Stocks in news: ITC, Adani Ports, Tata Steel, Nykaa, Vodafone Idea, HDFC Bank & CarTrade

A host of companies including ITC Ltd, Vodafone Idea Ltd and Indiabulls Housing Finance Ltd will be reporting their June quarter results on Monday. HDFC Bank would be in focus after its AGM while shares of FSN E-Commerce Ventures Ltd (Nykaa) and ONGC would be in focus following their Q1 earnings. Shares of CarTrade will track the company's announcement of acquisition while Mahindra EPC Irrigation will be in focus on bagging orders. Here're the full details:

ITC, Vodafone Idea, Indiabulls Housing Finance

ITC Ltd, Vodafone Idea Ltd, Indiabulls Housing Finance, KNR Constructions Ltd, AstraZeneca Pharma India, Wockhardt Ltd, Saksoft Ltd, Uflex and Grindwell Norton are among a handful of companies that will announce their quarterly results today.

Adani Ports & SEZ

Top professional services firm MSKA Associates, an affiliate of BDO International, will succeed Deloitte Haskins & Sells LLP as statutory auditor of Adani Ports & SEZ (APSEZ), according to a statement by the company, a media report suggested.

HDFC Bank

HDFC Bank chief Sashidhar Jagdishan on Friday said funding will remain the biggest risk after the HDFC Bank and HDFC merger. Speaking at the first annual general meeting of the newly merged entity, Jagdishan said the merged entity's primary risk pertains to funding. He added that the net interest margins (NIM) for the bank will drop September quarter onwards as the mortgage book of Housing Development Finance Corp (HDFC) carries a lower spread. In the April-June quarter, HDFC Bank’s net interest margin stood at 4.1 per cent.

Nykaa

FSN E-Commerce Ventures Ltd (Nykaa) on Friday reported an 8 per cent year-on-year (YoY) rise in net profit at Rs 5.40 crore for the June quarter on 24 per cent YoY rise in revenue at Rs 1,421.80 crore, the company said in a BSE filing. Nykaa said profit figure included share of loss of an associate. Ebitda for the quarter surged 60 per cent YoY to Rs 73.50 crore, with Ebitda margin coming in at 5.2 per cent, up 116 basis points over 4 per cent in the year-ago quarter.

CarTrade

The online auto platform CarTrade announced the completion of 100 per cent acquisition of OLX's classified and auto business in India for Rs 535.54 crore. OLX, one of the country's leading classified players with more than 100-plus million app downloads, operates in 12 broad categories including cars, bikes, real estate, electronics, etc.

Tata Steel

Tata Steel - which is in an expansion mode in India - is not so keen on any other new acquisitions, the company CEO T V Narendran has said. The statement from Narendran has come amid Vedanta Ltd reviewing and evaluating its steel and steel-making raw materials businesses, PTI reported.

ONGC

Oil and Natural Gas Corporation (ONGC) has reported results for first quarter ended June 30. On consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 17,382.97 crore for the first quarter ended June 30 compared with Rs 8,580.75 crore for the same quarter in the previous year. However, total income of the company decreased by 9.66 per cent at Rs 166,367.12 crore compared with Rs 184,151.13 crore for the corresponding quarter previous year.

Info Edge

Info Edge (India) has reported results for first quarter ended June 30. The company has reported 34.68 per cent rise in its net profit at Rs 199.90 crore for the quarter under review as compared with Rs 148.43 crore for the same quarter in the previous year. Total income of the company increased 16.84 per cent at Rs 642.09 crore compared with Rs 549.53 crore for the corresponding quarter previous year.

Mahindra EPC Irrigation

Mahindra EPC Irrigation has bagged two contracts from Office of the Executive Engineer, Water Resource Division for Construction of Underground Pipeline system for Command Area Development and Water Management Structures for 3100.00 Ha.; and for Construction of Underground Pipeline system for Command Area Development and Water Management Structures for 3150.00 Ha. Broad consideration or size of the contracts is approximate Rs 28.76 crore inclusive of taxes.

Indus Towers

The telecom tower company Indus Towers has deployed 200,000 macro towers spread across all 22 telecom circles in India as on date, the company said in a statement Friday.

Inox Wind

Inox Wind (IWL) has raised Rs 297.50 crore though the allotment of aggregate 29,75,00,000 - 0.01 per cent Non-Convertible, Non-Cumulative, Participating, Redeemable Preference Shares (NCPRPS) of Rs 10 each of the Company, fully paid-up, at par, on private placement basis to Inox Wind Energy, Holding and Promoter Company. ‘IWL Committee of the Board of Directors for Operations’ of the Company in their meeting held on August 10, and August 11, 2023 has allotted the same.

DroneAcharya Aerial Innovations

DroneAcharya Aerial Innovations has been awarded a tender on August 10,2023 from the Karnataka State Remote Sensing Applications Centre (KSRSAC) which is a Nodal Agency for implementation of Remote Sensing (including Photogrammetry) and GIS programmes in the State of Karnataka.

Shipping Corporation Of India

Shipping Corporation Of India (SCI) has sold its 1 Product Tanker ‘M.T. Sampurna Swarajya’ on ‘as is where is what is’ basis on August 11, 2023 at Ennore Anchorage (Tamilnadu). The vessel was physically handed over to the Buyers representative at Ennore Anchorage (Tamilnadu).

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