Mumbai: The shares of IndiGo, Muthoot Microfin, RIL, Bharti Airtel, Vodafone Idea, State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, Power Finance Corporation and REC are expected to remain in focus on Tuesday.

IndiGo

Airbus confirmed that India’s largest airline, IndiGo, has ordered for 30 A350-900 planes. “India, the world’s fastest growing major aviation market, is on the verge of an international travel boom as the economy grows and household incomes rise,” Airbus said in a release.

Lupin

Pharmaceutical company Lupin declared its Q4 2023-24 Results on May 6, 2024. The firm posted a 52 per cent increase in consolidated net profit to Rs 359 crore in the last quarter of the previous financial year. The net profit stood at Rs 236 crore, while the total revenue reported from operations rose to Rs 4,961 crore in the period.

Muthoot Microfin

In its March quarter results of 2023-24, Muthoot Microfin declared a 27 per cent rise in its profit after tax at Rs 119.76 crore. The non-banking finance company’s net interest income (NII) increased 47 per cent to Rs 400 crore, while it surged two-fold to Rs 450 crore in 2023-24 fiscal.

RIL, Bharti Airtel, Vodafone Idea

Reliance Jio, Bharti Airtel, and Vodafone Idea have applied for the bidding for Rs 96,317-crore spectrum auction, which is scheduled to start from June 6, reports stated. “Reliance Jio, Bharti Airtel, and Vodafone Idea have submitted applications for spectrum auction,” an official source said.

In the upcoming auction, the Centre will put forward eight spectrum bands for mobile phone services at a base price of about Rs 96,317 crore.

PSU Banks

PSU bank stocks slipped on May 6 after the Reserve Bank proposed tighter rules to govern lending to projects under implementation. Shares of Punjab National Bank (PNB), Canara Bank, Bank of Baroda Union Bank of India, State Bank of India, and Bank of India suffered losses.
Power Finance Corporation was badly hit as the stock slumped 8.93 per cent and REC dropped 7.35 per cent.

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