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Tata Motors, L&T, SBI, Bharti Airtel, RIL, Tech Mahindra, HAL, Future Group stocks in focus

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Indian equity markets are likely to open on a positive note Friday amid mixed global cues. Ahead of the final trading session of the week, SGX Nifty was up more than 100 points, suggesting a gap-up start for benchmark indices BSE Sensex and NSE Nifty 50.

Indian equity markets are likely to open on a positive note Friday amid mixed global cues. Ahead of the final trading session of the week, SGX Nifty was up more than 100 points, suggesting a gap-up start for benchmark indices BSE Sensex and NSE Nifty 50. Global cues were mixed as Asian Stock markets gained while on Wall Street, Dow Jones and S&P 500 had ended with losses. “Overall weakness is expected to continue, markets are now in oversold territory after witnessing a sharp decline in the last few trading sessions. India VIX spiked by 6% to 25 zones – 7 weeks high, indicating that uncertainty may continue in the market for some more time,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Stocks in focus on 13 May, Friday

Tata Motors: Tata Motors reported a consolidated net loss of Rs 1,032 crore for the quarter ended March as against a consolidated net loss of Rs 7,605 crore in the year-ago quarter. The company reported an 11.5% on-year decline in consolidated revenue from operations to Rs 78,439 crore for the reported quarter. The weakness in the performance of the company was largely down to subsidiary Jaguar Land Rover, whose revenues in the reported quarter nosedived 27.1% on-year to 4.8 billion pound sterling. The weakness in the revenues of JLR was down to the company’s inability to secure semi-conductors to ramp up production while disruption in the European and China business also weighed.

Larsen & Toubro (L&T): India’s largest infrastructure company Larsen & Toubro (L&T) on May 12 reported a 10% on-year rise in consolidated net profit at Rs 3,621 crore, which was below analysts’ expectations. The infrastructure giant’s consolidated revenue from operations rose 10% on-year to Rs 52,851 crore for the reported quarter, missing expectations. The company said it has bagged orders worth Rs 73,941 crore during the quarter ended March 2022, a growth of 46% over the corresponding quarter of last fiscal, with international orders contributing 44% of the total order inflow. The company secured nearly Rs 1.93 lakh crore worth orders at the group level during the year, which grew by 10% over the previous year.

Future Group: Future Group promoter Kishore Biyani’s daughter Ashni Biyani has resigned as managing director of Future Consumer, citing personal reasons, while she will continue to serve on the board as a non-executive director. Biyani has resigned due to personal constraints and challenges, due to which she is unable to dedicate necessary time and attention to the affairs of the company, Future Consumer said in a regulatory update. Ashni Biyani’s resignation follows that of Rakesh Biyani, who resigned as managing director of another group company Future Retail a week ago. Along with Rakesh Biyani, other officials, including the company secretary, had also tendered their resignations.

Bharti Airtel: Bharti Airtel added the maximum number of subscribers in March at 2.25 million, followed by Reliance Jio, which added 1.26 million subscribers. Despite losing subscribers for past few months, Jio has been increasing its active user base by weeding out inactive subscribers from its network. Vodafone Idea continues to lose subscribers with a decline of 2.81 million in March. According to the data shared by Telecom Regulatory Authority of India (Trai), the total wireless subscribers in March increased to 1,142.09 million from 1,141.53 million last month. In terms of percentage of active subscribers, Bharti Airtel continues to lead with 98.74% followed by Reliance Jio with 93.80%. Vodafone Idea’s percentage of active subscribers stood at 86.70%.

Reliance Industries (RIL): Market regulator SEBI and Reliance Industries (RIL) on Thursday strongly countered each other in the Supreme Court as they sought remedy in a case concerning alleged irregularities by the latter in connection with acquisition of its own shares between 1994 and 2000. RIL wants SEBI to share certain documents that it thinks will exonerate it and its 108 promoters in the case. The company believes that these documents would negate the allegations of wrongdoing in the acquisition of shares and this would have a vital bearing on the criminal case being filed by SEBI.

Q4 Results today: State Bank of India (SBI), Eicher Motors, Tech Mahindra, Bank of Baroda, Bandhan Bank, Union Bank of India, Alkem Laboratories, Emami, Escorts, Hindustan Aeronautics, JK Paper, Linde India, Nazara Technologies, Amber Enterprises India, APL Apollo Tubes, Balkrishna Industries, Carborundum Universal, CESC, Coromandel Engineering Company, DB Corp, Elgi Equipments, Gujarat Fluorochemicals, REC, Reliance Infrastructure, Reliance Power, Sharda Cropchem, Sigachi Industries, Steel Strips Wheels, Triveni Turbine, UCO Bank, and Vakrangee will release quarterly earnings on May 13.

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