Stocks in news: LIC, IRCTC, Godrej Properties, Fortis Healthcare and more

The Indian equity market closed higher on Friday following a strong rally in global markets.  Slowing of consumer inflation in the US buoyed sentiment on key indices across the world. Strong buying in IT and metal stocks also supported domestic sentiment. Sensex zoomed 1181 points to end at 61,795 and Nifty climbed 321 points to 18,349. Of 30 Sensex stocks, 22 ended in green.

Earnings today: Oil & Natural Gas Corporation, Grasim Industries, IRCTC, Bharat Forge, Biocon, Abbott India, Balkrishna Industries, NMDC, Linde India, Aarti Industries, AIA Engineering, GMR Airport Infra, Apollo Tyres, Godrej Industries and Radico Khaitan are among the companies that will announce their results for the quarter ended September 2022 today.

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

LIC: The state-owned insurer logged a multi-fold rise in net profit to Rs 15,952 crore in the September quarter, boosted by profits from its investments. The insurer posted a net profit of Rs 1,434 crore in the year-ago period.

Fortis Healthcare: The healthcare chain reported a 67.1 per cent rise in consolidated profit after tax of Rs 218.3 crore for the second quarter ended September 2022 against Rs 130.6 crore recorded in the year-ago period. Consolidated revenues for Q2FY23 stood at Rs 1,607 crore.

Godrej Properties: The realty firm said it has been declared as the highest bidder for two adjacent land parcels in Noida with a bid of Rs 377 crore. The company said that it has been declared as highest bidder as per the e-tendering portal of SBI, which facilitated the e-auction on behalf of Noida Authority.

Bharat Dynamics: The state-owned defence company reported a massive 75.3 per cent year-on-year growth in profit at Rs 75.8 crore for the quarter ended September FY23, led by healthy operating performance and higher other income. Revenue climbed 6.1 per cent to Rs 534.8 crore compared to year-ago period.

Zee Entertainment Enterprises: The media and entertainment company logged a 58 per cent fall in profit at Rs 112.8 crore for the September FY23 quarter, due to weak operating performance and muted topline growth. Revenue for the quarter at Rs 2,028.4 crore grew by 2.5 per cent.

GlaxoSmithKline Pharmaceuticals: The drug maker's net profit rose 3 per cent to Rs 193 crore in the second quarter ended September against a net profit from continuing operations at Rs 187 crore in the July-September period of the previous fiscal.

EID Parry (India): The part of the Murugappa Group reported a standalone profit after tax (PAT) of Rs 85.13 crore for the July-September quarter against Rs 73.19 crore profit last year.

Thermax: The energy and environment solutions company logged a 24.1 per cent growth in profit at Rs 109.2 crore for the quarter ended September FY23 on strong top line and operating performance. Revenue climbed 41.3 per cent to Rs 2,075.3 crore.

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