The Indian market is likely to open on a flat note today amid mixed global cues. SGX Nifty was trading 15 points lower at 16,243, indicating a flat start to the new trading week.
On Friday, the 30-stock Sensex ended 1,534.16 points higher at 54,326.39. Nifty zoomed 456.75 points to 16,266.15.
All Sensex stocks ended in the green.
Dr. Reddy’s Labs, Reliance Industries, Tata Steel, Nestle, Larsen & Toubro, Axis Bank, IndusInd Bank, Sun Pharma, State Bank of India, and HDFC were the top Sensex gainers, rising up to 8.10 per cent.
Here’s look at stocks that are likely to remain in news today.
Paytm: The fintech major’s parent One 97 Communications reported a widening of consolidated net loss to Rs 763 crore for quarter ending 31 March, 2022. The firm had posted a loss of Rs 778.5 crore in the December quarter and Rs 444 crore in the year-ago period.
JK Cement: The firm plans to raise up to Rs 500 crore via non-convertible debentures (NCDs) on a private placement basis in one or more tranches. The company’s board has recommended the proposal in this regard for approval of shareholders in the next AGM of the company.
DLF: The company’s net debt fell 45 per cent during the last fiscal year to Rs 2,680 crore on the back of better sales of residential properties that improved its cash flow. According to an investor presentation, DLF’s net debt stood at Rs 2,680 crore as on March 31, 2022. Its net debt stood at Rs 4,885 crore at the end of 2020-21 financial year.
Infosys: The homegrown software firm announced that its Board of Directors has reappointed Salil Parekh as Chief Executive Officer and Managing Director of the Company from July 1, 2022, to March 31, 2027. Infosys, in a public statement to BSE, said, “Reappointment of Salil Parekh (DIN: 01876159) as Chief Executive Officer and Managing Director of the Company from July 1, 2022, to March 31, 2027, subject to the approval of shareholders.”
Indiabulls Housing Finance: Mortgage financier Indiabulls Housing Finance Company reported an 11.23 per cent rise in profit after tax (PAT) to Rs 307 crore for the fourth quarter ended March 2022 on lower credit cost and higher profit from its co-lending business. The company had posted a profit after tax of Rs 276 crore in the year-ago quarter.
Power Grid Corporation: The state-owned utility player reported an 18 per cent rise in its consolidated net profit at Rs 4,156.44 crore for the March 2022 quarter, backed by higher income. Net profit stood at Rs 3,526.23 crore in the year-ago quarter.
Sobha Ltd: The realty firm reported a 40 per cent rise in its net profit for the March quarter to Rs 25 crore against Rs 18 crore a year ago. Revenue climbed 30 per cent to Rs 766.80 from Rs 588.90 crore last year. The firm realised its highest ever quarterly sales value of Rs 1,110 crore with a sales volume of 1.34 million sq ft.
Uttam Galva Steels: The metal producer said its consolidated net loss fell to Rs 25.83 crore in Q4 against a loss of Rs 68.04-crore net loss in the year-ago period.