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Stocks In Focus On May 3, 2021

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On weak global cues and surging coronavirus cases in India, Indian stock markets are likely to open lower. Here are few of the stocks that shall be in stock today after earnings and other developments.

 

Stocks In Focus On May 3, 2021
Stocks In Focus On May 3, 2021

1. Reliance Industries:

Reliance Industries has reported just double the profit of Rs. 13227 crore for the quarter ending March of FY21 in comparison to Rs. 6348 crore in the year ago period. Revenue at the company also recorded a surge to Rs. 1,54,896 crore from Rs. 139525 crore.

In its O2C segment, the company saw recovery in both the upstream and downstream activities but now the second wave of the pandemic poses risk for the segment's growth.

2. IndusInd Bank:

The private sector lender on Friday reported a 193 per cent YoY jump in consolidated profit after tax at Rs 926 crore for the March quarter on lower provision s and higher NII.

3. Yes Bank:

The lender's loss widened from Rs. 3688 crore a year ago to Rs. 3788 crore in the March quarter of FY21. In the previous quarter, the bank posted a net profit of Rs. 148 crore.

4. Auto companies:

Auto majors shares will be in focus after the company posted April sales figure. Maruti Suzuki posted the highest sales for the month. Also, some others like Hero Motocorp will shut the manufacturing facilities amid surging Covid 19 cases.

5. HDFC Bank:

The private sector lender announced wide scale organization rejig on Friday. There has been now 3 pillars of 'business verticals', 'delivery channels' and, 'technology and digital', as per a statement.

6. Mahindra and Mahindra (M&M):

The company has inked a pact with Meru for increasing its stake to 100 percent in the ride hailing firm. M&M will acquire 44.14 per cent shares from private equity investor True North and others for an amount not exceeding Rs 76.03 crore and 12.66 per cent shares from Neeraj Gupta and Farhat Gupta, for an amount not exceeding Rs 21.63 crore, it added. And after his arrangement, M&M will enhance its current shareholding in Meru from 43.20 per cent to 100 per cent.

 

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