Stocks in focus: Tata Steel, Sun Pharma, GAIL India, RITES, SBI Card and more

The domestic equity market closed lower on Tuesday. Sensex fell 238 points to end the session at 63,874 and Nifty lost 61 points to settle at 19,079.

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

Bharti Airtel

Telecom firm Bharti Airtel reported a 37% fall in net profit to Rs 1,341 crore in Q2 of this fiscal due to a one-time charge of Rs 1,570 crore. The telco reported a consolidated net profit of Rs 2,145 crore in the year-ago period.

L&T

Larsen & Toubro Ltd clocked a 45% rise in consolidated net profit at Rs 3,223 crore in Q2 led by strong demand in its mainstay infrastructure projects segment. It reported a consolidated net profit of Rs 2,229 crore in the year-ago period.

SBI Card

SBI Card and Reliance Retail have joined hands to launch the co-branded 'Reliance SBI Card'. "This one-of-its-kind lifestyle-focused credit card offers a holistic and rewarding shopping experience to customers across segments with varied spending needs, right from mass to premium," a joint statement said.

RITES

RITES reported a 23.49 per cent fall in second-quarter earnings for the financial year 2023-24 (Q2 FY24). The railway engineering consultancy’s consolidated net profit fell to Rs 101 crore in the September 2023 quarter against Rs 132 crore in the year-ago period. Revenue from operations slipped 11.68 per cent to Rs 582 crore in Q2 FY24 from Rs 659 crore in the corresponding period last year.

GAIL India

GAIL (India) reported a 56% rise in standalone profit for the quarter ended September 2023 on Tuesday. Net profit rose to Rs 2405 crore in Q2 against profit of Rs 1537.07 crore in the September 2022 quarter. However, GAIL's total revenue fell 17.32% to Rs 31,822.62 crore in Q2 against Rs 38490.89 crore in the corresponding period of the preceding fiscal.

Earnings today

Hero MotoCorp, Tata Steel, Sun Pharmaceutical Industries, Britannia Industries, Ambuja Cements, Adani Wilmar, Cera Sanitaryware, Fino Payments Bank, Godrej Consumer Products, Indraprastha Gas, India Cements, JK Tyre & Industries, Kansai Nerolac Paints, KEC International, LIC Housing Finance, Motilal Oswal Financial Services, Plaza Wires, REC, Triveni Turbine, and Unichem Laboratories are in news ahead of their quarterly earnings on November 1.

Tata Consumer Products

The FMCG firm clocked a 3.1 percent year-on-year growth in consolidated profit at Rs 338.2 crore for the quarter ended September FY24. Revenue climbed 11 percent to Rs 3,734 crore compared to corresponding period last fiscal YoY and rose 10 percent in constant currency.

Lupin

The pharma firm has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (US FDA) for its Mandideep unit-2 manufacturing facility. The EIR was issued after the last inspection of the facility was conducted during August 7 and August 11, 2023. The inspection closed with the facility receiving an inspection classification of 'no action indicated' (NAI).

Blue Jet Healthcare

The pharma company will make its market debut on BSE and NSEtoday. The final IPO issue price was fixed at Rs 346 per share. Allotment of shares in the IPO was done on October 30.

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