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Stocks to watch: ITC, Infosys, Hero Moto, Motherson Sumi, PVR, NMDC

By Administrator_India

Capital Sands

Nifty futures on the Singapore Exchange traded 22 points lower at 15,609 around 8.25 am, indicating a negative start for the benchmark indices on Wednesday.

Here are the top stocks to track in today’s session:

Earnings Today: Motherson Sumi, Muthoot Finance, PVR, MTAR Technologies and Lyka Labs are among 23 companies slated to post their quarterly numbers today.

ITC: The cigarette-to-hotels conglomerate reported a consolidated net profit of Rs 3,755 crore for the quarter ended March 31, 2021 (Q4FY21), down 3 per cent YoY. The FMCG major’s consolidated revenue from operations rose to Rs 15,404 crore during the quarter from Rs 12,560 crore in the year-ago period, an increase of 22.6 about per cent.

Infosys: Sebi has barred eight entities, including two employees of Infosys, from the securities market for indulging in insider trading activities in the shares of the IT major. In a statement, Infosys said it will initiate an internal investigation into the insider trading matter.

Hero MotoCorp: The country’s top two-wheeler maker Hero MotoCorp on Tuesday said it has sold 1,83,044 units last month, down by 51 per cent from 3,72,285 units dispatched in April this year.

Eicher Motors: Mid-sized motorcycle maker Royal Enfield, part of Eicher Motors, on Tuesday said it has sold a total of 27,294 units in May, down 49 per cent from 53,298 units in April this year.

Balrampur Chini Mills: The company reported a 2.46 per cent YoY decline in consolidated profit during the quarter ending March 31, at Rs 235.50 crore compared to the same period of the last financial year.

Ashok Leyland: Hinduja Group flagship firm Ashok Leyland on Tuesday reported a decline of 62 per cent in total vehicle sales at 3,199 units in May. The company had sold 8,340 units in April this year.

Reliance Industries: The company said it will hold annual shareholders’ meeting on June 24 via video conference. It has set June 14 as record date for dividend.

Fineotex Chemical: The company board approved raising up to Rs 200 crore by way of issuance of securities, through private placement, preferential issue, qualified institutions placement, follow-on public offering or a combination thereof.

NMDC: Total production in May up 21.83 per cent at 2.79 MT from 2.29 MT a year ago. Total sales up 29.41 per cent at 3.30 MT from 2.55 MT YoY.

Gujarat Gas: The company reported 40 per cent YoY increase in its consolidated profit at Rs 350.86 crore in Q4FY21. Revenue jumped to Rs 3,489.31 crore from Rs 2,722.17 crore in the corresponding quarter of the previous fiscal.

Route Mobile: The company announced an agreement with Emirates Integrated Telecommunications Company (EITC) – du, UAE’s second integrated telecom service provider, by offering a turnkey solution using Route Mobile’s Smart Messaging Hub. This enables du to launch a highly scalable revenue-generating messaging platform to enable A2P wholesale transit business.