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Monday, June 21, 2021

Stocks in news: Hero MotoCorp, Tata Steel, Adani Power, Indian Bank, Blue Dart and Maruti Suzuki

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Nifty futures on the Singapore Exchange traded 71.5 points, or 0.49 per cent, higher at 14,764.50 in signs that Dalal Street was headed for a positive start on Thursday. Here are a dozen stocks which may buzz the most in today’s trade:

Tata Consumer, Hero MotoCorp

: Adani Power, Hero MotoCorp, Tata Consumer, Coforge, Adani Transmission, IIFL Finance, Sundaram Fasteners, Procter & Gamble Health, CreditAccess Grameen, Bombay Burmah Trading Company, Hikal, Blue Star, Raymond and

Praj Industries

are among companies that will announce their March quarter results today.

Tata Steel: The steelmaker posted a consolidated net profit of Rs 7,161.91 crore for the quarter ended March 2021, mainly on account of higher income. The company had reported a net loss of Rs 1,615.35 crore in the year ago quarter. During January-March 2021, the company’s total income jumped to Rs 50,249.59 crore from Rs 37,322.68 crore earlier.

JM Financial: The Investment banking firm reported a 35.35 per cent growth in net income for the three months to March 2021 at Rs 176.71 crore. It had booked a net income of Rs 130.56 crore in the same period of the previous fiscal after the bloodbath in the markets in March 2020 with the onset of the pandemic.

Macrotech Developers: Lodha Group is aiming to turn a zero-debt company over the next three years with its focus on mid-income, affordable housing and industrial and logistics business, managing director Abhishek Lodha said. Rising demand for housing in the backdrop of the second wave of Covid-19 is also expected to drive sales of established grade A developers with sound financials, he s ..

Indian Bank: State-owned Indian Bank said it has declared the NPA account of Saravana Stores with an outstanding balance of Rs 231 crore as fraud. “We have to inform that non-performing account (NPA) Saravana Stores (Gold Palace) has been declared as fraud and reported to RBI as per regulatory requirement,” Indian Bank said in a regulatory filing.

Tata Motors: The Competition Commission has ordered a detailed probe against

Tata Motors

for alleged abuse of dominant position with respect to dealership agreements. The order has come on two complaints filed against Tata Motors, Tata Capital Financial Services Ltd and Tata Motors Finance Ltd (opposite parties).

Adani Green Energy: The renewable energy firm of Adani group posted a nearly 86 per cent rise in consolidated net profit to Rs 104 crore for the quarter ended March 2021, mainly due to higher revenues. The consolidated net profit of the company stood at Rs 56 crore in the corresponding period of the previous fiscal.

Blue Dart: Logistics services provider reported a consolidated net profit of Rs 90 crore for the fourth quarter ended March 2021. The company had posted a net loss of RsA 30.57A crore in the January-March period a year ago.

Maruti Suzuki: The country’s largest carmaker

Maruti Suzuki

India (MSI) said its total production in April 2021 stood at 1,59,955 units, down 7 per cent from March this year. The company had produced a total of 1,72,433 units in the year-ago period.

Apollo Hospitals: Joint MD of the hospital chain Sangita Reddy called for setting up emergency oxygen storage points within 30 minutes distance of all hospitals, saying supply of the gas continues to be a challenge amid the devastating second wave of the pandemic.

Everest Kanto Cylinders: The government on Wednesday further eased the process of registration and approval for importing oxygen cylinders and cryogenic tankers amid shortage of the life-saving gas due to a spike in COVID-19 cases in the country.

IDBI Bank: All India Bank Employees’ Association (AIBEA) has opposed the government’s move to privatise

IDBI Bank

, terming the decision as a “retrograde” move. The association said the government should control a minimum of 51 per cent share capital of the bank.

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