Active Stocks
Tue May 28 2024 15:59:27
  1. Tata Steel share price
  2. 174.85 -0.37%
  1. HDFC Bank share price
  2. 1,530.50 0.17%
  1. ITC share price
  2. 428.90 -0.60%
  1. State Bank Of India share price
  2. 830.90 -0.38%
  1. Infosys share price
  2. 1,466.20 -0.37%
Business News/ Markets / Stock Markets/  Stocks to Watch: Coal India, Adani Ent, Happiest Minds, NTPC, Oberoi Hotels
BackBack

Stocks to Watch: Coal India, Adani Ent, Happiest Minds, NTPC, Oberoi Hotels

Berger Paints, Tata Power, Hinduja Global, Abbott India, SJVN, Bharat Forge, Sula Vineyards, Bata and India are some of the companies that will be in focus today as they will declare their quarterly earnings

Stocks to Watch for Wednesday (iStock)Premium
Stocks to Watch for Wednesday (iStock)

Here are the top 10 stocks that could be in focus in today's trade:

Coal India: Coal India Limited posted a 10% year-on-year decline in net profit which stood at 7,941 crore during the quarter ending June 2023 down from 8,834 crore reported during the corresponding quarter last year. The net sales of the company grew marginally to 33,072.6 crore during the quarter under review from 32,497.9 during Q1FY23. Sequentially, Coal India's net profit jumped 43% from 5527.6 crore during the quarter ending March 2023. The other operating income of Coal India increased 12.1% to 2,910.5 crore from 2,594 crore during the corresponding quarter previous fiscal year.

Adani Enterprises/Adani Wilmar: Adani Enterprises Ltd. is currently investigating the possibility of divesting its interest in the consumer-staple joint venture listed on the Mumbai stock exchange, a collaboration it shares with Wilmar International Ltd. This move aims to release funds that can be directed towards their primary business operations, as per sources familiar with the situation as reported by Moneycontrol. Over the past several months, the conglomerate has been evaluating the potential sale of its 44% stake in Adani Wilmar Ltd.

Happiest Minds: Happiest Minds Technologies on Tuesday reported a net profit of 58.33 crore for the first quarter ended June 30 of fiscal year 2024. The IT company reported net sales at 390.87 crore for the June quarter of fiscal year 2024. Total income stood at 404.53 crore in the first quarter ended June 30 of the fiscal year 2024, said Happiest Minds Technologies in an exchange filing. For the fiscal year 2023, Happiest Minds recorded revenue growth of 23.7% in constant currency terms, even as profit rose 27.5% to 230.99 crore over the year-ago period.

NTPC: NTPC Renewable Energy Limited (NTPC REL) on Tuesday said that it has secured the bid for an 80 MW floating solar project at the Omkareshwar reservoir in Khandwa, Madhya Pradesh. “The bidding was conducted on 8th August 2023 by Rewa Ultra Mega Solar Limited (RUMSL), the JV Company of Solar Energy Corporation of India (SECI) and MP Urja Vikas Nigam Ltd. The discovered tariff is 3.80/kWh and the energy generated from the project shall be used by MP state DISCOMs," the company said in a statement.

Oberoi Hotels: Oberoi Hotels' parent EIH Ltd has posted a 61% jump in its consolidated net profit for the first quarter of the fiscal, while its revenue jumped 26.7%, compared to the year-ago period. The hospitality company posted a profit after tax of 106 crore in the quarter ended 30 June, compared to 69.44 crore in the corresponding quarter of the previous fiscal. Total income from operations was at 522.6 crore, up from 412.33 crore in the first quarter of last year. EIH’s operating profit for the quarter went up by 53.1% to 180 crore in the quarter under review.

Zee Learn: Subhash Chandra’s Essel Group-owned Zee Learn Ltd on Tuesday confirmed signing a settlement agreement with JC Flowers Asset Restructuring Co. (ARC). Zee Learn is among Essel Group companies with a total exposure of 6,500 crore with JC Flowers ARC, which Chandra has been trying to settle. Mint broke this news first on Tuesday that Chandra was close to signing a definitive agreement for close to 1,500 crore to regain ownership of the family’s stake in Dish TV and Zee Learn as well as three properties, which includes a bungalow in central Delhi.

IRCON International: IRCON International reported a rise of 29.6% in net profit at 187 crore, compared to 144.6 crore in the corresponding period last year. The state-run engineering and construction firm's revenue from operations in the first quarter of the current fiscal stood at 2,712.2 crore, reporting a growth of 35.%. IRCON International said that it achieved the highest turnover in Q1FY24. On the operating front, the railway PSU's EBITDA during the June quarter came in at 208.8 crore, reporting a growth of 31.2%, compared to 159 crore in the year-ago period.

Tata Power: Tata Power has joined hands with the Maharashtra government to commission two pumped hydro storage projects (PSP) worth 13,000 crore. The two projects will have a combined capacity of 2,800 megawatts and help the state achieve its goal of becoming a $1 trillion economy by 2028. The two plants will be situated in Shirvata, Pune (1800 MW) and Bhivpuri, Raigad (1000 MW) and will generate employment for over 6,000 people.

Essar Shipping: Essar Shipping Limited reported a turnaround from a loss of 15.7 crore during the Q1FY23 to 26 crore during the quarter ending June 2023. The jump in PAT is calculated to be a whopping 265%. The total revenue of the company jumped 97% year-on-year to 48.4 crore from 24.5 crore reported during the corresponding quarter last fiscal. Sequentially, Essar Shipping Limited's net profit declined multifold as it stood at 363.4 crore during the quarter ending March 2023. The quarter-on-quarter revenue however jumped 77%.

Oil India: Oil India Ltd on Tuesday reported a 4 per cent rise in net profit in the June quarter on the back of higher production, which offset a reduction in price. The company registered a net profit of 1,613.34 crore in the first quarter of the current fiscal compared with 1,555.49 crore a year ago, the company said in a statement. "The growth comes on the strength of a 5.3 per cent growth in its crude oil production to 0.820 million tonnes in Q1 of FY24 vis-à-vis 0.729 million tonnes produced in Q1 of the last FY, coupled with lower operating costs," it said.

 

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 09 Aug 2023, 07:26 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started