Stocks in the news: ITC, Maruti, L&T, HCL Tech, Hexaware, Hero MotoCorp, Biocon, NIIT Tech
Results Today: ITC, Maruti Suzuki, Colgate Palmolive, Raymond, PNB Housing Finance, IDFC First, Cummins, Bandhan Bank, Shriram Transport
Hexaware Q3: Consolidated net profit up 21.4% at Rs 183.7 crore versus Rs 151.3 crore, rupee revenue up 13.2% at Rs 1,481.3 crore versus Rs 1,308.3 crore, QoQ
HCL Tech Q2: Net profit up 19.4% at Rs 2,651 crore against Rs 2,220 crore, rupee revenue up 6.7% at Rs 17,528 crore versus Rs 16,425 crore, QoQ.
It has appointed Shikhar Malhotra as a non-executive non-independent director on its board. Currently, Malhotra, who is the son-in-law of HCL founder and Chairman Shiv Nadar, is the executive director and board member of HCL Corporation.
L&T Q2: Net profit up 13.3% at Rs 2,527 crore versus RS 2,230.5 crore, revenue at Rs 35,328.4 crore against Rs 30,678.13 crore, YoY.
Hero MotoCorp Q2: Net profit down 10.4% at Rs 874.8 crore versus Rs 976.3 crore, revenue down 16.7% at Rs 7,570.7 crore versus Rs 9,090.9 crore, YoY.
Torrent Pharma Q2: Net profit up 36.3% at Rs 244 crore versus Rs 179 crore, revenue up 5.9% at Rs 2,005 crore versus Rs 1,894 crore, YoY
Shoppers Stop Q2 net loss at Rs 8.17 crore: Shoppers Stop reported a consolidated net loss of Rs 8.17 crore in the second quarter ended September 30. The company had posted a net profit of Rs 11.84 crore in the corresponding period of the previous financial year, Shoppers Stop said in a BSE filing.
Biocon reported a net profit of Rs 215.7 crore for the quarter ended September 30, 2019. The company had posted a net profit of Rs 354.7 crore for the corresponding period of the previous fiscal, including a one-time gain of Rs 171 crore as company fair valued its investment in US-based Equillium, Biocon said in a BSE filing.
Sadbhav Engineering on October 23 said its subsidiary has received approvals for transfer of stake in seven road projects to lndinfravit. Approvals have given by the National Highways Authority of India (NHAI) for six projects, while the Maharashtra government has given its nod for transfer of another project.
Sadbhav Infrastructure Project Limited (SIPL), a subsidiary of Sadbhav Engineering, in July 2019 had inked a definitive pact with lndinfravit to sell 100 percent
stake in nine operational projects for an enterprise value of Rs 660 crore.
KPIT Tech reported Rs 35.9 crore consolidated net profit for the September quarter this fiscal. The company had posted Rs 30.6 crore net profit in the preceding three-month period. Its revenue from operations was Rs 544 crore for the quarter under review as compared to Rs 505.7 crore in April-June 2019, according to a regulatory filing.
JM Financial reported 18.1 percent fall in its consolidated net profit to Rs 196.68 crore in the second quarter ended September 30. The company's net profit was at Rs 240.20 crore in the year-ago quarter. Total income of the company fell to Rs 851.39 crore during the three months to September this fiscal, as against Rs 975.70 crore in same period of 2018-19, JM Financial said in a regulatory filing.
NIIT Technologies reported a 12.2 per cent increase in consolidated net profit at Rs 119.5 crore in the quarter ended September 30, 2019. The net profit, which excludes the contribution of NTL's GIS business, stood at Rs 106.5 crore in July-September 2018 quarter, NTL said in a regulatory filing.
Jindal Stainless has inked partnership with public sector unit Braithwaite & Co Limited (BCL) to develop stainless steel foot-over and road-over bridges. Under the agreement, Jindal Stainless aims to supply 2 lakh tonnes of stainless steel to the railways, it said in a statement.
SpiceJet announced plans to launch a new airline with the Ras Al Khaimah International Airport as its base as well as set up its first overseas hub in the UAE emirate, according to media reports. Chairman and Managing Director Ajay Singh said at a press conference in Ras Al Khaimah that the carrier is looking to make the emirate its stepping stone into Europe, and has been mulling an international hub as India's airports become more congested.
JSW Steel post a 21.5 percent growth in its consolidated net profit at Rs 2,536 crore in the quarter ended September 2019. The company had posted profit of Rs 2,087 crore in the same quarter last year.
Arvind Fashions on Wednesday reported a consolidated net loss of Rs 45.35 crore in the second quarter ended September 30. The company had posted a consolidated net profit of Rs 7.08 crore in the corresponding period of the previous financial year, Arvind Fashions said in a regulatory filing.
Indian Bank reported a 139 percent year-on-year rise in its September quarter profit at Rs 358.6 crore. The bank also registered improvement in asset quality on a sequential basis. The bottomline growth was driven by higher other income and pre-provision operating profit along with lower provisions. Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.