Stocks in news: Tata Steel, Ashok Leyland, NMDC, Hero Moto and more
On Thursday, Indian equity indices ended at fresh record highs today led by gains in capital goods and IT stocks
Indian benchmark indices are likely to open flat today as SGX Nifty was trading 5 points lower at 16,374, amid mixed global cues.
On Thursday, Indian equity indices ended at fresh record highs led by gains in capital goods and IT stocks. Sensex rose 318 points to end at lifetime high of 54,843 and Nifty advanced 82 points to a record of 16,325.
Here’s a look at stocks, which are likely to remain in news today.
Tata Steel: The Tata group company posted a consolidated net profit of Rs 9,768.34 crore for June quarter 2021-22. In the year-ago period, the company incurred a net loss of Rs 4,648.13 crore, Tata Steel said in a BSE filing.
Total income zoomed to Rs 53,534.04 crore during the quarter under review from Rs 25,662.43 crore a year ago.
Ashok Leyland: Commercial vehicles maker Ashok Leyland reported narrowing of its net loss to Rs 282 crore in the three months to June 2021.
The Hinduja Group flagship company had posted a net loss of Rs 389 crore in the same period a year ago.
Revenues surged 353 per cent to Rs 2,951 crore as against Rs 651 crore in Q1 FY21
NMDC: State-owned miner NMDC (National Mineral Development Corporation) reported a manifold rise in consolidated net profit at Rs 3,191.45 crore for the quarter ended June 2021. The company had posted a consolidated profit of Rs 531.78 crore in the year-ago quarter.
India’s largest iron ore producer’s total income during the April-June quarter rose to Rs 6,656.30 crore from Rs 2,003.27 crore in April-June 2021, the statement said.
Hero Moto: The country’s largest two-wheeler maker said its consolidated net profit surged over four-folds to Rs 256 crore for the first quarter ended June 30, riding on the back of robust sales during the period. The company had reported a consolidated net profit of Rs 58 crore in the April-June quarter of 2020-21 fiscal.
Aurobindo Pharma: The company reported a 1.68 per cent decline in its consolidated net profit to Rs 769.97 crore for the quarter ended on June 30, 2021, mainly on account of reduction in expenses. It had posted a net profit of Rs 783.16 crore for the corresponding period of the previous fiscal, Aurobindo Pharma said in a regulatory filing.
Consolidated total revenue from operations of the company stood at Rs 5,701.98 crore for the quarter under consideration. It was Rs 5,924.78 crore for the same period a year ago, it added.
Future Group stocks: Future group subsidiary Future Coupons has moved the Supreme Court today, challenging the Delhi HC order on the Reliance-Future group deal. The SC judgment had revived the Single Judge Bench order that directed the attachment of Future Coupons, Future Retail, Future group promoter Kishore Biyani’s assets.
Through the current petition, Future Coupons is likely to seek a stay on the Single Judge Bench order, which directed the attachment of assets. Future Coupons will also seek a stay of the HC order, which issued a show-cause notice for civil arrest of Biyani, and other Future directors.
Earnings Today: ONGC, IGL, Petronet LNG, Godrej Industries, Grasim Industries and Apollo Hospitals are among key companies that will announce quarterly earnings today.