Stocks to watch: Reliance Infra, MRF, SMC Global Securities, Punjab National Bank, DHFL

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

Results today: Mrs Bectors Food Specialities, Central Bank of India, MRF, Mold-Tek Technologies, Union Bank of India and SMC Global Securities are slated to announce their financial results on Monday.

Reliance Infra: Reliance Infrastructure on Sunday said its board has approved raising up to Rs 550.56 crore through the issuance of shares on a preferential basis. The funds raised would be utilised for long-term resources for general corporate purposes, to fund future growth and also to reduce debt, the company said in a statement.

Punjab National Bank: State-owned Punjab National Bank (PNB) on Friday posted a standalone profit of Rs 586.33 crore for the fourth quarter ended March, aided by an increase in interest income. The second-largest public sector lender had reported a loss of Rs 697.20 crore in the January-March period of 2019-20.

DHFL: Dewan Housing Finance Corporation (DHFL) on Sunday reported a consolidated net profit of Rs 96.75 crore for the last quarter of fiscal ended in March 2021. The company, which is under the corporate insolvency process, had posted a net loss of Rs 7,507.01 crore in the January-March quarter of the year-ago fiscal. The company had reported a loss of Rs 13,095.38 crore in the December quarter of 2020-21.

Quess Corp: Business services provider Quess Corp has reported a reduction in a loss at Rs 58 crore for March 2021 quarter. The company’s loss stood at Rs 630 crore in the same quarter a year ago, Quess Corp said in a statement.

Jubilant Pharmova: Drug firm Jubilant Pharmova on Friday reported a consolidated net profit of Rs 214 crore for the fourth quarter ended March 31, 2021. It had posted a net profit of Rs 260 crore in the January-March quarter of 2019-20.

Axis Bank: With reference to the news item dated 4th June 2021 captioned ‘Axis Bank to buy Spandana Sphoorty,’ Axis Bank clarified that the said news item is speculative and the bank does not comment on market speculation. The bank has not taken any such decision in this regard.

MOIL: MOIL reported net profit of Rs 116 crore in Q4 FY21, steeply higher compared with 13.47 crore in Q4 FY20. Net sales grew 81% to Rs 450.14 crore in Q4 FY21 as against Rs 248.66 crore in Q4 FY20. Profit before tax stood at Rs 159.37 crore in Q4 FY21, steeply higher than Rs 21.62 crore in Q4 FY20.

Jubilant Ingrevia: Credit ratings agency India Ratings and Research (Ind-Ra) assigned Jubilant Ingrevia (JVL) a long-term issuer rating of ‘IND AA’ with a stable outlook. The ratings agency assigned a credit rating of ‘IND AA/Stable/IND A1+’ on the company’s fund-based limits of Rs 475 crore. It has assigned ‘IND A1+’ rating on the non-fund-based limits of the company worth Rs 772.5 crore.

Force Motors: The company announced that its total production stood at 1,306 units in May 2021, steeply higher than 26 units in May 2020. Total domestic sales surged 410.15% to 1,306 units in May 2021 as against 256 units in May 2020. Total exports were at 154 units in May 2021. There were no exports during the same period last year due to Covid-19 pandemic.

RBL Bank: RBL Bank said that the Reserve Bank of India (RBI) has approved the re-appointment of Vishwavir Ahuja as the Managing Director & CEO of the bank, for further period of one year, with effect from June 30, 2021.

Varroc Engineering: On a consolidated basis, Varroc Engineering reported net loss of Rs 144.32 crore in Q4 FY21, higher than net loss of Rs 137.10 crore in Q4 FY20. Net sales jumped 31.9% to Rs 3,619.26 crore in Q4 FY21 from Rs 2,744.75 crore in Q4 FY20. Pre-tax loss stood at Rs 117.76 crore in Q4 FY21 as against a pre-tax loss of Rs 136.72 crore in Q4 FY20.

MIDHANI: Mishra Dhatu Nigam (MIDHANI) on Friday announced that it has raised Rs 50 crore by allotting commercial papers to Union Bank on private placement basis.

Welspun Corporation: Welspun Corp said that American Petroleum Institute, USA has granted license to the company, to manufacture SAWH pipes as per API Specification 5L & to apply API monogram on the pipes from company’s Madhya Pradesh facility with effect from 26 May 2021.

IOL Chemicals & Pharmaceuticals: The company reported 17% drop in net profit to Rs 75 crore on 4% rise in total revenue from operations to Rs 467 crore in Q4 FY21 over Q4 FY20.