• Adani Ports, Tech Mahindra, UPL, Cholamandalam Investment, LIC Housing Finance, JK Tire and Sun Pharma will be in focus as they announce their September quarter earnings today.
Here is a list of top 10 stocks that will be in focus today:
Bharti Airtel: Telecom major Bharti Airtel on Monday posted a lower-than-expected quarterly profit, flagging a headwind for the telco operator, as it starts rolling out 5G services across India. Airtel reported a consolidated net profit of ₹2,145 crore for the quarter ended 30 September 2022. This is an increase of 89% as compared to ₹1,134 crore in the corresponding quarter of the previous year. On a sequential basis, Airtel reported 33.5% growth in consolidated net profit for the quarter.
Axis Bank: Bain Capital will sell a 1.24% stake in private lender Axis Bank Ltd through a block trade on Tuesday that is expected to fetch $410 million to the private equity investor, according to the terms of the deal seen by Mint. Bain Capital holds a 4.24% stake in Axis Bank as of September 30 through three entities - BC Asia Investments VII, BC Asia Investments III and Integral Investments South Asia IV.
Tata Steel: Domestic steel major Tata Steel on Monday reported a consolidated profit after tax (PAT) of ₹1,514 crore for the quarter ended September 2022 due to higher costs and weak operating performance amid the global economic slowdown. The PAT was 87% lower as compared to the profit of Rs 11,918 crore reported during the corresponding quarter of the previous year. On a sequential basis, PAT witnessed a decline of 80% from ₹7,764.96 crore received during the April-June quarter.
L&T: Larsen & Toubro (L&T) on Monday reported a consolidated net profit of ₹2,229 crore for the quarter ended September 30, 2022. This is an increase of about 22.5 per cent from ₹1819.45 crore in the corresponding quarter of the previous year. Consolidated revenue for the period under review grew by nearly 23 per cent to ₹42,763 crore as against ₹34772.90 crore in the year-ago period. International revenue during the quarter was ₹15,473 crore which was 36% of the total revenue.
Supreme Industries: Plastic products maker Supreme Industries on Monday reported a 64.13 per cent decline in consolidated profit at Rs 82.02 crore for the second quarter ended September 2022, impacted by fall in PVC resin prices. Supreme Industries Limited said in a regulatory filing that the company had posted a net profit of Rs 228.71 crore during the July-September quarter of the previous financial year.
Adani Power: The deadline to complete the ₹7,017-crore deal for acquisition of thermal power assets of DB Power Ltd has been extended by a month till November 30, 2022, Adani Power said in a stock regulatory filing on October 31. Told. A BSE filing said, "The parties to the proposed transaction (Adani Power and DB Power) have mutually agreed to extend the date of long stop as November 30, 2022 or to achieve closure/completion." Is."
Glenmark Pharmaceuticals: Drug firm Glenmark on Monday said its US-based unit has launched fingolimod capsules used to treat multiple sclerosis in the US market. Glenmark Pharmaceuticals Inc., USA has launched the product, a generic version of Novartis Pharmaceuticals Corporation's Gilenya, in the 0.5 mg strength. The firm's current portfolio includes 176 products authorized for distribution in the US market, the world's largest market for pharmaceutical products.
Shriram Properties: Realty firm Shriram Properties Ltd and ASK Property Fund have agreed to set up an investment platform of Rs 500 crore for acquisition of housing projects. Both the companies have signed a Memorandum of Understanding (MoU) to set up an investment platform for acquisition of residential real estate projects. Under the platform arrangement, Shriram and ASK will co-invest in plots and residential development projects in Bengaluru, Chennai and Hyderabad.
TCI Express: Logistics firm TCI Express on Monday reported a nearly 12% rise in profit after tax (PAT) to ₹38 crore in the September quarter on account of higher earnings. TCI Express said in a BSE filing that the company's PAT stood at Rs 34 crore in the corresponding quarter of the previous financial year. Its total income during July-September 2022 rose to ₹312 crore from ₹275 crore in the year-ago period.
Capri Global: Life Insurance Corporation of India (LIC) has increased its stake in Capri Global Capital by 2 points over the last few months at an investment of ₹257.37 crore. LIC in a regulatory filing on Monday said that its stake in Capri Global has increased from 1,24,00,000 to 1,59,51,171 equity shares, thereby increasing its holding in the paid-up capital of the company from 7.052% to 9.072% . Capri Global caters to various sectors like MSME, Construction, Finance, Affordable Housing and Indirect Retail Lending segment
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