Stocks in the news: LIC, Adani Power, Nykaa, Zomato and more
India’s stock market closed lower on Thursday, driven by the sale of consumer durables, automotive and banking stocks amid weak global equity trends. Sensex closed down 420 points at 60,613 and Nifty fell 129 points to end at 18,028. Out of 30 Sensex shares, 24 ended in the red.
Here’s a look at the stocks that should stay in the news today.
Gain today: LIC, M&M, Hindalco, Adani Power, ABB India, Info Edge, Zydus Lifesciences, Astral, Alkem Industries, Vedant Fashions, Thermax, Delhivery, Bharat Heavy Electricals and Zee Entertainment are among the companies to announce their results for the September quarter 2022 . today.
Eicher engines: The auto major’s consolidated after-tax profit rose 76% to Rs 657 crore in the September quarter, on the back of buoyant sales in domestic and international markets. The company had reported a net profit of Rs 373 crore for July-September 2021-22.
Adani green energy: The renewable energy player recorded a 49% increase in its consolidated net profit to Rs 149 crore in the second quarter, mainly due to higher revenues. The company’s consolidated net profit was Rs 100 crore in the quarter ended September 30, 2021.
Zomato: The online food delivery platform recorded a reduction in its consolidated net loss to Rs 250.8 crore in the second quarter from a consolidated net loss of Rs 434.9 crore a year ago.
India Bata: The cobbler announced a 47.44% increase in its consolidated net profit to Rs 54.82 crore in the second quarter, helped by an increase in store footfall. The company had recorded a net profit of Rs 37.18 crore in the July-September quarter a year ago.
Activity area : The apparel maker reported a marginal increase in its net profit to Rs 162.12 crore in the second quarter ended September 2022 from a net profit of Rs 160.48 crore in the July-September period a year ago.
The Indian hotel company: The Tata Group hotel company reported a consolidated profit after tax (PAT) of Rs 129.59 crore in the second quarter following growth in travel demand. The company posted a loss of Rs 130.92 crore in the corresponding quarter of the previous fiscal year.
FSN e-commerce companies: Three entities – Lighthouse India Fund III, Mala Gopal Gaonkar and Narotam S Sekhsaria – sold 2,84,34,390 shares of Nykaa’s parent company at an average price of Rs 171.75-Rs 173.70 each, for Rs 491, 35 crore through open market transactions, according to wholesale transaction data available with the NSE and BSE.
Thirty : The retail arm of the Tata Group posted a 41% year-on-year rise in standalone net profit to Rs 193 crore in the September quarter, on the back of robust revenue. Revenue including GST rose 78% to Rs 1,929 crore, the highest on record for a quarter.
Indian Railway Finance Corporation: The loan arm in the Indian Railways Dedicated Market recorded a 14% increase in profit to Rs 1,714 crore in the second quarter ended September 30, 2022 from a profit of Rs 1,501 crore in the same quarter of the previous year.
Power of Trust: The Anil Ambani Group company reported a widening in consolidated net loss to Rs 340.26 crore in the second quarter, mainly due to higher expenses. The company’s consolidated net loss amounted to Rs 133.10 crore in the quarter ended September 30.