Stock Radar: Bharti Airtel, Cipla, M&M, Siemens, IEX in focus today

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Let's catch up on the latest news from the stock market. From significant investments to major deals and earnings reports, here's a quick overview of what's been happening lately.

Earnings in Focus 

Power Finance Corporation, LIC Housing Finance, Clean Science and Technology, CMS Info Systems, Dixon Technologies (India), Granules India, Indian Energy Exchange, Jindal Stainless, Jyothy Labs, Mankind Pharma, Medi Assist Healthcare Services, NLC India, and Shriram Asset Management Company will release March FY24 quarter earnings on May 15.

Earnings Post Market Hours

Bharti Airtel (Consolidated, YoY)

Revenue up 4.4% to Rs 37,599 crore (Bloomberg estimate: Rs 38,607.3 crore)

Net profit down 31.1% to Rs 2,072 crore

Ebitda up 4.2% to Rs 19,590 crore

Board recommended dividend of Rs 8 per share

Note: Exceptional loss of Rs 2,455.5 crore

Shree Cement (Consolidated, YoY)

Revenue up 7% at Rs Rs 5,433 crore

Net profit up 21% at Rs 662 crore

Ebitda up 49% at Rs 1,327 crore

Board declared final dividend of Rs 55 per share

Also Read: Trading Plan: Will Nifty, Bank Nifty continue to rise in near-term?

Siemens (Consolidated, YoY)

Revenue up 18.4% at Rs 5,750 crore

Net profit up 70% to Rs 803 crore

Stocks to Watch 

Cipla

The promoter family and Okasa Pharma are likely to sell as much as a 2.53 percent stake worth Rs 2,637 crore via a block deal at Rs 1,289.50-1,357.35 per share, reported CNBC-Awaaz citing sources.

Mahindra and Mahindra

Subsidiary Mahindra Holdings will sell its entire 30.83 percent stake in NDCFS for Rs 425.39 crore.

Infosys

The company announced a multi-year strategic collaboration with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), to optimize and modernize FAB’s IT infrastructure services.

Also Read: Trade setup for Wednesday: 15 things to know before opening bell

Bulk deals

Sumeet Industries

Jyotika Deepak Shenoy sold a 0.74 percent stake in the company.

Globe Textiles

Interlink Developers sold 47 lakh shares in the company.

Ex-Dividend 

Coforge, Ador Welding, Aptus Value Housing Finance India, Hindustan Zinc, IRB Infrastructure

F&O Ban

Birlasoft, Balrampur Chini Mills, Canara Bank, GMR Airports Infrastructure, Hindustan Copper, Vodafone Idea, Piramal Enterprises, SAIL and Zee Entertainment Enterprises will be under the ban on May 15.