Stocks to Watch Today | BPCL, Coal India, Grasim Industries and others in news today - Moneycontrol
Stocks to Watch: Check out the companies making headlines before the opening bell.
Results on May 25: BPCL, Coal India, Deepak Fertilizer, Apollo Hospitals Enterprises, HEG, NHPC, Easy MyTrip, Fortis Healthcare, GMM Pfaudler, InterGlobe Aviation, JaiCorp, Kolte Patil, Bata India, Nalco, PFC, Torrent Pharma, Whirlpool, MSTC.
Indian Hotels | Indian Hotels said its board has reappointed managing director and chief executive officer Puneet Chhatwal for a further term of five years commencing November 6, 2022 up to November 5, 2027 (both days inclusive).
Future Retail | Future Retail Ltd informed exchanges that it won't be able to release its March quarter earnings on May 30 due to board structure imbalance amid multiple resignations by its top level managements. The company said it is taking necessary actions to the fill the vacancies caused by such cessation/resignation. It will announce the captioned results as early as possible after composition of the Board of Directors and the Audit Committee is complied with the provisions of the Act and the Listing Regulations and statutorily capable to approve it.
Bank of India | Bank of India is planning to raise Rs 2,500 crore through either a follow-on offer or a qualified institutional placement in the current financial year. The lender said it will lower government stake to 75 percent from 81 percent.
Grasim Industries | Grasim Industries posted a consolidated net profit of Rs 2,777 crore for the March quarter (Q4FY22), up 62 percent from the year-ago period. Revenue from operations surged 18 percent on-year to Rs 28,811 crore as against Rs 24,402 crore a year back. The company plans to invest Rs 10,000 crore in the paints business over the next three years. It spent Rs 2,437 crore on its capex spent in the fiscal year ending March this year. Out of this, Grasim invested Rs 579 crore in the paints business alone.
Brookfield India REIT | Brookfield India REIT said its board will meet on May 27 to consider fund raising. " Board to meet on May 27 to consider various fund raising options and approve the raising of funds and issue of units of Brookfield India Real Estate Trust, subject to applicable law and, in relation thereto, issue of notice to the unit holders of Brookfield India Real Estate Trust for approval of such fund raise, as applicable" the company said.
Ipca Lab | Ipca Laboratories said its board has approved merging Tonira Exports Ltd and Ramdev Chemical Pvt Ltd, wholly owned subsidiaries with the company, subject to necessary approvals. The firm earlier reported consolidated net profit that fell 19.3 percent on-year to Rs 130.23 crore. Revenue rose 15.6 percent from a year ago to Rs 1,289.10 crore in the quarter.
Metropolis Healthcare | Metropolis Healthcare reported 35 percent on-year drop in net profit to Rs 40 crore in the March quarter. Revenue for the quarter rose 5 percent from a year ago to Rs 306 crore. According to a Bloomberg poll, the firm expected to report a profit of Rs 52.43 crore, while revenue was pegged at Rs 335 crore during the quarter. Total cost rose 20 percent on-year to Rs 255 crore. Earlier, according to news reports, the firm was planning to raise more than $300 million and bring on a strategic partner by selling a major minority stake.
SIS Ltd | SIS Ltd informed exchanges that it has signed definitive agreement for purchase of additional 49.99 percent stake of Terminix SIS India Pvt Ltd from SVM Services Singapore for $100000. SIS and SVM Services (Singapore) Pte Ltd are the shareholders of Terminix and own 50.01 percent and 49.99 percent.
Minda Industries | Minda Industries Ltd said its net profit rose 3 percent to Rs 144 crore in the March quarter as against Rs 140 crore a year ago. Revenue rise 7.90 percent to Rs 2415.08 crore. The firm said its board approved raising Rs 1000 crore through debt. It also approved bonus shares of 1 new share for every share held.
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