On May 16, the market saw its first gain in the previous seven sessions, but volatility remained high, suggesting that bulls will continue to experience pain and that even more, erratic swings are still to come. After losing more than 5% in the previous six sessions, the BSE Sensex increased 180 points to 52,974, while the Nifty50 increased by 60 points to 15,842.
Before the March quarter earnings are released on Ma, attention will be focused on 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,
Life Insurance Corporation (LIC)
Before the May 17 IPO of the Life Insurance Corporation of India, shares of PSU stocks will be closely watched. The premium on the black market is being sold at a discount of Rs. 30 per share. According to commentators, amid the volatility in the world's equities markets, LIC is likely to list at flat to negative prices.
InterGlobe Aviation's stock will be closely watched after the company claimed to have received DGCA correspondence regarding the treatment of a unique youngster at Ranchi Airport. A special child was handled inappropriately by Indigo at Ranchi Airport, according to the DGCA's initial findings. Indigo will receive a show-cause notice from DGCA to respond. The company promised to address the situation as soon as possible.
Aditya Birla Capital
When allegations were made against Aditya Birla Sun Life and staff, Aditya Birla Capital announced on exchanges that the company had received a whistleblower report. The company claimed that no charges made by the complaint were supported by an impartial committee that looked into it. The business added that there were no accusations made against CEO Ajay Srinivasan in the lawsuit. Srinivasan resigned as CEO of Aditya Birla Capital after expressing interest in a new position within the organization. According to the company, neither Aditya Birla Capital nor Aditya Birla Sun Life AMC employees has left because of the claims.
IRB Infrastructure said on Thursday that its gross toll revenues for April were Rs 327 crore compared to Rs 306.66 crore in March. In April of last year, the total toll revenue was Rs 196.64 crore. According to the company, on April 21 toll collection was halted due to farmer unrest.
1,150 crore rupees worth of orders were won by KEC International across its many businesses. The company asserted that the variety of orders in the civil industry further strengthened the diversification of its portfolio and reaffirmed the company's confidence in the future robust growth of this business.
Another hydroelectric project, Arun-4, at Rs 4,900 crore, would be built in Nepal by state-owned SJVN Ltd. In Lumbini, Nepal, Prime Minister Narendra Modi and Prime Minister of Nepal Sher Bahadur Deuba signed a Memorandum of Understanding (MoU) for the building of the 490 MW Arun-4 hydroelectric project, the company announced.
GlaxoSmithKline Pharmaceuticals disclosed a consolidated net loss from continuing operations for the fourth quarter of Rs 55 crore on Monday. For the January-March quarter of the 2020–21 fiscal year, the pharmaceutical company declared a net profit of Rs 4 crore. GlaxoSmithKline Pharmaceuticals reported in a regulatory filing that operating revenue increased to Rs 810 crore for the fourth quarter from Rs 744 crore in the same quarter last year.
Following a loss of Rs 4 crore in the same quarter last year, VIP Industries declared a profit of Rs 12 crore in the March quarter. Compared to the same period last year, revenue for the quarter totaled Rs 356 crore. EBITDA was 33 crore rupees as opposed to 3 crore rupees.