL) is expanding its presence in the pharma sector and has operationalized 114 pharmacies. It is engaging customers through outreach initiatives, an RIL official said, adding that the company has started a pilot for hyperlocal delivery in Bengaluru.
FMCG stocks: Restrictions in some states on timings of stores selling essential goods has narrowed the window for their delivery in these markets, eventually impacting the availability of some products, said makers of fast-moving consumer goods (FMCGs) and their distributors.
ICICI Bank: The Reserve Bank of India has imposed a penalty of ₹3 crore on ICICI Bank for “contravention of certain directions issued by the RBI contained in Master Circular on ‘Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks’ dated July 1, 2015”, the central bank said in a statement.
Bajaj Auto: Driven by robust exports, Bajaj Auto emerged as the largest motorcycle maker in India, by sales, in April, edging past Hero MotoCorp. The company sold 348,173 units last month, of which 221,603 units were exported. Hero MotoCorp, on the other hand, dispatched 339,329 units during the month.
IDBI Bank: The private sector lender reported its first annual profit in five years, posting a net profit of ₹1,359 crore. It had reported a net loss of ₹12,887 crore in fiscal 2019-20. In the fourth quarter, the lender reported a nearly fourfold jump in its net profit to ₹512 crore due to a tax refund and higher net interest income. It had posted a profit of ₹135 crore in the year-ago quarter.
Yes Bank: The private sector lender’s standalone net loss widened to ₹3,788 crore in the quarter ended March from a net loss of ₹3,668 crore a year ago. The lender had reported a net profit of ₹148 crore in the December quarter. Total income fell to ₹4,805.30 crore from ₹5,818.59 crore a year ago.
IT stocks: Top Indian IT services companies have clocked the highest-ever large deal wins during the fourth quarter ended March as demand for digital services continued to rise among enterprise clients. The large deals helped these firms post strong revenue growth in a seasonally weak quarter.
L&T Technology Services: The company reported a consolidated net profit of ₹204.8 crore for the March ended quarter compared with ₹186.1 crore in Q3FY21. Revenue rose to ₹1,446.6 crore from ₹1,400.7 crore, sequentially.
JSW Energy: JSW Renew Energy, the wholly-owned subsidiary of JSW Future Energy, has signed a Power Purchase Agreement with Solar Energy Corporation of India for contracted capacity of 540 MW of total awarded capacity of 810 MW.
Motherson Sumi Systems: Subsidiary Motherson Rolling Stock Mexico, S. de R.L. de C.V. (MRSM) has completed the acquisition of Bombardier Transportation’s manufacturing site for electrical wiring interconnection systems in Huehuetoca, Mexico.
