Stocks to watch: ZEEL, HPCL, Axis Bank, IB Housing Fin, fertiliser stocks
Nifty futures on the Singapore Exchange traded flat with a negative bias, indicating a muted start for benchmark indices in Thursday’s session.
Here are the top stocks to track in today’s session:
Earnings Today: Havells India, Zee Entertainment Enterprises, HPCL and Torrent Power are among 32 firms slated to post ther quarterly numbers today.
Fertiliser stocks: Shares of fertiliser companies will be in focus today after the central government announced an increase in the subsidy for di-ammonium phosphate fertiliser to Rs 1,200 per bag from Rs 500 per bag. Price of fertilisers is increasing amid higher prices of raw inputs like phosphoric acid and ammonia, among others.
Axis Bank: The Rs 4,000-crore share sale in Axis Bank was subscribed more than two times on Wednesday. The 52.27-million-share offer for sale (OFS) saw bids for nearly 135 million shares from non-retail investors. The OFS would open for retail investors today.
Tanla Platforms: The company reported a consolidated net profit of Rs 102.54 crore for the fourth quarter ended March 2021 as against a net loss of Rs 89.12 crore in the year-ago period.
IB Housing Finance: Mortgage financier Indiabulls Housing Finance on Wednesday reported a two-fold jump in its profit after tax to Rs 276 crore in the quarter ended March 2021 helped by stable asset quality.
JK Tyre: JK Tyre and Industries reported a consolidated profit after tax of Rs 194.96 crore for the March quarter of the previous fiscal against a consolidated loss of Rs 52.78 crore in the year-ago period.
TCI Express: The company reported a 123.9 per cent YoY rise in net profit at Rs 42.57 crore for the quarter ended March 31. The company had posted a net profit of Rs 19.01 crore in the year-ago period.
Tata Steel: Fitch upgrades Tata Steel rating to BB with a stable outlook.
lndo Rama Synthetics (India): The board has approved capex plan up to Rs 600 crore in the company and its wholly-owned subsidiary at Butibori in Nagpur towards the addition of balancing equipment, manufacturing of specialty yarns and to install a 700 TPD PET Resin manufacturing facility.
Endurance Technologies: The company reported a consolidated profit of Rs 187.4 crore in Q4FY21 as against Rs 106.8 crore in Q4FY20.
Sintex Industries: The company’s plant situated at Lunsapur in Gujarat has been damaged due to cyclone Tauktae. The quantum of loss and estimated impact on the production due to the cyclone is being determined, the company said.