Latest News
-
Multibagger Energy Stock To Reward Shareholders With 3 Bonus Shares, Hits 52-Week High -
Massive Rs 33/Sh Dividend By Larsen's IT Stock, 1650% Payout Soon; LTTS Earns Profit Of Rs 341 Crore In Q4 -
Rs 7.50/Share Dividend: Adani Group Cement Company Reports Strong Q4 Results; Profit Surges 2x YoY -
Closing Bell: Market Rebounds To End With Gains For 5th Straight Day; Sensex & Nifty Soar Led By Banks -
Gold Prices Ayodhya: In Ram-Janma-Bhumi, 24carat Falls By Rs 380 In 10-Grams, Drops By Rs 3,800 In 100-gram -
Penny Stock Hits 2nd Upper Circuit After Declaring Earnings, Gains 14% In 1-Week -
Rs 8.50/Share Dividend Recommended: Nestle India Reports 27% YoY Jump In Profit -
0.50% Dividend Yield: Midcap Cement Stock Slumps 10% Following Weak Q4 Results; Profit Down 48% YoY -
1:10 Split, Rs 147/Share Dividend: FMCG Major Likely To Report Profit Growth; Buy Or Sell? -
Mark Zuckerberg's Meta Reports Record Q1 Profit Surge, Projects AI Investments This Year; Stock Slumps
Stocks To Be In News Today: HDFC, Bayer CropScience, Cement Companies etc.
On gains in the SGX Nifty which quoted higher by 0.21 percent at 6:26 am Indian time, the headline indices in India may see a gap up opening on Wednesday. In the US, S&P 500 erased its gains and ended the day lower as US new home sales data weighed.
Asian indices meanwhile are trading positive with both Nikkei and Kospi trading higher by over 0.30 percent.
Also, it is suggested that the dollar index weakness may weigh on the Nifty positively.
Here are some of the stocks that shall be in focus today:
HDFC:
The housing finance company on Tuesday said it will raise up to Rs. 7000 crore by issuing bonds on private placement basis. In a filing, HDFC said, "The base issue size for the secured redeemable non-convertible debentures (NCDs) is Rs 5,000 crore with option to retain oversubscription of up to Rs 2,000 crore".
The issue for the NCDs shall open on May 28 and will close on the same day. The coupon rate on the bonds shall be at 6 percent.
Bayer CropScience:
For the March ended quarter of FY21, the pesticides and agro-chemical company Bayer reported doubling of profit to Rs. 62 crore. Its revenue from operations during the quarter under review jumped 59.95 per cent to Rs 733.7 crore, compared with Rs 458.7 crore in the year-ago period.
Cement companies:
CARE rating agency in its report highlighted that the cement demand-supply shall be severely impacted amid the Covid 19 2.0 wave which resulted in localized restrictions yet again. However the demand for cement will see a boost from July as restrictions due to Covid 19 shall ease.
Notably the production of cement increased in March on a year on year basis by a significant 32.5 percent.
CAMS:
The registrar and transfer agent for mutual funds for the Q4FY21 period posted PAT at Rs. 60 crore. In the same quarter a year ago, the PAT stood at Rs. 43 crore.
The company also saw a sequential increase in revenue from operations at Rs. 199.77 crore, which is a 14 percent jump from the previous quarter ended December.
BPCL:
The state-run oil marketer BPCL may pare a stake in Petronet LNG and Indraprastha Gas. BPCL has 12.5 per cent of shareholding in Petronet and a 22.5 percent holding in IGL. The company is a promoter entity in both the listed companies.
As per the DIPAM, the company taking over BPCL will have to make an open offer to the minority shareholders of both these companies for acquisition of 26 per cent shares, three sources with knowledge of the matter told a leading business daily.
HDFC Bank
HDFC Bank on Tuesday in an investor call highlighted its concern around retail asset quality which is bound to suffer amid the second wave of Covid 19. "Borrowers who had to avail cover under regulatory dispensations like moratorium and restructuring after the first wave will be the highest impacted", said its chief executive and managing director Sashidhar Jagdishan.
"First time in so many years, we may not have any grip on what is going to happen", he added.
