The market began off the day on a strong notice however the finish was pathetic on May 13 because the benchmark indices misplaced all its features within the final hour of commerce and closed with reasonable losses weighed down by banking & monetary companies, metallic and choose expertise shares . The BSE Sensex misplaced almost 1,000 factors from day’s excessive to shut with 137 factors loss at 52,794, and the Nifty50 failed to carry on to psychological 16,000 mark, down 26 factors at 15,782. Ajit Mishra, VP – Research, Religare Broking Ltd., mentioned: “Global headwinds are currently weighing on the sentiment and the domestic factors are also not very encouraging. The fresh selling pressure in the banking pack is further adding to the negativity. We thus repeated our negative view and suggest continuing with the “sell on the rise” strategy. Since most sectors are reeling beneath stress, individuals ought to align their positions accordingly and keep away from contrarian bets.”
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 Specialty 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.
Bank of Baroda
BoB has reported a standalone net profit of Rs 1,778.77 crore for the fourth quarter of 2021-22 as against a net loss of Rs 1,046.5 crore a year ago. However, on a sequential basis, the lender’s net profit fell 19 per cent from Rs 2,197.03 crore in the third quarter of last fiscal. Net interest income grew by 21.2 per cent to Rs 8,612 crore from Rs 7,107 crore a year ago.
The company reported a 10 per cent sequential rise in its consolidated net profit to Rs 1,506 crore for the quarter ended March 2022, which was above analysts’ expectations of Rs 1,411 crore. The IT services major reported a 5.8 per cent quarter-on-quarter rise in consolidated revenue from operations to Rs 12,116 crore for the reported quarter. The firm won deals worth over $1 billion in the January-March period.
Maruti Suzuki India
It completed the process of allotment of an 800-acre site in Haryana state for its proposed plant, according to a statement on exchanges. The plans 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.
It reported 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 per cent year-on-year against the estimates of Rs 117 crore. Revenue rose 21 per cent from a year ago to Rs 1,940 crore versus estimate of Rs 2,144 crore. The firm also approved raising Rs 500 crore via securities.
The company reported net profit for the fourth quarter that beat the average analysts’ estimates. Net profit for the quarter rose 16 per cent year-on-year to Rs 610 crore versus an estimate of Rs 596 crore. Revenue grew 9 per cent from a year ago to Rs 3,190 crore against estimates of Rs 3,183 crore. The growth was led by 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 partially offset by YoY decline in volumes for Royal Enfield.
They 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.
The net profit for the March quarter fell 71 per cent quarter-on-quarter to Rs 4.90 crore versus Rs 17.10 crore. Revenue for the quarter fell 6 per cent sequentially to Rs 175.10 crore against Rs 185.80 crore. The firm also announced that it will give 1:1 bonus share to its shareholders.
Avenue Supermarts, which owns and operates retail chain D-Mart, reported a 22 percent 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 per cent rise in its net profit. Revenue fell 5 per cent quarter-on-quarter to Rs 8,787 crore from Rs 9,218 crore. Year-on-year, revenue rose 19 per cent.
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