Amid global cues the Indian benchmark indices are likely to see a flat opening on Wednesday. At 7:05 am, the SGX Nifty was trading 7.00 points or 0.04 percent lower at 15,624.00, indicating a subdued start for the broader index in the country.
Top stock to look for the day:
Hero MotoCorp
The company sold 1,83,044 units of two-wheelers in May 2021, against 1,12,682 units sold in the corresponding period last year.
ITC
The company’s Q4FY21 net profit fell to Rs 3.748 crore from 3,797 crore in Q4FY20. While revenue increased to Rs 13,294.66 crore from Rs 10,842.28 crore, YoY.
Infosys
The Securities and Exchange Board of India (SEBI) has barred eight entities, including two employees for indulging in insider trading practices in the shares of the company. Meanwhile the IT major said it will initiate an internal investigation into the matter.
Eicher Motors
The company’s marquee model the Royal Enfield sold 27,294 motorcycles in May 2021, against 19,113 units sold in May 2020.
Gujarat Gas
The company’s Q4FY21 consolidated profit jumped to Rs 350.86 crore from Rs 250.46 crore in the same period last year. While revenue rose to Rs 3,489.31 crore from Rs 2,722.17 crore, YoY. The Gujarat state owned company approved the acquisition of city gas distribution business for Amritsar and Bhatinda Geographical Area as a going concern, on slump sale basis, from Gujarat State Petronet (GSP) for Rs 163.31 crore.
Route Mobile
The cloud communications platform company has partnered with Emirates Integrated Telecommunications Company (EITC) – du, to launch its Global A2P Messaging Hub, which will be a new service in the region.
Welspun Corp
The company said owing to the pandemic and the lockdown restrictions, the work relating to regulatory approvals for the sale of its PCMD division was delayed beyond May 31, 2021. They will receive the balance consideration on obtaining aforesaid regulatory approvals and payment milestones.
Delta Corp
The casinos operated by the company and its subsidiaries in Goa will remain closed till June 7 due to the extension of COVID-19 related restrictions in the state.
NGL Fine-Chem
The company reported a consolidated profit of Rs 13.83 crore in Q4FY21 against a loss of Rs 0.2 crore in the corresponding period last fiscal. While revenue increased to Rs 71.77 crore from Rs 35.44 crore YoY.
Union Bank of India: The state owned bank has nominated A K Vinod as its chief compliance officer.
List of companies which are going to declare their quarterly results: Lyka Labs, Muthoot Finance, MTAR Technologies, Motherson Sumi Systems, NRB Bearings, Panacea Biotec, PVR, Ratnamani Metals & Tubes among others will release their quarterly results on June 2.
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