Stocks Under Focus on May 11: Cipla, SBI, Adani Ports, PNB, Vodafone Idea & More

  • Stock Market News
Stocks Under Focus on May 11: Cipla, SBI, Adani Ports, PNB, Vodafone Idea & More

By Malvika Gurung -- State Bank of India (NS: BOI ): The public lender’s board has approved raising up to $2 billion or Rs 15,430 crore in the ongoing fiscal from overseas markets to fund the growth of foreign business.

Cipla (NS: CIPL ): The pharmaceutical company’s consolidated profit fell 10% YoY to Rs 370.7 crore, while its revenue rose 14% YoY to Rs 5,260.33 crore in the March quarter.

Vodafone Idea (NS: VODA ): The beleaguered telecom company consolidated loss in Q4 FY22 contracted 7% YoY to Rs 6,563.1 crore, while revenue rose 6.6% YoY and 5.4% sequentially to Rs 10,239.5.

ICICI Bank (NS: ICBK ): On Tuesday, Merrill Lynch India Equities Fund Mauritius sold 4.8 lakh shares of the private lender, amounting to Rs 34 crore, and BlackRock (NYSE: BLK ) Global Funds India Fund bought the same amount of shares at the same price.

Wipro (NS: WIPR ): The IT company has extended its strategic agreement with the corporate and investment bank division of Crédit Agricole Group, Crédit Agricole CIB to propel its growth.

Kansai Nerolac Paints (NS: KANE ): The paint company's consolidated net profit plunged 84.5% YoY to Rs 19.17 crore, and revenue from operations rose 5.27% to Rs 1,536.6 crore in Q4 FY22.

Gujarat Gas (NS: GGAS ): The company’s net profit rose 28% YoY to Rs 444.4 crore in Q4, and revenue surged 36.5% YoY to Rs 4,773.4 crore.

Torrent Power (NS: TOPO ): The power company posted a net loss of Rs 487.37 crore in Q4, compared to a net profit of Rs 459 crore in the year-ago period, while revenue from operations rose 21% YoY to Rs 3,744 crore.

Companies including Adani Ports (NS: APSE ), Punjab National Bank (NS: PNBK ), Indian Bank (NS: INBA ), and Cholamandalam (NS: CHLA ) Financial Holdings, among others, will report their March quarter earnings results on Wednesday.

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