Stocks to watch: Vodafone Idea, SBI Life, Titan, HPCL, Greenply, GAIL India
Shrewd futures on the Singapore Stock Exchange traded 5 points higher at 16,266, indicating a flat start for benchmarks on Thursday.
Here are the main actions to follow during today’s session:
Results today: More than 100 companies, including Adani Power, NCC, GAIL, Tata Chemicals, Cipla, Quess Corp, Indiabulls Housing Finance and Gujarat Gas are expected to release their results.
Vodafone idea: Kumar Mangalam Birla has stepped down as non-executive chairman of Vodafone Idea (Vi) after offering to sell his stake in the debt-ridden telecom company. Himanshu Kapania, a telecommunications industry veteran and Aditya Birla Group candidate for the board of directors, will assume the post of chairman.
In addition, Vodafone Plc, which owns 45% of the shares of Vodafone Idea (Vi), is ready to offer its participation free of charge to Indian banks / financial institutions or to the state-owned company Bharat Sanchar Nigam (BSNL), provided that they are taking on the wireless phone company, banking sources told Business Standard. READ MORE
SBI Life: US private equity fund CA Emerald Investments, a subsidiary of Carlyle Asia Partners, will sell all of its 1.9% stake in SBI Life Insurance Company. The sale of the shares will be launched on Thursday. READ MORE
Titan Company: The jewelry maker reported a net profit of Rs 61 crore for the quarter ended in June, compared to a net loss of Rs 270 crore in the quarter last year. Its first-quarter sales jumped 74.5% year-on-year to 3,249 crore rupees, helped by a weak base in the quarter of last year.
HPCL: Hindustan Petroleum Corporation reported a 36% year-on-year decline in its June quarter net profit after closing one of its two oil refineries for maintenance, reducing the processing of crude oil. Net profit in April-June fell to Rs 1,795 crore from Rs 2,183.83 crore in the same period a year ago and Rs 3,017.96 crore in the previous quarter.
India Shipping Company: The company has approved a plan of arrangement for the “non-core assets” split.
Adani Total Gas: The town gas joint venture between the Adani group and Total Energies of France, reported a tripling of its net profit for the June 2021 quarter to Rs 138 crore, as sales volumes soared. Net profit from April to June 2021 was 199% higher than Rs 46 crore during the same period last year.
Godrej consumer products: Major FMCG announced a 4.75 percent increase in its consolidated net profit to Rs 413.66 crore for the first quarter ended June 2021. The Godrej group company had posted a net profit of Rs 394.88 crore as of during the April-June quarter a year ago.
Zomato: The food delivery platform said it has incorporated a wholly owned subsidiary on behalf of Zomato Payments Pvt Ltd. rules and regulations.
NBCC (India): The state-owned construction company said SBICAP Ventures had agreed to provide 650 crore rupees for the completion of six failed projects of the former Amrapali group in Uttar Pradesh.
Apollo tires: The company posted a consolidated net profit of Rs 128 crore for the first quarter ended June 30. She had reported a net loss of Rs 135 crore during the April-June period of last fiscal year.
Tata Communications: The Tata group company recorded an increase of approximately 15% in its consolidated profit to Rs 296.11 crore in the quarter ended June 2021. The company made a profit of Rs 257.8 crore in the same quarter one year ago.
Greenply Industries: The company announced its foray into the medium density fibreboard business and said it would set up a factory in Vadodara, Gujarat, with capital expenditure (capex) of Rs.548 crore at that time. effect.
India Transport Company: The logistics company reported a consolidated profit after tax (PAT) multiplied by 10 to Rs 47.47 crore for the quarter ended June 30, 2021. The company had posted a consolidated PAT of Rs 4.72 crore as of during the period of last year.
Trusted industries: The company is seeking to double its PET recycling capacity by setting up a factory to manufacture recycled polyester staple fibers in Andhra Pradesh.
Ion exchange (India): Indian Oil Corporation awarded Rs 357.46 crore engineering, procurement, construction and commissioning contract to design and install a turnkey effluent treatment plant for its project of para xylene and purified terephthalic acid complex in Paradip, Orissa.