Tech Mahindra, Tata Motors, Maruti Suzuki, Ambuja Cements among stocks to watch out for on May 16

May 16, 2022

By: Bhakti Makwana

Ambuja Cements

The Adani Group has agreed to buy Indian assets of Ambuja Cements and ACC, owned by Swiss building materials maker Holcim for ₹80,000 crore ($10.5 billion). This is one of the largest ever acquisitions by an Indian group, the two groups said in a joint statement.

Credit: BCCL

Tech Mahindra

IT major Tech Mahindra reported a 39 percent percent growth in consolidated net profit at ₹1,505 crore while revenues rose 24 percent to ₹12,116 crore.

Credit: BCCL

Maruti Suzuki India

The largest automaker has reportedly lined up ₹5,000 crore capital investment for various initiatives including new product launches, for the current fiscal year.

Credit: BCCL

Eicher Motors

The two-wheeler maker announced a consolidated net profit of ₹610 crore for the March quarter, 16 percent higher than last year’s ₹526 crore.

Credit: BCCL

Tata Motors

The carmaker increased its capital expenditure by 30 percent to ₹32,000 crore for FY23 as against ₹23,000 crore in FY22. The automaker will use the money to accelerate its shift toward electric vehicles (EV) across all its segments and its subsidiary Jaguar Land Rover.

Credit: BCCL

Bank of Baroda

The public sector bank reported a net profit of ₹1,779 crore in the Jan-Mar quarter aided by higher interest income and fall in bad loans.

Credit: BCCL

Avenue Supermarts (DMart)

The supermarket chain has posted a 3.14 percent yearly rise in consolidated net profit at ₹427 crore as compared to ₹414 crore last year. Its revenue grew 18 percent to ₹8,786 crore.

Credit: BCCL

Nazara Technologies

The diversified gaming and sports media platform reported 17 percent growth in consolidated profit to ₹4.9 crore for Jan-Mar 2022 as compared to ₹4.2 crore last year.

Credit: BCCL

JK Paper

The paper manufacturing company reported a 25 percent rise in consolidated net profit at ₹170 crore for Jan-Mar quarter as against ₹136 crore last year.

Credit: BCCL

IPO Watch

State owned insurance behemoth LIC will make its debut on exchanges tomorrow, May 17.

Credit: BCCL

Earnings today

Bharat Forge, Raymond, VIP Industries, Fino Payments Bank, Glaxosmithkline Pharmaceuticals, Greenply Industries among companies to announce results today.

Credit: BCCL

'Big Short' investor Michael Burry, Paul Krugman, and Mark Cuban have weighed in on the crypto crash. Here's what 7 market watchers say about the sell-off.