Weekly Stocks Reports
All latest stock related activities updates from Indian Stock Market.
Stock Market Activities
JSW Steel Ltd. on Friday reported a rise in fourth-quarter profit as strong demand in the domestic market lifted steel consumption.
Consolidated net profit climbed more than 13% to 36.64 billion rupees ($448 million) in the fourth quarter ended March 31, from 32.34 billion rupees a year earlier, the steel maker said in an exchange filing.
India’s markets watchdog has “drawn a blank” in investigations into suspected violations in overseas investments in the Adani group and its ongoing pursuit of the case could be a “journey without a destination”, a court-appointed panel said.
Shares of companies of the coal-to-airports conglomerate, controlled by billionaire Gautam Adani, were up between 1.2% to 7% in late trade on Friday in a largely flat wider market.
Indian Oil Corp. the country’s top refiner, said on Friday it is looking to decarbonise its petrochemical feedstocks by introducing bio-naphtha at its crackers.
“To attain sustainability, bio-based feedstocks such as bio-naphtha and bio-ethanol are being envisaged as the natural transition for the petrochemical industry,” the company’s Chairman Shrikant Madhav Vaidya said at Asia Petrochemical Industry Conference, without providing a timeline.
India’s Nexus Select Trust (NEXE.NS) rose nearly 4% in their trading debut on Friday, giving the Blackstone Inc -backed retail REIT a valuation of 157.56 billion rupees ($1.93 billion).
The company, better known as Nexus Malls, saw its units rise to 104 rupees, compared to the 100-rupees-a-unit price of its initial public offering (IPO), in which it raised 32 billion rupees.
State Bank of India (SBI.NS), the country’s largest lender, on Thursday reported a more than 83% jump in fourth-quarter profit, led by a sharp drop in provisions on bad loans and healthy credit growth.
Net profit was at a record 166.95 billion rupees ($2.04 billion) for the quarter ended March 31, compared with 91.14 billion rupees a year earlier, the lender said in an exchange filing. That was sharply higher than analysts’ expectations of 151.99 billion rupees, as per Refinitiv IBES data.
IndiGo, India’s biggest airline, aims to double its capacity by the end of the decade by expanding its network in the country and flying to new international destinations, its chief executive officer told analysts on Thursday.
Air travel has recovered strongly from the impact of COVID-19, although global supply chain disruptions continue to delay the delivery of aircraft and components, and the financial problems of some airlines have raised concerns of possible cost increases.
India’s United Spirits Ltd (UNSP.NS), which makes the Johnny Walker brand of whiskey, reported a 7.3% rise in fourth-quarter profit on Tuesday helped by narrowing costs that more than offset slowing demand.
The Bengaluru-based company, which also sells brands such as McDowell’s No 1, Smirnoff, and Vat 69, reported a profit of 2.04 billion Indian rupees ($24.94 million) in the quarter ended March 31, up from 1.90 billion rupees a year earlier.
Indian generic injectables maker Gland Pharma Ltd (GLAD.NS) reported a 56% decline in fourth-quarter profit on Thursday, hurt by soft demand in its key operating markets.
The company, majority of which is owned by China’s Shanghai Fosun Pharmaceutical Group Co (600196.SS), said its consolidated profit before exceptional items and tax fell to 1.68 billion rupees ($20.54 million) for the quarter ended March 31, from 3.80 billion rupees a year earlier.