Stocks in news: Tata Steel, Suzlon Energy, Adani Enterprises, Reliance Industries, SBI and more

The domestic equity market closed lower on Wednesday. Sensex fell 283 points to end the session at 63,591 and Nifty lost 90 points to settle at 18,989.

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

Tata Steel

The company reported a consolidated net loss of Rs 6,196.24 crore (attributable to owners of the company) in July-September quarter of FY23-24. The steel maker logged a consolidated net profit of Rs 633.95 crore in the September quarter of FY23.

REC

REC reported a 38.71% year-on-year rise in its consolidated net profit for the quarter ended September to Rs 3,789.90 crore. “Owing to the improving asset quality, increase in lending rates and effective management of Finance Cost, REC is able to record its highest ever quarterly profit," the company said.

Britannia Industries

Britannia Industries clocked a 19 per cent rise in consolidated net profit to Rs 587 crore, compared to Rs 490.6 crore in the corresponding period last year. The FMCG major's revenue from operations rose 1.2% to Rs 4,433 crore compared to Rs 4,379.6 crore in the year-ago period.

Indraprastha Gas

The gas firm logged a 29.5% rise in its consolidated net profit at Rs 553 crore in the July-September quarter of FY 23-24. Revenue fell 2.5% to Rs 3,822 crore in the September quarter against Rs 3,922.02 crore in the year ago period.

JK Tyre

The firm logged a 371 per cent rise in consolidated net profit at Rs 242 crore, compared to Rs 51.31 crore in the corresponding period last year. The leading tyre manufacturer's revenue climbed 3.8% to Rs 3,897.53 crore in the second quarter of current fiscal compared to Rs 3,756.52 crore in the year-ago period.

State Bank of India

SBI has raised Rs 10,000 crore at a coupon rate of 7.81 percent, through its first Basel III compliant Tier 2 bond for the current financial year. The bonds are issued for 15 years tenor, with the first call option after 10 years.

Earnings Today

Tata Motors, Adani Enterprises, Adani Power, Dabur India, Berger Paints India, Bombay Dyeing, Cholamandalam Investment, Container Corporation of India, Godrej Properties, Gujarat Gas, Indian Energy Exchange, Indian Railway Finance Corporation, JK Lakshmi Cement, Kalpataru Projects International, Karnataka Bank, Minda Corporation, and Suzlon Energy are in news ahead of quarterly earnings on November 2.

Bajaj Finance

The non-banking finance company said its board has cleared the issue of 15.5 lakh warrants to the promoter Bajaj Finserv, at an issue price of Rs 7,670 per Warrant, amounting to Rs 1,188.85 crore.

Bondada Engineering

The company has received a work order worth Rs 381 crore from Bharat Sanchar Nigam. It will provide infrastructure as a service (IaaSP) for the supply and erection of GBT, supply installation of infrastructure items and subsequent operation & maintenance for 5 years.

Reliance Industries

Reliance Industries is planning to raise Rs 15,000 crore via the sale of a local-currency bond according to a Bloomberg report.

Godrej Consumer Products

The FMCG major reported a 20.59% rise in its net profit to Rs 432.77 crore in the September quarter of FY23-24. Its revenue stood at Rs 3,602 crore in the quarter under review.

Hero MotoCorp

Hero MotoCorp reported a 47% rise in net profit to Rs 1,054 crore in Q2 compared to Rs 716 crore reported in the year-ago period.

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