February 3, 2023

New Delhi: Following are the stocks that could be in focus in Wednesday’s trade:

Bharti Airtel: The telecom carrier has raised entry level tariff plans to 155 from 99 earlier, in seven more circles of Karnataka, Bihar, North East, Himachal Pradesh, Andhra Pradesh, Rajasthan and Uttar Pradesh West. It is now charging the minimum amount in nine circles of the total 22 circles.

Tata Motors: The Tata group company is expected to report consolidated profit for the first time in seven quarters in the three months ended December, aided by strong sales in the domestic market, easing of raw material prices and improved business prospects of subsidiary Jaguar Land Rover.

TVS Motor: Aims to double its electric two-wheeler sales by March and launch a range of new products, from 5kWh to 25kWh, to expand its iQube line within the next 12-18 months. The company reported a stronger-than-expected financial performance in the quarter ended December, with a 22.5% increase in net profit to 352.75. Revenue climbed nearly 15% to 6,545.42 crore.

Jet Airways: Lenders to the airline have filed an appeal with the appellate bankruptcy court, seeking a stay on an order of the National Company Law Tribunal (NCLT) that allowed the transfer of the airline’s ownership to the Jalan-Kalrock Consortium that had won the. bid for the bankrupt company, as per media reports.

Reliance Capital: The secured lenders of Reliance Capital have moved the National Company Law Appellate Tribunal, seeking to vacate a bankruptcy court order for maintaining status quo on the company’s insolvency proceedings.

Embassy Office REIT: Blackstone Inc is in talks to sell around half of its stake in the real estate investment trust to private equity firm Bain Capital in a deal worth up to $480 million at current prices.

Coffee Day Enterprises: Securities and Exchange Board of India has imposed a 26 crore fine on Coffee Day Enterprises, which runs Cafe Coffee Day, for alleged diversion of funds from subsidiaries to an entity related to promoters. As per a detailed probe funds amounting 3,535 crore were diverted.

Barbeque-Nation Hospitality: Chief financial officer Anurag Mittal has resigned from the company. His resignation will be effective 7 February.

Nazara Technologies: The gaming and sports media platform has reported a 76% year-on-year growth in consolidated profit at 18.1 crore for the quarter ended December. Revenue from operations at 315 crore grew by 69.4% on year. Operating profit increased 3.4% YoY to 30.1 crore.

Macrotech Developers: The real estate developer has reported a 41.7% year-on-year growth in consolidated profit at 404.5 crore, supported by other income and lower tax costs. Revenue at 1,774 crore fell 14% on year, but pre-sales grew 16% YoY to 3,035 crore.


Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.

Take the test

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *