Stocks to watch on May 17: The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 18,293, down 36.5 points or 0.20% from the previous close.

Q4FY23 earnings on May 17

Jindal Stainless, Jindal Saw, Quess Corp, JK Tyre & Industries, Thermax, Deepak Fertilisers & Petrochemicals Corporation, Endurance Technologies, Teamlease Services, Sterlite Technologies, Jubilant Foodworks, SKF India, Honeywell Automation India, Sheela Foam, Glaxosmithkline Pharmaceuticals, Timken India, Devyani International, Zydus Wellness, Railtel Corporation Of India, Restaurant Brands Asia, Eris Lifesciences, Sanghi Industries, MTAR Technologies, Anup Engineering, Electrosteel Castings, Hester Biosciences, JSW Ispat Special Products, Jyoti Resins & Adhesives, MM Forgings, Paradeep Phosphates, Permanent Magnets, REC, Sandur Manganese & Iron Ores, Shivalik Bimetal Controls, Thirumalai Chemicals, Vaibhav Global, Whirlpool Of India.

Bharti Airtel: The telecom services provider, after market hours on Tuesday, reported a 14.3 per cent rise in its revenue for the quarter that ended on March 31, to Rs 36,009 crore from Rs 31,500 crore in the same quarter in 2021-22. Its India business resported a 12.2 per cent rise in the revenue to Rs 25,250 crore in the quarter. Moreover, Bharti Airtel reported a 49.2 per cent jump in its consolidated net profit to Rs 3,005.6 crore.

LIC Housing Finance: The housing finance company reported a year-on-year jump of 5.5 per cent in its consolidated net profit in Q4FY23, which came in at Rs 1,180.3 crore. Its net interest income (NII) grew 22.1 per cent and was Rs 1,990.3 crore for the March quarter. The Board has recommended dividend of Rs 8.5 per share.

Indian Oil Corporation: State-run oil marketing company posted a 54.8 per cent year-on-year jump in its net profit at Rs 10,289.8 crore for the March quarter on the back of a rise in gross refining margins.

V-Mart Retail: The retail company reported total income of Rs 601.44 crore for the March quarter, up 30 per cent YoY. It, however, posted net loss of Rs 36.95 crore for the period as against net loss of Rs 2.61 crore reported last year.

Triveni Turbine: The company’s net profit surged 68.2 per cent on year to Rs 55.51 crore for the period ended March 31, 2023 as against net profit of Rs 33.01 crore posted last year. Its total income also swell 54 per cent YoY to Rs 382.24 crore during the period.

Jindal Steel and Power: JSPL’s consolidated net profit plunged 69.5 per cent YoY to Rs 465.66 crore during the January-March quarter compared to Rs 1,527.04 crore recorded during the year-ago quarter.

Oberoi Realty: Real-estate developer Oberoi Realty, on Tuesday, posted a consolidated net profit of Rs 480 crore for the March quarter. This is 106 per cent rise from Rs 232 crore a year ago, the company statement said. The company’s consolidated revenue from operation rose by 16.76 per cent to Rs 961 crore compared to Rs 823 crore in the year-ago period.

Paras Defence and Space Technologies: It posted net profit of Rs 10.76 crores for the quarter ended March, 2023, up 4.5 per cent against net profit of Rs 10.30 crore seen last year. The company’s total income rose 5 per cent YoY to Rs 65.85 crore.

Vodafone Idea: Vodafone Group Plc has said it values its investment in Vodafone Idea Ltd. at nil, indicating that the UK-based telecom operator has no interest in salvaging its joint venture in India. “The group is recording no further share of losses in respect of VIL,” Vodafone Group Plc said in the notes to its FY23 preliminary results released on Tuesday.

Adani Group: The Supreme Court will, on Wednesday, hear a batch of Public Interest Litigations (PILs) seeking an investigation into the Adani Group-Hindenburg report issue and the Sebi’s plea for an extension of time to submit the report, ANI has reported. The apex court, on Monday, adjourned the hearing on the Sebi plea seeking a six-month extension to conclude the investigation in the Hindenburg Research’s report.

Paytm: One 97 Communications Ltd, the parent firm of Paytm, on Tuesday, appointed Bhavesh Gupta, senior vice president as President and Chief Operating Officer (COO) of the fintech major.

Hero MotoCorp, Bajaj Auto: According to reports, the Department of Heavy Industry seeks to bring down the subsidy offered on electric two-wheelers, under FAME II scheme, from the existing Rs 15,000 per KW to Rs 10,000 per KW. Besides, the maximum cap on subsidy is also expected to be brought down to 15 per cent of the MRP from the current 40 per cent. The amount saved from the capping of the subsidy, another report said, could be used to provide additional allocation worth Rs 1,500 crore towards FAME II scheme for the current fiscal year.

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