Stocks in the news: Route Mobile, BHEL, Canara Bank, PNB and more
The Indian stock market is expected to open on a flat note today as SGX Nifty rose 9 points to 17,194. The market ended lower on Thursday amid negative global indices. The monthly expiration of derivatives also kept sentiment low on Dalal Street. Sensex finished 581 points lower at 57,276 and Nifty is down 125 points at 17,152. HCL Tech, Tech Mahindra and Dr Reddy’s were Sensex’s biggest losers, dropping as much as 4.17%. Axis Bank, SBI and Maruti Suzuki were Sensex’s biggest gainers, rising 2.81%.
Here’s a look at the stocks that should stay in the news today.
earnings today
Shares of Kotak Mahindra Bank, L&T, Vedanta, Kotak Mahindra Bank, Larsen & Toubro, Vedanta, Britannia Industries, Dr Reddy’s Laboratories, Marico, Info Edge, Bharat Electronics, Au Small Finance Bank, United Breweries, Oberoi Realty, Max Financial Services and Atul is in focus as the companies will announce their December quarter results today.
RBL Bank: The lender recorded a 6% increase in its standalone net profit to Rs 156 crore for the quarter ended December 31, 2021. The private lender had recorded a net profit of Rs 147 crore in the prior year period. The bank reported net interest income (NII) of Rs 1,010 crore, an increase of 10.4% quarter-on-quarter and an increase of 11% year-on-year.
Stock market LIVE: Sensex gains 500 pts, Nifty above 17,200; NTPC jumps 3%
GNP: The Punjab National Bank (PNB) has announced a double increase in its standalone net profit to Rs 1126.78 crore for the third quarter ended December 2021 from a net profit of Rs 506.03 crore a year ago. The lender’s net interest income (NII) fell by 6.1% to Rs 7,803 crore in the quarter under review from Rs 8,313 crore in the same quarter last year. However, the total income from October to December 2021 fell to Rs 22,026.02 crore from Rs 23,298.53 crore a year ago.
Bharat heavy electrical appliances: The public engineering company reported a consolidated net profit of Rs 27.02 crore in the third quarter compared to a net loss of Rs 217.86 crore for the period a year ago.
Colgate-Palmolive India: The major FMCG announced a 1.6% increase in its net profit to Rs 252.33 crore in the third quarter against a net profit of Rs 248.36 crore in the corresponding quarter of the previous financial year.
Canara Bank: The state-run lender reported a doubling of its after-tax profit to Rs 1,502 crore for the quarter ended December 2021 from a net profit of Rs 696 crore in the corresponding quarter of the previous financial year.
TVS Motor Company: The two-wheeler company said it bought a 75% stake in Switzerland’s biggest e-bike player, Swiss E-Mobility Group AG (SEMG), for $100 million. The acquisition reaffirms the company’s commitment to expanding its business in Europe through a portfolio of premium and technology brands.
Laurus Laboratories: The pharmaceutical company said net profit fell by 43% to Rs 154.97 crore for the third quarter ended December 31, 2021 from net profit of Rs 272.85 crore in the October-December period. Previous exercice.
Mobile route: The business communication services company reported a 28.33% increase in its consolidated profit to Rs 48.27 crore in the third quarter from an after-tax profit of Rs 37.62 crore in the same period a year ago. year.
Indus Towers: The telecom infrastructure company reported a 16% increase in its consolidated profit to Rs 1,570.8 crore in the third quarter from an after-tax profit of Rs 1,360 crore for the corresponding period a year ago.
Birlasoft: The part of the diversified CK Birla Group recorded an 18.2% increase in consolidated net profit to Rs 114 crore for the December 2021 quarter from a profit of Rs 96.4 crore for the October-December 2020 period.
Dalmia Bharat: The cement maker recorded a 59.2% drop in its consolidated net profit to Rs 73 crore in the third quarter from a net profit of Rs 179 crore in the corresponding quarter a year ago.
Coforged: The IT company, formerly known as NIIT Technologies, reported an increase of more than 50% in consolidated net profit to Rs 183.7 crore for the December 2021-22 quarter.
