Stocks to Watch: RIL, ITC, TCS, Titan, Cadila, Emami, Lupin, EIH, Tyre

The key benchmark indices are likely to start flat note as the cues from the SGX. As of 08:10 AM, the SGX Nifty futures quoted at 17,584 as against the NSE Nifty spot close of 17,560 on Thursday. Meanwhile, here are the top stocks in focus for trade on Friday.

Earnings Watch: Aditya Birla Fashion and Retail, Alphageo (India), Anuh Pharma, Astral, Automotive Axles, Bank of India (BoI), Bayer Cropscience, Birla Corporation, City Union Bank, Devyani International, Eveready Industries, Firstsource Solutions (FSL), Gati, GNFC, Jubilant Pharmova, Lakshmi Machine Works, Mahindra Lifespace Developers, Mangalam Drugs, Minda Corporation, Monte Carlo Fashions, Paytm, REC, Saint Gobin, Shree Cement, Siemens, Sintex, Sun Pharma Advanced Research Company (SPARC), Tata Steel, Thermax, Ugar Sugar, Venkys India, Vijaya Diagnostics and Zee Learn are some of the companies to announce December quarter results today.

Reliance Industries (RIL): The Mukesh Ambani-led company plans to bid for Videocon’s oil assets after the lenders called for fresh bids for them. If RIL succeeds in acquiring them, it will be another big-ticket acquisition for the company under the Insolvency and Bankruptcy Code (IBC), 2016, after it won the race for Alok Industries and Reliance Communications’ telecom tower assets. READ MORE

ITC: The cigarettes-to-hotels major reported a 14.81 per cent YoY increase in consolidated profit after tax (PAT) at Rs 4,118.80 crore in the December quarter (Q3) led by growth across segments. Its consolidated revenues jumped 30 per cent YoY to Rs 18,366 crore from Rs 14,124 crore in the year-ago period. Sequentially, too, revenues and profits were higher. READ MORE

Tata Consultancy Services (TCS): The IT major announced plans to expand its operations in New Jersey by hiring nearly 1,000 additional employees by the end of 2023 to meet the growing needs of customers to digitally transform their businesses. READ MORE

Titan: The company’s Q3 net profit zoomed 91 per cent to Rs 1,004 crore when compared to the year-ago period. Total income for the quarter ended December 2021 stood at Rs 9,570 crore, including bullion sale of Rs 54 crore, a growth of 31 per cent compared to total income of Rs 7,324 crore in Q3 of FY21 that included bullion sale of Rs 340 crore. READ MORE

Future Retail: The Kishore Biyani-led company has sought two weeks from the Supreme Court (SC) to hammer out a solution with lenders on the issue of clearing dues and avoid being tagged a non-performing asset (NPA). The council to the lenders of Future Group suggested an open bid between Amazon and Reliance Industries to settle the dispute and ensure recovery for banks. READ MORE

Dr Reddy’s Laboratories: The pharma major said it inked a pact to acquire Germany-based Nimbus Health GmbH, a privately owned, licensed pharmaceutical wholesaler focusing on medical cannabis in Germany.

Lupin: The company’s Q3FY22 consolidated net profit rose 24.5 per cent to Rs 545.50 crore as against Rs 438.30 crore in Q3FY21. Total income grew 3.9 per cent YoY to Rs 4,195 crore.

Tyre Makers: The All India Tyres Federation on Thursday sought removal of anti-dumping duty on tyres and urged the government to lift import restrictions imposed after the Competition Commission of India’s (CCI) order on domestic tyre manufacturers for indulging in price rigging and cartelisation.

EIH: The Oberoi group hotel reported a strong turnaround in Q3FY22 with a net profit of Rs 40.80 crore as against a net loss of Rs 55.78 crore in Q3FY21. Total income also nearly doubled to Rs 378.88 crore from Rs 194.78 crore in the same period.

Emami: The company posted a 5.1 per cent YoY increase in consolidated profit at Rs 219.52 crore in the quarter ended December 2021. Consolidated revenues grew by 4 per cent YoY to Rs 971.85 crore. The company said that the quarter witnessed high inflation leading to a deceleration in consumer demand and gross margins at 67.4 per cent contracted by 300 basis points due to spike in key raw material prices. READ MORE

Cadila Healthcare: A dip in both the US and India sales has led to Cadila Healthcare Limited (Zydus Cadila) posting a 5 per cent YoY fall in its consolidated net profit for the quarter ended December 2021. The company’s profit stood at Rs 500.40 crore as compared to Rs 527.2 crore in Q3 of previous financial year 2020-21. Revenue from operations was up by a marginal 1 per cent YoY at Rs 3,655 crore. READ MORE

Godrej Properties: The realty company’s consolidated net profit in December quarter nearly tripled to Rs 38.95 crore when compared with Rs 14.35 crore in the same period of 2020-21. Total income also surged 50 per cent to YoY to Rs 466.91 crore.

Thomas Cook (India): The holiday planners Q3 standalone net loss widened to Rs 19.72 crore in the quarter ended December 2021 as against a net loss of Rs 6.74 crore in the corresponding quarter a year ago. Total income, however, was up 72.4 per cent YoY at Rs 121.14 crore.

Intrasoft Technologies: The company’s board meeting is scheduled for February 11 to take on record the quarterly results and also consider a proposal for rights issue of equity shares.