Buzzing Stocks: PNB, M&M, Bharat Forge, rate sensitive stocks and others that will be in focus today
Results on June 4: Punjab National Bank, Bank of India, Bharat Forge, MOIL, Ambalal Sarabhai Enterprises, Asahi Songwon Colors, Balkrishna Paper Mills, CHD Chemicals, Foods & Inns, Gufic Biosciences, Hotel Rugby, IOL Chemicals & Pharmaceuticals, Jai Corp, Jigar Cables, Jubilant Pharmova, Keltech Energies, Kranti Industries, NIIT, Paisalo Digital, Pennar Industries, Simbhaoli Sugars, and Varroc Engineering.
Rate sensitive stocks: Rate sensitive stocks will be in focus as the RBI is scheduled to announce its decision in interest rates. Experts told PTI the central bank is likely to keep the benchmark interest rate unchanged given COVID-19 uncertainty and fears over inflation. Repo rate (lending rate) is likely to continue at 4 percent and reverse repo rate (RBI’s borrowing rate) at 3.35 percent. SBI, Canara Bank, HDFC Bank, ICICI Bank, Maruti, Tata Motors, Bajaj Auto, DLF, Indiabulls Real Estate, Godrej Properties among others will be in focus.
Mahindra & Mahindra: Ministry of Defence signed a contract with Mahindra Telephonics Integrated Systems for procurement of 11 airport surveillance radars with monopulse secondary surveillance radar for Indian Navy and Indian Coast Guard. The procurement, at a cost of Rs 323.47 crore, will be made under the 'buy & make' category.
BEML: The company has started manufacturing 960 LPM medical oxygen plants at its KGF complex in record time under a ToT agreement with Defence Bio-Engineering & Electro Medical Laboratory (DEBEL), Bengaluru under DRDO.
Gujarat State Petronet: The company reported higher consolidated profit at Rs 577.5 crore in Q4FY21 against Rs 497.67 crore in Q4FY20, revenue rose to Rs 3,828.65 crore from Rs 3,207.41 crore YoY.
Shilpa Medicare: Tano Mauritius India FVCI II sold 30 lakh equity shares in Shilpa Medicare at Rs 511.08 per share, whereas India Opportunities Growth Fund Ltd - Pinewood Strategy acquired 8.7 lakh equity shares at Rs 511 per share on the BSE, the bulk deals data showed.
Power Mech Projects: HDFC Mutual Fund bought 1.3 lakh equity shares in Power Mech at Rs 633 per share on the NSE, the bulk deals data showed.
Lupin: The pharma company launched authorized generic version of Brovana (arformoterol tartrate) Inhalation Solution 15 mcg/2 mL, unit-dose vials, of Sunovion Pharmaceuticals Inc, in the United States. The drug is used for the maintenance treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease.
Som Distilleries & Breweries: The company reported consolidated profit at Rs 3.7 crore in Q4FY21 against loss of Rs 4.97 crore in Q4FY20, revenue rose to Rs 191.62 crore from Rs 161.55 crore YoY.
Cupid: The company reported profit at Rs 6.47 crore in Q4FY21 against Rs 10.43 crore in Q4FY20, revenue fell to Rs 41.69 crore from Rs 42.69 crore YoY.
Nucleus Software Exports: The company reported consolidated profit at Rs 27.35 crore in Q4FY21 against Rs 28.14 crore in Q4FY20, revenue fell to Rs 124.18 crore from Rs 138.23 crore YoY.
DCB Bank: DCB Bank revised marginal cost of funds based lending rate effective from June 5.
Nilkamal: The company reported higher consolidated profit at Rs 38.17 crore in Q4FY21 against Rs 31.74 crore in Q4FY20, revenue rose to Rs 679.92 crore from Rs 561.45 crore YoY.
