Stocks in news: RIL, Tata Steel, HFCL, HUL, Fortis Healthcare and more

The domestic equity market closed higher on Friday. Sensex gained 496 points to end the session at 71,683 and Nifty rose 160 points to 21,622.         

Here's a look at stocks to watch out for today 

RBL Bank  

RBL Bank reported a 11 percent year on year rise in net profit of Rs 233 crore for the October-December quarter of the financial year 2023-24. The bank's gross non-performing assets (NPAs) stood at 3.12 percent, 3.61 percent lower compared to the same quarter last year. Net NPAs in Q3 stood at 0.8 percent compared to 1.18 percent last year. 

DCM Financial Services 

The company’s board on January 24 will consider the proposal for voluntary delisting of shares of the company from the Calcutta Stock Exchange Limited (CSE). 

Olectra Greentech 

The company’s board will consider third-quarter financial results on January 27. 

Tata Steel  

Tata Steel has announced the restructuring of its UK operations, which will result in the closure of both blast furnaces at its Port Talbot plant in Wales by the end of the year, Reuters reported. The move is expected to lead to the loss of up to 2,800 jobs.  

RIL  

Reliance Industries Ltd reported a 11 per cent year-on-year (YoY) rise in net profit at Rs 19,641 crore for the December quarter compared with Rs 17,706 crore in the same quarter a year ago. Gross revenue in Q3 rose 3.2 per cent to Rs 2,48,160 crore as against Rs 2,40,532 crore in the year-ago period.  

One 97 Communications 

One 97 Communications Ltd, the parent of fintech firm Paytm, logged a 38% rise in third-quarter revenue, helped by its payments business and strong loan growth in the financial services segment. Consolidated revenue climbed 38% to Rs 2,851 crore for the October-December quarter from Rs 2,062 crore a year earlier. The company’s consolidated net loss narrowed to Rs 220 crore from Rs 392 crore a year ago. 

Jindal Steel  

Jindal Steel & Power has announced the successful commissioning of its state-of-the-art Hot Strip Mill complex at its Angul plant. The first dispatch of the coils took place on January 15, 2024.  

Zee Entertainment  

Zee Entertainment said that the company was not aware of, and cannot comment on, any board meeting held or proposed to be held by Culver Max Entertainment Private Limited (formerly Sony Pictures Networks India Private Limited), given that these are internal matters of Sony. 

It is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger and is engaging in good faith negotiations with Sony with a view to discuss the extension of the date required to make the (merger) scheme effective, by a reasonable period of time, it said in a filing to stock exchanges.  

Finolex Industries  

Agri-focused pipes maker Finolex Industries logged nearly 24 per cent rise in net profit to Rs 89.21 crore in Q3 despite a fall in income from operations. Revenue declined 9.3 per cent to Rs 1,019.69 crore in Q3.  

CESC  

Power utility CESC reported a 10% fall in consolidated net profit to Rs 301 crore in the December quarter, mainly due to higher expenses. Consolidated net profit was Rs 336 crore in the quarter ended December 2022. 

Atul   

Chemicals company Atul Ltd reported a 32.5 percent fall in net profit of Rs 70.94 crore for the quarter ended December 2023 from Rs 105.10 crore a year ago.  

Fortis Healthcare  

Fortis Healthcare said Diagnostics Limited (Agilus), a material subsidiary of the company has received a notice on January 18, 2024 from the Anti-Corruption Branch, Government of National Capital Territory of Delhi in respect of alleged anomalies in diagnostics test conducted in Aam Aadmi Mohalla Clinic etc., wherein they have sought certain documents and information from Agilus as detailed in the said notice. 

HFCL  

HFCL Limited (HFCL), India's leading technology enterprise and integrated next-gen communications product and solution provider, has won a purchase order of Rs 623 crore for the supply of indigenously manufactured 5G networking equipment. This is the first such large order for 5G networking equipment placed on any Indian company by any telecom service provider.  

 

 

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