Stocks in news: Hero MotoCorp, IDBI Bank, Adani Green Energy, Tata Steel and more

05 May 2021

Benchmark indices were set to open higher today as Nifty futures on the Singapore Exchange traded 71.5 points, or 0.49 per cent, higher at 14,764.50. On Wednesday, benchmark indices snapped three sessions of losing streak, led by gains in banking, pharma and IT stocks. Sensex jumped 424 points to close at 48,677 and Nifty surged 121 points to 14,617. Here's a look at stocks which are likely to remain in news today.

Tata Steel: Tata Steel reported a standalone net profit of Rs 6,593.54 crore in Q4 FY21 as opposed to a loss of Rs 436.83 crore in Q4 FY20. The company recorded its highest-ever quarterly crude steel production at 4.75 million tonnes during the quarter under review, while steel deliveries grew to 4.67 million tonnes.

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.

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.

IDBI Bank: The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved the strategic sale of IDBI Bank, an official statement said on Wednesday. Government of India and LIC together own 94.72 per cent of equity of IDBI Bank (GoI 45.48%, LIC 49.24%). LIC is currently the promoter of IDBI Bank with Management Control and GoI is the co-promoter.

Hero MotoCorp: The two-wheeler manufacturer will report its March quarter earnings on Thursday. The company reported a 23% year-on-year increase in net profit to  Rs 1,084 crore for the quarter ending 31 December. Net sales improved 40% to  Rs 9776 crore.

Maruti Suzuki: The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday 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, Maruti Suzuki India (MSI) said in a regulatory filing.

Blue Dart: The logistics services provider reported a consolidated net profit of Rs 90 crore in Q4 against net loss of Rs 30.57 crore in the January-March period a year ago.