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Stocks to watch: M&M, Nykaa, SAIL, Sun Pharma, NALCO, Oil India, Tata Steel
Stocks to watch today: SAIL, Nykaa, Power Finance Corporation, Gujarat Gas, Castrol India, Campus Activewear will report the October-December quarter (Q3FY23) results
Stocks to watch today: Domestic markets are likely to start Monday's trade on a tepid note, ahead of crucial inflation data, amidst sombre global sentiments.
As of 7:15 am, the SGX Nifty stood at 17,829 levels, down nearly 50-odd points.
Globally, the US equity futures were subdued this morning as Dow Jones Futures, NASDAQ Futures, and the S&P 500 Futures dropped up to 0.6 per cent.
Asia-Pacific markets, too, fell in tandem as investors eye macro economic data releases this week.
Besides, back home, stock movement in Adani Group companies, rupee, foreign fund flow action, will guide investors' sentiment.
Meanwhile, here are top stocks likely to see action in Monday's trade:
Earnings today: SAIL, Nykaa, Power Finance Corporation, Gujarat Gas, Castrol India, Campus Activewear, GR Infraprojects, Borosil Renewables, Zee Entertainment, among others will report the October-December quarter (Q3FY23) results.
M&M: The automaker is likely to roll out its first electric vehicle from Zaheerabad plant in Telangana by 2024. The management said that the manufacturing facility will be utilised for new product development and new electric vehicles. Both e-autos and e-Jeeto will be manufactured in the plant. READ MORE
Sun Pharma: The drug major recalled over 34,000 bottles of generic medication, used to treat high blood pressure in the US market, due to failed dissolution testing. The company had produced the lot at its Halol-based manufacturing facility in Gujarat. The affected lot was later distributed in the market by its US-based unit. READ MORE
Tata Steel: Managing director and CEO TV Narendran said that the merger of seven subsidiary companies with Tata Steel is expected to be complete in 2023-24 fiscal year. Earlier, the board had approved proposal to merge subsidiaries into itself for greater synergies, higher efficiency, and reduced costs. READ MORE
NALCO: The company clocked net profit of Rs 284 crore in Q3FY23, as against Rs 170 crore in the year-ago period. Despite strong production growth, lower sales volume, higher input costs, and challenging global environment affected profit margins. However, the management expects the situation to improve in Q4FY23 as prices firm up. READ MORE
Glenmark Pharma: The company reported 21.3 per cent rise in consolidated profit after tax at Rs 290.8 crore in Q3FY23 from Rs 239.8 crore in Q3FY22. Consolidated revenue, too, was up 9.2 per cent to Rs 3,463.9 crore during the quarter. The company said the India business continued to see strong increase in secondary sales. READ MORE
Brigade Enterprises: The realty firm's sales bookings increased 48 per cent to Rs 1,009.7 crore in Q3FY23, on higher volumes and price realisation amid strong housing demand. The average sales realisation, meanwhile, rose 5 per cent to Rs 6,590 per square feet in Q3FY23.
Oil India: The state-owned company reported the highest-ever quarterly net profit of Rs 1,746.10 crore in Q3FY23 from Rs 1,244.90 crore in Q3FY22, on the back of rise in oil and natural gas prices. The turnover also increased 27 per cent to Rs 5,981.63 crore. Moreover, the board declared a second interim dividend of Rs 10 per share.
Inox Wind: The company saw consolidated net loss widen to Rs 287.86 crore in Q3FY23, due to higher expenses. Total expenses, meanwhile, increased to Rs 522.31 crore in Q3FY23 from Rs 283.65 crore in the year-ago period.
Sundaram Finance: The company's wholly-owned subsidiary, Sundaram Home Finance, has set the target to disburse over Rs 10 crore under the small business loans segment. The management said that since they have had positive feedback from locations launched so far, they intend to increase their disbursements by the end of this year.
F&O ban: Ambuja Cements, and Indiabulls Housing Finance, were banned in the F&O ban period on Monday, February 13.
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