Stocks to Watch: Adani Gas, Adani Ports, IndusInd Bank, PVR, Bank of Baroda2 min read . Updated: 04 Nov 2020, 08:08 AM IST
- Adani Gas Ltd reported a record net profit in the September quarter as sales returned back to pre-covid levels quicker than anticipated, with the economy reinflating on easing of lockdown restrictions
NEW DELHI : Here’s a list of top ten stocks that may be in news on Wednesday:
Adani Gas: The company reported a record net profit in the September quarter as sales returned back to pre-covid levels quicker than anticipated. Net profit in July-September quarter at ₹136 crore was 13% higher than ₹120 crore profit a year ago. The board of the company has also approved raising USD 400 million (about ₹2,950 crore) in US dollar denominated bonds to fund capital expenditure for the next two years.
Adani Ports and Special Economic Zone: India’s largest private port operator reported a 31.57% increase in its consolidated profit to ₹1,393.69 crore for the second quarter ended on September 30, 2020. Adani Ports and Special Economic Zone Ltd had clocked a consolidated net profit of ₹1,059.20 crore in the corresponding period a year earlier.
IndusInd Bank: Ubs Principal Capital Asia Ltd on Tuesday sold shares of IndusInd Bank worth nearly ₹148 crore through an open market transaction. On BSE, 23 lakh scrips of the private lender were sold at an average price of ₹642.85 apiece. This translated into a total deal value of ₹147.85 crore.
Cholamandalam Financial Holdings: The company reported a 55.5% jump in its consolidated net profit to ₹505.55 crore for the second quarter of the current fiscal. Cholamandalam Financial Holdings had posted a net profit of ₹325.15 crore in the same quarter a year ago. However, the profit was down sequentially from ₹589.46 crore in first quarter ended June 30, 2021.
PVR: Leading multiplex chain operator PVR Ltd reported a consolidated net loss of ₹184.06 crore for the second quarter ended September 30, 2020, as the film exhibition business continued to be impacted by the coronavirus-related restrictions. The company had posted a net profit of ₹47.67 crore in the July-September quarter a year ago.
Bank of Baroda: Public sector lender Bank of Baroda has reversed the increase in charges for cash transactions that were to take effect from 1 November. The announcement came just a day after the bank said it would begin charging customers for basic transactions, including deposits and withdrawals, above certain limits.
IndiGrid: The country's first infrastructure investment trust in the power sector reported over 64% decline in consolidated net profit to ₹85.5 crore for the September 2020 quarter. IndiGrid had registered a consolidated net profit of ₹240.5 crore in the corresponding quarter of the previous financial year.
JMC Projects: Kalpataru Group firm reported a consolidated loss of ₹18.13 crore for September quarter mainly due to lower revenues. In the year-ago period, JMC Projects (India) clocked a profit of ₹14.44 crore.
Kansai Nerolac: The company reported 11.56% fall in consolidated net profit at ₹167.96 crore for the quarter ended September 30. Kansai Nerolac had posted a net profit of ₹189.92 crore in the corresponding quarter a year ago.
Earnings: Adani Enterprises, Adani Green Energy, Happiest Minds, HPCL, Jubilant Life Sciences, Lupin, State Bank of India among others will announce their financial results for the quarter ended 30 September.