December 7, 2022

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Stocks in news: Route Mobile, BHEL, Canara Bank, PNB and more


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Stocks in news: Route Mobile, BHEL, Canara Bank, PNB and more

The Indian equity market is likely to open on a flat note today as SGX Nifty rose 9  points to 17,194. Market ended lower on Thursday amid negative global cues. The monthly derivatives expiry also kept sentiments weak on the Dalal Street.  Sensex ended 581 points lower to 57,276 and Nifty loses 125 points to 17,152. HCL Tech, Tech Mahindra and Dr Reddy’s were the top Sensex losers, falling up to 4.17%. Axis Bank, SBI and Maruti Suzuki were the top Sensex gainers, rising up to 2.81%.

Here’s a look at stocks that are likely to remain in 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 are in focus as the companies will announce their earnings for the December quarter today.

RBL Bank: The lender posted a rise of 6 per cent in standalone net profit at Rs 156 crore for the quarter ended 31 December, 2021. The private lender had posted a net profit of Rs 147 crore in the year-ago period. The bank reported a Net Interest Income (NII) of Rs 1,010 crore, a 10.4 percent quarter-on-quarter rise and an 11 percent year-on-year increase.

Stock Market LIVE: Sensex gains 500 pts, Nifty above 17,200; NTPC jumps 3%

PNB: Punjab National Bank (PNB) reported a two-fold rise in standalone net profit at Rs 1,126.78 crore for the third quarter ended December, 2021 against a net profit of Rs 506.03 crore in the year-ago period. The lender’s net interest income (NII) decline 6.1 per cent to Rs 7,803 crore in the quarter under review as compared to Rs 8,313 crore in the same quarter last fiscal. However, total income during October-December 2021 declined to Rs 22,026.02 crore as against Rs 23,298.53 crore in the year-ago period.

Bharat Heavy Electricals: The state-owned engineering firm reported a consolidated net profit of Rs 27.02 crore in Q3 against a net loss of Rs 217.86 crore for the year-ago period.

Colgate-Palmolive India: The FMCG major reported a 1.6 per cent rise in its net profit to Rs 252.33 crore in Q3 against a net profit of Rs 248.36 crore in the corresponding quarter of the last financial year.

Canara Bank: The state-run lender reported over two-fold jump in its profit after tax at Rs 1,502 crore for the quarter ended December 2021 against net profit of Rs 696 crore in the corresponding quarter of the preceding financial year.

TVS Motor Company: The two wheeler firm said it has bought a 75 per cent stake in Switzerland’s largest e-bike player, Swiss E-Mobility Group AG (SEMG), for $100 million. The acquisition reaffirms the company’s commitment to expanding operations in Europe through a portfolio of premium and technology leading brands.

Laurus Labs: The pharmaceuticals firm said net profit fell 43 per cent to Rs 154.97 crore for the third quarter ended December 31, 2021 against a net profit of Rs 272.85 crore in the October-December period of previous fiscal.

Route Mobile: The enterprise communication services firm reported a 28.33 per cent rise in consolidated profit at Rs 48.27 crore in Q3 against a profit after tax of Rs 37.62 crore in the same period a year ago.

Indus Towers: The telecom infra firm reported a 16 per cent rise in consolidated profit at Rs 1,570.8 crore in Q3 against profit after tax of Rs 1,360 crore for the corresponding period a year ago.

Birlasoft: The part of diversified CK Birla Group reported an 18.2 per cent jump in consolidated net profit to Rs 114 crore for the December 2021 quarter against Rs 96.4 crore profit in the October-December 2020 period.

Dalmia Bharat: The cement maker logged a 59.2 per cent fall in its consolidated net profit to Rs 73 crore in Q3 against a net profit of Rs 179 crore during the corresponding quarter a year ago.

Coforge: The IT firm, formerly known as NIIT Technologies, posted an over 50 per cent rise in consolidated net profit at Rs 183.7 crore for December quarter 2021-22.

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