Top Stocks to Watch: PowerGrid, HealthCare Global and Novartis

Indian benchmark indices look set for a positive start on Friday as Asian markets witnessed a mixed trend on cues from Wall Street.Meanwhile, the SGX Nifty were trading at 71.00 points or 0.45 percent higher at the 15,763.50 level on the Singaporean Exchange at 7:30 am, indicating a positive start for the broader index in India.

Top stock to look for the day:

Jammu & Kashmir Bank: The bank reported standalone profit at Rs 315.75 crore in Q4FY21 against a loss of Rs 294.1 crore in the same period a year ago. Net interest income dropped to Rs 917.42 crore from Rs 987.24 crore, YoY.

PowerGrid Corporation of India: The company’s Q4FY21 consolidated net profit increased 6 percent to Rs 3,526.23 crore from Rs 3,313.47 crore in Q4FY20. Revenue rose to Rs 10,816.33 crore from Rs 10,507.65 crore, YoY. The company’s board of directors recommended the issue of bonus shares in the ratio of 3:1.

Natco Pharma: The company’s Q4FY21 net profit fell 43.1 percent to Rs 53 crore from Rs 93.2 crore in Q4FY20. While revenue fell 27.2 percent to Rs 331.3 crore from Rs 454.8 crore, YoY.

Nazara Technologies: The Rakesh Jhunjhunwala backed company will buy a 69.82 percent stake in Publishme, a full-service games marketing and publishing agency, for Rs 20 crore.

Khadim India: The footwear company reported a consolidated profit at Rs 11.52 crore in Q4FY21 against a loss of Rs 19.87 crore in the same period last year. Revenue jumped to Rs 269.95 crore from Rs 158.2 crore, YoY.

Coal India: The company is contemplating to hike coal price for the regulated sector and may take a call soon, a senior official said on Thursday.

Tube Investments of India: The company reported a higher consolidated profit at Rs 160.4 crore in Q4FY21 against Rs 59.76 crore in the corresponding period last year. Revenue increased to Rs 2,732.82 crore from Rs 1,031.01 crore YoY. Meanwhile, the company has approved its fresh long-term borrowing of Rs 200 crore for FY22 by way of issue of privately placed secured non-convertible debentures, in one or more tranches.

Hindustan Media Ventures: The company’s Q4FY21 net profit fell 20.1 percent to Rs 22.07 crore from Rs 27.62 crore Q4FY20. While revenue declined 8.41 percent to Rs 161.75 crore from Rs 176.61 crore, YoY.

Novartis India: The company reported a net profit of 9.7 crore in Q4FY21 against 6.78 crore in the same period last year. While, revenue jumped to Rs 99.29 crore from Rs 93.7 crore, YoY.

HealthCare Global Enterprises: The company reported a higher consolidated profit at Rs 113.76 crore in Q4FY21 against Rs 50.44 crore a year ago, revenue increased to Rs 297.04 crore from Rs 269.5 crore YoY.

Mangalam Organics: CRISIL has reaffirmed long term rating for various credit facilities of the company at ‘A-‘ and upgraded outlook to Positive from Stable.

List of companies which are going to declare their quarterly results:Ashoka Buildcon, Balaji Telefilms, GMR Infrastructure, Gujarat Fluorochemicals, HT Media, Hinduja Global Solutions, Insecticides (India), Jubilant Industries, PSP Projects, SMS Lifesciences and Welspun Specialty Solutions among others will release their quarterly results on June 18.