The market had a strong start to the day on May 13, but the end was pitiful as the benchmark indices lost all of their gains in the final hour of trading and closed with modest losses, weighed down by stocks in the banking and financial services sector, the metals sector, and a few technology companies. The Nifty50 failed to hang on to the critical 16,000 mark, down 26 points at 15,782, and the BSE Sensex shed nearly 1,000 points from the day's high to conclude with a loss of 137 points at 52,794. Mishra Ajit, "Global headwinds are currently weighing on the sentiment, and the domestic elements are also not very positive," said the vice president of research at Religare Broking Ltd. The recent selling pressure in the banking pack is aggravating the unfavorable sentiment. Thus, we reaffirm our unfavorable opinion and advise sticking to the "sell on the increase" strategy. Participants should align their holdings to the pressure that most sectors are experiencing and refrain from making contrarian bets.
Before the release of the March quarter earnings on May 16, attention will be focused on Bharat Forge, MCX India, Ami Organics, Century Plyboards, Dodla Dairy, Fino Payments Bank, GlaxoSmithKline Pharmaceuticals, Greenply Industries, GRM Overseas, Max Ventures and Industries, Nava Bharat Ventures, Omkar Speciality Chemicals, RateGain Travel Technologies, Raymond, Shankara Building Products, Ut
Bank of Baroda
In comparison to the same period a year prior, BoB has declared a standalone net profit of Rs 1,778.77 crore for the fourth quarter of 2021–22. On a sequential basis, the lender's net profit, which was Rs 2,197.03 crore in the third quarter of the last fiscal year, decreased by 19%. Net interest income increased by 21.2% from a year ago to Rs 8,612 crore, or Rs 7,107 crore.
For the quarter ending March 2022, the firm announced a 10% sequential increase in its consolidated net profit to Rs 1,506 crore, exceeding analysts' projections of Rs 1,411 crore. The leader in IT services reported consolidated revenue from operations up 5.8% quarter over quarter to Rs 12,116 crore for the reported quarter. Over $1 billion in deals were won by the company between January and March.
Maruti Suzuki India
According to a statement on exchanges, it finished the process of obtaining 800-acre land in the state of Haryana for its intended facility. In the first phase, there will be an investment of more than Rs 11,000 crore. By 2025, the first factory, with a yearly production capacity of 2.5 lakh automobiles, is anticipated to be operational. The location will have room to add new manufacturing plants as capacity grows.
It announced fourth-quarter net earnings that fell short of the typical analyst projection. In comparison to forecasts of Rs 117 crore, the net profit for the quarter was Rs 57.22 crore, a decrease of 24% year over year. In contrast to expectations of Rs 2,144 crore, revenue increased by 21% from a year earlier to Rs 1,940 crore. The company recently authorized $500 billion in securities to raise.
The business announced a fourth-quarter net profit that was higher than average analyst projections. In contrast to expectations of Rs 596 crore, net profit for the quarter increased 16% year over year to Rs 610 crore. In contrast to expectations of Rs 3,183 crore, revenue increased by 9% from a year earlier to Rs 3,190 crore. Average selling prices (ASPs), which increased year over year due to a more varied model mix and price increases over the previous few quarters, were the main driver of growth. However, the YoY volume reduction for Royal Enfield partially countered this.
On forums, they claimed that the Medicines and Healthcare products Regulatory Agency (MHRA) had made no significant or critical observations at its Taloja Plant. The business claimed that the MHRA had finished its inspection.
In comparison to the previous quarter, the net profit for the March quarter decreased 71% to Rs 4.90 crore from Rs 17.10 crore. Revenue for the quarter decreased 6% from one quarter to the next, from Rs 185.80 crore to Rs 175.10 crore. The business also declared that it will grant stockholders a 1:1 bonus share.
For the fourth quarter ending March 2022, Avenue Supermarts, the company that owns and runs the retail brand D-Mart, reported a sequential fall in net profit of 22% to Rs 427 crore. It recorded a 3% increase in net profit year over year. Quarter-over-quarter, revenue decreased by 5% to Rs 8,787 crore from Rs 9,218 crore. Revenue increased 19% year over year.