Stocks to watch on 8 May, 2023
Results today
UPL, Canara Bank, Indian Bank, Aarti Industries, Apollo Pipes, Birlasoft, CG Power and Industrial Solutions, Craftsman Automation, Exide Industries, Happiest Minds Technologies, HFCL, Kalpataru Power Transmission, Kansai Nerolac Paints, Mahanagar Gas, Pidilite Industries, and VIP Industries will be in focus ahead of quarterly earnings on May 8.
Coal India
The company reported a consolidated net profit of Rs 5527.62 crore in the March quarter, down 17.7% from a year ago. Consolidated revenue for the quarter stood at Rs 35161.44 crore, up 17.3% on-year. The company recommended a final dividend of Rs 4 per share.
One 97 Communications (Paytm)
Paytm narrowed its losses to Rs 168.4 crore in the March FY23 quarter, against a loss of Rs 761.4 crore in the same period last year. Consolidated revenue for the quarter grew by 51.5 % to Rs 2,334.5 crore compared to the corresponding period last fiscal.
Britannia Industries
The company reported a 47.5% on-year growth in consolidated profit at Rs 557.6 crore for the quarter ended March FY23, led by healthy operating performance and topline.
Marico
The company posted an 18.7% on-year growth in consolidated profit at Rs 305 crore for the March FY23 quarter, as operating performance remained strong on lower input costs.
Lupin
Lupin entered a definitive agreement to acquire the entire share capital of the French pharmaceutical company Medisol, subject to approval from the French Ministry of Economy and Finance.
DCB Bank
The bank reported a 25% on-year growth in profit at Rs 142 crore for the quarter ended March FY23, following a decline in provisions. Net interest income grew 28% on-year to Rs 486 crore with over 18% growth each in deposits and advances.
Alembic Pharmaceuticals
The company posted a nearly seven-fold rise in consolidated profit at Rs 152.6 crore for quarter ended March FY23, supported by strong operating performance and lower other expenses. Revenue dropped 0.65 % to Rs 1,406.5 crore compared to the year-ago period, impacted by the US business that fell 36% to Rs 354 crore.
Union Bank of India
The bank reported a 93.3% on-year growth in standalone profit at Rs 2,782 crore for the quarter ended March FY23, backed by lower provisions, with improvement in asset quality. Higher other income and net interest income also boosted profitability.
Bank of India
The bank posted a standalone profit at Rs 1,350.4 crore for the March FY23 quarter, growing 123% over a year-ago period despite higher provisions. Net interest income grew by 38.6% on-year to Rs 5,523.84 crore in Q4FY23, with global advances rising 13% and deposits climbing 6.6%.
Ajanta Pharma
The company posted a profit of Rs 122 crore for the quarter ended March FY23, falling 19% compared to the year-ago period, impacted by weak operating performance with muted topline growth.