Indian benchmark indices may open in the green on Friday as Asian peers climbed early Friday after technology companies led a Wall Street rebound. At 7:10 am, the SGX Nifty was trading 127.00 points or 0.85 percent higher at 15,065.00, indicating a positive start for the broader index in India, cncbctv18.com reported.
Top stock to look for the day:
Hindustan Petroleum Corporation: The state-owned oil retailer’s March quarter net profit rose 28.6 percent to Rs 3,018 crore from Rs 2,345.6 crore. While revenue increased 10 percent to Rs 85,203.55 crore from Rs 77,412.68 crore, QoQ.
Mindtree: The company has signed an agreement to acquire NxT Digital Business, the cloud-based platform of L&T Group for Rs 198 crore.
Persistent Systems: The company will acquire selected contracts, IP, employees and, business assets from Sureline Systems Inc. and its subsidiary Sureline Systems India Pvt Ltd for USD 2.5 million.
Zee Entertainment Enterprises: The company reported a consolidated profit of Rs 275.8 crore in Q4FY21 against a loss of Rs 766.7 crore in the corresponding period last fiscal. Revenue increased to Rs 1,965.8 crore from Rs 1,951.1 crore, YoY.
Torrent Power: The company reported a consolidated profit at Rs 398.1 crore in Q4FY21 against a loss of Rs 273.94 crore in the same period last year. Revenue jumped to Rs 3,084.13 crore from Rs 2,983.5 crore YoY. The company has also approved the issuance of NCBs up to Rs 2,000 crore in one or more tranches by way of a private placement.
Apollo Tyres: The company has received permission from the authorities to re-start operations at its manufacturing plant at Perambra in Kerala from May 21.
Union Bank of India: The bank said it has raised Rs 1,447 crore through qualified institutions placement (QIP). The bank’s QIP issue opened on May 17 with a issue price of Rs 33.82 per share.
Jaypee Infratech: Creditors’ panel of the bankrupt-company decided to start the voting process on Suraksha group’s offer from next week. They rejected the plan proposed by state-owned NBCC citing non-compliance with certain provisions of the insolvency law.
Havells India: The company’s Q4FY21 standalone net profit jumped 70.8 percent to Rs 302.3 crore from Rs 177.7 crore. While revenue from operations increased 50 percent to Rs 3,331 crore from Rs 2,216 crore, YoY.
City Union Bank: The Reserve Bank of India has imposed a monetary penalty of Rs 1 crore on the bank for contravention of certain directions issued by the central bank.
Suzlon Energy: The Indian wind turbine manufacture’s board has approved the allotment of 2.36 crore equity shares following the conversion of dollar-denominated bonds.
Texmo Pipes & Products: The company has received orders from multiple contractors of HDPE pipes worth Rs 48.40 crore.
JK Lakshmi Cement: The company’s Q4FY21 profit rose to Rs 152.91 crore from Rs 99.15 crore, while revenue increased to Rs 1,424.32 crore from Rs 1,137.47 crore, YoY.
Dalmia Bharat: Its subsidiary Dalmia Power sold 4.47 percent stake in Indian Energy Exchange (IEX) for Rs 487.55 crore through an open market transaction.
List of companies which are going to declare their quarterly results:
Aarti Surfactants, Container Corporation of India, Godrej Industries, Hindalco Industries, JSW Steel, State Bank of India, Shree Cement, South Indian Bank, Shoppers Stop, TCI Industries and United Spirits among others will release their quarterly results on May 21.
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