Shares of ITC Hotels, India Mart Intermesh, AU Small Finance Bank, Rallis India and SRF will be in news today as these companies will release their third quarter results today. Apart from these, there are 10 such stocks including Adani Power, UPL, HPCL, which will be in focus today due to various news.
Big win for Adani Power
Adani Power has got a big victory from NCLAT of Delhi. The tribunal has dismissed appeals challenging its Rs 4,000 crore resolution plan for Vidarbha Industries Power Ltd. This strengthens the approval given by the NCLT Mumbai Bench.
LTIMindTree results mixed
The company has presented mixed results in the third quarter. Due to the one-time impact of the implementation of the new labor code, net profit stood at Rs 959.6 crore, a decline of 30.5% quarter-on-quarter and well below estimates of Rs 1,417 crore.
Strong performance by Tata Capital
The company has reported a quarter-on-quarter increase of 19.7% in net profit at Rs 790 crore in the third quarter. At the same time, net interest income increased by 44% to Rs 2,541 crore.
IPO of UPL subsidiary
The company’s subsidiary, Advanta Enterprises, has submitted a draft red herring prospectus with SEBI for the proposed IPO. This will be a complete offer for sale, in which existing shareholders will sell a total of 3.61 crore equity shares. In this, 2.81 crore shares will be sold by UPL.
HPCL made LNG deal
Hindustan Petroleum Corporation has entered into a 10-year sale-purchase agreement with Abu Dhabi Gas Liquefaction Company, UAE for the supply of liquefied natural gas. This company is a subsidiary of Adnoc Gas.
Deepak Nitrate facility started
The company’s subsidiary, Deepak Chem Tech, has commissioned its nitration facility and second hydrogenation unit at Dahej, Gujarat.
CEAT’s strong performance
The company has performed strongly in the third quarter. Net profit has increased by 60.3% year on year to Rs 155.7 crore. Revenue grew 26% to Rs 4,157 crore, while EBITDA jumped 65.2% and margins expanded to 13.5%.
Havells India’s results mixed
The company has presented mixed results in the third quarter. Net profit stood at Rs 301 crore, which was below estimates, even though it registered a growth of 6.4% year-on-year. Revenue grew 14.2% year-on-year to Rs 5,573 crore, slightly better than market estimates.
ACME Solar’s wind power project started
Renewable energy firm ACME Solar has announced that it has commissioned 68 MW of generation capacity under its 100 MW wind power project in Surendranagar, Gujarat.
