Stocks In the News: Check out the companies making headlines before the opening bell.
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Reliance Industries: The company reported sharply higher consolidated profit at Rs 20,539 crore in Q3FY22 against Rs 14,894 crore in Q3FY21, revenue rose to Rs 2,09,823 crore from Rs 1,37,829 crore YoY. Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
ICICI Bank: The bank reported over 25% growth in net profit for the December quarter, helped by lower provisioning and higher net interest income. Net interest income (NII) was up 23.44% to Rs 12,236.04 crore from Rs 9,912.46 crore last year. Other income grew 6.42% to Rs 4,987.07 crore.
Yes Bank: The bank reported a 77% year on year growth in December quarter profit at Rs 266 crore as lower provisions and higher loan recoveries drove earnings at the lender. Net interest income was down 31% to Rs 1,764 crore and other income declined 32% to Rs 734 crore.
ONGC: ONGC Videsh has entered the development stage with The Declaration Of Commerciality (DoC) in its Brazil offshore project BM-SEAL-4.
Vodafone Idea: The company posted loss of Rs 7,230.9 crore in Q3FY22 against loss of Rs 7,132.3 crore in Q2FY22, revenue rose to Rs 9,717.3 crore from Rs 9,406.4 crore QoQ.
Titagarh Wagons: Titagarh Firema S.p.A., the subsidiary in Italy (TFA), has signed the framework agreement for design, manufacture, supply and ten years of maintenance of 38 trainsets of Metro for Lazio Regione, Italy. The total value of the framework agreement is 282 million euro (equivalent to Rs 2,380 crore).
Bandhan Bank: The bank reported higher profit at Rs 859 crore in Q3FY22 against Rs 632.6 crore in Q3FY21, revenue rose to Rs 2,124.7 crore from Rs 2,071.7 crore YoY.
JSW Steel: The company reported higher profit at Rs 4,516 crore in Q3FY22 against Rs 2,669 crore in Q3FY21, revenue jumped to Rs 38,071 crore from Rs 21,859 crore YoY.
Granules India: FMR LLC & FIL Ltd acquired 10.22 lakh equity shares in the company via open market transactions on January 19, increasing shareholding to Rs 5.23% from 4.82% earlier.
Inox Leisure: The company posted loss at Rs 1.32 crore in Q3FY22 against loss of Rs 102.5 crore in Q3FY21, revenue jumped to Rs 296.47 crore from Rs 14.88 crore YoY.
Gland Pharma: The company reported higher profit at Rs 273 crore in Q3FY22 against Rs 204.1 crore in Q3FY21, revenue rose to Rs 1,063.3 crore from Rs 859.4 crore YoY.
FDC: The company has received approval for ANDA from United States Food and Drug Administration, for Ofloxacin Otic solution, 0.3%.
Wonderla Holidays: Bangalore park resumed its weekend operations from January 22 as Government of Karnataka has ended the weekend curfew restrictions.
Supreme Petrochem: The company has undertaken project for manufacture of mass acrylonitrile butadiene styrene (mABS) at Amdoshi-Wangani, Maharashtra, with two Lines of 70 KTA each, aggregating 140 KTA. Line I is scheduled to go on stream by June 2024 and Line II is planned for completion by March 2025.
Oriental Aromatics: The company reported consolidated profit at Rs 7.96 crore in Q3FY22 against Rs 36.35 crore in Q3FY21, revenue rose to Rs 205.78 crore from Rs 190.67 crore YoY.
PNB Gilts: The company posted loss of Rs 6.14 crore in Q3FY22 against profit of Rs 167.06 crore in Q3FY21, revenue fell to Rs 262.49 crore from Rs 322.99 crore YoY.
Prince Pipes and Fittings: Mirae Asset Mutual Fund acquired 9.6 lakh equity shares in the company via open market transactions on January 13, increasing shareholding to 5.79% from 4.92% earlier.
CSB Bank: The bank reported higher profit at Rs 148.25 crore in Q3FY22 against Rs 53.05 crore in Q3FY21, net interest income increased to Rs 303.34 crore from Rs 251.18 crore YoY.
Tanla Platforms: The company reported higher profit at Rs 158 crore in Q3FY22 against Rs 93.52 crore in Q3FY21, revenue jumped to Rs 884.92 crore from Rs 654.11 crore YoY.
Sky Industries: CRISIL has revised its outlook on the long term bank facilities of the company to ‘Positive’ from ‘Stable’ while reaffirming the rating at ‘BB+’.
Adcon Capital Services: The company approved sub-division of face value of equity shares from Rs 10 each to Re 1 each, and fund raising of Rs 30 crore via Rights issue.
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