Stocks to watch: ITC, Magma Fincorp, Titan, National Fertilizers, BPCL, IGL

Nifty futures on Singapore Exchange traded 72 points down at 15,066 around 8.20 am, indciating a weak start for the benchmark indices on Thursday.

Here are the top stocks that are likely to hog the limelight today:

Magma Fincorp: Adar Poonawalla-controlled Rising Sun Holdings will acquire a 60 per cent stake in the non-banking financial company by subscribing to a Rs 3,456-crore preferential issue. READ MORE

Q3 earnings: ITC, Coal India, Power Grid Corporation, ACC, Ashok Leyland, MRF and NCC are among 442 companies slated to post their December quarter numbers today.

Eicher Motors: Niche bike maker Royal Enfield may look at hiking prices from April in view of rising commodity prices, a top company official said on Wednesday.

BPCL: Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) will buyout Oman Oil Company’s shares in the Bina refinery project for about Rs 2,400 crore. READ MORE

National Fertilizers: The government will sell 20 per cent of its stake in through an offer for sale and has invited bids from merchant bankers for managing the share sale.

Titan: The company reported an 11.81 per cent YoY increase in consolidated net profit to Rs 530 crore for the third quarter ended in December 2020, led by income growth in the jewellery division.

Godrej Properties: The firm has plans to raise up to Rs 3,750 crore through a qualified institutional placement of its shares to fund new land buys and pay its joint venture partners. The GPL board has already cleared the proposal for the fund-raise. READ MORE

Greaves Cotton: The company’s consolidated net profit declined by 56.98 per cent YoY to Rs 20.9 crore for the third quarter ended December 31, 2020. The consolidated revenue from operations declined to Rs 494.57 crore in the third quarter as against Rs 520.26 crore in the year-ago period.

Ujjivan Financial Services: The firm reported a consolidated loss of Rs 490.73 crore in the third quarter ended in December 2020. The company had registered a net profit of Rs 74.97 crore in the year-ago quarter.

Ruchi Soya: Ruchi Soya Industries reported a net profit of Rs 227.44 crore for the quarter ended in December. The company had posted a net profit of Rs 7,617.43 crore in the year-ago period because of an exceptional gain of Rs 7,466.06 crore.

Aurobindo Pharma: The company reported an over four-fold jump in consolidated net profit to Rs 2,946.32 crore for the quarter ended December 2020, mainly on account of exceptional gains.

Bank of India: CCI, on Wednesday, approved Bank of India’s acquisition of 49 per cent stake each in BOI AXA Investment Managers and BOI AXA Trustee Services. The company also reported 412 per cent jump in standalone profit after tax at Rs 541 crore in the third quarter ended December on improvement in asset quality and lower provisions.

Eveready: Eveready Industries India reported a 44 per cent YoY fall in its standalone net profit to Rs 50.43 crore for the third quarter of the current fiscal.

TCS: Tata Consultancy Services (TCS) has launched its TCS AWS Business Unit (BU) that will focus on helping enterprise customers drive superior business outcomes using Amazon Web Services (AWS).

Mindspace REIT: Mindspace Business Parks REIT on Wednesday reported a consolidated net profit of Rs 140 crore for the quarter ended December and declared a distribution of Rs 283.5 crore to unitholders. The company had posted a net profit of Rs 68.4 crore in the previous quarter.

IGL: Indraprastha Gas reported an 18 per cent YoY rise in December quarter net profit after city gas sales recovered after easing of coronavirus lockdown restrictions.

Bata India: The company reported lower profit at Rs 26.4 crore in Q3FY21 against Rs 118.2 crore in Q3FY20. Revenue fell to Rs 615.6 crore.

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