Stocks to Watch: ITC, IndiGo, Aditya Birla Fashion and Retail, Arvind
Premium- Indian indices on Wednesday slipped after registering gains in the early session, tracking weakness from Asian peers.
Here is the list of the top 10 stocks that are likely to be in focus on Thursday:
ITC: ITC Ltd on Wednesday reported an 11.60 per cent rise in its consolidated net profit to ₹4,259.68 crore for the fourth quarter ended in March 2022 driven by all-round growth across verticals. The company had posted a net profit of ₹3,816.84 crore during the January-March quarter of the previous fiscal, ITC said in a regulatory filing.
IndiGo: IndiGo, India’s top airline, said Chief Executive Officer Ronojoy Dutta will step down effective Sept. 30, and named the chief of Air France-KLM’s Dutch unit as his replacement. Pieter Elbers will join IndiGo by Oct. 1, pending regulatory approvals, IndiGo said in a statement to stock exchanges on Wednesday. Elbers’s term as the head of KLM Royal Dutch Airlines is ending on July 1.
LIC Housing Finance: Mortgage financier LIC Housing Finance (LIC HFL) on Wednesday reported a nearly threefold jump in its profit after tax to ₹1,118.64 crore on lower provisions and improvement in collection efficiencies. It had reported a net profit of ₹398.92 crore in the same quarter of FY21.
IGL: Indraprastha Gas Limited (IGL), the largest CNG distribution company in the country, on Wednesday reported a 9 per cent increase in its net profit in the quarter ended March 2022, on rise in gas sales volume. Net profit increased to ₹363.08 crore in the January-March quarter from ₹332.08 crore in the corresponding period last year, the company said in a statement.
ABFRL: Aditya Birla Fashion and Retail Ltd on Wednesday reported a consolidated net profit of ₹31.90 crore for the fourth quarter ended in March 2022, led by a revival in demand across categories. The company had posted a net loss of ₹195.86 crore during the January-March quarter of the previous fiscal, Aditya Birla Fashion and Retail Ltd (ABFRL) said in a regulatory filing.
TeamLease Services: Leading staffing company TeamLease Services on Wednesday said its consolidated net profit rose by 61 per cent to ₹31.6 crore for the fourth quarter ended on March 31, 2022. Its consolidated net profit in the January-March 2021 quarter stood at ₹19.6 crore, TeamLease Services said in a regulatory filing.
JK Lakshmi Cement: JK Lakshmi Cement on Wednesday reported an 18.36 per cent increase in its consolidated net profit to ₹188.36 crore for the fourth quarter ended in March 2022, helped by improvement in operational efficiencies and higher volume.
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Arvind Ltd: Leading textile manufacturer Arvind Ltd on Wednesday reported 64.22 per cent rise in consolidated net profit at ₹87.60 crore for the fourth quarter ended March 2022, helped by strong volume and a price increase during the period.
Sugar stocks: India plans to introduce 20% ethanol blending with gasoline in some parts of the country from April next year, a source familiar with the plan said, although the federal government plans a nationwide roll out from 2025/26. Stocks of Triveni Engineering, Bajaj Hindusthan, Balrampur Chini, and Uttam Sugar Mills will be in focus.
Westlife Development: Westlife Development Ltd which owns Hardcastle Restaurants, the Master Franchisee of McDonald's restaurants for west and south India, on Wednesday reported a consolidated net profit at ₹15.06 crore for the fourth quarter ended March 2022.