Here’s a look at stocks that are likely to remain in news today.
IndusInd Bank: The lender will report its earnings for the December quarter today. The bank is expected to report strong growth in income on the back of a steady rise in loan book, but analysts’ view on the margin performance remains mixed.
ITC: The company inked an agreement to buy direct-to-consumer (D2C) start-up Sproutlife Foods Pvt Ltd that owns ‘Yoga Bar’ with the aim to strengthen its presence in the fast-growing nutrition health foods space. It will buy out the firm in tranches over 3-4 years. It will own a 47.5% stake by March 2025.
ICICI Prudential Life Insurance Co: The company logged a 29% year-on-year (YoY) decline in net profit for the quarter ended December to Rs 220.63 crore. The net premium income for the quarter rose 4.3% on year to Rs 9,465 crore.
RIL: Reliance Jio Infocomm has launched 5G wireless services in 16 cities across the country. With this, the total number of cities having access to Reliance Jio's 5G services has reached 134.
Rail Vikas Nigam: The company's consortium with Siemens India has emerged as the lowest bidder for two metro projects in Gujarat. The projects include Rs 673 crore Surat Metro Rail Project Phase-1 and Rs 380 crore Ahmedabad Metro Rail Project Phase-II.
Tata Investment Corp: Net profit for the December quarter fell 59.5% YoY to Rs 14.8 crore, and revenue dropped 53% to Rs 24.8 crore.
Delta Corp: Consolidated net profit for the December quarter rose 20.5% YoY to Rs 84.8 crore, while revenue rose nearly 11% to Rs 273.4 crore.
Glenmark Pharmaceuticals: The drugmaker has sold nine of its dermatology brands in India and Nepal to Eris Lifesciences Ltd for Rs 340 crore. The nine trademarks bought by Eris Lifesciences' arm Eris Oaknet Healthcare Pvt Ltd had sales of Rs 87.3 crore in FY22.
Sundram Fasteners: The company has won a contract worth $250 million from a leading global automobile manufacturer to supply sub-assemblies for its electric vehicle platform.
Adani Enterprises: The company has inked an agreement with Ashok Leyland and Canada-based Ballard Power to jointly develop hydrogen fuel cell electric trucks for mining, logistics and transportation sectors. The companies are working on a pilot project and expect to launch the truck in India in 2023.
EID Parry: The company has started commercial operations at its sugar unit at Sankili, Andhra Pradesh. The plant has a capacity of 120 kl per day.
Adani Transmission: The company logged a 4.2% YoY rise in electricity units in the December quarter. The company sold 2.17 billion units compared with 2.08 billion a year ago, and 2.23 million a quarter ago.
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