Reliance Industries, Tata Power, TVS Motor, Tata Motors and more: Top stocks to watch on May 6

SUMMARY

Stocks to watch: Sell-off in the US and Asian markets are expected to weigh on Indian equities at open. A 1.3 percent dip in Singapore Exchange-traded Nifty50 futures to 16,470.5 as of 7:05 am on Friday, hinted at a lower opening for key Indian indices. Stocks such as Reliance Industries, Tata Power, TVS Motor, Tata Motors, Voltas, Mahindra and Mahindra, CEAT among others will be closely tracked. Here are top stocks to watch out for in trade today-

By CNBCTV18.comMay 6, 2022 7:31:06 AM IST (Updated)

Reliance Industries, Apollo Pipes, Bajaj Consumer Care, Canara Bank, Federal Bank, Great Eastern Shipping Company, Shipping Corporation of India, Tata Power | These companies will report their quarterly numbers today.

Phoenix Mills | The company has announced the completion of acquisition of balance 50 percent equity stake in Classic Mall Development Company from Crest Ventures and Escort Developers. Phoenix Mills has paid Rs. 9,360 million to acquire the 50 percent stake held by Crest Ventures and Escort Developers.

Tata Motors | Tata Motors has announced its foray into electric last mile cargo segment with the Ace EV.

TVS Motor Company | The automobile company reported lower than expected numbers for the quarter ended March. Net profit fell 5 percent year-on-year (YoY) to Rs 274.5 crore while revenue was up 4 percent at Rs 5,530.3 crore.

Voltas | The company reported lower than estimated earnings for the fourth quarter of FY22. Net profit fell 23.5 percent year-on-year (YoY) to Rs 182.7 crore whereas revenue was up 4 percent at Rs 2,666.6 crore.

Mahindra and Mahindra | The Mahindra Group has initiated a restructuring to trifurcate its flagship automobiles business which contributes 55 percent to the group revenue, said a news report. The exercise, which is understood to be in the early stages, will involve separating the electric vehicle, tractor and passenger vehicle businesses into three independent companies via a demerger process. Currently, these are housed under Mahindra & Mahindra as separate divisions, it added.

Blue Dart Express | The express air and integrated transportation company posted a growth of 20.7 percent year-on-year (YoY) in its standalone profit after tax at Rs 135 crore in the fourth quarter ended March 22. Revenue from operations for the quarter jumped 21 percent on year to Rs 1,166 crore. The company declared a total dividend of Rs 60 per equity share for FY21-22.

CEAT | CEAT posted a decline of 83 percent in its consolidated net profit for the fourth quarter ended March 22 to Rs 25.25 crore. The revenues however rose 13 percent on year to Rs 2,592 crore. The company declared a dividend of Rs 3 per equity share for FY22.

DCM Shriram | DCM Shriram declared a 73 percent year-on-year (YoY) rise in its net profit at Rs 401 crore for the fourth quarter ended March 22. Its net revenue from operations grew 28 percent on year to Rs 2,796 crore. The company declared a final dividend of 245 percent taking the total dividend for the year to 735 percent.

Sona BLW Precision Forgings | Profit after tax for the fourth quarter ended March 22 soared 76 percent to Rs 105 crore as compared to Rs 60 crore reported during the same period last year. Revenue was up merely 2 percent on year to Rs 550 crore. The company has declared a dividend of Re 0.77 per equity share for FY22.