Stocks in the news: LIC, IRCTC, Delhivery, M&M and more

The Indian market is expected to open lower today as SGX Nifty fell 52 points to 16,595. The stock market finished higher for the third straight session on Monday amid positive global indices. Sensex gained 1,041.08 points or 1.90% to finish at 55,925.74. Nifty jumped 308.95 points or 1.89% to close at 16,661.40. Titan, M&M, Infosys, Larsen & Toubro, Tech Mahindra, HCL Technologies, TCS, Reliance Industries and UltraTech Cement were Sensex’s top gainers, rising 4.94%. Kotak Mahindra Bank, Sun Pharma, Dr Reddy’s and ITC were Sensex’s only losers, falling 2.23%.

Share Market Live: Sensex and Nifty set to open lower today

Here’s a look at stocks that are likely to stay in focus today.

LIC: The insurer reported an 18% decline in its standalone net profit to Rs 2,372 crore for the fourth quarter ended March 31, 2022. The insurance company had recorded a profit of Rs 2,893 crore during the period of the previous year. LIC’s net premium income rose to Rs 1.44 lakh crore in the quarter under review from Rs 1.22 lakh crore in the same quarter of the prior year. LIC’s consolidated net profit for the March quarter also fell by 17% to Rs 2,409 crore from Rs 2,917 crore a year ago.

Delhitrès: The logistics technology company reported an almost flat net loss at Rs 120 crore for the fourth quarter ended March 31, 2022. The company had recorded a loss of Rs 118 crore in the prior year period. On the other hand, Delhivery saw its revenue increase more than twice to Rs 2,072 crore in the quarter under review from Rs 1,003 crore in the same quarter of the previous fiscal year.

Sun Pharma: The company said its consolidated net loss stood at Rs 2,277 crore for the fourth quarter ended March 2022, mainly due to a one-time exceptional loss. The Mumbai-based pharmaceutical major had reported a net profit of Rs 894 crore in the January-March 2020-21 period. Consolidated operating sales amounted to Rs 9,386 crore in the fourth quarter. The company had reported operating sales at Rs 8,464 crore in the prior year period.

Satellite TV: The direct-to-home business reported a widening of its consolidated net loss to Rs 2,031.99 crore for the fourth quarter ended March 2022 due to exceptional items which include impairment charges. The company had reported a net loss of Rs 1,415.23 crore in the January to March quarter a year ago.

Radico Khaitan: The company reported a 31.79% decline in its consolidated net profit to Rs 50.15 crore for the fourth quarter ended March 2022 due to continued commodity inflation. The company had posted a consolidated net profit of Rs 73.53 crore in the January-March quarter a year ago, Radico Khaitan said in an ESB filing.

Wockhardt: The pharmaceutical company reported a widening in consolidated net loss to Rs 311 crore in the fourth quarter ended March 31, 2022. The company had recorded a consolidated net loss of Rs 107 crore in the same period of the previous financial year.

Mahindra and Mahindra: The company has announced that it will sell its entire 2.76% stake in TVS Automobile Solutions Private Limited (TASPL). Currently, the M&M holds 3,32,195 equity shares of Rs 10 each and 100 mandatory convertible preference shares of Rs 10 each in TASPL.

IARC: Indian Railway Catering and Tourism Corporation (IRCTC) reported a 105.7% increase in net profit to Rs 213.78 crore for the quarter ending March 31, 2022. Indian Railways Catering and Tourism arm reported a net profit of Rs 103.78 crore during the year. -a period ago, mainly due to the misfortunes of COVID-19.

Aurobindo Pharma: The drugmaker announced a 28% drop in its consolidated net profit to Rs 576.14 crore in the fourth quarter from a consolidated net profit of Rs 801.18 crore in the same period of the previous financial year.

Varroc Engineering: The auto parts manufacturer and supplier recorded a net loss of Rs 284.96 crore for the quarter ended March 2022 compared to a net loss of Rs 144.32 crore in the corresponding quarter of FY21.

Comments are closed.