Buzzing Stocks: Lupin, Raymond, Mahanagar Gas, Mankind Pharma stocks and others in focus

Results on May 9: Lupin, Raymond, Reliance Infrastructure, Apollo Tyres, Birla Corporation, Castrol India, Chalet Hotels, Eveready Industries India, Godrej Agrovet, Hatsun Agro Product, Indraprastha Gas, JM Financial, KSB, Latent View Analytics, Matrimony.com, Nazara Technologies, Nuvoco Vistas Corporation, Rain Industries, Shipping Corporation of India, SRF, Suven Life Sciences, and Westlife Foodworld will be in focus ahead of quarterly earnings on May 9.

Mahanagar Gas: The natural gas distribution company has recorded a 56.2% quarter-on-quarter growth in profit at Rs 268.81 crore for March FY23 quarter, driven by healthy operating performance. Revenue fell 3.6 percent sequentially to Rs 1,610.5 crore, with volumes declining 1.16% QoQ. Numbers, barring topline, were above estimates. The company announced final dividend of Rs 16 per equity share.

Andhra Paper: The paper and pulp manufacturer has clocked a 168% year-on-year growth in profit at Rs 153.9 crore for quarter ended March FY23, driven by healthy topline, and operating numbers. Revenue from operations grew by 38.55% to Rs 590 crore compared to year-ago period.

Carborundum Universal: The Murugappa Group company has recorded a 140.4% year-on-year growth in consolidated profit at Rs 137.1 crore for March FY23 quarter on strong operating and topline numbers. Revenue increased by 38% to Rs 1,199.6 crore compared to same period last year with good growth in all segments including abrasives, ceramics and electro minerals. The company announced a final dividend of Rs 2 per share for FY23.

VIP Industries: The luggage and bags manufacturer has posted net loss of Rs 4.3 crore in March FY23 quarter, against profit of Rs 12.4 crore in same period last year. The company had an exceptional loss of Rs 47.21 crore relating to a loss of property, plant and equipment and inventories that were destroyed due to a major fire at a plant of Bangladesh subsidiary in Q4FY23. Revenue grew by 27% YoY to Rs 450.6 crore.

Godrej Consumer Products: Godrej Consumer has completed acquisition of FMCG business of Raymond Consumer Care. On April 27, the company had announced the proposed acquisition of FMCG business of Raymond Consumer Care by way of a slump sale. RCCL is a leading player in the deodorants and sexual wellness categories in India.

CG Power & Industrial Solutions: The company said board has reappointed Natarajan Srinivasan as Managing Director with effect from November 26, 2023, up to April 30, 2025.

Canopy Finance: The board of directors has approved the re-appointment of Lalit Kumar Tapadia as a Managing Director for a period of 1 year, subject to approval of shareholders of the company.

Pidilite Industries: The adhesive manufacturing company has recorded a 11.3% year-on-year growth in consolidated profit at Rs 283.03 crore for quarter ended March FY23 on good operating numbers, Revenue from operations rose 7.3% to Rs 2,689.25 crore in the same period.

Mankind Pharma: The pharmaceutical firm will make its debut on the bourses on May 9. The issue price has been fixed at Rs 1,080 per share.