Indian equity market ended over 1 per cent higher on Monday, rising for the third straight session amid firm global market trends and fresh foreign fund inflows. Sensex rallied 786.74 points to end at 60,746.59. During the day, it jumped 826.85 points to 60,786.70. Nifty gained 225.40 points or 1.27 per cent to end at 18,012.20.
UltraTech Cement (4.18 per cent) , Mahindra & Mahindra (2.70 per cent), HDFC (2.89 per cent), Sun Pharma (2.75 per cent) and HDFC Bank (2.76 percent) were the top Sensex gainers, rising up to 4.18 per cent. Dr Reddy’s (0.66 per cent), NTPC (0.60 per cent) and IndusInd Bank (0.43 per cent) were the sole Sensex losers.
ALSO READ: UltraTech, M&M, Dr Reddy’s, NTPC among top gainers & losers as market ends higher
Here’s a look at stocks that are likely to remain in news today.
Earnings today: Sun Pharmaceuticals, Adani Ports & SEZ, Tech Mahindra, UPL, Voltas, Varun Beverages, Cholamandalam Investments and Finance, UPL, Macrotech Developers, Max Healthcare Institute, Kansai Nerolac Paints, and LIC Housing Finance are among the companies that will announce their results for September 2022 quarter today.
Tata Steel: The steel firm’s profit fell nearly 90 per cent drop to Rs 1,297 crore for the July-September quarter of 2023-23, due to higher expenses. The company’s net profit stood at Rs 12,547.70 crore in the corresponding period of the previous financial year.
Bharti Airtel: The telecom major reported a 89 per cent year-on-year rise in consolidated net profit for the September quarter to Rs 2,145 crore, as higher revenue per user, more data consumption, and expanded 4G base boosted realisations.
Axis Bank: Bain Capital is likely to sell a 1.24 per cent stake in the private lender worth $410 million (Rs 3,400 crore) through block deals, according to a term sheet issued by the banker JP Morgan. The floor price is fixed at Rs 888 per share, a discount of 2 per cent to Monday’s closing price of Rs 906.
Larsen & Toubro: The engineering and construction firm reported a 26 per cent rise in consolidated net profit after tax (PAT) at Rs 2,819.20 crore for the quarter ended September on the back of higher revenue from operations. The company had posted a a profit of Rs 2,231.33 crore in the year-ago period.
Adani Power: The Adani Group’s power arm said that the timeline for completion of the Rs 7,017-crore deal to buy thermal power assets of DB Power Ltd has been extended by one month till November 30, 2022.
Glenmark Pharamceuticals: The drug firm said its US-based unit has launched Fingolimod capsules, used to treat multiple sclerosis, in the American market.
Saregama India: The music company reported a 36.42 per cent rise in its consolidated net profit to Rs 46.11 crore for the second quarter ended September 30, 2022 against a net profit of Rs 33.80 crore in the July-September quarter last fiscal.
GCHL: The chemical and spinning company’s net profit zoomed 212 per cent to Rs 289 crore compared to Rs. 93 crore in the Q2FY22. Net revenue climbed 73 per cent during Q2FY23 to Rs 1,389 crores as compared to Rs.805 crores in the corresponding quarter previous year.
Supreme Industries: The plastic product maker reported a 64.13 per cent fall in consolidated profit at Rs 82.02 crore in the second quarter ended September 2022 against net profit of Rs 228.71 crore during the July-September quarter of the previous fiscal.
Shriram Properties: The realty firm and ASK Property Fund have agreed to form a Rs 500 crore investment platform to acquire housing projects. Both companies have inked a Memorandum of Understanding (MoU) for setting up the investment platform for acquisition of residential real estate projects.
Capri Global Capital: Life Insurance Corporation of India (LIC) has raised its stake in the NBFC by 2 per cent over the last few months at an investment of Rs 257.37 crore. Its stake in Capri Global has increased from 1,24,00,000 to 1,59,51,171 equity shares, raising its stake from 7.05 per cent to 9.07 per cent in the company.