Stocks to watch: Tata Steel, Zee, PFC 

Market


NEW DELHI :

Here are the top 10 stocks that are likely to be in focus today:

Tata Steel: Tata Steel announced its September quarter results on 11 November. It reported a profit after tax (PAT) of 12,548 crore, a 7.5-fold jump from 1,665 crore in the corresponding quarter last year and by 28% from 9,768 crore in the previous quarter, helped by strong performance across geographies.

Adani Group: Billionaire Gautam Adani on Thursday said his logistics-to-energy conglomerate will invest $70 billion over the next decade to become the world’s largest renewable energy company and produce the cheapest hydrogen on the Earth.

Sun Pharmaceutical: Sun Pharmaceutical Industries on Thursday said it is gearing up to introduce Merck Sharp Dohme (MSD) and Ridgeback’s molnupiravir pill, used for the treatment of covid-19, under the brand name ‘Molxvir’ in India.

Tata Power: Moody’s Investors Service has assigned a Ba2 corporate family rating to Tata Power Company Ltd. Moody’s said the rating upgrade reflects the company’s predictable cash flow from its regulated business, exposure to thermal coal prices for its Mundra project and Indonesian coal mines, growing renewable energy business, and moderately high financial leverage.

ONGC: India’s petroleum ministry has asked state-run explorer Oil and Natural Gas Corp. to consider selling a 60% stake in its two major oil and gas fields to private companies to boost output, Reuters reported quoting a government official.

Sunteck Realty: Sunteck Realty has reported a 35 % year-on-year and 404% sequential jump in its consolidated net profit at 15 crore for the quarter ended 30 September. Revenue for the quarter stood at 136 crore, down 7% year-on-year and up 47% sequentially.

ZEEL: Zee Entertainment Enterprises Ltd (ZEEL) on Thursday reported a consolidated net profit of 270 crore, zooming 187%, year-on-year for the quarter ended 30 September 2021. The company posted a net profit of 94 crore in the year-ago period. Other reports said the company also plans to transfer digital ops to Indiadotcom for cash consideration which it had earlier agreed on terms of transfer of shares. The company saw advertising revenue growth at 20.1%.

NLC India: NLC India Ltd on Thursday said its consolidated profit in Q2FY22 more than tripled to 197.02 crore. The company had posted a profit of 61.98 crore in the year-ago period, NLC India said in a filing to BSE. Income during July-September period increased to 3,313.73 crore from 2,508.85 crore in the year-ago period, the filing said.

Indiabulls Housing Finance: Mortgage financier Indiabulls Housing Finance on Thursday reported an 11% dip in its net profit at 286 crore in the quarter ended September due to a decline in its loan book. The lender’s profit after tax stood at 323 crore in the same quarter of the previous fiscal.

Power Finance Corp: State-owned Power Finance Corporation on Thursday posted a 17% rise in its consolidated net profit to 5,023.42 crore in the September quarter, mainly on the back of higher revenues. The consolidated net profit of the Maharatna PSU was 4,289.74 crore in the quarter ended 30 September 2020, a BSE filing said. The total income of the company rose to 19,282.60 crore in the September quarter from 18,171.41 crore a year ago. The company has cleared a second interim dividend of 2.50 per share.

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