Stocks to Watch: ITC, Maruti, Bajaj Auto, Bharti Airtel, Adani Green – Mint

ITC Ltd: Reported a 13.7% rise in fiscal second-quarter profit, beating analysts’ estimates. Net profit of the country’s largest cigarette maker rose to ₹3,697.18 crore in the three months ended 30 September from ₹3,252.62 crore in the year earlier. A Bloomberg survey of 16 analysts had pegged profit at ₹3,639 crore. Standalone revenue from operations grew 12% to ₹13,553.52 crore.

Maruti Suzuki: Will launch electric vehicles in the country only after 2025 as demand for such vehicles at the moment is less. India’s largest carmaker on Wednesday reported a 65% drop in its standalone net profit to ₹475 crore for the September quarter.

Bharti Airtel: The telco has raised ₹5246.85 crore in the first tranche of its ₹21,000-crore rights issue with its board clearing the allotment of 392,287,662 rights equity shares to eligible applicants, with ₹133.75 paid on application. The balance amount of the issue is to be paid in two more additional calls as may be decided by India’s second-largest telco as part of the issue.

Bajaj Auto: On Wednesday reported a 71% in consolidated net profit to ₹2,039.86 crore for the quarter ended September. Consolidated total income was at ₹9,080.50 crore, up form ₹7,441.66 crore in the year-ago period.

Adani Enterprises: The flagship entity of the Adani Group is in talks with at least half a dozen sovereign and global pension funds and energy majors, such as the Abu Dhabi Investment Authority, the Qatar Investment Authority, a BNP Paribas arm and TotalEnergies SE, to raise up to $2 billion in equity sales.

Adani Ports and Special Economic Zone: Said it has decided to exit its investment in Myanmar by June next year. The project had run into controversy after it was reported that APSEZ chief executive Karan Adani had in July 2019 met senior general Min Aung Hlaing, the army chief who led a coup against the elected government.

Future Retail: In the Amazon-Future battle over the Reliance Retail deal, Future Group has approached the Delhi HC, seeking a stay on an interim order passed by the Singapore International Arbitration Centre (SIAC). Future Group promoters and Future Coupons have urged the high court to set aside the SIAC order. Last week, SIAC dismissed Future Group’s appeal to vacate the interim stay on the Reliance transaction awarded in October 2020.

Titan Company: Reported a nearly four-fold surge in consolidated net profit to ₹641 crore for the September quarter compared with ₹173 crore in the same quarter last year. Consolidated sales for the quarter grew 75.5% on year to ₹7,243 crore.

Yes Bank: The Mumbai-bench of the National Company Law Tribunal on Wednesday allowed time till 15 November to file its response in a petition filed by Yes Bank. the company’s largest shareholder. The lender has removal of managing director Jawahar Goel and four independent directors, and approval for induction of seven directors.

IndusInd Bank: Reported a 73% jump in consolidated net profit for the September quarter to ₹663 crore. Net interest income rose 12% to 3,658 crore, driven by a 10% growth in advances.