Stocks in news: Nykaa, Adani Enterprises, Coforge, Icra and more

Domestic equity markets kicked off the week on a negative note and extended their weakness for the second straight session on Monday. Sensex dropped 250.86 points, or 0.41 per cent, to 60,431.84. Nifty50 also declined 85.60 points, or 0.48 per cent, to 60,431.84. Broader markets underperformed the headline peers as BSE midcap and smallcap indices fell over a per cent, each. India VIX spiked more than 7 per cent to 13.68-level.

Here’s a look at stocks that are likely to remain in news today.

Nykaa: The online fashion retailer reported a 68% year-on-year fall in consolidated net profit to Rs 9 crore for the quarter ended December. Revenue from operations surged 33% year-on-year to Rs 1,462 crore in Q3.

ZEEL: Media company Zee Entertainment's consolidated net profit fell 91% year-on-year to Rs 24 crore in Q3. Total income in Q3 was flat at Rs 2,127 crore.

Ahluwalia Contracts: The company logged a net profit of Rs 45 crore for the quarter ended December against Rs 42 crore in the corresponding quarter of last year. Revenues surged 9% year-on-year to Rs 743 crore in the third quarter.

Krsnaa Diagnostics: The firm reported a net profit of Rs 14 crore for the quarter ended December against Rs 16 crore in the corresponding quarter of the last year. Revenues rose 11% year-on-year to Rs 118 crore in the third quarter.

Icra: Profit after tax climbed 26% to Rs 39.2 crore from Rs 31 crore for the corresponding quarter of the previous year. Consolidated revenue from operations rose 19% to Rs 103 crore for the third quarter ended December.

Power Finance Corporation: Net profit rose 8% year-on-year to Rs 3,860 crore in the three months ended December period, while net interest income is down 7% to Rs 7,218 crore.

Hindustan Composites: The firm posted a net profit of Rs 5.4 crore for the December quarter as against Rs 10 crore in the same quarter of last year. The company's revenue from operations rose 5% to Rs 69 crore in the third quarter.

Kotak Mahindra Bank: The private sector lender is considering selling a minority stake in its general insurance unit, Bloomberg reported. The lender is working with Morgan Stanley on the potential sale of a stake in Kotak General Insurance which could raise as much as a few hundred million dollars.

Adani Enterprises : The flagship firm of Adani Group will announce its third quarter results on Tuesday.

Coforge: Promoter Hulst B V has offloaded about 9.83% of his stake or 60 lakh shares in Coforge at Rs 4,050 per share, according to block deal data from NSE. The buyers include Nomura India, Kuwait Investment Authority and Aditya Birla Sun Life.

Power Finance Corporation: The public sector company has logged a 7.8% year-on-year rise in consolidated profit at Rs 3,860 crore in Q3 led by a write-back of impairment on financial instruments. Net interest income for the quarter at Rs 7,218.7 crore fell 7.1% compared to year-ago period. The board has declared an interim dividend of Rs 3.50 per share for FY23.

NLC India: The coal mining company has reported a consolidated loss of Rs 406.7 crore for December FY23 quarter hit by regulatory deferral account balances expenses, against profit of Rs 231.1 crore in year-ago period.

Steel Authority of India: The steel firm has logged a 64.5% YoY fall in profit at Rs 542 crore for quarter ended December FY23, led by lower topline and operating income. Revenue for the quarter at Rs 25,042 crore fell by 0.8% compared to same period last year.

GR Infraprojects: The construction engineering company has logged a 122.5% YoY growth in consolidated profit at Rs 323.6 crore for the December FY23 quarter, led by strong operating performance. Revenue for the quarter rose 12% YoY to Rs 2,192 crore.

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