Stocks to watch: Vedanta, Tata Chemicals, Adani Green, SBI Cards, Texmaco | Rare Techy

Vedanta: Cairn Oil & Gas, a unit of Vedanta Ltd has secured the approval of the union ministry of petroleum and natural gas (MoPNG) to extend the production sharing contract (PSC) for its Rajasthan block till May 2030. period of 10 years, from May 2020 to May 2030. The initial permit for the exploration and production of oil and gas from the Barmer block expired on May 14, 2020. oil and gas from the block as well as accommodation ₹5,651 crore dispute on cost recovery for the same.

Tata Chemicals: Tata Chemicals on Thursday reported a near tripling in consolidated net profit. ₹628 crore for the September 2022 quarter on additional revenue. The profit of the company stopped ₹221 crore in the same quarter a year ago, Tata Chemicals said in a regulatory filing. Net income increased by 39.62 percent ₹4,299 billion in the quarter against ₹3,079 crore during the previous year.

Green Adani: Adani Green Energy said it has received shareholders’ approval to appoint Ahlem Friga Noy as a non-executive director and nominee in the company. The company’s shareholders approved the appointment of Ahlem Friga Noy as a director (non-executive, nominee director) at the company’s Extraordinary General Meeting (EGM) held on Wednesday, October 26, 2022.

SBI Cards and Payment Services: SBI Cards and Payment Services Ltd (SBI Card) on Thursday reported a 52% increase in its net profit. ₹526 crore for the quarter ended September on higher revenue. The clean credit card company promoted by the country’s largest lender State Bank of India (SBI) has reported a net profit. ₹345 crore in the previous quarter of a year ago. Total revenue increased by 28 percent in the second quarter of the current fiscal ₹3,453 billion from ₹2,695 crore a year ago, SBI Card said in a regulatory filing.

Indigo/SpiceJet: Airlines SpiceJet and IndiGo have approved their proposals to take up aircraft on wet lease to meet increased demand in the winter schedule starting from October 30. In general, wet leasing of aircraft is allowed for short periods of time due to supply constraints and to ensure that airfares do not increase too much.

Jubilant Industries: Milk and ice cream brand Keventers, operated by Super Milk Products Private Limited (SMPPL), on Thursday announced an equity investment from Jubilant Bhartia Group for an undisclosed amount. The investment is expected to help Keventers accelerate its plans to open more than 300 stores in the next three to four years with the added aim of growing its ice cream business.

PNB Housing Finance: PNB Housing Finance reported a net profit on Thursday ₹263 billion for the three months to September, up 12% from the same period last year, on the back of higher income. Its net interest income (NII) improved 29% year-on-year (y-o-y) and 75% sequentially. ₹649 billion. In three months, the operating expenses of the borrower increased by 15% and by 11% in the quarter of three months (qoq). ₹136 billion. Its pre-supply operating profit improved by 35% ₹584 billion.

Newgen Software Technologies: Marathon Edge India Fund I bought shares of Newgen Software Technologies on Thursday ₹69 crore through an open market transaction. Marathon Edge India Fund has bought 20,00,000 shares, representing a 2.85% stake in the company, according to major trading data available with the National Stock Exchange (NSE). The shares were acquired at an average price ₹345 each, carrying the transaction value ₹69 billion.

Texmaco Rail and Engineering: Texmaco Rail and Engineering Ltd Thursday bag a ₹252.88 crore contract to provide a standard ballastless track for the Indore Metro Rail project, a company official said. The contract was awarded by Madhya Pradesh Metro Rail Corporation Limited (MPMRCL). Texmaco Rail was the lowest bidder to beat Larsen & Tubro’s ₹262.32 billion bid, the official said.

Tamil Nadu Mercantile Bank: Tamilnad Commercial Bank (TMB) on Thursday reported a 37 percent increase in net profit in ₹262 crore for the July-September quarter for FY23 on revenue growth and decline in bad loans. The bank had earned a net profit ₹191 billion for the year-ago period. This is the first quarterly results after the Tamil Nadu-based bank’s shares were listed on the bourses last month.