Stocks to Watch: ITC, IndusInd Bk, Adani Transmission, Tata Metaliks, RVNL


Adani Transmission, REC: The company has entered into a Share Purchase Agreement with REC Power Development and Consultancy Limited to acquire entire stake of WRSR Power Transmission Limited. CHECK DETAILS HERE

ALSO CHECK   Americans’ credit-card balances just zoomed past prepandemic levels

Sundram Fasteners: The company has bagged a contract worth $250 million from a leading global automobile manufacturer to supply sub-assemblies for its electric vehicle platform.

Dishman Carbogen Amcis: The Board of Directors of the company has approved issuance of non-convertible debentures, aggregating up to Rs 100 crore, on a private placement basis.

Coforge: Life Insurance Corporation (LIC) has increased its stake in the company to 5.03 per cent from 4.98 per cent.

Delta Corp: The company has reported a standalone net profit of Rs 74.2 crore for the quarter ended December, 2022, (Q3FY23) as against a profit of Rs 66.86 crore recorded in Q3FY22. Revenue from operations increased marginally to Rs 166.1 crore vs Rs 165.2 crore year-on-year (YoY).

Tata Metaliks: It reported a sharp fall of 73 per cent in its December quarter net profit at Rs 9.48 crore, on account of increased expenses. The company had posted a Rs 35.65 crore net profit in the year-ago period, according to a statement. Its total income rose to Rs 792.43 crore from Rs 693.12 crore during the October-December period of the previous year. READ MORE

Bank of India: The company said it expects gross non-performing assets (GNPAs) to be below 7 per cent in the current financial year (FY23). At the end of Q3FY23, the lender’s GNPA ratio was 7.66 per cent, while NNPA ratio was 1.61 per cent. It posted net profit of Rs 1,151 crore, up 12 per cent YoY and 20 per cent sequentially.

Paint, Tyre, OMC stocks: Oil-linked stocks are likely to be on investors’ radar as brent crude prices rose nearly 2 per cent overnight to hover above $85/barrel-mark.

ALSO CHECK   Pets at Home sees FY 2023 underlying pretax profit at upper end of consensus

RVNL: The company has emerged as the Lowest Bidder (L1) for Surat Metro Rail Project Phase-I (cost Rs 673.8 crore), and Ahmedabad Metro Rail Project Phase-II (cost Rs 384.3 crore).

EID-Parry: The company’s new 120 KLPD distillery at its sugar unit at Sankili, Andhra Pradesh, has commenced commercial operations. READ MORE

Eris Lifesciences: The Indian drugmaker said on Tuesday that it would acquire a portfolio of dermatology brands from Glenmark Pharmaceuticals for Rs 340 crore ($41.63 million) to deepen its presence in the anti-fungal and anti-psoriasis segments. Separately, the company has reported total income of Rs 425.495 crore, and net profit of Rs 101.859 crore during the period ended December 31, 2022.

Gokaldas Exports: Goldman Sachs Asset Management International has marginally raised stake in the company to 5.003 per cent from 4.985 per cent.

ICICI Prudential Life Insurance: ICICI Prudential Life Insurance Company on Tuesday reported 29 per cent YoY fall in net profit for Q3FY23 at Rs 220.63 crore. The net premium income, meanwhile, rose 4.3 per cent YoY to Rs 9,465 crore. The net income from investments surged over 10-fold on year to Rs 7,722 crore.

ICICI Prudential General Insurance: It’s net profit for the third quarter rose by 11 per cent YoY to Rs 353 crore, aided by higher gross premiums.

Tata Investment Corp: The company’s net profit fell 59.5 per cent YoY to Rs 14.8 crore for the December quarter, while revenue decreased 53 per cent to Rs 24.8 crore.

Hathway Cable and Datacom: The company reported a 15.3 per cent YoY fall in consolidated net profit for Q3FY23 to Rs 28.74 crore. Consolidated revenue rose to Rs 478.45 crore, up 5 per cent YoY.

ALSO CHECK   Samsung Galaxy A75 Price In India, Full Specification, Features, How To Buy Online?

Stocks in F&O ban: Delta Corp, GNFC, Indisbulls Housing Finance, L&T Finance Holdings

Leave a Comment