Godrej Consumer, L&T, Dr Reddy's, Raymond among stocks to watch out for today

Domestic equity markets settled higher on Wednesday. However, the gains were capped for the headline peers on the back of muted global sentiments. BSE Sensex jumped 178.87 points, or 0.29 per cent, to settle at 61,940.20 and Nifty50 index gained 49.15 points, or 0.27 per cent, to close at 18,315.10.

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

Larsen & Toubro

Engineering and construction major Larsen & Toubro Ltd (L&T) said consolidated net profit jumped 10 per cent year-on-year (YoY) to Rs 3,987 crore for the March quarter. The S N Subrahmanyan-led company reported a Rs 3,621 crore profit in the same quarter last year.

Escorts Kubota

The firm reported a 13.9 per cent year-on-year (YoY) rise in consolidated net profit at Rs 216.50 crore compared with a profit of Rs 190 crore in the corresponding quarter last year. On a sequential basis, profit grew 19.7 per cent over Rs 180.80 crore in the December quarter.

Godrej Consumer Products

The FMCG firm logged a 24.5% year-on-year (YoY) rise in consolidated net profit for the quarter ended March to Rs 452 crore. Revenue from operations increased nearly 10% YoY to Rs 3,200 crore.

Dr. Reddy's Laboratories

The firm logged a consolidated net profit of Rs 960.1 crore for the fourth quarter ended March 2023. This is an increase of 890% from Rs 97 crore clocked in the corresponding quarter of last year. Revenue from operations stood at Rs 5,843 crore in Q4 FY23, up 15.28% YoY as compared to Rs 5,068.4 crore in Q4 FY22.

Raymond

The board has approved the issuance of NCDs for an amount up to Rs 2,200 crore in two or more tranches on a private placement basis to Raymond Consumer Care associate company of the Company, for repayment of external debt.

Cera Sanitaryware

The firm posted a 21% rise in income for the March quarter at Rs 530 crore, as against Rs 439 crore in the same quarter of the previous year. The firm reported an exceptional loss of Rs 5 crore vs 6.7 crore YoY.

Bharti Airtel

Bharti Airtel announced that it has surpassed the 2 million unique 5G user mark on its network in Andhra Pradesh and Telangana.

Lupin

The pharma firm has posted a profit after tax of Rs 142 crore for the quarter ended March 2023, down 55% YoY compared to Rs 314 crore in the March quarter of 2022. The company's income rose 18.39% year-on-year to Rs 5,252 crore as against Rs 4,437 crore in Q4FY22.

Gujarat Gas

Gujarat Gas logged a fall of 16% in net profit to Rs 369 crore compared to Rs 444 crore in the corresponding period last year. Revenue from operations in Q4 stood at Rs 4,073.82 crore, falling 14%, compared to Rs 4,773.37 crore in the year-ago period.