Stocks to Watch: LIC, Nykaa, Vedant Fashions, Biocon, Amara Raja, Glenmark, and Others
Nifty futures on the Singapore Exchange traded 82.5 points, or 0.45 per cent, lower at 18,376.50, signaling that Dalal Street was headed for negative start on Wednesday.
Earnings Watch: Aban Offshore, Aptech, Ashoka Buildcon, Atlas Cycle, Avanti Feeds, Bayer Cropscience, Brigade Enterprises, Cummins, Fine Organic Industries, Gujarat Pipavav Port, Hindalco, ICRA, India Cements, IRCON International, ITDC, JB Chemicals, Lakshmi Machine Works, LIC of India, National Aluminium, Noida Toll Bridge, Nykaa, Oil India, Phoenix Mills, Sanghvi Movers, Tribhovandas Bhimji Zaveri, TN News Print, Titagarh Wagons, Venus Pipes and Wonderla Holidays are few of the prominent companies scheduled to announce March quarter earnings on Wednesday.
Vedant Fashions, Max Healthcare: Global index provider FTSE has increased the weightage of Vedant Fashions (Manyavar) in four of its indices. Earlier this month, the promoters of Manyavar offloaded 9.88 per cent stake in the company to comply with the 25 per cent minimum public shareholding norms.
Similarly, Max Healthcare Institute is expected to get added to the MSCI Standard index by the end of this month. The move follows GQG Partners Emerging Markets’ acquisition of 7.55 million shares of the company.
Adani Group: Shares of Gautam Adani promoted companies are likely to remain in focus following a report that US-based GQG Partners has hiked its exposure and willingness to back any of the Adani group’s “new offerings”.
Ashok Leyland: The company posted a four-fold jump in net profit during the fourth quarter of FY23 to Rs 803 crore, from Rs 158 crore during the Jan-March quarter of FY22. Revenue from operations rose by 33 per cent from Rs 9,927 crore to Rs 13,203 crore.
Biocon: The company posted a 31 per cent rise in fourth-quarter net profit to Rs 313 crore in 2022-23 when compared with Rs 239 crore during the same period in 2021-22. Revenue from operations grew by 57 per cent to Rs 3,774 crore from Rs 2,409 crore.
Amara Raja Batteries: The company posted a 41 per cent growth in net profit during the January to March quarter of 2022-23 to Rs 139 crore as against Rs 99 crore in the same period of the previous financial year. Revenue from operations rose by 11 per cent to Rs 2,429 crore from Rs 2,181 crore.
Glenmark Life Sciences: Ahmedabad-based Nirma group and leading private equity firms have joined the race to acquire the pharma company. Glenmark owns an 82.8 per cent stake in the Glenmark Life, which has a market valuation of Rs 6,361 crore as on Tuesday. As per sources, besides Nirma, American private equity giants – KKR, Blackstone and BPEA -EQT – are interested in buying a stake in the company.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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