Illustration: Ajay Mohanty The markets
are likely to open on a positive note as indicated by SGX Nifty. However, global cues may dampen sentiment as rising oil prices continue to weigh on world market sentiment. At 08:20 AM, the SGX Nifty indicated a gap-up opening of 66 points at 18,421. Here are the top stocks to focus in trade today:
A week after announcing couple of deals in the renewable energy space, Mukesh Ambani controlled firm now aims for global tie-ups in the same space. READ MORE
Meanwhile, one of the company’s retail division – Reliance Brands acquired 40 per cent stake in renowned fashion designer Manish Malhotra's MM Styles Pvt Ltd, for an undisclosed sum.
Q2FY22 net profit rose by 17.6 per cent to Rs 8,834.31 crore as against Rs 7,513.11 crore in the year ago period. Total income was up 7.4 per cent at Rs 38,754.16 crore from Rs 36,069.42 crore in the same period.
The IT firm maintained FY22 forecast, while reporting 3.9 per cent YoY growth in Q2 net at Rs 3,265 crore, and 11.1 per cent YoY growth in revenue at Rs 20,655 crore for the quarter ended September 2021. READ MORE
Avenue Supermarts (Dmart):
Q2 net profit more than doubled to Rs 448.90 crore for the quarter ended September 2021 when compared with Rs 210.55 crore in the corresponding quarter a year ago. Total income grew by 45.7 per cent to Rs 7,682.63 crore form Rs 5,273.96 crore.
Alok Textiles, Gujarat Hotels, Hathway Bhawani Cable, Hatsun Argo, Lloyds Steels, Larsen & Toubro Infotech, SVP Global Ventures, Tanfac Industries, Tata Coffee and UltraTech Cement are some of the prominent companies to announce earnings.
Indiabulls Real Estate:
Reported two-fold jump in sales worth Rs 874 crore in the first half of the fiscal year. READ MORE
Board approved a preferential issue of 42.25 lakh shares worth Rs 90 crore. Further, issue convertible warrants to promoters to raise Rs 10 crore.
The Central Board of Direct Taxes has notified a separate rule to settle the long-drawn retrospective tax dispute with Vodafone Plc. The new rule gives the telecom firm 45 days to approach the government for a settlement. READ MORE
NTPC, NLC India:
The latter company said it has commenced coal supply to NTPC's power plant at Darlipali in Odisha from its Talabira project in the eastern state.
Net profit soared to Rs 2.5 crore in Q2FY22 from Rs 0.31 crore in Q2FY21. Total income more than doubled to Rs 67.48 crore from Rs 31.85 crore in the same period.
Company’s board to meet on October 21, it may re-consider the total aggregate amount to be raised by Rights issue and other fund raising options to complement the Rights Issue.
Gears up for a legal battle with YES Bank by planning to move the National Company Law Tribunal to appoint six of its nominees on the board. The company has sent a detailed response to YES Bank, says the ball is now in their court. READ MORE
Plans to acquire a Ludhiana-based manufacturing unit of Bharti Group to start making telecom gears under the production-linked incentive scheme announced for the sector. The firm plans to invest Rs 200 crore under the PLI scheme. READ MORE
Board approves issue of bonus shares in the ratio 1:1
Shree Ganesh Remedies:
Company announces November 02 as record date for 1:5 bonus share issue.
Company reported 5.8 per cent YoY rise in Q2FY22 net at Rs 76.22 lakh, on the back of 67.6 per cent YoY rise in total income at Rs 10.51 crore.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.