Stocks to Watch: Reliance Industries, Bharti Airtel, Panacea Biotec, Muthoot Finance among others

FPJ Web DeskUpdated: Thursday, June 03, 2021, 12:24 AM IST
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Stocks to Watch: Reliance Industries, Bharti Airtel, Panacea Biotec, Muthoot Finance among others |

When the market opens today, there are few stocks that may be buzzing. Below is the list of stocks:

Reliance Industries: After record fundraising and debt prepayments, Reliance Industries Ltd now has a strong balance-sheet with high liquidity that will support growth plans for its three hyper-growth engines - telecom arm Jio, retail and oil-to-chemicals business, firm's Chairman and Managing Director Mukesh Ambani said.

Tata Consumer Products Ltd (TCPL): The company has completed the integration of its India food and beverages business and is now well-positioned for accelerated growth by putting in place the right building blocks for the future, its Chairman N Chandrasekaran said.

MTAR Technologies: The company, which recently went in for an Initial Public Offering (IPO), on Wednesday said its profit after tax was up by 47 per cent to Rs 46.1 crore in FY21 against Rs 31.3 crore in the year ago period.

Bharti Airtel: Airtel Africa on Wednesday announced the sale of the tower portfolio belonging to Airtel Tanzania for about USD 175 million (Rs 1,279.6 crore). The deal marks the latest strategic divestment of the group's tower portfolio as it focuses on an asset-light business model and on its core subscriber-facing operations, the company said.

Panacea Biotec: Drug firm on Wednesday reported a consolidated net loss of Rs 54.14 crore for the quarter ended March 31, 2021 The company had posted a net loss of Rs 69.70 crore for the corresponding period of the previous financial year, Panacea Biotec said in a BSE filing.


Muthoot Finance . The non-banking finance company on Wednesday reported a 22.5 per cent jump in consolidated net profit to Rs 1,023.76 crore for the fourth quarter ended March 2021 due to higher demand for gold loans. The company had posted a net profit of Rs 835.75 crore during the corresponding January-March period of 2019-20. Total income rose to Rs 3,118.97 crore in the quarter under review from Rs 2,633.58 crore in the year-ago period, Muthoot Finance said in a regulatory filing.

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