Reliance Industries, UPL, HCL Tech, Tata Power, PVR, Mindtree and more: Top stocks to watch out for on May 9
SUMMARY
Stocks to Watch: Stronger-than-expected jobs data in the US led to investors worrying about higher interest rate while tightening lockdown in Shanghai sent global equities into a tailspin. SGX Nifty50 futures fell 1.2 percent to 16,227.5 points as of 6:51 am on Monday, indicating a lower opening for Indian benchmark indices. Stocks such as Reliance Industries, Campus Activewear, HCL Technologies, Mindtree, L&T Infotech, PVR, Go Fashions India and UPL among others will be closely tracked. Here are top stocks to watch out for in today's trading session -
By CNBCTV18.com May 9, 2022 7:36:49 AM IST (Updated)
Aarti Drugs, BASF India, Borosil, Central Bank of India, Cosmo Films, Gujarat Narmada Valley Fertilizers and Chemicals, Godrej Agrovet, Dalmia Bharat, Infibeam Avenues, Vedant Fashions, PVR, UPL, VST Tillers and Tractors | These companies will detail their quarterly earnings later today.
Reliance Industries | Reliance Industries reported a 10.9 percent sequential increase in revenue from its oil-to-chemical (O2C) business to Rs 1.46 lakh crore for the January-March period, exceeding Street estimates. Consolidated net profit came in at Rs 16,203 crore, slightly below expectation.
HCL Technologies | The IT services company's UK-based subsidiary has acquired Switzerland-based digital banking and wealth management specialist Confinale AG, for 53 million CHF (Swiss Francs).
Tata Power Company | The company reported a 31.4 percent YoY growth in profit at Rs 632.4 crore. Revenue from operations increased by 15.4 percent to Rs 11,960 crore during the same period.
Go Fashion India | The women's bottom-wear brand reported a 73 percent YoY growth in profit at Rs 12 crore in Q4FY22. Revenue from operations grew 29 percent to Rs 116 crore.
Shipping Corporation of India | The company recorded a massive 77.4 percent YoY growth in consolidated profit at Rs 152 crore in the quarter ended March 2022. Revenue from operations grew by 50 percent to Rs 1,314.5 crore during the same period.
Mindtree, L&T Infotech | L&T Group announced a merger of Mindtree and L&T Infotech to create India's next large-scale IT services player. All shareholders of Mindtree will receive 73 shares of L&T Infotech for every 100 shares held. Larsen & Toubro will hold 68.73 percent of L&T Infotech after the merger.
Coromandel International | The company will acquire 45 percent equity stake in Baobab Mining and Chemicals Corporation, a rock phosphate mining company based in Senegal, Africa.
Hariom Pipe Industries | The company recorded a 44.5 percent YoY growth in profit at Rs 9.77 crore in quarter ended March 2022. Revenue was up 33 percent to Rs 124.2 crore in the same quarter.
