Stocks to Watch: Adani Ports, TechM, Infosys, Airtel, ONGC, UPL | Whuff News


Here is a list of the top 10 stocks that will be in focus today:

Adani Port: Adani Ports and Special Economic Zone (APSEZ) recorded a 33% year-on-year increase in revenue to 5211 crore in Q2FY23 while EBITDA increased to 31% to 3260 crores. PAT jumped 65% to 1738 crore from the same period of FY22. Quarterly cargo volume jumped 15% on the year to 86.6 million tonnes. For H1 FY23, record cargo volumes resulted in a 24% YoY jump in Port EBITDA, while logistics business EBITDA jumped 57% YoY.

Infosys: Infosys will seek shareholder approval for its proposal 9,300 crore share buyback between November 3 and December 2 through postal ballot, the company said in a regulatory filing. The Infosys board on October 13 had announced a share buyback 9,300 crore through the open market route, with prices not exceeding 1,850 per equity share.

ONGC/Reliance: The Central Government has reduced the windfall tax on crude oil to 9,500 a tonne from 11,000, shows the official notification. The change is effective from November 2, a government notification showed. Tax reduction of over 13%. The windfall tax levied as a special additional excise duty aims to absorb the super profits earned by domestic crude oil producers and is reviewed every two weeks.

Tech Mahindra: The country’s fifth largest IT services exporter Tech Mahindra on Tuesday reported a 4% year-on-year decline in consolidated profit after tax (PAT) to 1,285.4 crore in the second quarter of FY23 (July-September), as higher expenses offset the increase in revenue. The firm has recorded a profit of 1,338.7 crore during the last year. Sequentially, PAT of IT services exporters increased 13.6% from 1,131.6 crore in the April to June quarter.

Bharti Airtel: Bharti Airtel Ltd will keep 5G and 4G tariffs at the same level for another six to nine months, after which it may decide to set 5G tariffs separately, chief executive officer Gopal Vittal said. In a call with investors after the company’s second-quarter earnings on Tuesday, Vittal, however, reiterated the need for existing tariff levels to increase. Countries like the US, Thailand and South Korea that have priced 5G differently from 4G are seeing very little uptake of 5G services, Airtel CEO said.

UPL: UPL on Tuesday said consolidated net profit rose 25.19 percent to 969 crore in the second quarter of FY23 on strong sales, and also announced that founder Rajju Shroff has resigned as CMD. The agrochemical company has recorded a consolidated net profit of 774 crore in the second quarter of the previous year. “Due to the ongoing war between Russia and Ukraine, and sanctions in the region, the Group’s business has been affected to some extent,” the company said in a regulatory filing.

Macrotech developer: Realty firm Macrotech Developers Ltd on Tuesday reported a consolidated net loss of Rs 933 crore for the quarter ended September due to provision made for loans given to its British arm for project development. Macrotech Developers markets its properties under the Lodha brand. Its net profit amounts to 223.36 crore during the past year, according to a regulatory filing.

Housing Finance LIC: The second largest pure play mortgage lender LIC Housing Finance on Tuesday announced a 23 per cent year-on-year growth in net profit on 305 crore for the three months ending September. A subsidiary of the country’s largest insurer LIC said its net interest income for the quarter declined marginally (80 basis points) to 1,163 crore from 1,173 crore, but the management has not given any reason for the same.

Hero MotoCorp: The country’s largest two-wheeler maker Hero MotoCorp on Tuesday reported a 17 percent decline in its total sales at 4,54,582 units last month as against 5,47,970 units in October 2021. In the domestic market, the company’s shipments to dealers stood at 4,42,825 units, down 16 percent of units in the past year. “With the Dussehra and Diwali celebrations — which triggered record retail purchases — occurring in October this year, October delivery sales are not comparable to previous years, when festive days are usually spread throughout October and November,” the coach said. the two wheels.

JK Tires: JK Tire & Industries on Tuesday said consolidated net profit fell 23 percent to 50 crore for the second quarter ended September 30, 2022. The tire maker has reported a net profit of Rs 65 crore during July-September last fiscal. Total income, however, increased to 3,764 crore in the September quarter as compared 2,998 crore during the last year.

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