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Stocks to Watch: Vedanta, BPCL, Shree Cement, EIH, JSW Steel and more
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Stocks to Watch: Vedanta, BPCL, Shree Cement, EIH, JSW Steel and more
May 22, 2023 9:19 PM

Vedanta | Billionaire Anil Agarwal-led mining company announced an interim dividend of Rs 18.50 per share, the first for the financial year 2023-2024. The record date for the payment is May 30.

BPCL | The state-owned company reported a 159 percent year-on-year jump in net profit at Rs 6,477.7 crore for the fourth quarter ended March 2023, boosted by recovery in fuel marketing margins. The revenue from operations stood at Rs 1.18 lakh crore against Rs 1.23 lakh crore in the corresponding period of the preceding fiscal.

Shree Cement | The Kolkata-based cement company posted a standalone net profit of Rs 546.2 crore for the January-March 2023 quarter, a 15.3 percent year-on-year decline. The standalone revenue stood at Rs 4,785.1 crore during the period under review, 16.7 percent up from Rs 4,099 crore in the year-ago period.

JSW Steel | The company said NCLT-Mumbai has approved Rs 621-crore resolution plan submitted by its subsidiary JSW Steel Coated Products Ltd (JSWSCPL) for debt-laden National Steel and Agro Industries Ltd (NSAIL).

Indiabulls Housing Finance | The company reported a 14.4 percent fall in net profit for the quarter ended March, at Rs 262.6 crore against Rs 306.8 crore in the year-ago period. The net interest income (NII) rose 13.5 percent to Rs 733.6 crore, and the consolidated revenue from operation fell by 5.2 percent to Rs 2,075 crore as compared to Rs 2,189 crore in the year-ago period.

Finolex Industries | The company reported a 66.4 percent year-on-year decline in net profit at Rs 166.5 crore for the fourth quarter ended March 2023. Total revenue stood at Rs 1,141.1 crore during the period under review, down 28.4 percent year-on-year.

EIH | The Oberoi Group company posted a 460 percent year-on-year leap in its consolidated net profit for the quarter ended March. The consolidated revenue from operations for the period under review jumped 111.6 percent, while the EBITDA escalated 1,076 percent to Rs 675 crore. Margin increased 32.2 percent on year-on-year basis.

Spencer's Retail | The company said its consolidated net loss widened to Rs 61.22 crore for the quarter ended March, from a net loss of Rs 42.47 crore in the January-March period a year ago. The revenue from operations were marginally up at Rs 543.39 crore during the quarter under review against Rs 541.84 crore in the year-ago period.

PB Fintech | The company reported a net loss of Rs 8.9 crore for the Jan-March quarter. Revenue stood at Rs 869.1 crore during the period, up 61 percent against Rs 540.29 crore in the corresponding period of the preceding fiscal.

Dhanlaxmi Bank | The private sector lender reported a 63.3 percent year-on-year jump in net profit to Rs 38.2 crore for the quarter ended March 2023. The net interest income or NII increased 19.5 percent on year-on-year basis to Rs 115.2 crore, up from 96.4 percent in the corresponding period in the previous fiscal.

Coal India | The state-owned company reached an agreement with its 2.38 lakh strong non-executive workers over the revision of wages. Under the agreement reached, a 19 percent minimum guaranteed benefit from July 1, 2021, on emoluments (basic, VDA, SDA & attendance bonus) and a 25 percent increase in allowances have been granted.

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