Stocks in news: Stocks in news: M&M, Divi’s Labs, BoB, Fortis, Gulf Oil, Affle, Max Health
Q4 earnings today: Aurobindo Pharma, Rupa, Jamna Auto: Aurobindo Pharma,
, Magma Fincorp, Narayana Hrudalaya, , , Rupe & Company, Marksans Pharma, Apar Industries, Kolte Patil Developers and Chemcon Speciality Chemicals are among companies that will announce their March quarter results today.
Mahindra & Mahindra: The home-grown auto major reported a standalone profit-after-tax (PAT) of Rs 163 crore for the fourth quarter ended March 31, 2021, on the back of robust sales of passenger vehicles and tractors. The company had reported a net loss of Rs 3,255 crore for the January-March quarter of 2019-20 fiscal.
Divi’s Laboratories: The Drug firm reported a 29.30 percent rise in its consolidated net profit to Rs 502.02 crore for the quarter ended March 31, 2021, on account of robust sales. The company had posted a net profit of Rs 388.23 crore for the corresponding period of the previous fiscal.
Bank of Baroda: The State-run lender reported a standalone net loss of Rs 1,047 crore in the quarter ended March 2021, as it shifted to a new tax regime. The lender had reported a standalone profit-after-tax of Rs 507 crore in the year-ago period.
Glenmark Pharmaceuticals: The drug firm has reported a 6.15 per cent rise in its consolidated net profit to Rs 233.87 crore for the quarter ended March 2021 on account of higher sales. The company had posted a net profit of Rs 220.30 crore in the corresponding period of the previous fiscal.
Fortis Healthcare: The healthcare services company reported a consolidated net profit of Rs 62.36 crore for the quarter ended March 31, 2021 on account of healthy performance in both the hospital and the diagnostics segments. The company had posted a net loss of Rs 41.24 crore for the corresponding period of the previous fiscal.
Gulf Oil: The lubes maker reported a 66.4 per cent growth in profit after tax (PAT) at Rs 59.79 crore in the March 2021 quarter. The Hinduja Group company had posted a PAT of Rs 35.94 crore in Q4FY20.
Sundaram Finance: The NBFC reported a 38 per cent jump in its consolidated net profit to Rs 270.51 crore for the March 2021 quarter. The non-banking financial company had posted a net profit of Rs 195.65 crore in the corresponding quarter of the previous financial year.
Dhanlaxmi Bank: The private sector lender reported a net profit of Rs 5.28 crore in the fourth quarter of FY 2020-21, up by over two-folds from a year ago. The bank had posted a net profit of Rs 2.60 crore in the year-ago same quarter.
Dollar Industries: Kolkata based hosiery major has posted a net profit of Rs 19 crore in the fourth quarter of the fiscal ended March 21, recording a rise of 58 per cent over the corresponding period last year.
Jagran Prakashan: The publisher of Hindi daily Dainik Jagran reported a seven-fold jump in its consolidated net profit at Rs 39.90 crore for the fourth quarter ended March 2021. The company had posted a net profit of Rs 5.72 crore during the January-March quarter a year ago.
Affle India: The mobile advertising firm posted a nearly three-fold jump in consolidated profit at Rs 58.7 crore for the quarter ended March 31, 2021. The company had posted a net profit of Rs 20 crore in the same quarter a year ago.
Max Healthcare: The healthcare services reported 31.11 per cent rise in consolidated profit after tax (PAT) at Rs 69.69 crore for the quarter ended March 31, 2021. The company had posted a PAT of Rs 53.15 crore for the corresponding period of the previous fiscal year.
City Union Bank: The private lender reported a net profit of Rs 111.18 crore in the last quarter ended March 2021. There was a net loss of Rs 95.30 crore in the same quarter of 2019-20.
Indian Bank: The state-owned lender reported a standalone profit after tax of Rs 1,709 crore for the three months to March 2021. In the quarter ended March 2020, the amalgamated entity had reported a standalone net loss of Rs 1,641 crore.
Orient Green Power: The renewable resources company reported a consolidated loss of Rs 42.64 crore in the March quarter, mainly due to lower revenues. The company had reported a consolidated net profit of Rs 20.91 crore in the quarter ended March 31, 2020.
Rural Electrification Corporation: State-owned REC’s consolidated net profit jumped multifold to Rs 2,077.84 crore in the March 2021 quarter, mainly on the back of higher revenues. The company’s consolidated net profit stood at Rs 473.99 crore in the quarter ended on March 31, 2021.
Macrotech Developers: Aiming to strengthen its presence in the Mumbai Metropolitan Region and Pune, the realty firm Macrotech Developers has formed two joint ventures to build projects with sales value of Rs 1,500 crore and is looking for more such partnerships to grow business.
Punjab National Bank: The state-run lender will divest its stake in Canara HSBC OBC Life Insurance Co, the lender said. PNB had acquired a stake in the life insurer post amalgamation of the erstwhile Oriental Bank of Commerce (OBC) into itself last fiscal year.
Suzlon Energy: Himanshu Mody is appointed as its new Chief Financial Office from August 1, 2021 of the power company. “Himanshu Mody has been appointed as the new Chief Financial Officer of the company, as key managerial personnel, to act as Group Chief Financial Officer, with effect from 1st August 2021,” a BSE filing said.
Kotak Mahindra Bank: The private lender said its board has approved a proposal to raise up to Rs 5,000 crore by issuing debt securities.
Bharti Airtel: The leading telecom operator said it has upgraded its mobile network in North East by adding 10 Mhz spectrum in the 2300 Mhz band for offering the “best experience” to its customers.
India: The cement producer reported an over two-fold jump in net profit to Rs 139.99 crore for the fourth quarter ended March 2021. The company had reported a net profit of Rs 66.29 crore in the January-March period a year ago.
Genus Power Infrastructures: The power company reported more than doubling of its consolidated net profit to Rs 28.34 crore for the March quarter. The consolidated net profit of the company stood at Rs 13.90 crore in the quarter ended March 31, 2020.
Reliance Infrastructure: The Anil-Ambani’s firm reported narrowing of consolidated net loss at Rs 46.53 crore for the quarter ended March 31, 2021. The company had reported a consolidated net loss of Rs 153.84 crore in the year-ago period.
Bank: The private lender posted nearly 23 per cent rise in its net profit at Rs 104 crore in the last quarter of the fiscal ended March 2021, on account of good growth in retail loan portfolio as well as gold loan.
NBCC: Financial creditors of embattled Jaypee Infratech have decided to give more time to state-owned NBCC and Suraksha group to submit their final bids to acquire the realty firm through the insolvency process.
Central Bank of India: The state owned lender said it has allotted over 280 crore shares to the government on preferential basis for Rs 4,800 crore capital infusion in the bank. The capital raising committee of the bank’s board shares at the issue price of Rs 17.11 per share to the government aggregating up to Rs 4,800 crore.
Phoenix Mills: The retail mall developer and Canada Pension Plan Investment Board (CPP Investments) on Saturday said they have agreed to form a joint venture to develop a regional retail centre in Alipore, Kolkata.
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