/Stocks in the news: RIL, Maruti, M&M, Asian Paints

Stocks in the news: RIL, Maruti, M&M, Asian Paints

Mumbai: The 30-share Sensex closed 3.05 per cent, or 997.46 points, higher at 33,717 on Thursday, while the 50-share Nifty rose 3.21 per cent, or 306 points, to close at 9,859. The Indian bourses were closed on Friday for Maharashtra day.

Going into Monday’s session, Dalal Street has to adjust with the depression that set in across global markets, as equities took a turn for the worst on the first trading day of May after US President Donald Trump threatened to slap new tariffs on China over the coronavirus crisis. Most Asian and European markets tanked on Friday.

That said, here are a few stocks which are likely to see some action in Monday’s trade:

Reliance Industries (RIL):
Oil-to-telecom conglomerate RIL on Thursday missed street estimates and reported a 38.73 per cent year-on-year (YoY) fall in consolidated net profit at Rs 6,348 crore for the quarter ended March 31. Separately, Reliance Jio also announced plans to enter the video-conferencing space with its app Jio Meet.

Maruti Suzuki: Maruti Suzuki, the country’s largest carmaker, on Friday reported zero domestic sales last month, in light of the nationwide lockdown due to coronavirus pandemic. That marked the first time ever that Maruti Suzuki posted zero sales in a month in the domestic market.

Mahindra & Mahindra (M&M):
M&M on Friday reported 83 percent decline in total tractor sales at 4,772 units in April with lockdown impacting sales. The company had sold a total of 28,552 units in the same month last year.

Hindustan Unilever (HUL): FMCG major Hindustan Unilever on Thursday reported a 3.43 per cent year-on-year (YoY) drop in consolidated net profit at Rs 1,520 crore for March quarter, compared with Rs 1,574 crore in the same quarter last year. The profit figure missed ET NOW poll estimate of Rs 1,822 crore.

Tech Mahindra: IT major Tech Mahindra on Thursday posted a 29 per cent year-on-year (YoY) fall in consolidated profit at Rs 803.90 crore for the quarter ended March 31. Analysts in an ET NOW poll had projected the number at Rs 1,012.40 crore.

Asian Paints: India’s largest decorative paints maker Asian Paints on Friday announced that it will start making hand and surface sanitisers under the Viroprotek brand and it will be available in the market from next week.

Marico forayed into the vegetable and fruit hygiene category with the launch of Veggie Clean which will help disinfect fresh produce.

Mahindra Holidays & Resorts: The company on Sunday said it plans to first reopen resorts that are at drivable distance from the metro cities once the coronavirus lockdown is lifted.

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