Steel companies' stocks may see an impact of a letter written by industry body Indian Pipe Manufacturers' Association (IPMA) to the government. It is seeking government intervention to regulate the prices of steel, which are trading at an all-time high in India. In a letter to Union Steel Minister Dharmendra Pradhan, the body has also sought a temporary ban on its export, a move which will prevent steel players from diverting their produce to the international markets.
Other than steel stocks, another stocks that may buzz today are:
State Bank of India: The country's largest lender SBI on Friday reported an 80 percent surge in standalone net profit at Rs 6.450.75 crore for the fourth quarter ended March 2021, aided by decline in bad loans. State Bank of India (SBI) had registered a profit of Rs 3,580.81 crore during January-March period of 2019-20, the lender said in a regulatory filing.
South Indian Bank (SIB): The leader reported a net profit of Rs 6.79 crore in the last quarter of the financial year ended March 2021. The private sector lender had posted a net loss of Rs 143.69 crore in the same period of the preceding fiscal year. On a sequential basis also, the bank had reported a net loss of Rs 91.62 crore in the third quarter ended December 2020.
JSW Steel: The steel company on Friday posted a manifold jump in its consolidated net profit to Rs 4,191 crore for the quarter ended March 31, mainly on account of higher income. The company had clocked a net profit of Rs 188 crore in the corresponding quarter of the previous financial year, JSW Steel said in a BSE filing. Its total income in January-March 2021 jumps to Rs 27,095 crore, compared with Rs 18,009 crore in the year-ago period.
In addition, there were reports stating that India's steel producer JSW Steel, is mulling over bidding for Sanjeev Gupta's Liberty Steel in Britain as well as mills elsewhere. But now the company has refuted this claim.
Union Bank of India: Life Insurance Corporation of India's shareholding has risen by over 5 per cent in the state-run Union Bank of India with acquisition of nearly 2 per cent additional stake in the bank. LIC held 3.09 per cent stake in UBI earlier, representing 19,79,23,251 equity shares of the bank.
Sun Pharma: Drug major is recalling 50,868 bottles of diabetes drug Metformin HCl extended-release tablets in the US market, according to the US Food and Drug Administration (USFDA). The US-based arm of the drug firm is recalling the affected lot of 500 mg tablets (in 500 count bottles) due to "presence of foreign substance identified as activated carbon", as per the latest Enforcement Report issued by the US health regulator.
Dhanuka Agritech: Agrochemical firm posted a 24.71 per cent jump in its consolidated net profit at Rs 48.64 crore in the fourth quarter of 2020-21 fiscal on strong revenues. Net profit stood at Rs 39 crore in the same quarter previous financial year, according to a regulatory filing.
Hindalco Industries: The company reported nearly three-fold rise in its consolidated profit-after-tax (PAT) at Rs 1,928 crore for the quarter to March 2021, mainly on account of higher volumes and lower input costs. The company had posted a consolidated PAT of Rs 668 crore in the year-ago period, Hindalco India said in a filing to the BSE.
Container Corporation of India Ltd (Concor): State-owned company reported a 92 per cent dip in consolidated net profit to Rs 24.97 crore for the fourth quarter ended March 2021. The company had clocked a net profit of Rs 316.56 crore in the year-ago period, the multi-modal logistics company said in a regulatory filing.
Reliance Industries: India's natural gas production jumped 22.7 per cent in April after Reliance Industries Ltd and its partner BP Plc ramped up output from their eastern offshore KG-D6 block, government data released on Friday showed.
Dr Lal PathLabs: Diagnostics firm on Friday reported an over 2.5 times rise in its consolidated net profit to Rs 85.1 crore for the quarter ended March 31, 2021, mainly on account of a rise in the non-COVID-19 business.
Shriram Life Insurance Company: Insurer reported a three-fold jump in profit after tax to Rs 106 crore for the fiscal year ended March 2021. The company's profit after tax has grown three-times to Rs 106 crore in FY20-21, backed by technology adoption and an increase in rural penetration as the company continues to serve the community at large, Shriram Life Insurance Company (SLIC) said in a release.
Crompton Greaves Consumer Electrical: The company reported an over two-fold increase in its consolidated net profit at Rs 249.08 crore in the fourth quarter ended March 2021. The company had posted a net profit of Rs 102.10 crore in the January-March quarter a year ago, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a BSE filing.
Godrej Industries: The company reported a consolidated net loss of Rs 92.22 crore for the fourth quarter ended March 2021. The company had posted a net profit of Rs 103.39 crore in the January-March period a year ago, Godrej Industries said in a BSE filing.
Shoppers Stop: Retail chain said its consolidated net loss narrowed to Rs 24.10 crore for the fourth quarter ended March 2021. The company had posted a net loss of Rs 127.22 crore in the January-March quarter a year ago, Shoppers Stop said in a regulatory filing.
MCX: Leading commodity bourse MCX reported a 41.31 per cent drop in its consolidated net profit at Rs 38.44 crore during the fourth quarter of the 2020-21 fiscal on poor income. Net profit stood at Rs 65.50 crore in the same quarter previous fiscal, according to a regulatory filing released late on Saturday.
Natco Pharma:The company said it has received approval from the US health regulator for generic Lenalidomide capsules indicated for treatment of adults with multiple myeloma, mantle cell lymphoma and myelodysplastic syndromes
Punjab & Sind Bank: The lender reported a net profit of Rs 160.79 crore in the last quarter of the fiscal ended March 2021. The state-run lender had posted a net loss of Rs 236.30 crore in the same quarter of the preceding fiscal year. Sequentially, it had posted a staggering net loss of Rs 2,375.53 crore in the December quarter of FY21.
Akzo Nobel: Paints and coatings maker on Saturday reported a 37.3 per cent increase in consolidated net profit to Rs 74.25 crore for the fourth quarter ended March 2021.