Stocks in Focus on May 17: LIC, Raymond, KEC, Bharti Airtel, Indian Oil & More

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Stocks in Focus on May 17: LIC, Raymond, KEC, Bharti Airtel, Indian Oil & More

By Malvika Gurung -- Life Insurance Corporation (NS: LIFI ): The highly-awaited insurance behemoth will finally make its debut on the Indian exchanges on Tuesday.

Ambuja Cements (NS: ABUJ ), ACC Ltd (NS: ACC ): The Adani (NS: APSE ) Group has announced to make an open offer for acquiring a 26% stake each in the two cement manufacturers from public shareholders.

KEC International (NS: KECL ): The construction engineering company has secured new orders worth Rs 1,150 crore across various business lines.

Aditya Birla Capital (NS: ADTB ): The financial services company’s MD & CEO Ajay Srinivasan has decided to step down and will take on a new role within the group, stated the company. It received a complaint wherein certain allegations were made about Aditya Birla Sun Life AMC and its employees.

SJVN (NS: SJVN ): The state-owned power generation company signed an MoU for the development of the 490 MW Arun-4 hydro electric project in Nepal, with the expected cost of the project at Rs 4,900 crore.

Raymond (NS: RYMD ): The company’s net profit jumped 349.15% YoY to Rs 265 crore in the March quarter, while revenue gained 44% YoY to Rs 1958 crore, and EBITDA surged 84% YoY to Rs 285 crore.

Elgi Equipments (NS: ELGE ): The company’s consolidated PAT surged 68.4% YoY to Rs 73.1 crore in Q4 FY22, and in the financial year it surged 74.5% YoY to Rs 178.4 crore. 

Companies including Bharti Airtel (NS: BRTI ), Bajaj Electricals (NS: BJEL ), Indian Oil Corporation (NS: IOC ), DLF (NS: DLF ), PI Industries (NS: PIIL ), Zydus Wellness (NS: ZYDS ), and Dr Lal PathLabs (NS: DLPA ), among others, will release their March ending earnings report on Tuesday.

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