In News

Stocks in News

InterGlobe Aviation: Ronojoy Dutta, the chief executive officer of IndiGo, said he will retire on September 30. The firm also said it has appointed Pieter Elbers as the next chief executive officer. The company has postponed its March quarter earnings announcement and now it will be on May 25. 

ITC: Diversified conglomerate ITC reported an 11.8 percent year-on-year (YoY) jump in net profit at Rs 4,191 crore for the fourth quarter ended March 31, 2022 as against Rs 3,755 crore recorded a year ago, due to strong growth across all operating segments. Consolidated revenue rose 15.3 percent on-year to Rs 17,754 crore versus Rs 15,404 crore a year ago. Revenue from cigarette business grew 9.96 percent while non-cigarette FMCG revenue was up 12.32 percent from the corresponding quarter. 

Indraprastha Gas: IGL reported a rise in net profit of 9.24 percent to Rs 361.60 crore in the quarter ended March 2022 as against Rs 331.00 crore during the previous quarter ended March 2021. Revenue rose 55.16 percent to Rs 2,405.92 crore in the quarter ended March 2022 as against Rs 1,550.63 crore during the previous quarter ended March 2021. Total cost surged 72 percent YoY to Rs 2,230 crore. 

Sugar stocks: Sugar stocks like Triveni Engineering, Uttam Sugar Mills, Bajaj Hindusthan, Balrampur Chini will be in focus after the government approved amendments to the National Policy on Biofuels, 2018, to advance the date by which fuel companies have to increase the percentage of ethanol in fuel to 20 percent, from 2030 to 2025. The policy of introducing 20 percent ethanol will take effect from April 1, 2023. 

Manappuram Finance: Manappuram Finance reported a 44 percent decline in its net profit for the March quarter to Rs 261 crore against analysts' estimates of Rs 451 crore a year ago. Revenue fell 9 percent year-on-year to Rs 1,480 crore. Total cost rose 13 percent to Rs 1,140 crore. 

LIC Housing Finance: LIC Housing Finance reported a 174 percent surge in net profit for the March quarter to Rs 1,114 crore from Rs 406 crore a year ago. Revenue for the quarter rose 6.3 percent year-on-year to Rs 5,207.53 crore. Provisions for loan losses for the quarter stood at Rs 177 crore. 

Ratnamani Metals & Tubes: The board approved the issue of bonus shares in the ratio of 1 for 2 held. The firm also recommended a dividend of Rs 14 a share for the fiscal year 2022. For Bonus shares the record date will be on July 1, 2022. 

Pidilite Industries: The company reported a 17.3 percent decline in its net profit for the March quarter to Rs 254 crore from Rs 308 crore a year ago. Revenue for the quarter rose 12 percent year-on-year to Rs 2,507 crore versus Rs 2,235 crore last year. Total cost rose 18 percent year-on-year to Rs 2,178 crore.