Tech Mahindra, Bharti Airtel, Indus Towers in focus
Adani Total Gas board will consider on October 28 a proposal to raise funds via a medium-term note program of as much as $750 million.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 37 points at the opening bell. Overseas, Asian stocks are trading higher on Tuesday after major indexes on Wall Street rose to record closing highs. South Korea’s economy grew at a slower pace in the third quarter, as robust exports were offset by weak domestic demand and construction and facility investments, data from the Bank of Korea showed on Tuesday. Gross domestic product (GDP) grew a seasonally adjusted 0.3% in the September quarter from three months earlier, slowing from 0.8% growth in the preceding quarter. Here is the list of top stocks that could be in focus today.
Tech Mahindra: The IT major reported 25.8% increase in consolidated net profit to Rs 1338.70 crore on 16.1% rise in revenue from operations to Rs 10881.30 crore in Q2 September 2021 over Q2 September 2020. Tech Mahindra’s consolidated net profit fell 1.1% and revenue from operations rose 6.7% in Q2 September 2021 over Q1 June 2021.
Bharti Airtel: The company confirmed to avail both options – deferment of the payment of spectrum auction instalments due up to four years; and deferment of AGR (adjusted gross revenue) related dues by a period of four years with immediate effect.
Indus Towers: The company reported 38% increase in consolidated profit after tax to Rs 1559 crore on a 8% rise in revenue to Rs 6877 crore in Q2 FY22 over Q2 FY21.
HDFC Asset Management Company: HDFC AMC reported profit after tax of Rs 344.38 crore in Q2FY22 against Rs 338.06 crore in Q2FY21. Total income rose to Rs 608.40 crore from Rs 569.95 crore YoY. Ceat reported consolidated net profit of Rs 42.28 crore in Q2FY22 against Rs 182.18 crore in Q2FY21. Total income increased to Rs 2454.52 crore from Rs 1982.24 crore YoY.
Kansai Nerolac Paints: The paint manufacturer reported 38.1% fall in profit after tax to Rs 99 crore on a 16.2% rise in revenue to Rs 1521 crore in Q2 FY22 over Q2 FY21.
Adani Total Gas: The company’s board will consider on October 28 a proposal to raise funds via a medium-term note program of as much as $750 million, or its equivalent in any currency, in one or more tranches.