Stocks to watch today, May 20: Indian shares are likely to see stock-specific action on May 20 as companies including Bharat Petroleum Corporation, Mankind Pharma and Trident reported their quarterly earnings, while firms such as Bharat Forge, JSW Energy and Indian Hotels Company announced key business developments, including expansion plans, acquisitions and new project agreements.
Here’s the list of stocks to watch in today’s trading session:
Bharat Petroleum Corporation
Profit Marginally Declines
The company reported a marginal 0.7 per cent decline in net profit to Rs 3,191.5 crore compared to Rs 3,214 crore last year. Despite the slight profit dip, revenue rose 6.7 per cent year-on-year to Rs 1,18,649.4 crore.
Trident
Earnings Under Pressure
Trident posted a sharp 23.5 per cent fall in quarterly profit at Rs 102 crore against Rs 133.3 crore a year ago. Revenue also dropped 12.4 per cent to Rs 1,632.5 crore.
Orkla India
Strong Profit Growth
Orkla India delivered a strong performance with profit surging 108.4 per cent to Rs 73.4 crore from Rs 35.2 crore. Revenue also increased 5 per cent year-on-year to Rs 625.8 crore.
Mankind Pharma
Robust Quarterly Performance
Mankind Pharma reported an impressive 31.7 per cent rise in profit to Rs 559.4 crore compared to Rs 424.7 crore earlier. Revenue climbed 11.8 per cent to Rs 3,442.9 crore.
Novelis Inc
Swings to Loss
Novelis Inc reported a loss of USD 84 million against a profit of USD 294 million in the previous year. The decline was largely attributed to fire incidents at its Oswego plant in the US during September and November.
ASK Automotive
Swings to Loss
ASK Automotive recorded robust earnings growth, with profit rising 24.2 per cent to Rs 71.5 crore from Rs 57.6 crore. Revenue jumped 35 per cent year-on-year to Rs 1,147.1 crore.
RITES
Profit Dips Slightly
RITES Ltd reported a modest 2 per cent decline in net profit at Rs 129.97 crore for the quarter. However, the infrastructure and engineering consultancy firm posted higher income of Rs 799.21 crore during the January–March period.
Defence Facility Expansion
Bharat Forge has partnered with the Andhra Pradesh government to establish India’s first private-sector marine gas turbine repair and overhaul facility in Visakhapatnam.
Renewable Energy Push
Dalmia Cement, along with Oyster Renewable Energy, plans to develop a 31.6 MW hybrid renewable energy project in Andhra Pradesh’s Kadapa district.
Stake Acquisition Deal
JSW Energy has signed definitive agreements to acquire an additional equity stake in Toshiba JSW Power Systems.
Transformers and Rectifiers
New Order Win
Transformers and Rectifiers (India) Ltd secured a Rs 175 crore order from Bhanwariya Infra Projects. .
Omaxe
Fundraising for Projects
Real estate developer Omaxe has raised Rs 75 crore from investment firm WSB Partners. The funds will be utilised for the development of two residential housing projects located in Indore and Ujjain.
Sustainable Financing Initiative
Mahindra & Mahindra has partnered with DBS Bank India to introduce a sustainability-linked dealer financing programme.
Hospitality Expansion
Indian Hotels Company (IHCL) announced the signing of a 105-key brownfield Gateway resort in Bharatpur, Rajasthan.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
