Stocks in news: Adani Total Gas, Castrol India, Adani Energy Solutions, JBM Auto and more

Domestic equity market was trading higher on Tuesday. Sensex gained 45 points to 66,573 and Nifty rose 15 points to 19,769.    

Here’s a look at stocks that are likely to remain in news today.  

Adani Green Energy  

Shares of Adani Green Energy Ltd will be in focus today after the Adani group firm reported a 50.93 per cent year-on-year (YoY) jump in net profit at Rs 323 crore for the June quarter compared with Rs 214 crore in the corresponding quarter last year.  

Maruti Suzuki 

India's largest carmaker Maruti Suzuki India Ltd on Monday reported a 145.31 per cent jump in its first quarter profit for financial year 2023-24 (Q1 FY24). The company posted a net profit of Rs 2,485 crore for the that quarter ended on June 30, compared with Rs 1,013 crore last year. Revenue from operations jumped 21.99 per cent to Rs 32,327 crore in Q1 FY24 as against Rs 26,500 crore in the year-ago period. 

Earnings today  

Shares of Adani Total Gas, PVR Inox, Welspun Ent, and Thermax are in focus as these companies will announce their June quarter earnings today. 

Adani Energy Solutions 

Shares of Adani Energy Solutions (erstwhile Adani Transmission Ltd) are in focus today after the Adani group company reported a 5.88 per cent year-on-year (YoY) drop in its June quarter profit. The largest private transmission and distribution company said its consolidated profit came at Rs 175.06 crore for the quarter compared with Rs 185.99 crore in the same quarter last year. 

Castrol India 

Shares of Castrol India will be tracked today after the lubricant manufacturer announced its earnings for the June 2023 quarter and half year. The firm follows a calendar year (January to December) for financial reporting. Castrol India reported a 9.22% rise in consolidated profit to Rs 225 crore for the quarter ended June 2023 against Rs 280 crore in the year ago period. Revenue in the June 2023 quarter climbed to Rs 1334 crore against Rs 1242 crore in the June quarter of 2022. Profit before tax rose 8.92% to Rs 305.01 crore in the June 2023 quarter against Rs 279.73 in the June 2022 quarter. 

PowerGrid 

Power Grid's consolidated net profit fell 5% to Rs 3,597 crore in the first quarter against Rs 3,801 crore in the year-ago period. The company's Board has also recommended issue of bonus shares in the ratio of 1:3. This means, for every three shares investors hold, they will get one additional share. 

EasemyTrip 

The company's Board has approved acquiring 51% stake in Guideline Travels Holidays India, Dook Travels and Tripshope Travel Technologies. 

 

JBM Auto  

JBM Auto reported a net profit of Rs 30 crore for the quarter ended June. Revenue from operations during the quarter stood at Rs 946 crore. 

KEI Industries 

KEI Industries reported a net profit for the June quarter at Rs 121.38 crore, up from Rs 103.76 crore in the same period of fiscal year 2023. Revenue came at  Rs 1,790.90 crore for the first quarter ended June 30, 2023, as compared to Rs 1,568.94 crore a year ago. Sales for the June quarter of fiscal year 2024 stood at Rs 1,782.57 crore as compared to Rs 1,565.41 crore a year ago. 

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Also read: Adani Green Energy shares in focus as Q1 profit jumps 51% to Rs 323 crore