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Stocks To Watch: ONGC, RIL, Kotak Mahindra Bank, Godrej Industries and others - Market News | The Financial Express

Published 1 month ago4 minute read

Confused about what stocks to watch ahead of markets, worry not, we got your back. Here is a comprehensive list of the latest news around stocks to keep in mind before you start your day. Let’s jump in to see which stocks to remain in focus on February 13. 

Stocks in Focus: From ONGC to Kotak Mahindra Bank, you can read about all the stocks that may see action in Thursday’s trade. Previously, on Wednesday, the NSE Nifty 50 closed the session 26 points or 0.12% lower at 23,045.25, while the BSE Sensex lost 122.52 points or 0.16% to close at 76,171.08.

ONGC aims to double its domestic exploration and production acreage to 500,000 square kilometres over the next five years, the company’s director-finance Vivek Chandrakant Tongaonkar told FE.

ONGC NTPC Green (ONGPL) signed an agreement on Wednesday to buy Ayana Renewable Power from National Investment and Infrastructure Fund (NIIF), British International Investment and its subsidiaries, and Eversource Capital at an enterprise value of Rs 19,500 crore, or $ 2.3 billion. This is the second-largest acquisition in the renewable energy space in the country.

Honasa Consumer reported a consolidated net profit of Rs 26 crore during the October-December quarter, beating Street estimates of Rs 17 crore. The company’s net profit was at Rs 25.9 crore in the same quarter in FY24. Revenue from operations was up 6% to Rs 517.5 crore, compared to Rs 488.2 crore a year ago. The Bloomberg consensus estimate had pegged the revenue at Rs 515 crore.

The Supreme Court gave an extension to Florida-based businessman Digvijay (Danny) Gaekwad till Thursday afternoon to deposit the earnest amount of Rs 600 crore for his competing offer to acquire a majority stake in Religare Enterprises, permitting a cash deposit for the same.

Reliance Industries (RIL) said it has incorporated a subsidiary, named REC Sustainable Energy Solutions, in Singapore to set up a global capability centre for consolidating research and development (R&D) activities.

Reserve Bank of India lifted restrictions on Kotak Mahindra Bank allowing the lender to onboard new customers through its online and mobile banking channels. It can now issue new credit cards. RBI had placed the restrictions on the bank on April 24, 2024.

Jubilant FoodWorks reported a net profit of Rs 43.24 crore for Q3 FY25, a drop of 34.20% in comparison to Rs 65.71 crore in Q3 FY24. It posted revenue from operations at Rs 2150.76 crore, up 56.06% as against Rs 1378.12 crore during the same period of the previous financial year.

P N Gadgil Jewellers has clocked a 49.4% increase in its net profit standing at Rs 86 crore in the Q3 FY25 as compared to the same quarter a year ago. The total revenue came in at Rs 2,435.7 crore in Q3 FY25, an increase of 23.5% year-on-year.

IIFL Finance posted a 92% sequentially fall in its consolidated net profit which stood at Rs 40.70 crore in Q3 FY25. Its net profit was Rs 490.44 crore in the previous quarter.

PTC India posted a 58.2% year-on–year growth in net profit at Rs 176.4 crore for Q3 FY25, up from Rs 111.5 crore in the same period last year. This surge came despite revenue slipping marginally to Rs 3,420.8 crore in Q3 FY25 from Rs 3,428 crore in Q3 FY24.

Suven Pharma’s net profit grew 78% YoY to Rs 83.3 crore in Q3 FY25 compared to Rs 46.8 crore in the same quarter of the last fiscal year. Its revenue rose 40% YoY to Rs 307.2 crore in the third quarter of FY25 driven by doubling of CDMO business, R&D, and business development efforts.

Godrej Industries reported a 76.9% YoY jump in net profit at Rs 188.2 crore in Q3 FY25 compared to Rs 106.4 crore a year ago. Its revenue from operations surged 34.4% to Rs 4,824.8 crore against Rs 3,590 crore in the corresponding period of the preceding fiscal.

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