Reliance Industries (RIL) and Hindustan Zinc will announce their March quarter results on Friday. Nestle India, Mold-Tek Packaging, EID Parry and Mold-Tek Techologies are four stocks, which will turn ex-dividend today. Shares of IFL Enterprises will turn ex-split and ex-bonus while those of Gujarat Sidhee Cement will go ex-amalgamation. Jet Infraventure shares will turn ex-bonus, Tips Industries will go ex-split and Prerna Infrabuild will turn ex-rights today.
JM Financial expects RIL to report a 0.3 per cent year-on-year (YoY) rise in consolidated net profit at Rs 16,250 crore in the March quarter compared with Rs 16,203 crore in the year-ago quarter. It sees sales for the quarter rising 3 per cent to Rs 2,13,553 crore from Rs 2,07,375 crore in the year-ago quarter. Ebitda margin is seen expanding 209 basis points to 17.2 per cent from 15.1 per cent YoY. Sharekhan sees Reliance's consolidated profit at Rs 16,960 crore, up 4.7 per cent. It sees sales for the quarter rising 3.1 per cent to Rs 2,13,734 crore. Operating profit margin is seen at 16.9 per cent, up 176 basis points YoY.
Hindustan Zinc, on the other hand, is likely to report up to 20 per cent year-on-year (YoY) drop in net profit for the March quarter on flattish sales, thanks to lower commodity prices, brokerages said. All eyes would be on the management commentary on the merger of Zinc international business with Hindustan Zinc.
Phillip Capital said Hindustan Zinc may report March quarter profit at Rs 2,349.60 crore, a fall of 19.8 per cent over Rs 2,928 crore profit it reported in the year-ago quarter. Revenue is seen declining 3 per cent YoY to Rs 8,530 crore from Rs 8,797 crore in the year-ago quarter. Ebitda margin is seen at 48.5 per cent against 47.1 per cent in December and 56.4 per cent in the year-ago quarter.
Nestle India shares would turn ex-dividend today. The company had announced an interim dividend of Rs 27 per share and a final dividend of Rs 75 per share. Ex-date for the same is today. Nestle India would pay the dividend to eligible shareholders on May 12.
Mold-Tek Packaging and EID Parry shares would turn ex-dividend today. Both the companies had announced interim dividend of Rs 4 per share. Ex-date for the same is today. The company would pay the dividend to eligible shareholders on May 10 while Mold-Tek Packaging on May 11. Mold-Tek shares would turn ex-dividend today. This firm had announced interim dividend of Rs 2 per share.
IFL Enterprises will turn ex-bonus in the 1:4 ratio and also ex-split from a face value of Rs 10 to ten shares with face of Re 1 each. Meanwhile, Bank of Baroda's board would meet today to consider and approve raising of foreign currency fund.