Stocks in news: RIL, Lupin, Shakti Pumps, BHEL, Future Consumer and more

The domestic equity market closed lower for the third straight session on Friday. Sensex slipped 231 points to end the session at 65,397 and Nifty lost 82 points to settle at 19,542.    

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

Torrent Pharmaceuticals 

The pharma company reported a 23.7 percent on-year rise in consolidated profit at Rs 386 crore in Q2. Revenue rose 16.1 percent to Rs 2,660 crore. The company’s  India business grew 18 percent YoY to Rs 1,444 crore, Brazil up 36 percent and Germany 21 percent, but US business fell 15 percent to Rs 248 crore. 

RIL   

Disney is likely to sell a controlling stake in the Disney Star business valued at around $10 billion to Reliance Industries, according to a Bloomberg's report.  

PNB Housing Finance 

The housing finance company logged a 46 percent on-year growth in consolidated profit at Rs 383 crore for Q2, led by a fall in impairment on financial instruments & write-offs. Net interest income climbed 2 percent YoY to Rs 661 crore. 

NHPC 

The state-run power firm has clocked a major milestone by daylighting the head race tunnel (HRT) of Parbati-II HE project (800 MW) in Himachal Pradesh. The breakthrough has been achieved in the longest face of the HRT of 13.118 km. The project is likely to be completed by the end of September next year. 

Also read: Hot stocks on October 25, 2023: NIIT, Jio Financial, Zomato, Delta Corp, JP Power and more          

Lupin 

The company received the approval of United States Food and Drug Administration for its abbreviated new drug application for Fluconazole tablets to market the generic equivalent of Diflucan tablets of Pfizer in the US. 

 

Lloyds Metals and Energy  

The company reported a 62.1 percent fall in net profit at Rs 231.3 crore in Q2 against Rs 142.71  crore in the September 2022 quarter. Revenue climbed 62 percent to Rs 1,091.3 crore in the September quarter against Rs 673.8 crore in Q2 of the previous fiscal YoY.  

Balkrishna Industries  

Nuvama has assigned a reduce call on Balkrishna Industries with a target of Rs 2,152 per share. Q2 EBITDA was in-line with estimates and volumes partly benefited from inventory created in June 2023. Inventory created in June 2023 could not be shipped due to cyclone biparjoy, said Nuvama. The company expects stable trajectory to continue & lead to a better H2FY24. The brokerage expects a marginal dip in FY24 volumes.   

Shakti Pumps   

The firm has received a patent for inventing a “stack assembly for permanent magnet rotor". The Patent Office, Government of India, has awarded Shakti Pumps this patent, fully adhering to the provisions set forth in the Patents Act of 1970. The patent is set to maintain its validity for 20 years, commencing from the date of filing. This is the 6th Patent that the company has secured.  

Kajaria Ceramics  

Jefferies has assigned a buy call on the firm with a target of Rs 1,565 per share. H1 volume growth was weaker (7 percent YoY) but recovery is estimated in H2. Recovery was led by demand emanating from real-estate and by penetration in T-2-3 cities (60 percent of sales). The brokerage cut FY24-26 EPS by 8 percent. Beyond near-term hiccups, medium-term prospects stay robust, said Jefferies.   

Future Consumer  

The board of the firm has appointed Samson Samuel as Managing Director with effect from October 23, 2023 for 3 years. Samuel, being appointed earlier as the Chief Executive Officer has already been designated as ‘Key Managerial Personnel’ of the company and shall continue to be a ‘Key Managerial Personnel’ of the company. Consequent to appointment of Samson Samuel as an Executive Director, he shall consequently cease to be the CEO of the Company.   

BHEL   

The Appointment Committee of the Cabinet (ACC) has approved the appointment of Koppu Sadashiv Murthy, Executive Director (ED), Bharat Heavy Electricals Limited (BHEL) to the post of Chairman and Managing Director (CMD), BHEL with effect from the date of his assumption of charge of the post on or after November 1, 2023 till the date of his superannuation i.e. 28.02.2027, or until further orders, whichever is earlier.  

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