Title: Stocks in the news: Tata Motors, Tata Steel, JP Associates, Raymond, Dilip Buildcon, BPCL and Sun TV
NEW DELHI: Nifty futures on the Singapore Exchange were trading 44.50 points, or 0.40 per cent, lower at 11,050.50, indicating a negative start for the Nifty50. Here are a few stocks which may buzz the most in today’s trade:
Tata Steel, BPCL to report Q3 results
Tata Steel, BPCL, REC, GIC, Jaiprakash Associates, Sun TV, NHPC, Gujarat State Petronet, Gujarat Gas, Engineers India, Dilip Buildcon, VIP Industries, UCP Bank, Avanti Feeds, Balkrishna Industries, Dr Lal Pathlabs, Garden Reach Shipbuilders, Thermax, are among companies set to announce their December quarter results on Friday.
Tata Motors: Tata Motors, India’s largest automaker by revenue, posted its highest quarterly loss of .Rs 26,961 crore due to a one-time impairment charge of £3.1 billion (.Rs 27,838 crore) on account of its dominant UK-based Jaguar Land Rover (JLR) unit, which has been hit by a sales slump in China and faces headwinds such as Brexit.
ADAG shares: According to the bulk deal data on the NSE, L&T Finance sold 2 crore shares of Reliance Communications at Rs 5.14 per share and sold 77.87 lakh shares of Reliance Capital at Rs 123.89 apiece. L&T Finance sold 49 lakh shares of Reliance Infrastructure at Rs 120.98 per share and 6.25 crore shares of Reliance Power at Rs 10.8 per share.
SAIL: Steel Authority of India’s (SAIL) net profit of Rs 616 crore in Q3 FY19 zoomed up 14-fold from Rs 43 crore in the corresponding period last year beating street estimates, the company said. Net profit improved more than 11 per cent over Q2FY19 to Rs 554 crore.
Marico: Hair and edible oil maker Marico has entered into a licensing arrangement with grooming chain Kaya to launch a new range of skincare products under the eponymous brand about five years after it was demerged from the maker of Saffola and Parachute.
Shriram EPC: Engineering services company Shriram EPC said it has bagged three orders aggregating to Rs 291.57 crore from the Jharkhand government.
Raymond: A digital news platform reported that in the last four financial years (2014-2018), JK Investors, an entity in which Singhania holds 91 per cent bought goods worth Rs 993 crore from Raymond and sold goods worth Rs 1,613 crore back to the company.
GAIL: Gail has set up a satellite liquefied natural gas (LNG) terminal in Bhubaneswar to supply local customers in the absence of a gas pipeline — an innovative model that may get replicated by other city gas distributors eager to quickly start supply in new licence areas where gas pipelines are yet to reach.
Grasim Industries: The company posted a 45 per cent increase in consolidated net profit for the third quarter, driven by the healthy performance of group company UltraTech and the standalone business of textile and chemicals.
Steel stocks: Steel prices may go up as major players are planning upward price revision, industry sources said. JSW Steel has already hiked the prices by Rs 750 a tonne.Another steel company JSPL will also hike the prices "if others will do", a company official who did not wish to be quoted said.
Britannia Industries: FMCG major Britannia Industries Thursday reported 13.81 per cent rise in consolidated net profit to Rs 300.07 crore for the third quarter ended December 31, driven by sales growth and cost efficiency.
Suzlon Energy: Suzlon Energy's consolidated net loss widened to Rs 40.07 crore in the December 2018 quarter compared to the year-ago period, mainly due to lower revenues, higher forex loss and finance costs.
Gillette India: The company reported a 9.15 per cent decline in net profit to Rs 53.39 crore for the quarter ended on December 2018 impacted by cost inflation, expiry of tax benefits and higher marketing spend.