Wednesday, 10 May 2023

Buzzing Stocks: Asian Paints, L&T, Godrej Consumer, Gujarat Gas, others in focus today

Results on May 11: Asian Paints, Eicher Motors, Siemens, Aditya Birla Capital, Balrampur Chini Mills, BLS International Services, CARE Ratings, Deepak Nitrite, Gillette India, Gujarat State Petronet, Intellect Design Arena, Dr Lal PathLabs, PTC India Financial Services, Shankara Building Products, South Indian Bank, Ujjivan Small Finance Bank, and Zensar Technologies will be in focus ahead of quarterly earnings on May 11.

Larsen & Toubro: The engineering and infrastructure major has recorded a 10% year-on-year growth in consolidated profit at Rs 3,987 crore in the quarter ended March FY23 despite a drop in operating margin. Revenue from operations grew by 10% to Rs 58,335 crore compared to the year-ago period. The board has recommended a final dividend of Rs 24 per share. The order inflow for FY23 crossed Rs 2 lakh crore, coming in higher by 19% YoY at Rs 2.3 lakh crore. The board has also decided to confer the status of Chairman Emeritus on A M Naik after he decided to step down as Non-Executive Chairman of the L&T Group at the end of his tenure on September 30, 2023, and appointed S N Subrahmanyan as Chairman and Managing Director of L&T with effect from October 1, 2023.

Dr Reddy's Laboratories: The pharma major has registered an 11-fold year-on-year increase in profit at Rs 959 crore for the March FY23 quarter as profit in Q4FY22 was impacted by impairment of non-current assets, but supported by healthy operating performance. Revenue for the quarter increased by 16% to Rs 6,297 crore compared to the year-ago period, with North America business growing 27%, Europe 12%, and India business showing a 32% growth YoY. The board recommended a final dividend of Rs 40 per share for FY23.

Hindalco Industries: Subsidiary Novelis said its net income attributable to the common shareholder in Q4FY23 was $156 million, down 27% compared to the year-ago period. Net income from continuing operations excluding special items was $175 million, down 7% YoY, while adjusted EBITDA of $403 million fell 6% YoY.  

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Buzzing Stocks: Asian Paints, L&T, Godrej Consumer, Gujarat Gas, others in focus today

Results on May 11: Asian Paints, Eicher Motors, Siemens, Aditya Birla Capital, Balrampur Chini Mills, BLS International Services, CARE Rat...