Stocks to Watch: Reliance, Mindtree, Tata Motors, HCL Tech, Welspun Enterprises – Mint

Reliance Industries: The company pledged to invest a massive ₹6 trillion ($80 billion) in Gujarat over 10 to 15 years for its clean energy businesses, as India’s largest fossil-fuel refiner seeks to extend its dominance amid a global shift to renewables.

Mindtree: The IT services company on Thursday posted a consolidated net profit of ₹437 crore for the third quarter ended December, up 34% from the year-ago period. The company’s revenue from operations came in at ₹2,750 crore, registering a growth of 36% from a year ago.

Tata Motors: The automaker said its global wholesales, including Jaguar Land Rover, rose to 2,85,445 units in third quarter of the current financial year, which is 2% higher when compared with corresponding period of previous year. Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in the third quarter of 2021-22 were 1,02,772 units, higher by 14%.

Welspun Enterprises: Private equity investor Actis is in advanced talks to buy six road assets of  the company for an enterprise value of ₹8,000 crore- ₹10,000 crore. The BK Goenka-led infrastructure and energy firm’s road assets, which are up for sale, include five hybrid annuity model (HAM) roads and one build-operate-transfer (BOT) project.

HCL Tech: The Noida-based company will announce its December quarter earnings today. The company had reported a net profit of ₹3,037 crore in the December quarter of 202, up 14.6% sequentially and 16.3% year-on-year.

Titan Company: Billionaire investor Rakesh Jhunjhunwala has raised stake in the Tata Group’s flagship company during the third quarter ended December. Jhunjhunwala increased his stake to 4.02%, holding about 3,57,10,395 shares.

Vodafone Idea: The telco has partnered with US-based Ciena for 5G solutions. The telco said that it is revamping its backbone scalability and service resiliency with help from American telecommunications networking equipment company to prepare for the 5G rollout.

GTPL Hathway: The company’s net sales fell 7.42% to ₹599.13 crore in December quarter. Net Profit came in at Rs. 54.65 crore, up 20.83% from Rs. 45.23 crore a year ago.

CESC: The company’s net profit stood at Rs. 329.00 crore in December quarter, up 1.54% from Rs. 324.00 crore a year ago. Net Sales rose 11.3% to ₹2,826.00 crore from Rs. 2,539.00 crore.

Ircon International: The company has incorporated a unit and joint venture for setting up of 500 MW grid connected solar PV project awarded by Indian Renewable Energy Development Agency Ltd.