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Market Opening - An Overview
SGX Nifty futures were trading 0.24% lower at 16,607.50, signalling that Dalal Street was headed for a negative start on Tuesday.
Most Asian shares were trading slightly higher as investors awaited economic data from China. Japan’s Nikkei 225 inched up 0.07% and Topix index was marginally lower by 0.02%. China’s Hang Seng rose 0.20% and CSI 300 rose 0.33%.
Indian rupee inched up 2 paise to 77.53 against the US dollar on Monday.
FII/DII Trading Data
Stocks in News Today
Life Insurance Corporation of India (LIC): The insurer on Monday reported 18% decline in standalone net profit at Rs 2,372 crore for the quarter ending March 2022. It reported a consolidated net profit of Rs 2,893 crore in Q4FY21.
Its consolidated net premium income rose 18% to Rs 1.44 trillion for Q4FY22 as against Rs 1.22 trillion in the year-ago period. Its board of directors recommended a dividend of Rs 1.50 per equity share with face value of Rs 10 each for FY22.
Indian Railway Catering and Tourism Corporation (IRCTC): The company reported a 106% jump in net profit at Rs 214 crore for the quarter ending March 2022. It reported a net profit of Rs 104 crore in Q4FY21. IRCTC’s revenue from operations soared 103% to Rs 691 crore in the March quarter as against Rs 339 crore in Q4FY21.
The company’s board of directors recommended a final dividend of Rs 1.5 per share for FY22.
Vodafone Idea: The US retail giant Amazon and a few other investors are in talks with Aditya Birla Group to invest up to Rs 20,000 crore in the struggling wireless telephone company, Business Standard reported.
The proceeds of the sale will be used to bid for the upcoming 5G auction of spectrum and capital expenditure for the roll-out of services by year-end, said banking sources. Apart from Amazon, the group is talking to private equity investors planning to take an exposure to the telecom sector in India.
Delhivery: The logistics company reported marginal rise in net loss at Rs 120 crore for the fourth quarter ended March 2022 compared with a loss of Rs 118 crore in the year-ago period. Its revenue grew 106% to Rs 2,072 crore in the reproted quarter under review as against Rs 1,003 crore in Q4FY21.
Jubilant Pharmova: The pharmaceutical contract research and manufacturing firm has entered an agreement with the Army Contracting Command, US through its subsidiary Jubilant HollisterStier LLC to expand critical vaccine manufacturing capacity. The company said the effort was funded under the American Rescue Plan. Under this agreement, the company will double its injectable filling production capacity at a total cost of $193 million, at its Spokane, Washington manufacturing facility.
Dish TV India: The direct-to-home company reported widening of its consolidated net loss to Rs 2,031.99 crore for the fourth quarter ended in March 2022 on account of exceptional items which include impairment charges. It had reported a net loss of Rs 1,415.23 crore in the same period a year ago. Its revenue from operations was down 14.50% to Rs 642.70 crore during the quarter under review as against Rs 751.75 crore of the corresponding quarter.
Aurobindo Pharma: The drug manufacturer reported a 28% decline in its consolidated net profit at Rs 576.14 crore in the fourth quarter ended March 2022. It had posted a consolidated net profit of Rs 801.18 crore in the same period of the preceding fiscal. Its consolidated total revenue from operations during the quarter stood at Rs 5,809.37 crore as compared to Rs 6,001.5 crore in the same period a year ago.
Wockhardt Ltd: The pharmaceuticals firm reported a widening of consolidated net loss to Rs 311 crore in the fourth quarter ended March 2022. The company had posted a consolidated net loss of Rs 107 crore in the same period previous fiscal. Its consolidated total income during the quarter under review stood at Rs 669 crore as compared to Rs 640 crore in the year-ago period.
Radico Khaitan: The liquor maker reported a 31.79% decline in its consolidated net profit to Rs 50.15 crore for the fourth quarter ended March 2022 on account of elevated commodity prices. The company had posted a consolidated net profit of Rs 73.53 crore in the January-March quarter a year ago. Its revenue from operations was up 9.43% to Rs 3,224.45 crore during the quarter under review as against Rs 2,946.43 crore in the corresponding quarter of the previous fiscal.
SpiceJet: The aviation regulator DGCA has imposed a fine of Rs 10 lakh on the company for training its Boeing 737 Max aircraft’s pilots on a faulty simulator as it could have adversely impacted flight safety, sources said on Monday. “The training being imparted by the airline could have adversely affected flight safety and hence was nullified,” one of the sources stated.
TVS Motor Company: The two-wheeler maker said that the increase in the Third-Party (TP) motor insurance premium would further dent the efforts of the two-wheeler industry to come out of the challenging market conditions. The Ministry of Road Transport and Highways, last week, increased the third-party (TP) motor insurance premium for various categories of vehicles with effect from June 1, a decision that is likely to increase the insurance cost of cars and two-wheeler.
Campus Activewear: The footwear brand reported a 296% year-on-year growth in consolidated profit at Rs 39.60 crore in quarter ended March 2022, driven by higher operating income and revenue. Revenue grew by 28% to Rs 352.3 crore during the same period.
Lemon Tree Hotels: The company has signed a licence agreement for a 40-room hotel at Chirang, Assam, under its brand ‘Keys Select, by Lemon Tree Hotels’. The hotel is expected to be operational by June, 2026. Subsidiary Carnation Hotels Private Limited will be operating this hotel.
NBCC (India): Profit slides 52% on-year; revenue dips 11.3% on-year. The construction firm recorded a 52% on-year fall in profit at Rs 41.1 crore in quarter ended March 2022, impacted by lower topline and exceptional loss. Revenue declined 11.3% to Rs 2,441 crore during the same period.
KNR Constructions: The infrastructure company reported a 49% YoY growth in profit at Rs 141 crore in Q4FY22, supported by higher operating income and other income. Revenue grew by 11.3% to Rs 1,102 crore compared to same period last year.
Dilip Buildcon: The company posted a loss of Rs 41.09 crore for March 2022 quarter against profit of Rs 186.2 crore in the corresponding period last year. Revenue declined 15% YoY to Rs 2,663.7 crore in Q4FY22. The company appointed Sanjay Kumar Bansal as Chief Financial Officer (CFO) in place of Radhey Shyam Garg, who has designated as President – Finance.
Stove Kraft: The company reported a 55% year-on-year decline in profit at Rs 8.6 crore for the quarter ended March 2022 impacted by weak operating performance. Revenue grew by 11% to Rs 261.3 crore during the same period.
PC Jeweller: The company posted a loss at Rs 173 crore in March 2022 quarter against profit of Rs 60 crore in same period last year on lower revenue. Revenue from operations declined sharply to Rs 189 crore in Q4FY22, compared to Rs 868 crore in corresponding period last year.