The market gained for the first time in the last seven consecutive sessions on May 16 but the volatility remained elevated, indicating that there is still discomfort for bulls and more volatile swings going ahead. The BSE Sensex rose 180 points to 52,974 after losing more than 5 per cent in the previous six consecutive sessions, while the Nifty50 gained 60 points at 15,842.
Results Today
Bharti Airtel, Indian Oil Corporation, DLF, PI Industries, Abbott India, Bajaj Electricals, Bajaj Healthcare, EID Parry (India), Indoco Remedies, IRB Infrastructure Developers, Jubilant Ingrevia, Kajaria Ceramics, Dr Lal PathLabs, Minda Corporation, Sapphire Foods India, Fairchem Organics, Galaxy Surfactants, GMR Infrastructure, NOCIL, Nucleus Software Exports, Sun Pharma Advanced Research Company, and Zydus Wellness will be in focus ahead of March quarter earnings on May 17.
Life Insurance Corporation (LIC)
Shares of PSU stocks will be under focus ahead of the Life Insurance Corporation of India’s listing on May 17. The grey market premium trading at discount of Rs 30 a share. LIC likely to list at flat to negative on exchanges amid volatility in the global equity markets, analysts said.
InterGlobe Aviation
Shares of InterGlobe Aviation will be in focus after the firm said it got DGCA communications on the handling of a special child at Ranchi Airport. DGCA prima facie found Indigo’s handling of a special child at Ranchi Airport inappropriate. DGCA will issue a show-cause notice to Indigo to explain. The firm said it will respond the matter in due course.
Aditya Birla Capital
Aditya Birla Capital said on exchanges that the firm has received whistleblower complaint where allegations were made against Aditya Birla Sun Life and employees. The firm said an independent committee investigating the complaint did not find any merit in any allegations. The firm also said that the complaint did not level allegations against CEO Ajay Srinivasan. Srinivasan had express interest in taking on a new role within the group leading to him to stepping down as CEO of Aditya Birla Capital. The firm also said that there have been no employee exit in Aditya Birla Capital and Aditya Birla Sun Life AMC due to the allegations.
IRB Infrastructure
IRB Infrastructure on exchanges said its April gross toll collections stood at Rs 327 crore versus Rs 306.66 crore in March. The gross toll collections in April last year was at Rs 196.64 crore. The firm said on April 21 the toll collection was suspended on account of farmers agitation.
KEC International
KEC International won orders worth Rs 1,150 crore across its various businesses. The company said the diverse orders in the Civil business, further strengthen its portfolio diversification and reaffirms the company’s confidence in the continued strong growth of this business going forward.
SJVN
State-owned SJVN Ltd will develop another hydropower project Arun-4 worth Rs 4,900 crore in Nepal. A Memorandum of Understanding (MoU) for the development of the 490 MW Arun-4 hydroelectric project in Nepal has been signed in Lumbini, Nepal in the presence of Prime Minister Narendra Modi and Prime Minister of Nepal Sher Bahadur Deuba, the company said in a statement.
GlaxoSmithKline
GlaxoSmithKline Pharmaceuticals on Monday reported a Rs 55 crore consolidated net loss from continuing operations for the fourth quarter. The drug firm had reported a net profit of Rs 4 crore for the January-March quarter of the 2020-21 fiscal. Revenue from operations rose to Rs 810 crore for the fourth quarter compared to Rs 744 crore in the year-ago period, GlaxoSmithKline Pharmaceuticals said in a regulatory filing.
VIP Industries
VIP Industries said it reported a profit of Rs 12 crore in the March quarter from a loss of Rs 4 crore a year ago. Revenue for the quarter stood at Rs 356 crore versus Rs 243 crore last year. EBITDA was at Rs 33 crore against Rs 3 crore.
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