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Stocks to Watch: ONGC, Blue Star, Adani Group, Tata Steel, Ambuja Cements, and Others


The Singapore Exchange's Nifty futures declined by 40 points, or 0.22 percent, to close at 18,233, indicating a bad start for Dalal Street on Tuesday.

Earnings Watch: Several well-known firms are slated to release their March quarter results today, including Ambuja Cements, Adani Total Gas, Fino Payments Bank, Jindal Hotels, PSB, Spandana Sphoorty, Tata Steel, Uco Bank, and Varun Beverages.

In light of rumors that the Sebi may contact the Central government or law enforcement authorities in order to get information from foreign jurisdictions in the Adani-Hindenburg matter, shares of the firms headed by Gautam Adani are likely to be in the spotlight.

vehicle stocks: TVS Motor, the top domestic vehicle manufacturer, posted a robust YoY sales gain of 29% in April 2023. Sales at Hero MotoCorp fell 3.1% year over year.

The government has reduced the windfall tax on domestically produced crude oil from Rs 6,4000 per tone to Rs 4,100 per tone, according to ONGC and Oil India.

UltraTech Cement: For the fourth quarter that concluded in March 2023, the company's net profit decreased 36.1% year over year to Rs 1,670.10 from Rs 2,613.75 crore in the previous quarter. However, overall revenue increased 17.7% YoY to Rs 18,562.38 crore.

Sugar stocks: Due to increasing prices and lower-than-expected output in the 2022–2023 season, the Center is likely to implement a general export embargo on sugar.

According to report, the Adani-owned media company's Q4 net earnings fell sharply by 97.6%. From Rs 24.16 crore in the quarter ended March 2022, the net decreased to Rs 0.60 crore during the quarter ended March 2023. Revenue dropped to Rs 66.96 crore, a 35.5 percent YoY decrease.

SBI Card: The business reported a 2.6% YoY rise in Q4FY23 net profit at Rs 596 crore, with an increase in operational and finance expenses being the primary drivers. At Rs 3,917 crore, total revenue increased 30% year over year.

L&T Finance Holdings: The lender with a concentration on small businesses reported a 46% YoY increase in Q4 consolidated net income to Rs 501 billion, helped by improved margins as its high-yielding small business book expanded more quickly.

Blue Star: On May 4, the company's board will evaluate a proposal for a bonus share issuance.

IDFC First Bank: The bank's board of directors has authorized a proposal to borrow up to Rs 5,000 crore in debt.


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