Stocks to watch: HDFC, UltraTech Cement, Godrej Agrovet, Hikal, Vedanta, IIFL Finance

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Here is the list of top stocks that could be in focus on May 7.

Results today: Housing Development Finance Corporation, UltraTech Cement, Dabur India, Cholamandalam Investment, EIH, Great Eastern Shipping, Godrej Agrovet, Kansai Nerolac Paints, Navin Fluorine International, Reliance Home Finance, Reliance Power and Steel Strips Wheels are slated to announce their financial results on Friday.

Cupid: The company has received a purchase order from Uttar Pradesh Medical Supplies Corporation for the supply of Covid 19 Antigen Based Rapid Test Kits. The said order is worth Rs 10.50 crore.

Shri Bajrang Alliance: The firm has received approval from Chhattisgarh Environment Conservation Board, Raipur for ‘Consent to Operate’ oils and oleoresin Essential Oils Plant at Agro Division.

Vedanta: Vedanta’s Sesa Goa iron ore business has started supply of 3 tonnes of liquid medical oxygen (LMO) on a daily basis to hospitals in Goa. The liquid medical oxygen is being generated at Vedanta value-added business at Amona and will be delivered to Goa Medical College (GMC) oxygen storage reservoirs. Vedanta VAB oxygen plant was initially established to produce gases used in the blast furnace operation of pig iron making.

Sadbhav Infrastructure Project (SIPL): The company has entered into the debenture trust deed to raise $700 crore from the investors led by Allianz Global Investors (Allianz GI) and AMP Capital (the Investors) out of which a sum of $550 crore has already been funded by the Investors. The funding has been structured with flexible repayment obligation linked to monetization of the SPVs of SIPL within a tenure of 48 months to 63 months.

IIFL Finance: IIFL Finance has reported results for the fourth quarter ended March 31, 2021. The company has reported an above 9 -fold jump in its net profit at Rs 159.10 crore for the quarter under review as compared to Rs 16.67 crore for the same quarter in the previous year. The total income of the company increased by 25.42% at Rs 981.92 crore for Q4FY21 as compared Rs 782.91 crore for the corresponding quarter the previous year. On a consolidated basis, the company has reported 4 – fold jump in its net profit attributed to the owners at Rs 247.63 crore for the quarter under review as compared to Rs 58.74 crore for the same quarter in the previous year. The total income of the company increased by 22.83% at Rs 1648.62 crore for Q4FY21 as compared Rs 1342.19 crore for the corresponding quarter the previous year.

Zensar Technologies: The company has been selected by Infinity Circle, a UK-based fintech company in the wealth management space. Infinity Circle aims to bring together like-minded entrepreneurs, investors and game-changers. It has the vision to simplify wealth management through innovation, excellence in customer experience, and fully digital-enabled secure transactions.

Hikal: The company has reported results for the fourth quarter and year ended March 31, 2021. The company has reported 2- fold jump in its net profit at Rs 50.92 crore for the quarter under review as compared to Rs 24.47 crore for the same quarter in the previous year. The total income of the company increased by 40.61% at Rs 535.33 crore for Q4FY21 as compared to Rs 380.72 crore for the corresponding quarter previous year. For the year ended March 31, 2021, the company has reported a rise of 57.70% in its net profit at Rs 133.15 crore as compared to Rs 84.43 crore for the previous year. The total income of the company increased by 14.19% at Rs 1725.42 crore for the year under review as compared to Rs 1510.96 crore for the year ended March 31, 2020