Stocks in news: ITC, Titan, L&T, Adani Ports, United Spirits, PNB and more
Sensex tumbled 207 points on Wednesday, weighed by losses in Axis Bank, Reliance Industries and Bajaj Finance amid a weak trend in global markets.
- Oct 28, 2021,
- Updated Oct 28, 2021 9:24 AM IST
Indian benchmark indices are likely to open lower amid weak global cues.
Sensex tumbled 207 points on Wednesday, weighed by losses in Axis Bank, Reliance Industries and Bajaj Finance amid a weak trend in global markets.
Sensex closed 206.93 points lower at 61,143.33 and Nifty fell 57.45 points to 18,210.95.
Here are the stocks that are likely to be in focus today.
ITC: The company reported a 13.7 per cent year-on-year (YoY) rise in net profit for July-September quarter at Rs 3,697 crore on the back of a strong pick up across all operating segments after severe disruptions in the preceding June quarter. The company's net revenue grew 11.2 per cent to Rs 12,543 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 12.9 per cent to Rs 4,615 crore.
Larsen & Toubro: L&T posted a consolidated net profit of Rs 1,723 crore in Q2 FY22, recording a growth of 56 per cent over the corresponding quarter of the previous year.
The engineering and construction behemoth said the growth is mainly driven by higher profits in the IT & TS portfolio and improved margins from the projects and manufacturing portfolio as the Covid-19 pandemic induced stress in previous periods progressively wanes out.
L&T's revenue for July-September quarter stood at Rs 34,773 crore, registering a year-on-year (YoY) growth of 12 per cent. The company attributed the revenue increase to project execution momentum, with the easing of regional lockdowns on progressive vaccination coverage and growth in its IT&TS portfolio.
Adani Ports: The company said it was abandoning plans to build a container terminal in Myanmar, weeks after applying for a U.S. licence for the project, saying it believed it did not violate sanctions.
Titan Company: Titan Ltd reported a 222 per cent year-on-year (YoY) rise in its net profit at Rs 641 crore for July-September quarter on the back of a strong recovery in its consumer business. The company's revenue from sales of product and services grew 78 per cent YoY to Rs 6,921 crore during the quarter under review, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 175 per cent to Rs 1,004 crore.
United Spirits Ltd (USL): The company reported a 113% rise in its standalone net profit to Rs 273.4 crore in Q2 FY22 from Rs 128.4 crore in Q2 FY21. USL's PAT margin stood 11.2% in the said period.
Net sales jumped 14% year-on-year (YoY) to Rs 2,447 crore in Q2 FY22, reflecting a strong quarter.
Arvind Ltd: Leading textile manufacturer Arvind Ltd on Wednesday reported a consolidated net profit of Rs 71.06 crore for the second quarter ended September 2021, helped by volume growth across segments.
The company had posted a net loss of Rs 5.86 crore during the corresponding quarter of the previous financial year, Arvind said in a regulatory filing.
Its revenue from operations during July-September 2021 stood at Rs 2,115.14 crore, a jump of 62.05 per cent as against Rs 1,305.17 crore in the year-ago period.
Future Retail: Future Retail has asked a Delhi court to quash a decision by a Singapore arbitration panel that has kept the $3.4 billion sale of Future's retail assets in limbo while the panel hears objections from Amazon.com Inc.
Deepak Nitrite: The company reported consolidated profit of Rs 254.34 crore in Q2FY22 against Rs 170.19 crore in Q2FY21, revenue jumped to Rs 1,681.35 crore from Rs 987.34 crore YoY.
PNB: State-owned Punjab National Bank (PNB) reported a 78 per cent increase in net profit at Rs 1,105 crore for the second quarter ended September 30.
The country's second-largest lender had posted a net profit of Rs 620.81 crore during the corresponding quarter a year ago.
Indian benchmark indices are likely to open lower amid weak global cues.
Sensex tumbled 207 points on Wednesday, weighed by losses in Axis Bank, Reliance Industries and Bajaj Finance amid a weak trend in global markets.
Sensex closed 206.93 points lower at 61,143.33 and Nifty fell 57.45 points to 18,210.95.
Here are the stocks that are likely to be in focus today.
ITC: The company reported a 13.7 per cent year-on-year (YoY) rise in net profit for July-September quarter at Rs 3,697 crore on the back of a strong pick up across all operating segments after severe disruptions in the preceding June quarter. The company's net revenue grew 11.2 per cent to Rs 12,543 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 12.9 per cent to Rs 4,615 crore.
Larsen & Toubro: L&T posted a consolidated net profit of Rs 1,723 crore in Q2 FY22, recording a growth of 56 per cent over the corresponding quarter of the previous year.
The engineering and construction behemoth said the growth is mainly driven by higher profits in the IT & TS portfolio and improved margins from the projects and manufacturing portfolio as the Covid-19 pandemic induced stress in previous periods progressively wanes out.
L&T's revenue for July-September quarter stood at Rs 34,773 crore, registering a year-on-year (YoY) growth of 12 per cent. The company attributed the revenue increase to project execution momentum, with the easing of regional lockdowns on progressive vaccination coverage and growth in its IT&TS portfolio.
Adani Ports: The company said it was abandoning plans to build a container terminal in Myanmar, weeks after applying for a U.S. licence for the project, saying it believed it did not violate sanctions.
Titan Company: Titan Ltd reported a 222 per cent year-on-year (YoY) rise in its net profit at Rs 641 crore for July-September quarter on the back of a strong recovery in its consumer business. The company's revenue from sales of product and services grew 78 per cent YoY to Rs 6,921 crore during the quarter under review, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 175 per cent to Rs 1,004 crore.
United Spirits Ltd (USL): The company reported a 113% rise in its standalone net profit to Rs 273.4 crore in Q2 FY22 from Rs 128.4 crore in Q2 FY21. USL's PAT margin stood 11.2% in the said period.
Net sales jumped 14% year-on-year (YoY) to Rs 2,447 crore in Q2 FY22, reflecting a strong quarter.
Arvind Ltd: Leading textile manufacturer Arvind Ltd on Wednesday reported a consolidated net profit of Rs 71.06 crore for the second quarter ended September 2021, helped by volume growth across segments.
The company had posted a net loss of Rs 5.86 crore during the corresponding quarter of the previous financial year, Arvind said in a regulatory filing.
Its revenue from operations during July-September 2021 stood at Rs 2,115.14 crore, a jump of 62.05 per cent as against Rs 1,305.17 crore in the year-ago period.
Future Retail: Future Retail has asked a Delhi court to quash a decision by a Singapore arbitration panel that has kept the $3.4 billion sale of Future's retail assets in limbo while the panel hears objections from Amazon.com Inc.
Deepak Nitrite: The company reported consolidated profit of Rs 254.34 crore in Q2FY22 against Rs 170.19 crore in Q2FY21, revenue jumped to Rs 1,681.35 crore from Rs 987.34 crore YoY.
PNB: State-owned Punjab National Bank (PNB) reported a 78 per cent increase in net profit at Rs 1,105 crore for the second quarter ended September 30.
The country's second-largest lender had posted a net profit of Rs 620.81 crore during the corresponding quarter a year ago.