InterGlobe Aviation, Maruti, ONGC, Bajaj Finance and other stocks in focus on June 7
Jun 7, 2021
Credit: BCCL
InterGlobe Aviation
India’s largest airline saw its losses widen to ₹1,147 crore against ₹871 crore a year ago. This is the fifth straight quarterly loss.
Credit: BCCL
Rising oil prices could be a concern
With rising oil prices and a debilitating second wave, the April-June quarter may also be painful for the airline.
Credit: BCCL
Adani Power
Shares of the company are up by over 19 percent, two days after the company announced that consumers in Mumbai can switch to green energy.
Credit: Adani Power
Stocks that will benefit from unlocking
Avenue Supermarts, PVR, United Spirits, Indian Hotels Company, Maruti Suzuki among others could gain from COVID-19 unlocking in Mumbai and Delhi.
Credit: BCCL
Oil spikes, so will these stocks
State-owned oil marketing companies Indian Oil, Hindustan Petroleum, Bharat Petroleum are likely to benefit from a surge in crude oil prices.
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Bajaj Finance
The non-banking lender said its non-performing assets i.e. unpaid loans, could rise by October, and credit cost may rise by ₹1,300 crore.
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Maruti Suzuki India
Its total production in May 2021 surged to 40,924 vehicles, from 3,714 vehicles a year ago when production was halted by a strict nationwide lockdown.
Credit: BCCL
Sporadic lockdowns in May also had an impact
The May 2021 output of 40,924 vehicles would be comparable to the 1,59,955 units the country’s largest car maker produced in April 2021.
Credit: BCCL
Earnings today
MRF, Mrs Bectors Food Specialities, Central Bank of India, Dynamatic Technologies, Fairchem Organics, The New India Assurance Company, Jubilant Ingrevia, SMC Global Securities, Union Bank of India.
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Punjab National Bank
The troubled bank reported a net profit of ₹586 crore in the March 2021 quarter, against a loss of ₹697 crore a year ago. Net interest income rose by 1.9 percent to ₹6,938 crore, year-on-year.
Credit: BCCL
Jubilant Pharmova
It reported a fall in net profit in the March 2021 quarter to ₹214 crore from ₹260 crore a year ago. Revenue increased marginally to ₹1,552 crore from ₹1,497 crore, year-on-year.
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Reliance Infrastructure
It has approved fundraising of ₹551 crore via preferential allotment of shares to the promoters and Varde Investment Partners.
Credit: Reliance Infrastructure
Tata Steel
Its subsidiary Tata Steel Mining has been declared as the successful resolution applicant for acquiring Rohit Ferro-Tech.
Credit: Tata Steel
Zee Entertainment
Integrated Core Strategies Asia sold 6.1 million shares of the company at ₹218.38 per share.
Credit: Zee Entertainment