Stocks in news: IndiGo, Adani Enterprises, Vedanta, Gujarat Gas, JSW Steel and more

Stocks in news: IndiGo, Adani Enterprises, Vedanta, Gujarat Gas, JSW Steel and more

Domestic equity market was trading lower on Thursday. Sensex lost 139 points to  65,643 and Nifty fell 40 points to 19,486.

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

IndiGo

IndiGo logged a consolidated net profit of Rs 3,091 crore for the quarter ended June against a loss of Rs 1064 crore in Q1 of last fiscal. Revenue from operations jumped 30% year-on-year to Rs 16,683 crore. This is the highest-ever quarterly net profit reported by the budget carrier, which it says reflects strong operational performance, execution of strategy, and favorable market conditions.

Adani Enterprises

Shares of Adani Enterprises Ltd are in focus today as the flagship firm of Adani Group will announce its earnings for the quarter ended June 2023.

Earnings today

Shares of Bharti Airtel, Sun Pharma, Dabur, Eicher Motor, and Zomato are in focus as the companies will announce their June quarter results today.

L&T Finance

Bain Capital is likely to sell 7.9 crore shares in L&T Finance through a block deal, according to reports.

Vedanta

Shares of Vedanta Ltd are in focus today as Twin Star Holdings, chairman Anil Agarwal-owned promoter entity, will offload a 4.3 per cent stake in the metal and mining firm for nearly $500 million. The proceeds from stake sale will be used to repay debt of parent company Vedanta Resources. The shares, which will be sold today, are being offered at Rs 258.5 per share, a 5 per cent discount to the Wednesday’s closing price of Vedanta Ltd at Rs 272 apiece, according to reports.

Vardhman Special Steels

Vardhman Special Steels net profit for the June quarter came at nearly Rs 19 crore. Revenue from operations stood at Rs 409 crore.

Gujarat Gas

Gujarat Gas has reported net profit of Rs 215 crore for April-June period. Revenue from operations stood at Rs 3,781 crore.

JSW Steel

JSW Steel and JFE Steel have inked an agreement to establish a 50:50 joint venture company to manufacture cold rolled grain oriented electrical steel products in India.

Mankind Pharma

Mankind Pharma reported a 66% year-on-year (YoY) rise in net profit to Rs 494 crore against Rs 298 crore profit in the corresponding quarter of the previous year. Revenue climbed 18% YoY to Rs 2579 crore in Q1FY24. Earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 40% YoY to Rs 660 crore in Q1FY24, while EBITDA margins expanded 450 basis points YoY to 25.60%.

Titan

Titan reported a 2% year-on-year fall in profit at Rs 777 crore in the June quarter compared to Rs 793 crore in the corresponding period last year. The jewellery and accessories maker’s revenue from operations in Q1 rose to Rs 11,145 crore, compared to Rs 8,961 crore in the year-ago period.

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