Summary:
Several stocks are expected to remain in focus on Monday following earnings announcements and corporate developments. Key names include Tata Steel, RBL Bank, Coal India, and Adani Ports and Special Economic Zone amid strong Q4 results, acquisition deals, IPO approvals, and fundraising updates.
Stock-specific activity is anticipated in Indian markets on Monday following the declaration of healthy quarterly results, acquisition initiatives, regulatory clearances, and fund-raising activities by firms in various sectors.
Tata Steel Shows Profits Jumping Sharply in Q4
Tata Steel delivered a robust performance for the quarter ended March, with net profits jumping 146.9% year-over-year to ₹2,965 crore. The firm recorded an increase of 12.5% year-over-year in its revenue from operations at ₹63,270 crore.
Healthy Results from ITC Hotels, SAIL and Godfrey Phillips
ITC Hotels achieved robust Q4 performance with profit rising 23% YoY to ₹315.9 crore and revenue up 18.2% to ₹1,253.7 crore amidst good demand in the hospitality sector.
Steel Authority of India Limited (SAIL), a government-owned steel company, posted a 46.6% profit gain with profit at ₹1,835.5 crore on the back of a 5.1% rise in revenue.
On the other hand, Godfrey Phillips India witnessed a sharp increase in quarterly profit by 86.7% YoY to ₹521.4 crore owing to growth in revenue. Consolidated Net Profit Rises Despite Drop in Revenue
For the quarter, Power Grid Corporation of India witnessed a 9.7% increase in consolidated net profit to ₹4,546.3 crore. However, revenue was down 5% YoY at ₹11,665.6 crore.
Coal India In Focus After MCL IPO Approval
Coal India will remain in focus after DIPAM approved the listing of subsidiary Mahanadi Coalfields (MCL). The IPO may include a fresh issue of shares along with an offer for sale of up to 25% stake by Coal India.
RBL Bank Gains Attention On Emirates NBD Stake Acquisition
RBL Bank announced the completion of regulatory approvals related to the proposed strategic investment by Emirates NBD Bank. The foreign lender has received approval to acquire more than 49% and up to a 74% stake in the bank.
Adani Ports Expands International Presence
Adani Ports and Special Economic Zone said its subsidiary has signed a share purchase agreement to acquire a 51% stake in Meridian Transportes Marítimos SA, strengthening its global logistics footprint.
HFCL, Aurobindo Pharma And Emcure Pharma Also In Focus
HFCL secured an export order worth around ₹106 crore for optical fiber cable supplies from an international customer.
Aurobindo Pharma received CDSCO approval for its cancer biosimilar drug Bevqolva through subsidiary CuraTeQ Biologics.
Meanwhile, Emcure Pharmaceuticals said the US FDA issued seven procedural observations after inspecting its formulations facility in Ahmedabad.
Other Stocks To Watch
Power Finance Corporation and REC will remain in focus after developments regarding their proposed merger.
Allcargo Terminals reported a 7% YoY rise in April cargo volumes, while Aditya Birla Capital is set to consider a fundraising proposal at its board meeting on May 20.
