These are some of the stocks that will be in focus for the following reasons
Adani company
Abu Dhabi-based diversified conglomerate International Holding Co (IHC) will invest US$400 million in Adani Enterprises’ subsequent public offering (FPO). IHC’s investment pledge comes at a time when the mega FPO of billionaire Gautam Adani’s flagship company is struggling to get through after last week’s massive sell-off in shares.
BPCL
The reported consolidated net profit of state-owned BPCL fell 36% to Rs.1,747 crore in the December quarter compared to Rs.2,579 crore in the same quarter last year. Meanwhile, operating income rose 13%.
L&T
Infrastructure major Larsen & Toubro (L&T) reported a 24% year-on-year increase in profit after tax to Rs.2,553 billion in the quarter ended December. Operating income also increased by 17%.
Tech Mahindra
Tech Mahindra net profit for the December quarter fell 5% YoY to Rs 1,297 crore. Operating revenue increased 20% year-on-year to Rs.13,735 crore.Punjab National Bank
Public lender Punjab National Bank’s net profit fell 44% to Rs 629 crore in the three months to December. Net profit was Rs 1,127 crore for the same period last year.
GAIL India
GAIL India, the country’s largest gas distributor, reported a nearly 93% drop in profits in the third quarter, which was impacted by lower gas sales due to supply disruptions.
Sun Pharma, ACC, Coal India, Vodafone Idea, Indian hotels
The boards of directors of these companies will meet to review and approve the results for the December quarter.
HDFC bank
The final hearing on the merger of Housing Development Finance Corp (HDFC) and the bank will take place at the Bank of the National Company Law Tribunal in Mumbai on February 3. The proposed merger has already received approval from equity shareholders, the Competition Commission of India, the Reserve Bank of India and the stock exchanges.
Century textiles and industries
The Board of Directors of the Company has approved the allotment of 7.97% unsecured unlisted rated cash redeemable NCDs of Rs 1,000 crore each, totaling in part to Rs 400 crore on a private placement basis.
