Stocks to Watch: RIL, IRCTC, Power Grid, IndiGo, Shree Cement, SJVN | Mint
Active Stocks
Fri Feb 23 2024 15:58:13
  1. Tata Steel share price
  2. 145.50 -0.24%
  1. State Bank Of India share price
  2. 759.40 -0.86%
  1. HDFC Bank share price
  2. 1,420.90 0.08%
  1. NTPC share price
  2. 337.70 -0.54%
  1. ITC share price
  2. 411.60 -0.65%
Business News/ Markets / Stock Markets/  Stocks to Watch: RIL, IRCTC, Power Grid, IndiGo, Shree Cement, SJVN
BackBack

Stocks to Watch: RIL, IRCTC, Power Grid, IndiGo, Shree Cement, SJVN

Godrej Industries, BHEL, Oil India, Lupin, Raymond Mazagon Dock, Nazara Technologies, Bata India, and PFC will be among the stocks to watch on Wednesday as they will be declaring their quarterly earnings report

Stocks to Watch for Wednesday (AP Photo/Andy Wong)Premium
Stocks to Watch for Wednesday (AP Photo/Andy Wong)

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

Reliance Industries: Billionaire Mukesh Ambani’s Reliance Industries Ltd. is seeking to raise as much as 200 billion rupees ($2.4 billion) via rupee-denominated bonds, according to filings seen by Bloomberg. The base size of the sale is 100 billion rupees with an option to retain subscriptions worth another 100 billion rupees. The 10-year bonds will be auctioned on Thursday and are rated AAA with a stable outlook by rating companies Crisil and CareEdge.

IRCTC: Indian Railway Catering and Transportation Corporation (IRCTC) reported a rise of 30.4% in net profit at 294.7 crore, compared to 226 crore in the corresponding period last year. The Indian Railways' e-ticketing arm's revenue from operations in the second quarter of the current fiscal stood at 995.3 crore, registering a growth of 23.5%, compared to 805.8 crore in the year-ago period. EBITDA in the quarter came in at 366.5 crore, a growth of 20.2%.

Powergrid: Powergrid Corporation of India posted a consolidated net profit of 3,781.4 crore in the second quarter of fiscal year 2023-24 (Q2FY24), as per the financial results declared by the state-run company on November 7. The net profit was higher by 3.6% as compared to 3,650.3 crore reported in the year-ago period. Sequentially, the net profit was up by 5% as against 3,597.1 crore posted in the first quarter of the current fiscal.

InterGlobe Aviation: IndiGo, India's largest airline, anticipates grounding at least 35 planes in the upcoming March quarter due to a powder metal issue with the Pratt & Whitney engines. This adds to the nearly 40 aircraft already grounded for other engine-related issues. With a fleet of 334 planes at the end of September, the airline is expected to encounter capacity constraints in the March quarter, despite ongoing efforts to address the situation.

Shree Cement: Shree Cements announced its July-September quarter results for fiscal 2023-24 (Q2FY24) on Tuesday and reported a surge of 159% in net profit at 491 crore, compared to 190 crore in the corresponding period last year. The surge in net profit came on the back of strong infrastructure demand which led to better sales amid declining raw material prices. Its total sale volume increased 10 per cent to 8.20 million tonnes, compared to 7.46 million tonnes.

Zydus Lifesciences: Zydus Lifesciences Ltd on Tuesday reported a 53.2% rise in consolidated net profit at 800.7 crore for the second quarter ended September 30, 2023, driven by stable growth across its key businesses. The company had posted a net profit of 522.5 crore for the same period last fiscal. Revenue from operations in the quarter under review stood at 4,368.8 crore as against 4,005.5 crore in the year-ago period.

SJVN: State-owned SJVN Ltd on Tuesday said it has received a letter of intent from Uttarakhand Power Corporation Ltd (UPCL) for the purchase of 200 MW green energy. UPCL intends to purchase 200 MW of power at a tariff of 2.57 per unit from its 1,000 MW Bikaner Solar Project in Rajasthan, SJVN said in a statement. The power generated from the project will be used by government entities, either directly or through discoms.

Apollo Tyres: Apollo Tyres posted a consolidated net profit of 474 crore in the quarter ending September 2023, which is 164% higher as against 179 crore reported in the year-ago period. Sequentially, the net profit increased by 19.5% from 397 crore reported in the quarter ending June 2023. The company's revenue from operations in Q2FY24 came in at 6,280 crore, higher by 5% as compared to 5,956 crore recorded in the year-ago period.

RITES: State-run railway engineering and consulting company RITES Ltd has launched a new vertical to provide consultancy support to companies looking to enter electric, hydrogen or renewable fuel-based mobility operations. The state-run company is also exploring consulting and certification services in Southeast Asia, Africa and Latin America as well as rolling stock export options in neighbouring countries to boost its export revenue.

Trent: Tata Group retail firm Trent Ltd on Tuesday reported a nearly three-fold rise in consolidated net profit to 228.06 crore for the September quarter. The company had posted a consolidated net profit of 78.94 crore in the year-ago quarter, Trent Ltd said in a regulatory filing. Consolidated revenue from operations was at 2,982.42 crore as against 1,952.74 crore in the year-ago period, it added.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 08 Nov 2023, 07:21 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
Switch to the Mint app for fast and personalized news - Get App