Saturday, June 15, 2024

NTPC, Finolex Industries and Lupin

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Indian stock markets are likely to open flat on Monday, June 28, amid mixed trends from Asian peers. The SGX Nifty opening indicates a moderate start for the broader index in India, as the Nifty futures were trading 5.50 points or 0.03 percent lower at the 15,865.50 level on the Singaporean Exchange at 7:10 am, reported.

Top stocks to look for the day:

NTPC: The state-run power producer has pledged to achieve 60 giga-watt (GW) of cumulative capacity of renewables by 2032 as part of its energy compact goals. The company has become India’s first energy firm to declare its energy compact goals as part of the UN High-level Dialogue on Energy (HLDE).

InterGlobe Aviation: The company’s shareholders have approved a plan to raise up to Rs 3,000 crore through the Qualified Institutional Placement (QIP) route.

Thyrocare Technologies: Docon Technologies and API Holdings, the parent company of Pharmeasy (online medical platform),will acquire a 66.1 percent equity stake in the company for Rs 4,546 crore. The promoters have also made an open offer for acquisition of an additional 26 percent stake in Thyrocare at a price of Rs 1,300 per share for Rs 1,788.16 crore.

Finolex Industries: The company’s Q4FY21 consolidated profit jumped to Rs 298.84 crore from Rs 58.66 crore in the same period a year ago,while revenue increased to Rs 1,249.34 crore from Rs 768.66 crore, YoY.

IndusInd Bank: The private lender has acquired over 70 lakh shares in tea company Mcleod Russel after invoking pledged shares of the company to recover its dues.

Shree Renuka Sugars: The company will invest Rs 450 crore to expand its ethanol capacity. The decision comes after the shareholders approved the expansion plan which is aimed to increase production capacity by 430-kilo litre per day to 1,400-kilo litre per day with the said investment.

Lupin: The drug maker has launched Emtricitabine and Tenofovir Disoproxil Fumarate tablets, used in the treatment of HIV-1 infection, for the American market.

Jindal Drilling & Industries: The company reported profit at Rs 44.56 crore in Q4FY21 against a loss of Rs 546.80 crore in the same period a year ago. Revenue increased to Rs 112.36 crore from Rs 90.34 crore, YoY.

Brigade Enterprises: The company raised Rs 500 crore via private placement of shares to institutional investors at a price of Rs 268 per share.

Ashiana Housing: The company’s consolidated net loss narrowed to Rs 5.2 crore in Q4FY21 from Rs 8.63 crore in Q4FY20. Total income droppedto Rs 81.36 crore from Rs 98.59 crore, YoY.

Ircon International: The company has bagged an order worth Rs 659 crore from the Ministry of Railways for electrification work.

JSW Energy: The company’s Q4FY21 consolidated net profit rose 16 percent to Rs 104.7 crore against Rs 89.9 crore in the corresponding period last year. Revenue fell 12.5 percent to Rs 1,569.6 crore from Rs 1,793.4 crore, YoY.

Future Consumer: The company reported a lower net loss of Rs 155.12 crore in Q4FY21 compared to that of Rs 175.46 crore in Q4FY20. Revenue fell 59.2 percent to Rs 386.26 crore from Rs 947.07 crore, YoY.

Zuari Agro Chemicals: Fair trade regulator – Competition Commission of India (CCI) has approved the acquisition of the company’s Goa plant by Paradeep Phosphates.

SJVN: The company’s Q4FY21 net profit rose 55 percent to Rs 619.92 crore from Rs 399.21 crore in the year-ago quarter. While revenue jumped to Rs 1,084.96 crore from Rs 703.72 crore, YoY.

Earnings: Autoline Industries, Eros International Media, Future Lifestyle Fashions, Federal-Mogul Goetze, GIC Housing Finance, HAL, IFCI, ISGEC Heavy Engineering, KPI Global Infrastructure, NALCO, NLC India, Premier Explosives, Sadbhav Infrastructure Project, V2 Retail, Vivimed Labs, Welspun Corp and Zee Media Corporation among others will declare their earnings on June 28.

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