RIL, JSW Steel, IEX, TVS Motor Company in focus
RIL said a majority of its shareholders have passed a resolution to appoint Saudi Aramco chairman Yasir Al-Rumayyan as an independent director.
Benchmark Indian indices are set to open on a positive note as Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 31 points at the opening bell. Meanwhile, Prime Minister Narendra Modi will be addressing the nation at 10 am today. PM Modi’s address comes a day after India made the achievement of administering over a billion Covid-19 vaccine doses. Overseas, Asian stocks are mostly trading higher on Friday, as shares of China Evergrande Group surged in Hong Kong following media reports that the embattled developer is set to pay off a coupon payment on a dollar-denominated bond. Here is the list of top stocks that could be in focus on Friday.
RIL: Reliance Industries said that a required majority of its shareholders have passed a resolution to appoint Saudi Aramco chairman Yasir Al-Rumayyan as an independent director to the company’s board. Meanwhile, the company is set to announce its September quarter earnings today.
JSW Steel: The company reported a 350% year-on-year (YoY) jump in consolidated net profit to post its highest quarterly profit of Rs 7,179 crore for the second quarter ending 30 September. The company also reported its highest-ever quarterly revenue from operations at Rs 32,503 crore for the quarter, against Rs 19,264 crore a year ago.
Indian Energy Exchange: IEX reported consolidated profit at Rs 77.38 crore in Q2FY22 against Rs 44.33 crore in Q2FY21. Total income rose to Rs 122.30 crore from Rs 78.71 crore YoY. The company recommended a bonus issue of equity shares in the proportion of 2 equity shares for each share held.
TVS Motor Company: The company posted a consolidated net profit of Rs 234.37 crore in Q2FY22 over net profit of Rs 181.41 crore in Q2FY21. Revenue from operations rose to Rs 6,491.18 crore for the second quarter as compared to Rs 5,269.59 in the year-ago period.
ICICI Lombard General Insurance Company: Net profit of ICICI Lombard General Insurance Company rose 7.44% to Rs 446.67 crore in the quarter ended September 2021 as against Rs 415.74 crore during the previous quarter ended September 2020. Sales rose 31.99% to Rs 3250.29 crore in the quarter ended September 2021 as against Rs 2462.52 crore during the previous quarter ended September 2020.
Macrotech Developers: Net profit of Macrotech Developers stood at Rs 220.41 crore in the quarter ended September 2021 as against net loss of Rs 363.22 crore during the previous quarter ended September 2020. Sales rose 135.78% to Rs 2123.83 crore in the quarter ended September 2021 as against Rs 900.76 crore during the previous quarter ended September 2020.
VST Industries: Net profit of VST Industries declined 9.78% to Rs 79.88 crore in the quarter ended September 2021 as against Rs 88.54 crore during the previous quarter ended September 2020. Sales declined 9.57% to Rs 271.29 crore in the quarter ended September 2021 as against Rs 300.00 crore during the previous quarter ended September 2020.
LIC Housing Finance: Net profit of LIC Housing Finance declined 68.66% to Rs 247.86 crore in the quarter ended September 2021 as against Rs 790.90 crore during the previous quarter ended September 2020. Sales declined 5.25% to Rs 4708.01 crore in the quarter ended September 2021 as against Rs 4969.03 crore during the previous quarter ended September 2020.