Larsen and Toubro, Vodafone Idea, NTPC, Indian Oil, and Others

Nifty futures on the Singapore Exchange traded 193.5 points, or 1.08 per cent higher at 18,028, signalling that Dalal Street was headed for a higher start on Monday.

Results Today

Larsen & Toubro, Tata Steel, Bharti Airtel, 3i Infotech, Castrol India, LT Foods, Data Patterns (India), Equitas Small Finance Bank, Fino Payments Bank, GHCL, Motherson Sumi Wiring India, Music Broadcast, Saregama India, Swaraj Engines, Timken India, and VST Tillers Tractors will be in focus ahead of September FY23 quarter earnings (Q2) on 31 October.

Stocks in Focus

Vodafone Idea

Indus Towers has said that the conversion of Vodafone Idea‘s dues into equity by the government is stuck as the stock price of the cash-strapped telecom operator has been trading below the par value of Rs 10. As part of the government’s revival package for the telecom sector in September last year, Vi had availed the option of deferring its spectrum payment and adjusted gross revenue dues for a period of four years. It also opted for the provision wherein the interest component of this deferral worth Rs 16,130 crore gets converted by the government into equity.

Adani Group

The conglomerate will invest over $150 billion across businesses ranging from green energy to data centres to airports and healthcare as it chases the dream to join the elite global club of companies with $1 trillion valuations. The group plans to invest $50-70 billion in green hydrogen business and another $23 billion in green energy over the next 5-10 years. It will invest $7 billion in electricity transmission, $12 billion in transport utility and $5 billion in the road sector.

NTPC

The company has reported a 7.4% year-on-year decline in consolidated profit at Rs 3,417.7 crore for the quarter ended September FY23 impacted by higher fuel cost, finance cost, loss at joint ventures and lower other income. Revenue grew by 36% to Rs 44,175 crore compared to the year-ago period. Average tariff rate at Rs 4.77 per unit for the quarter ended September 2022, up from Rs 3.86 per unit in September 2021.

JSW Energy

Sajjan Jindal-led JSW Energy received board has appointed Parth Jindal as a non-independent director, and has also approved the proposal to raise Rs 2,500 crore through non-convertible debentures. Parth’s appointment, which is subject to shareholders’ approval, is with effect from October 28, 2022. At present, 32-year-old Parth is the managing director of JSW Cement, managing director of JSW Paints, founder of JSW Sports and chairman and co-owner of IPL team Delhi Capitals, the company said in a late evening stock exchange notice on Friday.

Maruti Suzuki India

The country’s largest car maker has announced to recall 9,925 units of Wagon R, Celerio and Ignis manufactured between August 3 and September 1. “It is suspected that there is a possible defect in the rear brake assembly pin, which in a certain case, may break and cause a peculiar noise. There may be a possibility of impact on the brake performance in the long run,” the company said in its BSE filing. For the second quarter of FY23, the company posted a net profit of Rs 2,061.5 crore, 4 times from a PAT of Rs 475.3 crore in the same quarter last year. Net sales jumped by 47.9% to Rs 28,543.5 crore in Q2FY23 against Rs 19,297.8 crore in Q2 of the previous fiscal.

Indian Oil Corporation

The oil marketing company posted standalone loss of Rs 272.35 crore for the quarter ended September FY23, against profit of Rs 6,360 crore in year-ago period and loss of Rs 1,993 crore in previous quarter, despite getting Rs 10,800 crore of LPG subsidy from the government. More than 50% rise in other income helped the company minimise loss for the quarter. Revenue from operations grew by 34.5% YoY to Rs 2.28 lakh crore for the quarter.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Read all the Latest Business News here

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
sekabet - casinomeritroyal.com -

superbetinx.com

- adana eskort - eskort eskişehir - samsun eskort - bursa eskort - eskort mersin -

web tasarım