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Stocks to Watch Today: IDFC, PNB, BHEL, Cipla

27 Jan , 2022   By : Kanchan Joshi


Stocks to Watch Today: IDFC, PNB, BHEL, Cipla

Here is the list of the top 10 stocks that are likely to be in focus on Thursday:


IDFC: About 15 entities, including Vanguard Group Inc., local asset managers Nippon Life India Asset Management Ltd and Axis Asset Management Co. Ltd, are contenders to acquire IDFC Ltd’s mutual fund business in a deal that could be worth Rs7,000-10,000 crore, three people directly aware of the discussions said.


Axis Bank: Citing an improvement in the asset quality of Axis Bank, global ratings agency Standard and Poor's (S&P) has upgraded the outlook on the private sector lender from 'stable' to 'positive'. In its report, S&P Global Ratings has affirmed 'BB ' long-term and 'B' short-term issuer credit ratings on the bank. The global ratings agency has also affirmed the 'BB ' long-term issue rating on the bank's outstanding debt.


TCS: India’s Tata Consultancy Services (TCS) has become the second most valued brand globally in the information and technology services space, according to Brand Finance report. Another Indian firm Infosys earned the third spot after it emerged as the fastest growing IT brand. Accenture retained its top spot, according to the report.


Cipla: Drug major Cipla on Tuesday reported a 2.6 per cent decline in its consolidated profit after tax to Rs729 crore for the third quarter ended on December 31, 2021. The Mumbai-based company had posted a consolidated profit after tax (PAT) of Rs748 crore in the October-December quarter of 2020-21 fiscal. Total revenue from operations, however, rose by 6 per cent to Rs5,479 crore in the third quarter as compared with Rs5,169 crore in the same period of last fiscal, Cipla said in a regulatory filing.


Torrent Pharma: Torrent Pharmaceuticals on Tuesday said its consolidated net profit declined by 16 per cent to Rs249 crore for the third quarter ended December 2021 on account of muted performance in the US market. The drug maker had posted a net profit of Rs297 crore in the October-December period of 2020-21 fiscal.


Raymond: The company on Tuesday reported a multifold jump in its net profit of Rs101.07 crore for the third quarter ended December 2021, helped by improved performance across the segment. The company had posted a net profit of Rs22.18 crore during the corresponding quarter of the previous financial year, Raymond said in a regulatory filing. Its revenue from operations during October-December 2021 jumped 48.25 per cent to Rs1,843.39 crore, compared with Rs1,243.44 crore in the year-ago period.


Macrotech (Lodha): Realty firm Macrotech Developers on Tuesday reported a 24 per cent increase in consolidated net profit at Rs286.38 crore for the quarter ended December on higher sales. Its net profit stood at Rs231.71 crore in the year-ago period, according to a regulatory filing. Mumbai-based Macrotech Developers markets its properties under Lodha brand. It has projects in Mumbai Metropolitan Region (MMR) and Pune.


Network 18: Uday Shankar, former Star & Disney chairman, and James Murdoch, son of media baron Rupert Murdoch, are planning to acquire 40% stake in Viacom 18, which runs television and digital entertainment channels, according to a report in the Economic Times. They plan to invest Rs12,000 crore in the sports broadcasting and entertainment space. Viacom 18 is a joint venture between Reliance Industries-controlled TV18 and ViacomCBS. In the post-deal arrangement, TV18 will continue to have majority stake.


Indiabulls Real Estate: Indiabulls Real Estate Ltd on Tuesday reported a consolidated net loss of Rs87.21 crore for the quarter ended December. Its net profit stood at Rs80.58 crore in the year-ago period, according to a regulatory filing. Total income fell to Rs355.59 crore in the third quarter of this fiscal, from Rs756.81 crore in the corresponding period of the previous year.


United Spirits: Diageo-controlled liquor maker United Spirits Ltd on Tuesday reported a 26.62 per cent increase in consolidated net profit at Rs291.1 crore for the third quarter ended December 2021. The company had posted a net profit of Rs229.9 crore in the October-December period a year ago, United Spirits Ltd (USL) said in a regulatory filing. Its revenue from operations rose 7.64 per cent to Rs8,854.5 crore, as against Rs8,226 crore in the corresponding period of the previous fiscal.


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