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Stocks to Watch: Airtel, HCL, Delhivery, IGL, TechM, Tata Chemicals

10 Aug , 2022   By : Kanchan Joshi

Stocks to Watch: Airtel, HCL, Delhivery, IGL, TechM, Tata Chemicals

Here is the list of top 10 stocks that will be in focus today

Bharti Airtel: Telecom operator Bharti Airtel on Monday posted over a five-fold jump in its consolidated profit to ?1,607 crore for the quarter ended June 2022, mainly on account of hike in tariffs. The company had posted a profit of ?283.5 crore in the same period a year ago. Consolidated revenue from operations of Bharti Airtel increased by about 22% to ?32,805 crore during the reported quarter from ?26,854 crore earlier.

HCL: IT company HCL Infosystems on Tuesday posted a consolidated loss of ?9.97 crore for the quarter that ended on June 30, 2022. The company had recorded a profit of ?40.79 crore in the same period a year ago. The consolidated revenue from operations of HCL Infosystems declined by 67% to ?9.12 crore during the reported quarter from ?27.61 crore in the year-ago quarter.

Delhivery: Delhivery Ltd's consolidated net loss widened to ?399 crore during the first quarter ended June 2022 as compared to a loss of ?129.6 crore in the same quarter last year. The company's revenue rose by over 32% to ?1,745.7 crore from ?1,317.7 crore year-on-year (YoY). The company incurred an Adjusted EBITDA loss of ?217 crore in QIFY23 versus an adjusted EBITDA loss of ?58 crore (proforma) in QIFY22.

IGL: Indraprastha Gas Ltd, the firm that retails CNG and piped cooking gas in the national capital, on Tuesday reported a 72% rise in the June quarter net profit on the back of a rise in sales volume. Net profit of ?420.86 crore in April-June compared with ?244.29 crore in the corresponding quarter of last fiscal, the company said in a statement.

Tata Chemicals: Tata Chemicals on Tuesday reported an 86.25% increase in consolidated net profit at ?637 crore during the quarter ending June. The company's net profit stood at ?342 crore in the corresponding quarter of the previous fiscal, Tata Chemicals said in a regulatory filing. Revenue from operations of the company went up by 34.15% during the quarter under review at ?3,995 crore compared to ?2,978 crore in the same period of last fiscal.

Tech Mahindra: Tech Mahindra on Monday said it acquired entire stakes in its two South African joint ventures -- Tech Mahindra South (Pty) Limited and Tech Mahindra Holdco Pty Ltd -- for about ?30 crore. According to a BSE filing, the company will acquire a 49% stake in Tech Mahindra South (Pty) and a 4% in Mahindra Holdco Pty Ltd from its partner Falcorp Technologies which is exiting the joint venture.

JK Tyre: Indian tyre major JK Tyre & Industries Ltd (JK Tyre) on Monday said its revenue rose by 39% year-on-year to ?3,650 crore in the first quarter of the current financial year. The company's EBIDTA for the first quarter of 2022-23 stood at ?291 crore. The company's profit before tax stood at ?57 crore for the quarter under review.

HFCL: Domestic telecom gear maker HFCL Limited on Monday said it has entered into an agreement with Qualcomm Technologies for the design and development of 5G millimetre wave fixed wireless access products for broadband services. In the recently concluded spectrum auction, all the four bidders -- Reliance Jio, Bharti Airtel, Vodafone Idea and Adani Data Networks -- have purchased spectrum in the millimetre wave band, which is the 26 gigahertz frequency range. The mmWave has the power to transmit signals at high speed but covers very short distances.

Power Grid: State-owned Power Grid Corporation of India (PGCIL) on Monday said its consolidated net profit dipped over 36% to ?3,801.19 crore in the April-June quarter of FY23. The consolidated net profit of the company was ?5,998.28 crore in the quarter ended on June 30, 2021, a BSE filing said. The total income of the company increased to ?11,168.54 crore in the quarter under review from ?10,391.61 crore in the same period a year ago.

Torrent Power: Torrent Power on Monday said it has received shareholders' approval for raising up to ?2,000 crore through the issuance of non-convertible debentures (NCDs). The proposal for raising funds was listed on the agenda of the company's annual general meeting held on Monday.

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