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Ashok Leyland, HAL, Biocon, HPCL, Fortis Healthcare, Indigo Paints stocks in focus

20 May , 2022   By : monika singh

Ashok Leyland, HAL, Biocon, HPCL, Fortis Healthcare, Indigo Paints stocks in focus

SGX Nifty hinted at a positive start for benchmark indices BSE Sensex and NSE Nifty 50 on Friday. Nifty futures traded 211 points, or 1.34% higher at 15,996, on the Singapore Exchange signaling that Dalal Street was headed for a gap-up open. “Rising inflationary pressure, continuous FIIs selling and rupee depreciating to all time low have turned investors pessimistic in the near term. After a minor pause, sharp selling was again seen in the market and it was unable to hold at higher levels. Rising VIX is further giving discomfort and suggesting wild swings ahead. Nifty has broken its key support levels and till it is below 16,000 – weakness may continue towards 15,500,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

Stocks in focus on 20 May, Friday

Hindustan Aeronautics (HAL): Hindustan Aeronautics announced that Type Certification of first Indigenous Light Transport civil passenger aircraft “Hindustan 228-201” was handed over today by Directorate General of Civil Aviation (DGCA) to Transport Aircraft R & D Center, HAL Kanpur at DGCA HQ New Delhi. Hindustan 228-201 aircraft is the first Type Certified fixed wing aircraft in India complying with latest FAR 23 certification requirement which is a major milestone towards vision of building a new, AtmanNirbhar Bharat.

Biocon: Biocon Biologics Ltd., a subsidiary of Biocon, and Viatris Inc. announced on Thursday that Abevmy® (bBevacizumab) is now available in Canada. Abevmy, co-developed by Biocon Biologics and Viatris, is a biosimilar to Roche’s Avastin® (Bevacizumab) and has been approved by Health Canada across four oncology indications, according to the companies’ press statement on Thursday. “With the launch of Abevmy, (bBevacizumab), we are adding another world-class biosimilar to our oncology portfolio in Canada, which includes Ogivri (Trastuzumab) and Fulphila (Pegfilgrastim). Abevmy will be an important addition to our existing portfolio and will enable us to expand patient access to another affordable biologic for cancer care,” Matthew Erick, Chief Commercial Officer, Advanced Markets, Biocon Biologics, said in a statement.

HPCL: State-run oil refiner and marketer Hindustan Petroleum Corp. Ltd (HPCL) posted a 34?cline in consolidated net profit in the March quarter to Rs 2,019 crore from Rs 3,061 crore in the year-ago period due to rise in total cost. Revenue for the quarter stood at Rs 1.07 lakh crore, up 24.2% from Rs 85,755 crore last year. Total cost rose 28% to Rs 1.05 lakh crore from Rs 81,717 crore a year ago. Operating margin for the quarter contracted sharply to 1.57% from 4.46% last year. Average gross refining margin during the year ended March 2022 was $7.19 per barrel as against $3.86 per bbl during the corresponding previous year.

Ashok LeylandAshok Leyland Ltd reported a 274% on-year jump in net profit at Rs 901.4 crore for the fourth quarter. Total income stood at Rs 8,744.3 crore during the quarter, up 24.9% against Rs 7,000.5 crore in the corresponding period of the preceding fiscal. Its truck market share for Q4 FY 22 has improved to 30.6% against 28.9% in Q4 FY21, this is the highest market share seen in the last 11 quarters.

Fortis Healthcare: Markets regulator Sebi has imposed penalties totalling Rs 38.75 crore on 32 entities, including Fortis Healthcare Holdings, in a case related to diversion of funds of Fortis Healthcare Ltd (FHL) and misrepresentations to conceal the fraud. The matter goes way back to 2018 when a media report came out that the promoters of the listed FHL had allegedly taken massive funds out of the listed company. It had also pointed out that Deloitte Haskins & Sells LLP, the statutory auditor of FHL, had refused to sign on the company’s second quarter results until the funds were accounted for.

Q4 Results today: Amara Raja BatteriesIDFC Ltd, Indigo Paints, Lakshmi Mills Co Ltd, Mindteck India Ltd, Nuvoco Vistas Corp Ltd, Rane Madras Ltd, SML Isuzu Ltd will report their March quarter earnings today

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