Hinduja Group, RIL, SBI, LIC, M&M, Hindalco, KRBL, AND NDTV Continue to Watch in 2022. | Rare Techy
Hinduja Group, RIL, SBI, LIC, M&M, Hindalco, KRBL, and NDTV are set to eye 2022.
The major benchmarks are within striking distance of record highs reached in 2022 after Friday’s rapid rise. NDTV and Astro have joined forces to launch a 24-hour news service in Malaysia and Indonesia. Current market sentiment seems to be helped by fresh FII buying and expectations of a slower rate hike by the US Fed in stocks.
Nifty to open trade on Monday on a flat note, following the lead of its international counterpart. SGX Nifty contracts were trading at 18,453 at 7:10 AM, representing the first gain of almost 30 on the Nifty benchmark.
The stocks listed below are likely to see some trading activity today. Due to the September quarterly report, Apollo Tyres, Bharat Foundry, Grasim, Indiabulls Mortgage Loans, IRCTC, MMTC, MTNL, SpiceJet, and Strides Pharma will be under watch for earnings.
Now that the gazillionaire brothers have ended their political battle, which threatened the fate of the family company of imperial power and made it the richest family in the United Kingdom, the income of the Hinduja Group, which includes Ashok Mclaren, Idbi, Nxtdigital, K Raheja World. – Comprehensive remedial measures, Gulf Oil Lube, and the GOCL Corporation entity, are likely to be under consideration.
Leyland, Ashok Hinduja Group Executive Chairman, Dheeraj Hinduja, claims that electric vehicle division Switch Transportation is in talks with foreign shareholders to finance a million dollars and is ready to divest up to 15% interest in Switch Mobility.
Ashok Leyland: According to Dheeraj Hinduja, CEO, Hinduja Group’s electric motor division, Switch Mobility, is in discussions with external shareholders to raise $200 million and is ready to sell up to 15% of Switch Mobility’s stake.
Ashok Leyland, meanwhile, again posted a net income of Rs 199 crore for the second quarter of the current financial year 2022–23, compared to a cost of Rs 83 crore for the same period last year.
RIL, or Reliance Industries: The Mukesh Ambani-led company was awarded the contract by the Ministry of Road Transport and Highways to build India’s first MMLP near Chennai. According to informed sources, RIL’s entry into multi-modal logistics parks (MMLP) is a natural expansion for the company, given its growing ambitions in existing industries like retail.
SBI: State Bank of India is pursuing an offer of up to 200 million euros in public funding from the European Investment Bank after securing a €1.2 billion credit line for solar finance from a German finance company.
CRBL: Under the Indian Gate brand, the company hopes to expand the distribution of its premium non-basmati varieties of Kolam, M/s Masuri, & Gobindobhog on a national and international scale. KRBL Limited, the company that produces the well-known India Gate rice, intends to expand both the domestic and global market for its regional premium non-basmati varieties of Kolam, Sona Masuri, & Gobindobhog.
Mahindra & Mahindra (M&M): The automotive sector titan reported better-than-expected results for the third quarter to the end of September 30. Its stand-alone net income (after exceptional items) increased by 46 percent due to strong sales of its SUVs and solid results from its agricultural machinery business.
(M&M) posted better-than-expected results for the three months ended September 30. Sales figures for its SUVs and strong performance in the agricultural equipment sector boosted its standalone net profit (after extraordinary items) by 46% year-on-year (YoY). The automobile, agricultural equipment, and vehicle industries increased their combined net profit by 44 percent.
Compared to the year-ago period, the ScorpioN & XUV700 maker’s net profit rose to Rs 2,090 crore from Rs 1,433 crore, while its revenue rose 57% to Rs 20,839 crore from Rs 13,314 crore. Earnings exceeded Wall Street forecasts. Net profit on revenues of Rs 20,423.70 crore was expected at Rs 2,041.80 crore, according to a Bloomberg survey of 16 brokerages.
“Beyond the last quarter, our asset recovery process will continue with the transactions disclosed in Qtr,” Anish Shah, M&M’s chief executive officer and president, said during a call with reporters after the company’s quarterly earnings release.
He was referring to Ontario Teachers’ investment in Susten, the group’s renewable energy subsidiary, and the partnership between Mahindra Lifespace Developers and Actis. This is an element of the group’s overall strategy to “build diamonds and value growth.”
