Stocks in news: Adani Enterprises, RailTel, Indian Hotels, SBI Card and more

Benchmark indices ended in the red on Thursday. Sensex dropped 440.38 points, 0.66 per cent to 66,266.82, while Nifty50 tanked 118.40 points to close at 19,659.90.  

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

Adani Enterprises 

Adani Enterprises arm Adani New Industries has raised a trade finance facility of $394 million (Rs 3,231 crore) from Barclays and Deutsche Bank. 

Bharat Electronics 

Bharat Electronics has reported a 23% rise in net profit to Rs 531 crore for the quarter ended June against Rs 431.49 crore in the corresponding period last year. In the first quarter, the total revenue stood at Rs 3,510.8, rising 12.8% as against Rs 3,112.8 crore in the corresponding period of the preceding fiscal. 

RailTel 

RailTel reported a net profit of Rs 38.4 crore for the first quarter. Revenue stood at Rs 468 crore vs Rs 196.35 crore for the last quarter of March 31, 2023. 

Shyam Metalics 

Shyam Metalics' net profit fell 43% YoY to Rs 237 crore, while revenues rose 3% to Rs 3,307 crore. 

Greenlam Industries 

Greenlam Industries net profit for the April-June period came in at Rs 33 crore in Q1 against 24.7 crore profit in the Jun 2022 quarter. Revenue from operations came at Rs 515 crore against Rs 473 crore in Q1 of last fiscal. 

Indian Hotels 

Indian Hotels' net profit rose 31% to Rs 222 crore in the June quarter in comparison to Rs 170.1 crore in the same quarter last year. The revenue for the company also showed growth, rising by 16 per cent to Rs 1,466.4 crore compared to Rs 1,2661.1 crore in the previous year., while revenues jumped 16% to Rs 1,466 crore.  Indian Hotel’s EBITDA for the quarter was also up 8.5 per cent at Rs 410.2 crore against the Rs 377.9 crore in the same quarter last year. 

Trident 

Trident reported a 29% decrease in its first-quarter profit amid weak demand in its key yarn segment. The standalone profit after tax (PAT) stood at Rs 90.3 crore from Rs 123.8 crore year-on-year (YoY). Compared to the last quarter, profit has slipped 22 per cent from Rs 116.4 crore. 

 

Earnings Today 

Shares of IOC, SBI Card, Marico and Mahindra Finance are in focus as the companies will announce their June quarter earnings today. 

 

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