Stocks in the news: Titan, NBCC, Magma Fincorp and Bharat Petroleum
IGL: Indraprastha Gas reported an 18 per cent increase in net profit to Rs 334.87 crore for the December quarter, compared with Rs 283.59 crore for the corresponding period a year ago.
Q3 earnings: ITC, ACC, Ashok Leyland, MRF, Bayer Crop Science, Bosch, Piramal Enterprises, Petronet LNG, Power Finance Corp, Power Grid, Future Lifestyle Fashions, Graphite, Infibeam Avenues and Natco Pharma will be reporting their financial results for the quarter ended December 31 on Thursday.
Coal India, Crisil, General Insurance Corporation, NHPC, Oil India, Prestige Estates Projects, Computer Age Management Services, Novartis, Puravankara, AGC Networks, Gujarat-Pipavav-Port, Rail Vikas Nigam will also be posting their quarterly results on the same day.
Other companies include Housing & Urban Development Corporation, KNR Constructions, NCC, JSW Holdings, Allcargo Logistics, Repco Home Finance, Tube Investments, Borosil, Greenply Industries, ITDC, ITD Cementation, MSTC, Uflex, ISGEC Heavy Engineering, Garware Technical Fibres, HealthCare Global Enterprises, Honda India Power Products, West Coast Paper Mills, Amrutanjan Healthcare, Best Agrolife, Dishman Carbogen Amcis, Jaypee Infratech, Tasty Bite Eatables and VA Tech Wabag.
Magma Fincorp: Adar Poonawalla’s Rising Sun Holdings to buy 60 per cent stake in the company. Magma Fincorp will allot 458 million shares to Rising Sun Holdings.
NBCC India: The company reported consolidated net profit of Rs. 93.4 crore for the December quarter as against Rs. 49.5 crore in the year-ago quarter.
JB Chemicals: The company’s December quarter consolidated net profit more than doubled on-year to Rs. 150 crore.
Titan: The company reported lower-than-expected consolidated net profit of Rs. 420 crore for the December quarter. However, the company’s topline for the quarter surpassed analysts’ estimate.
Renuka Sugars: The company said that it will invest Rs. 200 crore on capacity expansion projects.
Metropolis Health: The company reported a consolidated net profit of Rs. 58.6 crore for the quarter ended December as against Rs. 42 crore reported in the year-ago quarter.
Bank of India: The Competition Commission of India approved the lender’s acquisition of a 49 per cent stake in BOI AXA Investment Managers.
Bharat Petroleum: The company announced that it will buy a 36.62 per cent stake in Bharat Oman for around Rs. 2,400 crore.
Titan Company: The Tata group firm reported an 11.81 per cent increase in consolidated net profit to Rs 530 crore for the third quarter of the current financial year, led by income growth in the jewellery division.
Metropolis Healthcare: The diagnostic services provider reported a 39.56 per cent increase in consolidated net profit to Rs 58.63 crore for the December quarter, compared with Rs 42.01 crore for the corresponding period a year ago.
Schneider Electric Infrastructure: The company logged an 11 per cent rise in net profit to Rs 33.33 crore for the quarter ended December 31.
National Fertilizers: The government will sell 20 per cent of its stake in the company through an offer for sale. It has invited bids from merchant bankers for managing the share sale. At the current market price, the sale of a 20 per cent stake in the company can fetch about Rs 400 crore for the exchequer.
