Mahindra & Mahindra and all banking stocks in the spotlight on June 4

Jun 4, 2021

By: Rounak Jain

Credit: BCCL

Banking stocks

The Reserve Bank of India is scheduled to announce its monetary policy today.

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Mahindra & Mahindra

The Ministry of Defence has signed a contract with Mahindra Telephonics Integrated Systems to deliver 11 airport surveillance radars for use by the Indian Navy and Indian Coast Guard, at a price of ₹323 crore.

Credit: Mahindra & Mahindra

Punjab National Bank

The troubled bank will declare its March 2021 quarter results today.

Credit: BCCL

Earnings today

Punjab National Bank, Bharat Forge, Bank of India, NIIT, Jubilant Pharmova, Varroc Engineering, Pennar Industries, IOL Chemicals & Pharmaceuticals.

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IDBI Bank

It has won a $239 million judgment against a Cypriot subsidiary of India’s Essar Shipping Group in the High Court of London.

Credit: BCCL

Gujarat State Petronet

It reported an increase in its March 2021 quarter net profit to ₹578 crore from ₹498 crore a year ago. Revenue surged by 19 percent to ₹3,829 crore, year-on-year.

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Som Distilleries & Breweries

The company bounced back to green in the March 2021 quarter with a net profit of ₹3.7 crore, against a loss of ₹5 crore a year ago. Revenue surged by 19 percent to ₹192 crore, year-on-year.

Credit: Som Distilleries & Breweries

Anupam Rasayan

Its long-term rating has been upgraded a notch from Crisil A-/Stable to Crisil A/Stable. Short-term rating has been upgraded to A2+ from A1.

Credit: Anupam Rasayan

Quess Corp

It reported a 90 percent reduction in its net loss in the March 2021 quarter to ₹58 crore from ₹630 crore a year ago. Revenue growth remained flat at ₹3,005 crore from ₹2,995 crore, year-on-year.

Credit: Quess Corp

Lupin

It has launched a USFDA-authorised generic version of Brovana Inhalation Solution in the US.

Credit: Lupin

Reliance Industries, Rossari Biotech, Tata Power and other stocks to watch out for on June 3