Tata Steel share price: Stocks in the news: Tata Steel, Sun Pharma, Airtel, Axis Bank, L&T and Glenmark

Nifty futures on the Singapore Exchange traded 104.5 points, or 0.58 per cent higher at 18,165, signaling that Dalal Street was headed for a positive start on Tuesday. Here are a dozen stocks which may buzz the most in today’s trade:

Sun Pharma, Adani Ports, TechM:
Sun Pharmaceuticals, Adani Ports & SEZ, Tech Mahindra, UPL, Voltas, , Cholamandalam Investments and Finance, UPL, , , , and are among the companies that will announce their results for September 2022 quarter today.

Tata Steel: The domestic steel giant reported a nearly 90 per cent drop in consolidated net profit to Rs 1,297 crore for the July-September quarter of 2023-23, dragged by higher expenses. The company’s net profit stood at Rs 12,547.70 crore in the corresponding period of the previous financial year.

The telecom major posted an 89 per cent year-on-year rise in consolidated net profit for September quarter to Rs 2,145 crore, as higher revenue per user, more data consumption, and expanded 4G base boosted realisations. Airtel’s total revenue rose nearly 22 per cent year-on-year to Rs 34,527 crore during the just-ended quarter.

Axis Bank: Bain Capital will likely sell a 1.24 per cent stake in the private lender worth $410 million (Rs 3,400 crore) through block deals, according to a term sheet issued by the banker JP Morgan. The floor price has been fixed at Rs 888 per share, a discount of 2 per cent to Monday’s closing price of Rs 906.

Larsen & Toubro: The engineering and construction major reported a 26 per cent rise in consolidated net Profit After Tax (PAT) at Rs 2,819.20 crore for the quarter ended September on the back of higher revenue from operations. The company had posted a consolidated net PAT of Rs 2,231.33 crore in the year-ago period.

Adani Power: The Adani Group’s power arm said that the timeline for completion of the Rs 7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended by one month till November 30, 2022.

Glenmark Pharamceuticals: The drug firm said its US-based unit has launched Fingolimod capsules, used to treat multiple sclerosis, in the American market. , USA has launched the product, a generic version of Novartis Pharmaceuticals Corporation’s Gilenya, in the strength of 0.5 mg.

The private lender reported over two-fold jump in its net profit at Rs 116 crore in the quarter ended September 2022 on good growth in loan disbursals. The small finance bank had posted a net profit of Rs 41 crore in the year-ago period.

Castrol India: The lubes maker said its net profit increased marginally to Rs 187 crore for the July-September quarter. The Mumbai-based company had reported a net profit of Rs 186 crore in the year-ago period.

Saregama India:
The music label reported a 36.42 per cent increase in its consolidated net profit to Rs 46.11 crore for the second quarter ended September 30, 2022. It had posted a net profit of Rs 33.80 crore in the July-September quarter last fiscal.

Data Patterns (India):
The defence and aerospace player reported a growth of 63 per cent in PAT to Rs 21 crore aided by the decline in operating costs. The total revenue grew 51 per cent to Rs 90 crore. The company has Rs 884 crore worth of orders in hand.

GCHL: The chemical and spinning company’s net profit grew by 212 per cent to Rs 289 crores as compared to Rs. 93 crores in the Q2FY22. The net revenue grew by 73 per cent during Q2FY23 to Rs 1,389 crores as compared to Rs.805 crores in the corresponding quarter previous year.

: The auto component maker reported a 2 per cent rise in net profit at Rs 116.45 crore in the second quarter ended September 30, 2022. The company had posted a net profit of Rs 114 crore in the same period last fiscal.

Supreme Industries: The plastic product maker reported a 64.13 per cent decline in consolidated profit at Rs 82.02 crore in the second quarter ended September 2022, impacted by a fall in PVC resin prices. The company had posted a net profit of Rs 228.71 crore during the July-September quarter of the previous fiscal.

TCI Express: The logistics firm posted an about 12 per cent rise in profit after tax (PAT) at Rs 38 crore in the September quarter on account of higher income. The company’s PAT stood at Rs 34 crore in the corresponding quarter of the previous financial year.

: The realty firm and ASK Property Fund have agreed to set up a Rs 500 crore investment platform to acquire housing projects. Both companies have signed a Memorandum of Understanding (MoU) for setting up the investment platform for acquisition of residential real estate projects.

Capri Global Capital:

(LIC) has raised its stake in the NBFC by 2 per cent over the last few months at an investment of Rs 257.37 crore. Its shareholding in Capri Global has increased from 1,24,00,000 to 1,59,51,171 equity shares, increasing its stake from 7.05 per cent to 9.07 per cent in the company.

AGI Greenpac:
The packaging company’s bottomline more than doubled to Rs 100 crore for the quarter ended on September 30, 2022. The revenue from operations jumped 72 per cent to Rs 1,034 crore during the given period under reveiw.

: The electrical equipment company has received a letter of award (LoA) of Rs 230.2 crore from the Maharashtra State Electricity Distribution Company under its EPC division. The project will be completed within the next 12-18 months.

Jay Bharat Maruti: The auto component manufacturer reported a 156 per cent surge in its standalone profit after tax (PAT) to Rs 8.9 crore as compared to Rs 3.5 crore reported a year ago in September 2022 quarter. The standalone revenues for the quarter came in at Rs 571 crore, a growth of 24 per cent on year.

& Fixtures: The manufacturer of lighting solutions of LED lights has reported a 191 per cent rise in the net profit to Rs 4.59 crore for the quarter ended on September 30, 2022. Revenue for the company rose 75 per cent to Rs 40.61 crore during the quarter.

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