Stocks in news: Jio Financial, Grasim, Bajaj Finance, Tata Power and more

The domestic equity market closed lower on Monday. Sensex fell 116 points to 66,166 and Nifty ended 19 points lower at 19,731.

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

Jio Financial Services

The stock is in news today as the company's quarterly profit doubled from the previous quarter. Consolidated profit after tax for the September 2023 quarter rose to Rs 668 crore from Rs 332 crore in the June quarter, JFS said in a regulatory filing.

Grasim Industries

The Board cleared raising of Rs 4,000 crore via rights issue. The record date for the same will be announced later. The board “inter-alia approved the raising of funds by way of issue of equity shares of face value of Rs 2 each through rights issue for an amount not exceeding Rs 4,000 crore to the eligible equity shareholders of the company as on the record date (to be determined in due course), subject to receipt of regulatory/statutory approvals,” Grasim Industries said in a regulatory filing.

Delta Corp

BofA Securities Europe SA has offloaded 30.08 lakh equity shares in the casino gaming company through open market transactions at an average price of Rs 127.97 per share. Societe Generale sold 13.58 lakh shares at an average price of Rs 128.48 per share amounting to Rs 55.9 crore.

Earnings today

Bajaj Finance, L&T Technology Services, Can Fin Homes, Happiest Minds Technologies, ICICI Prudential Life Insurance Company, Tata Elxsi, Tata Metaliks, IIFL Securities, CIE Automotive India, Hathway Cable & Datacom, Himadri Speciality Chemical, Newgen Software Technologies, PCBL, Syngene International, Vikas Lifecare, VST Industries, and Zensar Technologies are in focus ahead of their quarterly earnings today.

HDFC Bank

HDFC Bank reported a 51% rise in standalone net profit at Rs 15,976 crore for the July-September quarter. It posted a standalone net profit of Rs 10,606 crore in the year-ago period.

ICICI Securities

The company reported a 41 percent rise in profit (year-on-year) to Rs 423.6 crore. Revenue climbed 45.5 percent to Rs 1,249 crore compared to the year-ago period. EBITDA (earnings before interest, tax, depreciation and amortisation) rose by 54.8 percent YoY to Rs 810 crore with margin expanding 390 bps to 64.9 percent for the quarter. The firm has cleared an interim dividend of Rs 12 per share.

CEAT

The tyre company logged a consolidated profit of Rs 208 crore in Q2, against Rs 7.8 crore profit in the corresponding period last year, led by healthy operating numbers with a fall in input cost. Revenue from operations climbed 5.5 percent YoY to Rs 3,053.3 crore in Q2.

Tata Power

Tata Power’s subsidiary Tata Power Renewable Energy has inked a power delivery agreement (PDA) with auto component manufacturer Endurance Technologies via a special purpose vehicle (SPV) TP Green Nature, for the development of 12.5MW AC captive solar plant. The plant will be set up at Aachegaon in Maharashtra and will generate 27.5 million units (MUs) of electricity every year.

KEC International

The RPG Group company has won new orders worth Rs 1,315 crore across its various businesses including transmission & distribution projects in India, the Middle East, Australia and the Americas.

Cyient DLM

The electronic manufacturing services and solutions company logged a 106.4 percent year-on-year growth in profit at Rs 14.6 crore in Q2, led by other income and topline. Revenue from operations climbed 71.5 percent YoY to Rs 291.8 crore for the quarter.

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