Trending Stocks: BoB, RIL, Eicher, Nazara, and others in news today

Bank of Baroda

In the fourth quarter of 2021-22, the firm declared a standalone net profit of Rs 1,778.77 crore, compared to a net loss of Rs 1,046.5 crore the previous year. However, the lender’s net profit declined 19% sequentially from Rs 2,197.03 crore in the third quarter of the previous corresponding period. Net interest income increased 21.2% to Rs 8,612 crore from Rs 7,107 crore the previous year.

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Quarterly results on May 16

Bharat Forge, MCX India, Ami Organics, Century Plyboards, Dodla Dairy, Fino Payments Bank, GlaxoSmithKline Pharmaceuticals, Greenply Industries, GRM Overseas, Max Ventures and Industries, Nava Bharat Ventures, Omkar Speciality Chemicals, RateGain Travel Technologies, Raymond, Shankara Building Products, Uttam Sugar Mills, and VIP Industries will be in focus ahead of March quarter earnings on May 16.

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Reliance Industries 

The company climbed two spots to No. 53 on Forbes’ latest Global 2000 list of public companies worldwide.

Tech Mahindra 

For the quarter ending March 2022, the firm reported a 10% sequential increase in consolidated net profit to Rs 1,506 crore, above analysts’ forecasts of Rs 1,411 crore. For the reported quarter, the IT services giant recorded a 5.8% quarter-on-quarter increase in consolidated revenue from operations to Rs 12,116 crore. The firm won deals worth over $1 billion in the January-March period.

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CESC 

The company has reported a fall of 4.07% in its net profit at Rs 259 crore for the fourth quarter and year ended March 31, 2022, as compared to Rs 270 crore for the same quarter in the previous year. On a consolidated basis, the company has reported a rise of 3.73% in its net profit at Rs 445 crore for the quarter under review as compared to Rs 429 crore for the same quarter in the previous year.

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Maruti Suzuki India 

The company completed the process of allotment of an 800-acre site in Haryana state for its proposed plant, according to a statement on exchanges. The plan’s investment of more than Rs 11,000 crore in the first phase. The first plant with a manufacturing capacity of 2.5 lakh vehicles a year is expected to be commissioned by 2025. The site will have space for capacity expansion to include more manufacturing plants.

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REC

The company has reported a rise of 10.55% in its net profit at Rs 2287.88 crore for the fourth quarter and year ended March 31, 2022, as compared to Rs 2069.63 crore for the same quarter in the previous year. On a consolidated basis, the company has reported a rise of 10.76% in its net profit at Rs 2301.33 crore for the quarter under review as compared to Rs 2077.84 crore for the same quarter in the previous year.

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Amber Enterprises 

The company reported a net profit for the fourth quarter that missed the average analyst estimate. Net profit for the quarter stood at Rs 57.22 crore, down 24 % year-on-year against the estimates of Rs 117 crore. Revenue rose 21 % from a year ago to Rs 1,940 crore versus an estimate of Rs 2,144 crore. The firm also approved raising Rs 500 crore via securities.

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Eicher Motors 

The company reported a net profit for the fourth quarter that beat the average analysts’ estimates. Net profit for the quarter rose 16 % year-on-year to Rs 610 crore versus an estimate of Rs 596 crore. Revenue grew 9 % from a year ago to Rs 3,190 crore against estimates of Rs 3,183 crore. The growth was led by a YoY increase in average selling prices (ASPs) due to a richer model mix and price hikes taken over the past few quarters. This, however, was partly offset by a YoY decline in volumes for Royal Enfield.

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Alkem Laboratories 

The company said on exchanges that the Medicines and Healthcare products Regulatory Agency (MHRA) has pointed out no critical or major observations at its Taloja Plant. The company said the MHRA has closed its inspection.

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Nazara Technology

The company’s net profit for the March quarter fell 71 % quarter-on-quarter to Rs 4.90 crore versus Rs 17.10 crore. Revenue for the quarter fell 6 % sequentially to Rs 175.10 crore against Rs 185.80 crore. The firm also announced that it will give a 1:1 bonus share to its shareholders.

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Avenue Supermarts

The company which owns and operates retail chain D-Mart reported a 22 % decline in its sequentially consolidated net profit to Rs 427 crore for the fourth quarter ended March 2022. Year-on-year it reported a 3 % rise in its net profit. Revenue fell 5 % quarter-on-quarter to Rs 8,787 crore from Rs 9,218 crore. Year on year, revenue rose 19 %.