Sugar stocks in focus after government approves policy to increase ethanol blend in petrol to 20%.
Sugar stocks like Triveni Engineering, Uttam Sugar Mills, Bajaj Hindusthan, Balrampur Chini will be in focus after the government approved amendments to the National Policy on Biofuels, 2018, advancing the deadline for fuel companies to increase ethanol in fuel to 20 percent by five years to 2025.
reported a 17.3 percent year on year decline in net profit for the March quarter to Rs 254 crore. Revenue rose 12 percent to Rs 2,507 crore. Total cost rose 18 percent to Rs 2,178 crore.
reported an 11.8 percent year-on-year (YoY) jump in net profit at Rs 4,191 crore for the fourth quarter ended March 31 due to strong growth across all operating segments. Consolidated revenue rose 15.3 percent on year to Rs 17,754 crore. Revenue from the cigarette business grew 9.96 percent while non-cigarette FMCG revenue was up 12.32 percent.
Ujjivan Small Finance Bank
The lender after facing headwinds amid the COVID-19 pandemic, is charting out a more balanced growth path by increasing its secured loan book to 50 percent of total assets over the next two-three years.
reported a 44 percent year on year decline in net profit for the March quarter to Rs 261 crore against analysts’ estimates of Rs 451. Revenue fell nine percent to Rs 1480 crore. Total cost rose 13 percent to Rs 1,140 crore.
Indian Overseas Bank
The state-owned bank reported a nearly 58 percent YoY jump in net profit at Rs 552 crore in the quarter ended March 2022, mainly due to lower provisioning for bad loans. There was an improvement in the asset quality.
LIC Housing Finance
reported a 174 percent surge in net profit for the March quarter to Rs 1,114 crore. Revenue rose 6.3 percent to Rs 5,207.53 crore. Provisions for loan losses stood at Rs 177 crore.
announced its entry into the healthcare sector, stating that it has incorporated a wholly owned subsidiary Adani Health Ventures Ltd. Earlier Mint on May 2 had reported that Adani group was in discussions with a few globally renowned names in the healthcare sector for a joint venture or a tie-up for the India market. The group has earmarked up to $4 billion in a mix of debt and equity for the business and is talking to investors and lenders to devise a long term funding plan.
has said that it offloaded its entire 19.18 per cent stake in Asset Reconstruction Company (India) Ltd or ARCIL to Avenue India Resurgence Pte Ltd for an undisclosed amount.
Ratnamani Metals & Tubes
board approved the issue of bonus shares in the ratio of one for two held. The firm also recommended a dividend of Rs 14 a share for the fiscal year 2022. For bonus shares the record date will be 1 July 2022.
reported a 9.24 percent year on year rise in net profit to Rs 361.60 crore in the quarter ended March. Revenue rose 55.16 percent to Rs 2,405.92 crore. Total cost surged 72 percent to Rs 2,230 crore.
InterGlobe Aviation Ltd
will be in focus after Ronojoy Dutta, chief executive officer of IndiGo, said he will retire on September 30. The firm also said it has appointed Pieter Elbers as the next chief executive officer. The company has postponed its March quarter earnings to 25 May.