Stocks in news: Tata Power, Nazara Technologies, Mazagon Dock, Oil India and more
Stocks to watch out for today: Oil India, United Spirits, Nazara Technologies, Mazagon Dock, Prestige Estates, Tata Power and more
- Nov 9, 2023,
- Updated Nov 9, 2023 8:11 AM IST
The domestic equity market closed higher on Wednesday. Sensex rose 33 points to end the session at 64,975and Nifty gained 37 points to settle at 19,443.
Here’s a look at stocks that are likely to remain in news today.
Tata Power
Tata Power recorded a growth in its profit for the 16th consecutive quarter in the September 2022 quarter. Consolidated PAT in Q2 rose 9 per cent to Rs 1,017 crore on a year-on-year (YoY) basis. Revenue also rose by 9 per cent to Rs 15,442 crore, YoY, largely driven by higher revenue from core businesses of generation, transmission and distribution.
Prestige Estates
Real estate firm Prestige Estates Projects reported a six-fold rise in its consolidated net profit to Rs 850.9 crore in the second quarter on higher income. Net profit stood at Rs 140.7 crore in the year-ago period.
Total income rose to Rs 3,256 crore in the July-September quarter from Rs 1,474.7 crore in the corresponding period of the previous year.
Mazagon Dock
The board of Mazagon Dock Shipbuilders has approved an interim dividend of Rs 15.34 per share for its shareholders. The dividend will lead to a total payout of Rs 309.39 crore which will be paid from the company's profit. This is the highest ever dividend that Mazagon Dock has declared as a public company. Its previous highest dividend was Rs 9.1 that was declared in November 2022.
Nazara Technologies
Online gaming and sports company Nazara Technologies reported a 53% rise in consolidated net profit to Rs 24.2 crore in Q2. Revenue from operations climbed 13% year-on-year to Rs 297.2 crore in July-September.
United Spirits
United Spirits reported a consolidated net profit of Rs 339.3 crore in Q2 of this fiscal, logging a decline of 38.05% from Rs 547.7 crore a year back. Profit was hurt by lower revenue from sales.
Oil India
Oil India Limited (OIL) logged a decline of 70 percent in consolidated net profit to Rs 640 crore in the second quarter of financial year 2023-24. The oil producer had posted a net profit of Rs 2,116 crore in the corresponding quarter last year. Revenue from operations in Q2 fell 13% to Rs 8,816 crore from Rs 10,121 crore last year.
Also read: Stock recommendations for November 9, 2023: ONGC, Titan, Chambal Fertilisers and HUDCO
Also read: Religare Enterprises shares in focus amid report of fraud allegations against Burmans
The domestic equity market closed higher on Wednesday. Sensex rose 33 points to end the session at 64,975and Nifty gained 37 points to settle at 19,443.
Here’s a look at stocks that are likely to remain in news today.
Tata Power
Tata Power recorded a growth in its profit for the 16th consecutive quarter in the September 2022 quarter. Consolidated PAT in Q2 rose 9 per cent to Rs 1,017 crore on a year-on-year (YoY) basis. Revenue also rose by 9 per cent to Rs 15,442 crore, YoY, largely driven by higher revenue from core businesses of generation, transmission and distribution.
Prestige Estates
Real estate firm Prestige Estates Projects reported a six-fold rise in its consolidated net profit to Rs 850.9 crore in the second quarter on higher income. Net profit stood at Rs 140.7 crore in the year-ago period.
Total income rose to Rs 3,256 crore in the July-September quarter from Rs 1,474.7 crore in the corresponding period of the previous year.
Mazagon Dock
The board of Mazagon Dock Shipbuilders has approved an interim dividend of Rs 15.34 per share for its shareholders. The dividend will lead to a total payout of Rs 309.39 crore which will be paid from the company's profit. This is the highest ever dividend that Mazagon Dock has declared as a public company. Its previous highest dividend was Rs 9.1 that was declared in November 2022.
Nazara Technologies
Online gaming and sports company Nazara Technologies reported a 53% rise in consolidated net profit to Rs 24.2 crore in Q2. Revenue from operations climbed 13% year-on-year to Rs 297.2 crore in July-September.
United Spirits
United Spirits reported a consolidated net profit of Rs 339.3 crore in Q2 of this fiscal, logging a decline of 38.05% from Rs 547.7 crore a year back. Profit was hurt by lower revenue from sales.
Oil India
Oil India Limited (OIL) logged a decline of 70 percent in consolidated net profit to Rs 640 crore in the second quarter of financial year 2023-24. The oil producer had posted a net profit of Rs 2,116 crore in the corresponding quarter last year. Revenue from operations in Q2 fell 13% to Rs 8,816 crore from Rs 10,121 crore last year.
Also read: Stock recommendations for November 9, 2023: ONGC, Titan, Chambal Fertilisers and HUDCO
Also read: Religare Enterprises shares in focus amid report of fraud allegations against Burmans