New Delhi: Here are some stocks that are likely to be in focus on Monday:
State Bank of India: The state-owned lender posted a muted 0.9% growth in its net profit due to margin compression, higher loan loss provisions and a fall in other income. The board has approved fundraising of up to ₹25,000 crore via tier-1 and tier-2 bonds in the current fiscal.
Infosys: The IT company said the Directorate General of GST Intelligence (DGGI) has withdrawn tax demand of ₹3,898 crore for the financial year ended March 2018, in a partial relief for India’s second-largest software company.
Ambuja Cement: The Adani Group company has announced plans to invest around ₹1,600 crore in Bihar to establish a cement grinding unit in Warisaliganj, located in the Nawada district. This 6 million tonnes per annum grinding unit marks ACL’s first venture in Bihar.
JK Tyre: The company reported a 37% year-on-year increase in consolidated net profit to ₹211 crore in the first quarter ended June. The company’s total income decreased to ₹3,655 crore for the period under review, down from ₹3,726 crore in the year ago period.
NTPC: India’s largest power generator expects to begin construction of a nuclear power plant in Rajasthan by March along with its joint venture partner Nuclear Power Corp of India Ltd, spending about ₹50,400 crore.
Britannia Industries: The company reported 10.85% rise in consolidated net profit at ₹504.88 crore for the June quarter aided by growth in volume and operating margins. Its revenue from operation rose 6% to ₹4,250.29 crore in the June quarter.
Hindustan Zinc: The Vedanta Ltd company is looking for domestic partners to set up manufacturing plants to make zinc-based batteries in India, senior executives told Mint. The company had earlier announced that it had entered into a strategic partnership with US-based AEsir Technologies to explore zinc-based energy storage solutions and reduce dependency on other critical minerals.
JSW Steel: The company has submitted a notice to surrender a mining lease for a block in Odisha, citing “uneconomic operation”. Jajang iron ore block in Keonjhar, is one of the four iron ore mining leases which were acquired through an auction in 2020.
Titan Company: The company reported a marginal 1% drop in standalone net profit at ₹770 crore in the June quarter, compared to ₹770 crore in the corresponding period last year. The Tata Group company’s revenue from operations in the first quarter rose nearly 9% to ₹11,263 crore.
Delhivery: The logistics company reported net profit of ₹54.35 crore for the April to June quarter against a net loss of ₹89.48 crore in the same quarter the previous year. The firm is set to launch a network of shared dark stores to enable e-commerce firms and direct-to-consumer brands to fulfil faster deliveries.
