Stocks To Watch Today: Wipro, ICICI Lombard, Tech Mahindra, Adani Energy
Indian Hotels Co., DLF, Bank Of India and Ramkrishna Forgings are some of the other stocks that will be on the radar on Monday.
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Wipro Ltd., ICICI Lombard General Insurance Co Ltd., Tech Mahindra Ltd., and Adani Energy Solutions Ltd. are some of the stocks that will be on the radar on Monday.
Stocks To Watch
Wipro: The company announced its consolidated quarter-on-quarter, third-quarter earnings on Friday. In the third quarter, Wipro's net profit was up 4.6% at Rs 3,354 crore compared to the previous quarter's Rs 3,208 crore. The firm's revenue shot up 0.1% at Rs 22,319 crore compared to Rs 22,302 crore in the year ago period.
ICICI Lombard General Insurance Co.: The insurance company's net premium income was up 17.2% at Rs 5,045 crore (year-on-year) compared to the previous fiscal's Rs 4,305 crore. ICICI Lombard's solvency ratio was up 2.36% from the previous quarter's 2.65%. The firm's net profit increased 67.9% to Rs 724 crore compared to Rs 432 crore (year-on-year).
Tech Mahindra: In the third quarter, Tech Mahindra's net profit was down 21.4% at Rs 983 crore compared to the previous quarter's Rs 1,250 crore. The firm's revenue decreased by 0.2% at Rs 13,286 crore compared to Rs 13,313 crore in the year ago period. The company's Ebit increased 5.4% to Rs 1,350 crore vs Rs 1,280 crore (quarter on quarter), and margin increased to 10.2% from the previous quarter's 9.6%.
Indian Hotels Co.: The firm announced its consolidated year-on-year, third-quarter earnings on Friday. In the third quarter, Indian Hotels Company's net profit was up 32.6% at Rs 633 crore compared to the previous quarter's Rs 477 crore. The firm's revenue shot up 29% at Rs 2,533 crore compared to Rs 1,964 crore in the year ago period.
Adani Energy Solutions: Adani Electricity signed an agreement with Adani Properties to acquire Superheights Infraspace for Rs 475 crore. Superheights Infraspace holds the development rights for 3,000 square meters of prime land in Bandra Kurla Complex, Mumbai.
DLF: The NCLT Chandigarh Bench has granted approval for the merger of seven wholly owned subsidiary companies.
Ramkrishna Forgings: The company announced its consolidated year-on-year, third-quarter earnings on Friday. In the third quarter, Ramkrishna Forgings' net profit was up 14.7% at Rs 99.6 crore compared to the previous year's Rs 86.9 crore. The firm's revenue shot up 7.9% at Rs 1,074 crore compared to Rs 996 crore in the year-ago period.
Minda Corporation: The company has finalized the acquisition of a 49% equity stake in Flash Electronics Pvt.
Ashapura Minechem: The company’s overseas subsidiary has entered into a long-term Memorandum of Understanding with China Railway to jointly develop the Fako bauxite deposit located in Guinea.
Bank of India: The bank is set to deliberate on a proposal to raise funds via the issuance of long-term infrastructure bonds at its meeting scheduled for January 23, 2025.
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