Stocks to Watch: Reliance Industries, Titan, Dabur, Sobha, Indian Oil, Suzlon, Tata Steel and more
Stocks to Watch: Reliance Industries, Titan, Dabur, Sobha, Indian Oil, Suzlon, Tata Steel and more
Reliance Industries | The company on Thursday said the National Company Law Tribunal has given its nod to the demerger of the company’s financial services undertaking and its listing. Reliance had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Ltd (RSIL) and rename and list it as Jio Financial Services Ltd (JFSL).
Dabur | Consolidated growth in the June quarter, including recently acquired Badshah Masala, seen at 10 percent year-on-year. International business sees strong performance with double-digit growth in constant currency. The homegrown FMCG firm on Thursday said it expects the improvement in gross margins to continue in the ongoing fiscal, encouraged by moderation in inflation and growth trends in urban and rural India. Trends in both urban and rural India have shown signs of improvement in the first quarter.
Tata Steel | India deliveries up 17.9 percent at 4.8 MT. European and Thailand deliveries down 8 percent and 13 percent year-on-year respectively. Higher production in India driven by ramp-up at NINL. Data is in-line as shutdowns in Europe were informed at previous results. No negative surprise.
Titan | Standalone revenue for the June quarter grows 20 percent year-on-year. The largest business, jewellery, grew by 21 percent during the quarter. Akshaya Tritiya sales in April and wedding purchases in June were Robust. Wearables grew by 84 percent, while EyeCare grew 10 percent. CaratLane saw 32 percent growth. The company in an exchange filing said it has added a total of 68 stores (including CaratLane) during the quarter taking Titan’s retail presence to 2,778 stores.
Maruti Suzuki | The country’s largest carmaker on Thursday started exports of its newly launched sporty compact SUV, Fronx. The first batch of 556 vehicles was shipped from Mundra, Mumbai, and Pipavav ports to destinations in Latin America, the Middle East, and Africa, the carmaker said in a statement.
JK Cement | The company on Thursday said its wholly owned subsidiary JK Maxx Paints Ltd (JKMPL) has acquired an additional 20 percent stake in Rajasthan-based Acro Paints Ltd (APL) for Rs 60.24 crore. With this acquisition, JKMPL holds an 80 percent stake in APL. Last year, the company acquired a 60 percent stake in Acro Paints for Rs 153 crore.
Dr Reddy’s Laboratories | The drugmaker, according to reports, has entered into the child nutrition segment with the launch of immunobooster gummies under brand name CeleHealth Kidz Immuno Plus Gummies. It estimates the child immunity market across formats to be worth Rs 1,600 crore and growing in double digits.
Sobha | Overall sale in June quarter up 27.9 percent year-on-year to Rs 1,465 crore. Price realisations up 24.6 percent year-on-year to Rs 10,506 per square feet.
Indian Oil Corporation | To form JV with Praj Industries to build biofuel production capacities in India. Board meet today to consider raising funds via rights issue.
Suzlon Energy | After recent rights issue, board to consider fund raising today.
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