Stocks in news: NMDC, Biocon, PB Fintech, SpiceJet and more

Benchmark indices closed lower on Monday led by losses in index heavyweights ICICI Bank, ITC and Reliance Industries amid largely weak Asian markets. Sensex fell 170.89 points or 0.28 per cent to end at 61,624.15. Nifty dipped 20.55 points or 0.11 per cent to close at 18,329.15. Dr Reddy's (3.94%), ITC (2.57%), Hindustan Unilever (1.83%), State Bank of India (1.42%) , ICICI Bank (1.32%)  and Nestle (1.29%)  were among the top Sensex losers. 

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

Earnings today: Rajesh Exports, AVG Logistics, Shahlon Silk, MRC Agrotech, Lee & Nee Softwares, Milton Industries, and Destiny Logistics & Infra are in focus ahead of their September FY23 quarter earnings on November 15.  

NMDC: The state-owned metal player reported a 62 per cent fall in its consolidated net profit to Rs 885.65 crore in Q2, mainly on account of lower income. It had clocked Rs 2,339.58 crore net profit during the July-September period of the preceding fiscal. 

Biocon: The biotechnology major’s consolidated net profit declined 11 per cent to Rs 168 crore in Q2 on account of rise in overall expenses. The Bengaluru-based firm had reported a net profit of Rs 188 crore in the July-September quarter of previous fiscal. 

Brigade Enterprises: The realty firm’s consolidated net profit stood at Rs 52 crore for the quarter ended September against a net loss of Rs 14 crore in the year-ago period.  Revenue in the second quarter of this fiscal stood at Rs 912 crore as against Rs 776 crore in the corresponding period of the previous year. 

PB Fintech: Tiger Global Management sold 1,34,17,607 shares or 2.98 per cent of Policybazaar's parent firm stake at an average price of Rs 389.38-Rs 389.44 apiece for Rs 522.50 crore through open market transactions, according to the bulk deal data available with NSE. 

SpiceJet: The airline firm reported widening of net loss to Rs 837.8 crore in Q2 as record fuel prices and depreciating rupee caused turbulence for the budget carrier. Excluding the forex loss, the airline's net loss stood at Rs 577.7 crore in the latest quarter under review. 

Apollo Tyres: The tyre major said its consolidated net profit increased by 11 per cent to Rs 194 crore in the second quarter ended September, riding on the back of robust sales in domestic as well as international markets. It had reported a net profit of Rs 174 crore in the July-September period of the last fiscal. 

Knowledge Marine and Engineering Works: The shipping company reported a 425 per cent jump in the net profit to Rs 23.84 crore for the half year ended September 2022. It announced to issue 5.65 lakh preferential shares at an issue price of Rs 700 each aggregating to Rs 39.55 crore, including Ashish Kacholia. 

Mawana Sugars: The sugar player said its consolidated net loss widened to Rs 32.42 crore during the second quarter of 2022-23 against a loss of Rs 18 crore in the year-ago quarter. The company's total income rose on a consolidated basis to Rs 341.3 crore. 

Gammon India: The civil construction firm reported widening of consolidated net loss at Rs 339.31 crore for the quarter ended September. The company had posted a consolidated loss of Rs 274.30 crore in the year-ago period.

New Delhi Television: Market regulator Sebi has cleared Adani Group's open offer to buy an additional 26 per cent stake in media firm NDTV and the offer will commence on November 22. According to an update on Sebi's website, the regulator gave its final comments on the proposed Rs 492.81 crore-open offer on November 7.

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