Press "Enter" to skip to content

Stocks in news: Tata Motors, Dr Reddy’s, Adani Enterprises, Bajaj Fin, Vedanta, CEAT, Tata Elxsi – Economic Times

The February contract of Nifty50 on the Singapore Exchange indicates a positive start for domestic equities on Friday. The contract was trading at 83 points or 0.46% higher from the previous close.

Following stocks will hog the limelight today:

: The automaker was back in black after 7 quarters, as the company posted a consolidated net profit of Rs 2,958 crore for the quarter ended December, against a loss of Rs 1,516 crore a year ago. The profit figure is way higher than ET Now poll of Rs 285 crore. Consolidated revenue from operations rose 22.5% YoY to Rs 88,489 crore.

Dr Reddy’s Laboratories: The drugmaker beat Street estimates by reporting a 77% on-year rise in December quarter net profit to Rs 1,247 crore. Revenue jumped 27% YoY higher to Rs 6,770 crore. During the quarter, the company’s gross margin increased to 59.2% up from 53.8% in the year-ago period.

: The company’s Rs 20,000 crore follow-on public offer (FPO) will open for subscription on Friday. The company raised close to Rs 6,000 crore from over 30 institutional investors, including prominent names such as Abu Dhabi Investment Authority (ADIA), Al Mehwar Investments, Citigroup Global, Morgan Stanley, Goldman Sachs, , , and SBI Pension Fund. The price band for the FPO is Rs 3,112-3,276 a share.

After a report by American short-seller Hindenburg Research left Adani Group investors poorer by Rs 1 lakh crore in a single day, the conglomerate said it is evaluating legal action against the research firm.

: The NBFC major’s board will meet to consider and approve earnings for the quarter ended December. The company is expected to report a healthy profit growth of over 30% on improvement in net interest income (NII). Its net interest margin (NIM) may, however, compress due to rising funding costs.
: The board of directors will meet to consider and approve the earnings from the quarter and nine months ended December.
: The board will meet on Tuesday to discuss a proposal to issue Rs 1,600 crore worth debentures to mobile tower vendor ATC Telecom Infrastructure. Vodafone Idea (VIL) and ATC had agreed to extend the last date to issue optionally convertible debentures (OCD) till February 28 after the shareholder’s approval to issue the debentures lapsed in December.: The automaker will introduce at least half a dozen electric vehicles in the local market starting next financial year to build a strong EV portfolio by 2030. It will also introduce carbon-neutral internal combustion engine vehicles powered by CNG, biogas and ethanol, Japanese parent Suzuki Motor said, outlining its roadmap for the decade.: The secured creditors of the company have withdrawn a plea from the National Company Law Appellate Tribunal (NCLAT) challenging the NCLT’s order of maintaining a status quo on the debt resolution process at the distressed financier. The development came after the appellate tribunal observed that at this stage it is not inclined to hear the matter since the final order by NCLT is expected next week.: The board has approved the expansion of the manufacturing capacity of transformers at two of its facilities in Madhya Pradesh at an outlay of Rs 126 crore, the company said on Wednesday.

Sah Polymers: The company has commissioned its flexible intermediate bulk containers plant in Udaipur. The unit has a production capacity of 3,960 tn a year and commercial production has started from Wednesday.

: The company posted consolidated net profit of Rs 35.3 crore for the December quarter, compared with a loss of Rs 20 crore a year ago. Revenue increased 13% on year to Rs 2,727 crore. : The company’s net profit for the December quarter declined 29% on year to Rs 87 crore. Revenue from operations increased 7% to Rs 1,337 crore. : The company has sold its entire 50% stake in Bhutan JV company Kholongchhu Hydro Energy to partner Druk Green Power Corp for Rs 354 crore. : The company’s net profit for the December quarter rose 29% on year to Rs 195 crore. Revenue from operations increased 29% to Rs 820 crore. : The company has reported a 54% on year rise in net profit to Rs 220 crore for the December quarter. Total revenue grew 11.5% on year at Rs 2,640 crore.

LTIMindtree: The company has partnered with Duck Creek Technologies and Microsoft to build solutions for the insurance sector to help them migrate their on-premises systems onto cloud.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)