Indian benchmark indices are likely to be volatile on Monday, May 3, as trends in SGX Nifty indicate a weak opening. Also, state election results released on Sunday may add to the rough trade. At 09:06 IST, the BSE Sensex was down 604.58 points or 1.24 percent at 48177.78, while the Nifty was down 171.90 points or 1.17 percent at 14,459.20.
Top stock to look for the day:
Reliance Industries
The homegrown oil-to-telecom major reported sharply higher profit at Rs 13,227 crore in Q4FY21 against Rs 6,348 crore in Q4FY20. The company’s revenue jumped to Rs 1,54,896 crore from Rs 1,39,535 crore YoY.
Tata Consultancy Services
Effective May 1, Samir Seksaria has taken over as Chief Financial Officer (CFO) of the company.
Maruti Suzuki India
The company sold 1,59,691 vehicles in April 2021, falling from 1,67,014 vehicles in March 2021.
IndusInd Bank
The bank reported profit at Rs 876 crore in Q4FY21 against Rs 301.8 crore in the corresponding period. Its net interest income rose to Rs 3,534.6 crore from Rs 3,231.2 crore YoY.
Procter & Gamble Health
LIC sold 2 percent stake in the company, reducing its shareholding from 5.82 percent to 3.819 percent.
Tata Motors
The homegrown automaker sold 41,739 vehicles in April 2021, down 40.6 percent compared to 70,263 vehicles sold in March 2021.
DCB Bank
The bank bought 2.89 percent stake in India International Exchange (IFSC), and 4.93 percent stake in India International Clearing Corporation (IFSC) based at Gift City IFSC at Gandhinagar, for Rs 5 crore each.
Trent
The retail hand of Tata group reported higher consolidated profit at Rs 17.44 crore in Q4FY21 against Rs 3.21 crore in Q4FY20. The company’s revenue rose to Rs 905.55 crore from Rs 842.93 crore YoY.
Escorts
The Indian agri-machinery, construction machinery giant sold 6,979 tractors in April 2021, falling sharply from 12,337 units in March 2021.
Astec Lifesciences
The company reported lower consolidated profit at Rs 23.96 crore in Q4FY21 against Rs 31.18 crore in the same period last year. Its revenue fell to Rs 171.92 crore from Rs 180.57 crore YoY.
Yes Bank
The bank posted loss at Rs 3,787.75 crore in Q4FY21 against loss of Rs 3,668.3 crore in the same period last year. Its net interest income fell to Rs 986.7 crore from Rs 1,273.7 crore YoY.
Mahindra & Mahindra
The company sold 27,523 tractors in April, down 11.1 percent compared to 30,970 tractors sold in March 2021. However, its passenger vehicle sales increased to 18,285 units in April from 16,700 units in March, while commercial vehicle sales declined to 16,147 units from 21,577 units in the same period.
Eicher Motors
VE Commercial Vehicles Limited (VECV) sold 2,145 units in April 2021, declining from 7,037 units in March.
Indian Hotels Company
The hospitality major posted a consolidated loss at Rs 97.72 crore in Q4FY21 against profit at Rs 76.29 crore in Q4FY20. The company also approved raising of long term funds up to Rs 275 crore by way of external commercial borrowings, foreign currency borrowings, among others in one or more tranches.
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