Stocks to Watch, May 12: Happiest Minds, Tata Steel, YES Bank, SBI, IndusInd Bank, Triveni Turbine, Adani Power, pharma stocks, and more

Following the completion of the transaction, SMBC will become the single largest shareholder of Mumbai-based Yes Bank.

Of the 20% stake, SBI would dilute a 13.19% stake in YES Bank in favour of SMBC for a consideration of ₹8,889 crore. In comparison, 6.81% shareholding will be offloaded by seven other lenders -- Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank -- for about ₹4,594 crore.

SBI and the seven investor lenders invested in the bank in March 2020 as part of the YES Bank Reconstruction Scheme.

The Hyderabad-based drug firm had reported a net profit of ₹1,307 crore during the January-March period of the previous fiscal year.

Revenue increased to ₹8,506 crore for the period under review as against ₹7,083 crore in the year-ago period, Dr Reddy's Laboratories said in a regulatory filing.

For FY25, the drug firm posted a net profit of ₹5,724 crore as compared with ₹5,568 crore in the 2023-24 fiscal year, registering a growth of 3%.

The Reserve Bank of India (RBI) said a penalty of ₹1,72,80,000 has been imposed on SBI for non-compliance with certain directions on "Loans and Advances-Statutory and Other Restrictions", "Customer Protection — Limiting Liability of Customers in Unauthorised Electronic Banking Transactions", and "Opening of Current Accounts by Banks — Need for Discipline".

In another statement, the central bank said a penalty of ₹1 crore has been imposed on Jana Small Finance Bank Ltd for contravention of certain provisions of the Banking Regulation Act, 1949.

The deal is expected to be completed in the next 2 months.

The acquisition of DNV Global will help Fenesta in backward integration and provide an opportunity to create a new line of business (hardware).

Triveni Turbine: Triveni Turbine on Saturday reported a 60.44% rise in standalone profit to ₹93.7 crore in the March quarter, on account of higher income.

It had posted a ₹58.4 crore profit after tax in the year-ago period, the company said in an exchange filing.

The company's total income rose to ₹508.1 crore from ₹400.2 crore a year ago.

For the entire FY25, net profit rose to ₹374.4 crore from ₹209 crore in FY24.

It reported a consolidated net loss of ₹53.32 crore during the quarter ended on March 31, 2024, a regulatory filing showed.

Total income during the quarter rose to ₹385.44 crore from ₹287.83 crore in the same period a year ago.

The board also approved the proposal for seeking approval of shareholders by way of an enabling resolution at the ensuing annual general meeting, authorising the board to raise funds, as and when required, up to Rs 500 crore, using such modes as the board may determine.

This is further to the Uttar Pradesh cabinet approving the project earlier this month, a company statement said.

The company will now sign a long-term power supply agreement with Uttar Pradesh Power Corporation Ltd (UPPCL) under the Letter of Award (LoA) received today, it stated.

It had reported ₹89.67 crore in the January-March period of the 2023-24 fiscal year, the company said in an exchange filing.

The company's total income rose to ₹669.76 crore from ₹610.13 crore in the fourth quarter a year ago.

The company's Chairman, Dinesh Patidar, said, "We reported our highest-ever revenue of ₹25,162 million (₹2,516.2 crore) in FY25, which surged by 83.6% YoY, while PAT grew exceptionally by 188.2% to ₹4,084 million (₹408.4 crore).

It had posted a net profit of ₹193.34 crore in the January-March period last year, according to a regulatory filing by Birla Corporation on Friday evening.

Birla Corporation's revenue from operations rose 6% to ₹2,814.91 crore during the March quarter. It was ₹2,654.44 crore a year ago.

The core net interest income grew by 2% to ₹6,063 crore for the three months, but the other income rose 96% to ₹3,428 crore.

Recoveries from written-off accounts jumped 195% to ₹1,193 crore, while treasury gains were up 87% at ₹711 crore, which contributed to the jump in the other income.

The net interest margin (NIM) narrowed to 2.61%, down from 2.92% in the year-ago period, and it was this compression that led to the softness in the core income growth, even though there was a 13.74% growth in advances.

Currently, the airline has an operational fleet of around 25 aircraft, including a few taken on wet lease.

In a regulatory filing, the budget carrier said it has ungrounded and re-inducted one additional Boeing 737 NG aircraft (VT-SGV) into its operational fleet from Friday.

The US-based agency also downgraded IndusInd Bank's standalone credit profile to ba2 from ba1, reflecting weakness in its internal controls as highlighted by the discrepancy in derivatives accounting, inadequate management oversight, and concerns about the bank's medium-term strategy due to the resignation of senior leadership without adequate succession planning.

The company had reported a loss of ₹397.56 crore in the quarter ended on March 31, 2024, a regulatory filing showed.

Total income dipped to ₹2,066 crore in the later fourth quarter from ₹2,193.85 crore in the same period a year ago.

Total expenses declined to ₹1,998.49 crore in the quarter under review from ₹2,615.15 crore a year ago.

During the 2024-25 fiscal year, the annual consolidated net profit stood at ₹2,947.83 crore.

The company had reported a loss of ₹2,068.38 crore in 2023-24.

All 12 public sector banks had earned a total profit of ₹1.41 lakh crore in FY24.

The year-on-year increase in profit in absolute terms rose by about ₹37,100 crore in FY25.

Out of the total profit of ₹1,78,364 crore earned during FY25, market leader State Bank of India (SBI) alone contributed over 40% of the total earnings, as per the published numbers on stock exchanges.

In the year-ago period, the company earned a profit of ₹188 crore, a company statement said.

Operating revenue during the quarter was at ₹3,085 crore as against ₹2,764 crore in the year-ago period.

The board has recommended a dividend of ₹14 per equity share of ₹2 each for 2024-25, subject to approval of shareholders.

The record date for payment of the dividend is fixed at July 4, 2025.

The company follows a January-December financial year.

"The company reported profit after tax of ₹474 crore at the end of Q1 CY2025 (January-March 2025) as compared to ₹460 crore in Q1 CY2024," a company statement said.

According to the statement, the company achieved a revenue of ₹3,160 crore for the first quarter (January-March 2025), which is higher than ₹3,080 crore in the same period a year ago.

The city-headquartered company had registered a profit after tax of ₹1,143.75 crore during the corresponding quarter of the last financial year.

For the financial year ending March 31, 2025, the consolidated PAT grew to ₹4,739.88 crore from ₹3,850.56 crore registered during the corresponding quarter of the last financial year.

The company had earlier announced that it would acquire a 58.96% stake in SML Isuzu for ₹555 crore.

"The proposed combination relates to the acquisition of shareholding by the acquirer (M&M) in the target (SML Isuzu Ltd)," a notice filed with the Competition Commission of India (CCI) said on May 5.

The proposed combination is notified under section 5(a)(i)(A) of the Competition Act, 2002, it added.