Stocks to Watch: Adani Ports, Dabur, L&T Infotech, ACC, Tata Elxsi
2 min read 15 Jul 2022, 07:41 AM ISTJindal Steel & Power, Federal Bank, Aditya Birla Money, Den Networks, Just Dial, L&T Technology Services, Oberoi Realty, and Opto Circuits will be in focus as they declare their June quarter earnings today
PremiumHere is the list of top 10 stocks that will be in focus today
Adani Ports: Israel said on Thursday it will sell Haifa Port, a major trade hub on its Mediterranean coast, to winning bidders Adani Ports of India and local chemicals and logistics group Gadot for 4.1 billion shekels ($1.18 billion). Adani will have a majority 70% stake and Gadot will hold the remaining 30%, according to an industry official.
Dabur India: Fast moving consumer goods company's consolidated revenue crossed ₹10,000 crore mark for the first time with an annual growth of 13.9%, the company said in its annual report for the year 2021-2022. "This surge in growth is despite accelerating inflationary pressure in the last quarter and demonstrates Dabur’s remarkable resilience and agility," said vice chairman Mohit Burman.
L&T Infotech: The IT firm has reported a net profit of ₹634.40 crore for the first quarter of the current financial year, up 27.7% year-on-year. The company's revenue from operation surged by 30.6% year-on-year to ₹4,522.8 crore in the quarter. On a quarter-on-quarter basis, the company's revenue rose by 5.1%, while net profit fell 0.5%.
Tata Elxsi: The technology service company reported a revenue of Rs. 725.9 crore of revenue from operations, a growth of 6.5% quarter on quarter and 30.0% year on year. The Ebitda for the quarter grew 7.6% compared to the previous quarter to 238.2 crore. Profit after tax stood at Rs. 184.7 crore which is a year-on-year rise of 62.9 crore.
ACC: The cement maker reported a 60% decline in consolidated net profit at ₹227.35 crore in June 2022 quarter due to rise in fuel costs and related inflationary impacts. The company, which follows January-December financial year, posted a profit of ₹569.45 crore in April-June, Revenue from operations during the quarter under review was at ₹4,468.42 crore, up 15.01%.
Life Insurance Corporation The insurance behemoth on Thursday said its embedded value stood at ₹5,41,492 crore at the end of March this year compared to ₹95,605 crore in the year-ago period. At the end of September 2021, the value stood at ₹5,39,686 crore.
Syngene International: The Biocon arm has signed a 10-year agreement with animal health company, Zoetis, to manufacture the drug substance for Librela which is used for treating osteoarthritis in dogs. This agreement paves the way for development and manufacturing of other molecules in the coming years and is expected to be worth up to $500 million to Syngene in over 10 years.
Bharat Heavy Electricals: The state-run engineering firm said it has successfully commissioned 100-MW floating solar photovoltaic plant at NTPC Ramagundam in Telangana. The plant is installed across the natural raw water reservoir, saving valuable land resources, and also conserves water by reducing evaporation.
Vedanta: The board of directors of the company will on July 19, consider and approve second interim dividend on shares for FY2022-23. The record date for the purpose of determining the entitlement of the equity shareholders for the dividend is being fixed as July 27.
Tata Steel Long Products: The company posted a net loss of ₹331.09 crore in the June quarter, mainly on account of higher expenses. Its total income, however, rose to ₹2,154.78 crore from ₹1,726.82 crore in the quarter ended June 2021. The company saw its expenses rise to ₹2,489.58 crore from ₹1,282.59 crore in the same period a year ago.
