Domestic equity indices snapped the two-day winning run and settled lower on Thursday amid weak global cues and select bluechip counters including IndusInd Bank, Asian Paints, Kotak Mahindra Bank and HUL. Sensex dropped 187.31 points, or 0.31 per cent, to close at 60,858.43. Nifty50 settled the day at 18,107.85, down 57.50 points or 0.32 per cent.
Here’s a look at stocks that are likely to remain in news today.
The company reported a net profit of Rs 2,505 crore for the December quarter, up 12% over the corresponding period of last year. Net sales rose 16% to Rs 14,986 crore.
Consolidated net profit is expected to rise 12% sequentially to Rs 15,382 crore, but fall 17% YoY. Revenue is likely to increase 17% on year to Rs 2.23 lakh crore, but fall 4% sequentially.
The company will buy US-based Concert Pharmaceuticals for $576 million in cash to gain access to an experimental drug for treating patchy baldness.
The firm reported a 5.6 per cent year-on-year (YoY) consolidated net profit after minority at Rs 1,072.67 crore compared with Rs 1,015.69 crore in the corresponding quarter last year. The paints maker said its consolidated sales for the quarter rose 1.7 per cent to Rs 8,607.50 crore compared with Rs 8,462.15 crore in the same quarter last year.
The bank will report its Q3 earnings today.
The bank reported its highest quarterly net profit of Rs 393 crore, a growth of 30% annually for the December quarter, on improved asset quality and the resultant fall in provisions. The bank said its gross bad loans declined to 1.81% in the quarter from 2.60% a year ago.
Consolidated net profit rose 22% on year and 7.5% sequentially to Rs 304 crore. Revenue rose 21.4% on year and 3% sequentially to Rs 2,049 crore. The company cut its FY23 dollar revenue growth guidance to 15% from 15.5-16.5%.
The company logged a net profit of Rs 57 crore for the quarter ended December. This is nearly 18% growth from the same quarter last year. Revenue rose 29% on year to Rs 366 crore.
The company on Thursday received Rs 92 crore as part of the total consideration of Rs 123 crore from the sale of land and civil structures, excluding plant and machinery in Gujarat to Laxmi Organic Industries Ltd. The company had received Rs 31 crore in October.
: The company has signed an agreement with the Karnataka government for a mining lease for iron ore and manganese ore in Devadari for a period of 50 years by paying Rs 329 crore.
: The multiplex chain operator posted a net profit of Rs 16 crore for the quarter ended December. The firm posted a loss of Rs 10 crore in the year-ago period and a loss of Rs 71 crore in the September quarter. Revenue from operations rose 53% to Rs 940 crore. PVR had reported losses in 10 of the 11 previous quarters on account of lower footfalls due the Covid pandemic.
The board has cleared 1-for-1 bonus share issue, 2-for-1 stock split, and Rs 17 per share interim dividend.
The company has reported a net profit of Rs 2,156 crore, down 20% year-on-year for the December quarter. The company has also declared interim dividend of Rs 13 per share.
The company’s consolidated net loss narrowed to Rs 101 crore from Rs 422 crore a year ago. However, revenue nosedived 73% to Rs 406 crore.
The board of the company will meet today to consider and approve bonus share issue and increase in the authorised capital.
The stock will turn ex-rights today. The company had announced rights issue of 4,63,98,000 shares of face value of Rs 5 each for cash at a price of Rs 5 per rights shares for an amount aggregating to Rs 23.20 crore. Friday has been fixed as the record date for determining the list of shareholders who would be entitled to apply for the rights issue.
The stock will turn ex-stock split today from face value of Rs 10 to shares with face value of Re 1 each.
Also read: Reliance Industries, Bandhan Bank, JSW Steel, HDFC Life, LTI Mindtree: Q3 results previews