Stocks to Watch: Power Finance, Tata Power, Lupin, Raymond, HAL, Bata India | Mint
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Business News/ Markets / Stock Markets/  Stocks to Watch: Power Finance, Tata Power, Lupin, Raymond, HAL, Bata India

Stocks to Watch: Power Finance, Tata Power, Lupin, Raymond, HAL, Bata India

Adani Ports, Apollo Hospitals, Dhanlaxmi Bank, Samvardhan Mothersons, Muthoot Finance, Aurobindo Pharma, Page Industries, and SJVN will be among the stocks to watch on Thursday as they will be declaring their quarterly earnings report

Stocks to Watch for Thursday. Photo: ReutersPremium
Stocks to Watch for Thursday. Photo: Reuters

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

Power Finance Corporation: State-owned Power Finance Corporation (PFC) on Wednesday posted a nearly 27% rise in its consolidated net profit to 6,628.17 crore in the July-September quarter compared to a year ago. The consolidated net profit of the company was 5,229.33 crore in the quarter ended on September 30, 2022, a BSE filing showed. Total income rose to 22,403.69 crore in the quarter from 19,344.39 crore in the same period a year ago.

Tata Power: Tata Power on Wednesday reported an 8.79% year-on-year (YoY) growth in its consolidated net profit for the July-September quarter to 1,017.41 crore. The company had reported a net profit of 935.18 crore in the year-ago period. Revenue for the period under review rose 9% to 15,442 crore. The company attributed its growth in revenue and profits to its “healthy balance sheet, operational excellence, and synergies across all business clusters".

Lupin: Pharmaceutical major Lupin reported a net profit of 490 crore in the second quarter of fiscal year 2023-24 (Q2FY24), which is 277% higher as compared to 130 crore clocked in the year-ago period. Sequentially, the net profit grew by 8% from 452 crore posted in the quarter ended June 2023. The company's total revenue from operations came in at 5,039 crore in the second quarter, higher by 21% YoY.

Raymond: Textile, apparel, and real estate conglomerate Raymond Ltd on Wednesday reported a marginal rise in its net profit to 159.78 crore for the September quarter from 158.86 crore in the previous year. While the profit growth was modest, it came amid a delayed festive and wedding season, which typically contributes significantly to the company's sales. Revenue from operations grew by 4% year-on-year to 2,253.4 crore.

HAL: Hindustan Aeronautics Ltd (HAL) signed a Transfer of Technology (ToT) agreement with CSIR-National Aerospace Laboratories (NAL) on Wednesday, for the manufacturing of BMI Engine Bay Door for the series production of LCA – Tejas Mk1A. Tejas Mk1A is an indigenous 4.5 generation, all-weather and multi-role fighter aircraft for the Indian Air Force. HAL had requested for transfer of technology for the BMI Engine Bay Door, and the ToT agreement has been reached.

Bata India: Bata India reported a decline of 38% in consolidated net profit at 33.9 crore, compared to 54.8 crore in the corresponding period last year. The footwear retail company's revenue from operations in the second quarter of the current fiscal stood at 819 crore, registering a drop of 1.3 per cent, compared to 829.7 crore in the year-ago period. The company's consolidated PBT in the September quarter stood at 46.4 crore, a drop of 35.5%

BHEL: Bharat Heavy Electricals Limited, on Wednesday, reported a net loss of 238 crore in the September quarter of FY 24 against a profit of 12 crore in the year-ago period. The company's revenue decreased by 1.5% at 5,125.3 crore in the September quarter against 5,202.6 crore in September FY24. A look at BHEL's April-June quarter's performance will reveal a 30.8% decline in its net loss from 343,89 crore in the previous quarter.

Titagarh Rail Systems: Engineering company Titagarh Rail Systems Ltd on Wednesday said it plans to raise up to 700 crore through a Qualified Institutions Placement (QIP) and seeks a strategic partner for the shipbuilding, bridges, and defence business. In a regulatory filing, the company said proceeds from the QIP will be used to strengthen the company's position in its core businesses and to fund future growth initiatives.

Oil India: State-run explorer Oil India on Wednesday reported an over 80% drop in second-quarter profit as it set aside 2,363 crore for an ongoing litigation. Profit for the quarter ended Sept. 30 dropped to 325 crore from 1,721 crore a year ago. However, profit before tax from its crude oil segment rose nearly 42%, while its natural gas segment rose over 24%, it said in a statement.

Pidilite: India's Pidilite Industries on Wednesday posted a jump in second-quarter profit on the back of lower costs, and said it would enter the lending business. The Fevicol-maker posted a consolidated net profit of 4.5 billion rupees for the quarter ended Sept. 30, up over 35% from last year. Profit growth was helped by an over 50% decline in prices of vinyl acetate monomer (VAM), a key raw material for adhesives.

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Published: 09 Nov 2023, 07:12 AM IST
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