The second period of FY23, which ran from July to September, saw multi-fold growth for the government-run Life Insurance Corporation (LIC) of India. In Q2, net profit increased eleven times from Rs. 1,433.71 crores in the same quarter last year to Rs. 15,952.49 crores in Q2. The reason for this change in the calculation process was the transfer of 14,271.80 million dollars from the account of the owners. For the months of July to August (Q2) of FY23, the state-run Insurance Corporation (LIC) saw a multi-fold increase in net profit.
Due to a change in the company’s accounting practices, Rs 14,271.80 crore was transferred to the owner’s account from a certain half. In Q2, the net profit was 15,952.49 crores, eleven times against 1,433.71 million in the same quarter last year. The insurer had recorded a net profit of Rs. 682.88 kroner in the next quarter.
“The company has changed its accounting policy as per further notification of Irdai (Insurance Regulatory Development Agency of India) and subsequent approval of the board of directors. From almost the owner’s account, 14,271.80 crores (net of tax) has been transferred. According to LIC’s notification of on Friday, this led to a rise in profit for the three months or half-year ending in September 2022.
Aditya Birla Group’s flagship business, Hindalco, has reported a 35.5% year-on-year decline in consolidated net profit to Rs 2,205 crore for the third quarter of 2019 due to rising energy costs and lower aluminum prices. Although earnings beat expectations, revenue for the quarter, which stood at Rs 2,384 crore, was lower than what experts had estimated.
Aditya Birla Group flagship Hindalco on Friday reported a 35.5% year-on-year (YoY) loss in total net income for the three months to September (Q2FY23), to Rs 2,205 crore due to higher energy costs. and lower aluminum prices. In the quarter under review, Hindalco’s operating income rose 18% to Rs 56,176 crore. Bloomberg estimated revenue at Rs 43,576 crore.
NDTV: The businessman and his subsidiary NDTV Networks have decided to postpone the sale of their 20% stake in Astro Awani Network, a Malaysian media company. The channels went live a year later, in 2006. Media company Astro Awani Net, which owns 20% of Malaysia’s New Delhi Television, has postponed its planned sale, the company and its subsidiary NDTV Net said on Friday. NDTV and Astro have formed a joint venture to create a 24-hour news service in Malaysia and Indonesia. The channels went live a year later, in 2006.
According to an NDTV report from the stock exchanges, the National Bureau of Investigation (CBI) has denied its approval for the sale agreement proposal. According to NDTV, the business is currently evaluating its legal options and will proceed if necessary.
Fortis Health: The company recorded a 9.9 percent increase in revenue to Rs 1,607 crore in the first fiscal quarter and a 27.9 percent increase in profit to Rs 166 crore in the first fiscal quarter. Net profit rose 67 percent to Rs 218 crore. As a result Q2FY23 and H1FY23 a one-time recovery of Rs 51.6 billion was made related to reversal of loss in a joint venture. Fortis Healthcare recorded a 9.9% increase in revenue at Rs 1,607 crore and a 27.9% increase in profit after tax (before exceptional items) to Rs 166 crore in the third quarter of this financial year.
Reported profit after tax increased by a whopping 67% to Rs 218 crore. An extraordinary gain of Rs 51.6 crore, related to reversal of loss in an associate Company, is included in the financial statements for Q2FY23 and H1FY23.
Revenues from the hospital sector were Rs 1,297 crore in Q2FY23 compared to Rs 1,098.5 crore in Q2FY22 and 1,192.4 cents of the total in Q1FY23. Higher occupancy, a stronger product mix, and a 164 percent increase in overseas patient revenues compared to the comparable prior quarter were the main drivers of the hospital’s revenue gain of 18.1 percent compared to the corresponding quarter.
Emami: The business reported a consolidated net profit of Rs 184.18 crore for the third quarter, a slight decline from the same period last year’s net profit of Rs 185.27 crore. According to the business, excessive sales of painkillers last year led to a poor portfolio mix and a 230 bps decline in gross margins in Q2FY23.
Suryoday Small Finance Bank (SFB): Compared to the same period a year ago, the bank posted a net profit of Rs 13 crore in the July-September quarter. The bank’s net profit increased by 67.7% from 7.75 million in April-June. GNFC and PNB are the only equities that are under F&O embargo on Monday.
edited and corrected by nikita sharma