Top 12 stocks in focus today: Reliance Industries, UltraTech Cement, United Spirits
UltraTech Cement: The consolidated net profit of the company stood at Rs 594 crore for the third quarter of 2016-17 compared to Rs 567 crore a year ago. The company has approved setting up of a 3.5 million tonne per annum integrated cement plant at Dhar, Madhya Pradesh.
United Spirits Ltd: Liquor major United Spirits reported an over threefold jump in its standalone net profit at Rs 147.70 crore for the third quarter on low finance costs and exceptional expense in the corresponding period last year.
Bharti Airtel: Bharti Airtel in talks with rival Millicom International Cellular for a possible merger in Ghana, as the Indian company tries to find ways to improve operations in Africa, as per media reports.
RIL: Reliance Industries is in talks to raise as much as $2.25 billion (Rs 15,300 crore) in what could be one of the biggest offshore debt issues by an Indian corporate as the energy-to-retail conglomerate seeks to replace existing high-cost borrowings as well as build a war chest for its aggressive expansion strategy in telecom, as per media reports.
HUL: The company will announce its Q3 numbers today.
Amara Raja Batteries: Amara Raja Batteries posted a 18% fall in net profit at Rs 112.32 crore for the quarter ended December 31, due to higher expenses. The company had posted a net profit of Rs 136.82 crore during the same period a year ago.
Mahindra & Mahindra: The auto major has acquired 75.1% equity stake in a Turkish farm equipment company for $19 million, a regulatory filing by the company said here on Friday.
Tata Communications: The company’s unit buys 35% stake in Teleena Holding B.V. (Teleena), a mobile virtual network enabler headquartered in the Netherlands. The company will announce its Q3 numbers today.
Fortis Healthcare: The company to consider issue of non-convertible debentures up to Rs 500 crore on private placement.
JK Paper: Branded paper company JK Paper reported a surge of 173% in its net profit for the third quarter (Q3) of 2016-17. The company’s net profit stood at Rs 35.89 crore for the quarter ended December 31, 2016, up from Rs 13.14 crore in the corresponding quarter of last fiscal.
Force Motors: Commercial vehicles maker Force Motors reported 15% decline in standalone net profit at Rs 23.25 crore for the third quarter ended December 31, 2016. The company had posted standalone net profit of Rs 27.31 crore in the same quarter previous fiscal, Force Motors said in a BSE filing.
L&T Technology Services: The company posted nearly 17% drop in consolidated net profit to Rs 108.7 crore for the December quarter of the current fiscal. The net profit stood at Rs 130.8 crore in the year-ago period.