Stocks in Focus on Apr 28: ONGC, HUL, Escorts, Axis Bank, Biocon & More

  • Stock Market News
Stocks in Focus on Apr 28: ONGC, HUL, Escorts, Axis Bank, Biocon & More
Credit: © Reuters.

By Malvika Gurung -- ONGC (NS: ONGC ): The state-run oil and gas major has signed an MoU with the Norwegian energy major Equinor ASA for the exploration and production of oil and gas collaboratively while working on clean energy projects.

Reliance Industries (NS: RELI ): The conglomerate and the broadcast company Viacom18 have entered into a strategic partnership with the investment venture Bodhi Tree Systems. The latter will invest Rs 13,500 crore in Viacom18 to form among the largest TV and digital streaming companies in the country.

Tata Consumer Products (NS: TACN ): The public insurer LIC increased its holding in the FMCG company by buying 1.36 lakh equity shares of the company, and raising its stake from 4.99% to 5.008% now.

Escorts (NS: ESCO ): The rating agency CRISIL (NS: CRSL ) has upgraded the tractor manufacturer’s long-term rating from AA to AA+ while revising the outlook to ‘Stable’.

Q4 Earnings Results

Hindustan Unilever Ltd. (NS: HLL ): The FMCG major’s standalone net profit surged 8.58% YoY to Rs 2,327 crore, beating analysts’ estimates, while revenue from sales rose 10.4% YoY to Rs 13,190 crore and total revenue surged 11% YoY to Rs 13,462 crore in the quarter.

Bajaj Auto (NS: BAJA ): The company’s net profit surged 10.3% YoY to Rs 1,468.95 crore in the March quarter, while revenues declined 7.2% YoY to Rs 7,975 crore, and EBITDA fell 10.4% YoY to Rs 1,365.6 crore.

Indian Hotels (NS: IHTL ): The Tata Group firm reported a net profit of Rs 74.19 crore, compared to a loss of Rs 91.3 crore in the year-ago period, while revenue surged almost 42% YoY to Rs 872.1 crore.

Indian Energy Exchange (NS: IIAN ): The bourse’s consolidated net profit rose 45% YoY at Rs 88.4 crore, led by higher revenues.

Companies including Axis Bank (NS: AXBK ), Bajaj Finserv (NS: BJFS ), Ambuja Cements (NS: ABUJ ), SBI Life Insurance Company (NS: SBIL ), Vedanta (NS: VDAN ), Biocon (NS: BION ) and Motilal Oswal (NS: MOFS ), among others, will release their earnings results for the March ending quarter on Thursday.

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