BackStocks to Watch: Reliance, Nestle India, ACC, L&T Tech, Deepak Fertilisers
Among major companies that will announce quarterly results today are Jubilant Foodworks Ltd, L&T Finance Holdings, Havells India, Reliance Industrial Infrastructure, Shoppers Stop, and Tata Communications
PremiumFollowing are the top 10 stocks that will be in news today:
Reliance Industries: Reliance Retail Ventures has acquired a majority stake in fashion designer Ritu Kumar’s Ritika Pvt. Ltd, reinforcing an emerging trend of corporate houses buying into luxury ethnic wear companies. The size of the deal was not disclosed, but RRVL acquired a little more than 52% of the company.
Nestle India: The food and beverages major reported a 5% growth in net profit at ₹617 crore for the September quarter as compared to ₹587 crore in the year-ago period.
ACC Ltd: The cement maker reported a 23.74% increase in consolidated net profit to ₹450.21 crore for the third quarter ended September. Total revenue from operations of ACC, a subsidiary of Swiss building material major Holcim group (earlier LafargeHolcim), rose 5.98% to ₹3,749 crore.
Larsen & Toubro Technology Services: The company posted a 39% rise in consolidated net profit to ₹230 crore for the September quarter and has raised its dollar revenue growth guidance to 19-20%. Its revenue grew 22.4% to ₹1,607.7 crore.
Bajaj Auto: The two-wheeler major has halted production at Pantnagar, Uttarakhand due to cloudburst and floods in the state. Production stopped as a precautionary measure and should be on track soon, sources told CNBC-TV18.
ICICI Securities: The company reported a 26% jump in profit after tax to ₹351 crore in the three months ended September on account of growth in revenue and improvement in margins. Its revenue rose to ₹857 crore from ₹680 crore a year ago.
NTPC: The company is looking to acquire around 5% in Power Exchange India Ltd (PXIL), promoted by National Stock Exchange of India Ltd (NSE) and National Commodity & Derivatives Exchange Ltd (NCDEX), according to two people aware of the development.
Tata Steel BSL: The company reported over five-fold jump in its consolidated net profit to ₹1,837.03 crore for the September quarter, mainly on account of higher income. Its total income during July-September rose to ₹8,329.68 crore, from ₹5,545.35 crore in the year-ago period.
Deepak Fertilisers And Petrochemicals: The company passed resolutions for raising funds by issuing shares at a floor price of ₹422.48 per share.
HDFC Asset Management Company: Chief financial officer Piyush Surana has resigned from his post with effect from January 31.
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