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Stocks in news: Devyani International, Vodafone Idea, ONGC, Glenmark Pharma and more

Stocks in news: Devyani International, Vodafone Idea, ONGC, Glenmark Pharma and more

On August 13, the equity benchmark Sensex rallied 593 points to end above the 55,000-mark for the first time and Nifty advanced 164 points or 1.01 per cent to its fresh closing peak of 16,529.

Stocks in news: Devyani International, Vodafone Idea, ONGC, Glenmark Pharma and more Stocks in news: Devyani International, Vodafone Idea, ONGC, Glenmark Pharma and more

Indian benchmark indices are likely to open lower today as SGX Nifty fell 50 points to 16,478.

On August 13, the equity benchmark Sensex rallied 593 points to end above the 55,000-mark for the first time and Nifty advanced 164 points or 1.01 per cent to its fresh closing peak of 16,529. The 30-share index rose 593 points or 1.08 per cent to its new all-time high of 55,437. It touched an record high of 55,487 intra day.

Here's a look at stocks, which are likely to remain in news today.

Devyani International: The company will list its equity shares on the bourses today. It is the largest franchisee of Yum Brands, operating core brands such as Pizza Hut, KFC, Costa Coffee besides its own brands such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli and Ckrussh Juice Bar.

ONGC: State-owned Oil and Natural Gas Corp (ONGC) net profit soared by nearly 800 % in the first quarter of the current fiscal after more than doubling of oil prices compensated for a fall in production.

Net profit in April-June at Rs 4,335 crore was 772.2 % higher than Rs 497 crore in Q1 of previous fiscal when demand as well as price had plummeted due to coronavirus-related lockdown, the company said in a statement.

Vodafone Idea: The company reported a consolidated net loss of Rs 7,319.1 crore during April-June quarter as against a loss of Rs 25,460 crore in the year-ago quarter. The company had reported a net loss of Rs 7,022.8 crore in the preceding March quarter.

The cash-strapped telecom operator's revenue from operations declined to Rs 9,152.3 crore during the quarter from Rs 10,659.3 crore a year ago and Rs 9,607.6 crore in the March quarter. The company attributed the decline in revenue to lockdown and restrictions in most of the districts during the severe second wave of COVID-19.

Spicejet: The company posted a net loss of Rs 729 crore during the April-June quarter of the current fiscal year, compared to a net loss of Rs 593 crore in the same quarter of the previous fiscal.

The airline's flight operations were severely impacted during the quarter under review due to the second wave of the COVID-19 pandemic. The firm's total revenue for the June-end quarter stood at Rs 1,266 crore against Rs 705 crore during the same quarter of the previous year. Operating expenses were Rs 1,995 crore in Q1 of FY22 as against Rs 1,298 crore during the April-June quarter of FY21.

Godrej Industries: GIL announced on Friday that Adi Godrej will step down as Chairman as well as from the board. He will continue to serve as Chairman of the Godrej Group and Chairman Emeritus of GIL.

Nadir Godrej who is currently serving as the Managing Director will take over as Chairman and Managing Director of the company. The changes to the board will be effective from October 1.

Bharti Airtel: Bharti Airtel on Friday concluded its trading deal to sell 800 MHz airwaves in three circles to Reliance Jio Infocomm.

This marks the closure of the first ever such deal between the two archrivals. Airtel, in a regulatory filing to the stock exchanges, announced "the closure of its agreement with Reliance Jio Infocomm ("Jio") to transfer the 'Right to Use' of Airtel's 800 MHz spectrum in three circles to Jio."

Future Retail: Future Retail Ltd (FRL) on Saturday reported widening of its consolidated net loss at Rs 1,147.28 crore for June quarter 2021-22, impacted by the second wave of the pandemic. The company had posted a net loss of Rs 552.91 crore for April-June period a year ago, FRL said in a BSE filing.

Glenmark Pharma: The company posted a net profit of Rs 306 crore for the first quarter ended June 30. The Mumbai-based drug major had reported a PAT of Rs 254 crore in the April-June quarter of the 2020-21 fiscal.

The company's consolidated revenue rose to Rs 2,965 crore from Rs 2,345 crore in the Q1 of last fiscal.

Published on: Aug 16, 2021, 8:53 AM IST
Posted by: Tanya Aneja, Aug 16, 2021, 8:49 AM IST