Stocks in focus on May 8: Reliance, Symphony, Dabur, Mangalore Chemicals, Voltas, Lupin, and more
Mangalore Chemicals reported a sharp jump in Q4 net profit at ₹16.03 crore versus ₹4.84 crore YoY, even as revenue declined marginally to ₹773.79 crore from ₹786.39 crore. Symphony Ltd posted a solid performance with net profit rising to ₹79 crore from ₹48 crore, and revenue touching ₹488 crore from ₹332 crore YoY. Niva Bupa also recorded a strong quarter with net profit at ₹206 crore (vs ₹157 crore) and revenue at ₹2,079 crore (vs ₹1,759 crore).
Other companies with strong numbers include Vintage Coffee, which saw its net profit rise to ₹15.6 crore vs ₹4.3 crore, and Blue Star, which posted ₹193.6 crore in net profit vs ₹160.5 crore YoY.
In the telecom space, Reliance Jio added 21.74 lakh users in March, up from 17.65 lakh in February, while Bharti Airtel added 12.50 lakh users, slightly down from 15.93 lakh in the previous month.
Lupin launched seizure drug eslicarbazepine acetate in the US post FDA approval, while Om Infra secured a ₹129 crore water infra project from UP Jal Nigam. Jindal Drilling won a 3-year ONGC contract, and Solex Energy bagged a ₹451.41 crore solar module supply order from KPI Green Energy.
Among corporate actions, NLC India formed a joint venture with Assam Power, and Sandur Manganese received a green signal from the High Court to continue operations without Forest Clearance renewals.
In neutral territory, Coal India posted a YoY profit rise to ₹9,592.53 crore but with flat revenue. Voltas, UBL, Kamdhenu, and Sonata Software also posted results largely in line with estimates.
Dabur India disappointed with a decline in net profit to ₹312.7 crore from ₹341.2 crore YoY, despite revenue ticking up slightly. The company faced muted sentiment across recent brokerage reports.
On the corporate governance and dividend front, RBL Bank, ASK Automotive, and Infosys announced leadership updates and collaborations. Dividends were declared or are going ex-date today or tomorrow for Apcotex Industries, IFGL Refractories, UCO Bank, Laurus Lab, Maha Bank, Bajaj Finance, Navkar Urban, OFSS, and Gravita.
NCLT has approved Nazara Technologies' resolution plan for Smaaash Entertainment, and Suven Pharmaceutical has rebranded to Cohance Lifesciences.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should do their own research or consult a financial advisor before making investment decisions.
News desk at BusinessUpturn.com
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