Press "Enter" to skip to content

Top Stocks To Watch Out For: PNB, HSIL, Nava Bharat Ventures

Indian benchmark indices are likely to open in red on Tuesday, May 11, as suggested by trends in SGX Nifty indicate a gap-down opening for the index in India with a 205 points loss. Nifty futures were trading 216 points or 1.42 percent lower at around 14,775 levels on the SGX. The key support levels for the Nifty are placed at 14,900.9, followed by 14,859.5. If the index moves up, the key resistance levels to watch out for are 14,975.3 and 15,008.3.

Top stock to look for the day:

Punjab National Bank: The second largest government owned bank said its board has approved raising equity capital from Qualified Institutional Investors to enhance its capital base. The bank has fixed the floor price at Rs 35.51 per equity share for the Qualified Institutional Placement (QIP) purposes.

HFCL: The telecom company reported a higher consolidated profit at Rs 84.67 crore in Q4FY21 against Rs 5.78 crore in the same quarter last fiscal. Its revenue increased to Rs 1,391.4 crore from Rs 663.19 crore YoY.

Chambal Fertilisers and Chemicals: The company reported a higher profit at Rs 447.89 crore in Q4FY21 against Rs 197.55 crore in Q4FY20. However, their revenue fell to Rs 1,640.76 crore from Rs 1,969.09 crore YoY.

Solara Active Pharma Sciences: According to bulk deals data on the NSE, Classic Opportunities Fund acquired 2,57,823 equity shares in the company at Rs 1,552.05 per share, and Aditya Birla Sun Life Mutual Fund bought 1.94 lakh equity shares, while Aditya Birla Sun Life Flexi Cap Fund acquired 3.9 lakh shares in the company at Rs 1,552.05 per share. However, Pronomz Ventures LLP sold 1,99,588 equity shares in the company at Rs 1,552.05 per share and TPG Growth IV SF PTE Ltd offloaded 1,36,495 equity shares at Rs 1,557.26 per share.

Nava Bharat Ventures: The ferro alloys manufacturer has synchronized the 60MW IPP in Odisha with the grid and has commenced power flows for merchant trade.

HSIL: The company reported profit at Rs 33.02 crore in Q4FY21 against Rs 3.38 crore in the same period last year. Its revenue increased to Rs 633.21 crore from Rs 461.03 crore YoY.

Nxtdigital: The company has entered into an agreement with SITI Networks for sharing of its infrastructure facility through Headend-in-the-Sky (HITS) platform.

DCB Bank: The private sector scheduled commercial bank reported higher profit at Rs 77.9 crore in Q4FY21 against Rs 68.8 crore in the same period last year. However, the net interest income fell to Rs 311.2 crore from Rs 323.7 crore YoY.

Paushak:The company reported higher profit at Rs 11.01 crore in Q4FY21 against Rs 6.37 crore in the corresponding period last year. The revenue from income also increased to Rs 38.74 crore from Rs 29.28 crore YoY.

List of companies which are going to declare their quarterly results:

Alembic, Andhra Paper, Firstsource Solutions, BASF India, Godrej Consumer Products, Siemens, Kalpataru Power Transmission, Bliss GVS Pharma, Orient Abrasives, Dishman Carbogen Amcis, Granules India, Neuland Laboratories, Huhtamaki India, Magadh Sugar & Energy, KEC International, Linde India, Mahindra EPC Irrigation, Matrimony.com, Pervasive Commodities, Remedium Lifecare, Wardwizard Innovations & Mobility, Savani Financials, Shreyans Industries, Solid Containers, Stovec Industries, Tainwala Chemicals & Plastics, Transcorp International, and Ultracab (India) will release their quarterly earnings on May 11.

Read all the Latest News, Breaking News and Coronavirus News here

Source: News18