Stocks In Focus Today: BPCL, Mankind Pharma, JSW Energy, Sula Vineyards, Aditya Birla Capital

Bharat Petroleum Corporation, Mankind Pharma, Karnataka Bank and Zee Entertainment Enterprises will remain on investors’ radar on May 20 after reporting their March quarter earnings, while stocks such as JSW Energy, Sula Vineyards and Aditya Birla Capital may also see action following key corporate announcements.

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Among the companies slated to declare quarterly results later in the day are Grasim Industries, Apollo Hospitals Enterprise, Lenskart Solutions, Ola Electric Mobility, Bosch, Dr Agarwals Eye Hospital, Eris Lifesciences, Honeywell Automation India, IRB Infrastructure Developers, JK Lakshmi Cement, Jubilant FoodWorks, Metro Brands and Whirlpool of India.

Q4 Earnings Announcements

Novelis Inc, the subsidiary of Hindalco Industries, reported a consolidated loss of $84 million for the fourth quarter against a profit of $294 million in the corresponding period last year. The company said profitability was impacted by plant fire incidents at its Oswego facility in the U.S. during September and November. Net sales increased 4.4% year-on-year to $4,787 million, while adjusted EBITDA declined 3% to $459 million.

Bharat Petroleum Corporation posted a 0.7% decline in standalone net profit at ₹3,191.5 crore for the March quarter compared to ₹3,214 crore a year ago. Revenue from operations rose 6.7% to ₹1,18,649.4 crore. The company also reported an exceptional loss of ₹4,349.1 crore.

Zee Entertainment Enterprises reported a consolidated loss of ₹102.4 crore for the quarter against a profit of ₹188.4 crore in the year-ago period. Revenue fell 7.3% to ₹2,024.8 crore.

Mankind Pharma registered a 31.7% increase in consolidated net profit at ₹559.4 crore, while revenue climbed 11.8% to ₹3,442.9 crore.

Karnataka Bank reported a standalone net profit of ₹408.2 crore, up 61.7% year-on-year. Gross non-performing assets stood at 2.78% against 3.32% in the previous quarter, while net NPA improved to 0.98% from 1.31%.

Stocks To Watch

JSW Energy executed definitive agreements to acquire additional equity shares in Toshiba JSW Power Systems from Toshiba Corporation, Japan. Following the transaction, its stake in the company will increase to 20.7% on a non-diluted basis. The acquisition value stands at ₹150 crore.

Sun Pharma Advanced Research Company said its licensing partner Ocuvex Therapeutics received a Complete Response Letter from the U.S. FDA for the PDP-716 New Drug Application due to inspection-related observations at the manufacturing facility.

Aditya Birla Capital received a certificate of registration from the Reserve Bank of India to begin factoring business operations.

Sula Vineyards announced the resignation of Chief Financial Officer Abhishek Kapoor effective July 14. The company appointed Rinku More as CFO Designate from July 15.

Bulk Deals And Corporate Actions

Singularity Growth Opportunities Fund II exited part of its holding in Jaro Education by selling 2.8 lakh shares worth ₹14.08 crore. Promoter Sanjay Namdeo Salunkhe purchased 2.09 lakh shares in the company.

Nexus Global Opportunities Fund acquired an additional 68,727 shares in Choksi Laboratories, while CSG Financial & Management Services exited its holding.

Great Eastern Shipping Company will trade ex-dividend today. IRB InvIT Fund and POWERGRID Infrastructure Investment Trust will trade ex-date for income distribution. Kaynes Technology India and SAIL remain under the F&O ban list for the session.