Stocks to Watch: Check out the companies making headlines before the opening bell.
Results on October 18: L&T Technology Services to be in focus ahead of quarterly earnings on October 18. Gujarat Fluorochemicals, Gujarat Mineral Development Corporation, Heritage Foods, HFCL, ICICI Lombard General Insurance Company, JSW Ispat Special Products, KPIT Technologies, L&T Technology Services, Mahindra CIE Automotive, Network18 Media & Investments, Newgen Software Technologies, Polycab India, Schaeffler India, Tata Communications, Tinplate Company of India, and TV18 Broadcast will declare their quarterly earnings on October 18.
Tata Coffee: The company recorded a 172% year-on-year growth in consolidated profit at Rs 147 crore for the quarter ended September FY23 driven by improved performance of plantation and instant coffee businesses and one-time exceptional income on disposal of a non-core property. Consolidated revenue increased by 31% YoY to Rs 718.3 crore during the quarter led by higher realisations in all businesses.
JMC Projects (India): The company has raised Rs 75 crore via NCDs as it has allotted 750 non-convertible debentures of the face value of Rs 10 lakh, on private placement basis. The said NCDs will be listed on wholesale debt market segment of the BSE.
Aster DM Healthcare: Subsidiary Aster Pharmacies Group LLC entered into a joint venture agreement with Abdulmohsen Al Hokair Holding Group to establish, manage and operate pharmacy chain across the Kingdom of Saudi Arabia to market and commercialize pharmaceutical products under the ‘Aster Pharmacy’ brand.
SJVN: Subsidiary SJVN Green Energy and Assam Power Distribution Company (APDCL) has signed a Memorandum of Understanding (MoU) to develop 1,000 MW floating solar power projects in Assam.
Spandana Sphoorty Financial: The non-banking finance company has turned profitable with Q2FY23 net at Rs 49.5 crore against loss of Rs 222.68 crore in previous quarter and loss Rs 58.87 crore in Q2FY22. Revenue fell 24.5% year-on-year to Rs 281 crore, but grew by 21% sequentially.
Maharashtra Seamless: The company has appointed Sarat Kumar Mohanty as Chief Financial Officer and recommended issue of bonus shares in the ratio of one bonus equity share against one existing share, subject to approval of shareholders. Its consolidated profit for the quarter ended September FY23 grew by 86% to Rs 176.6 crore compared to year-ago period and revenue increased by 49% to Rs 1,414.2 crore during the same period.
Indowind Energy: The company reported consolidated profit at Rs 3.91 crore for the quarter ended September FY23, up 587% on strong topline. Revenue during the quarter grew by 65% to Rs 14.7 crore compared to corresponding period last fiscal. In the half year ended September FY23, consolidated profit increased by 249% to Rs 5.61 crore and revenue rose by 48% to Rs 22.5 crore compared to same period last year.
Ashiana Housing: The company has acquired a piece of additional land admeasuring 2.26 acres on perpetual basis from Mahindra Lifespaces within the township of Mahindra World City at Chennai (Tamilnadu). Total acquisition of land alongwith the above said land now stands at 17.90 acres.
Star Housing Finance: The company said the board of directors approved sub-division of one share (face value Rs 10) into two fully paid-up shares (face value Rs 5), and issue of one bonus equity share for every one fully paid-up equity share.
Moneycontrol News
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