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Stocks in news: RJ stocks, LIC, ONGC, Hero MotoCorp and more

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The stock market ended higher on Friday, led by positive global cues. Sensex rose 130 points to 59,462 and Nifty closed 40 points higher at 17,699. Of 30 Sensex stocks, 13 ended in the green. NTPC, Tata Steel and PowerGrid were the top Sensex gainers, rising up to 3.26 per cent. Infosys, Maruti Suzuki and L&T were the top Sensex losers, falling up to 1.56 per cent.

Share Market Live: Sensex, Nifty likely to open higher today

Here’s a look at stocks that are likely to remain in news today.

LIC: The state run insurer has reported a multi-fold jump in net profit at Rs 682.89 crore against Rs 2.94 crore a year ago.On the other hand, the net premium income of LIC increased by 20.35 per cent YoY to Rs 98,351.76 crore. Other income of the insurance behemoth stood at Rs 160.09 crore in Q1FY23 over Rs 145.47 crore in Q1FY22. Transfer of funds from shareholders’ accounts stood at Rs 799.24 crore during the quarter under review.

Jhunjhunwala stocks: Shares of late investor Rakesh Jhunjhunwala will be in focus today. His portfolio comprised 32 stocks. Titan Company is the biggest holding of Jhunjhunwalas. Other major stocks were Star Health And Allied Insurance Company, Metro Brands, Tata Motors and Crisil among others.

Rakesh Jhunjhunwala’s portfolio: Titan Company zoomed 8,100% since big bull’s entry

ONGC: Oil and gas producer logged a tripling of net profit in the June quarter to Rs 15,205.85 crore as it earned record prices before the government slapped a tax on windfall profits arising from a global rally in energy rates.

Max Healthcare Institute: The US private equity major KKR will offload its entire 27 per cent stake in the hospital chain on Monday to raise about Rs 9,000 crore. The company will sell a total of 26.7 crore shares it holds in Max Healthcare, at a price band of Rs 350-361.9 per share, as per the deal terms released on August 15.

Hero MotoCorp: The two-wheeler maker logged a 71 percent year-on-year increase in profit at Rs 625 crore in Q1. Revenue rose 53 percent YoY to Rs 8,393 crore and EBITDA surged 83 percent to Rs 941 crore, compared to the year-ago period.

Zee Entertainment Enterprises: The company logged a 49 percent year-on-year decline in profit at Rs 106.6 crore in Q1 affectd by dismal operating performance and tepid top line growth. Revenue rose 4 percent to Rs 1,846 crore compared to year-ago period with 5.4 per cent on-year increase in advertising revenue and 5 per cent fall in subscription segment.

Apollo Tyres: The tyre maker reported a 49 per cent year-on-year growth in consolidated profit at Rs 190.7 crore for the quarter ended June FY23 on low base. Strong operating income and top line lifted bottomline. Revenue grew 30 percent to Rs 5,942 crore compared to year-ago period.

Dhani Services: The company logged a consolidated loss of Rs 103.91 crore for the quarter ended June FY23, against loss of Rs 192.4 crore in the corresponding period of last fiscal.

Wockhardt: The company logged a consolidated loss of Rs 75 crore for the quarter ended June FY23, against loss of Rs 7 crore in the year-ago period. Revenue declined 31 per cent to Rs 595 crore compared to year-ago period. The corresponding quarter of previous year included revenue and profitability from the UK Vaccines business.

Varroc Engineering: The company reported a loss of Rs 3.88 crore in Q1, narrowing loss from Rs 16.36 crore in the year-ago period, led by strong operating income and top line growth, but impacted by forex loss and loss from joint ventures. Revenue climbed 36 percent to Rs 1,635 crore and EBITDA rose 93 percent to Rs 134.70 crore compared to same period last year.

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