Economy- SBI, Future Retail, Coal India, Adani Wilmar, and Others

FMCG firm Adani Wilmar, which got listed last week, on Monday reported 66% jump in consolidated net profit. At Rs 211 crore for the quarter ending December 31, 2021. It reported net profit of Rs 127 crore in the year-ago period.

The company’s consolidated revenue from operations rose 40% to Rs 14,379 crore . As compared to Rs 10,229 crore in Q3FY21.

Adani Wilmar is a 50:50 joint venture company between Ahmedabad-based Adani group and Singapore’s Wilmar group.

At 1330 hours on Monday, the company’s scrip on BSE was trading 2% higher at Rs 389.30.

Angshu Mallick, Managing Director and CEO, Adani Wilmar Limited said: “We have been able to continue our business performance in line with what we have been able to. Showcase in the recent past.

As we go forward our focus will be to grow our food business . So that it can contribute reasonably well in our overall basket.”

kitchen essentials

The company has a diversified product portfolio offering most of the primary kitchen essentials . Including edible oil, wheat flour, rice, pulses, besan and sugar with market leading positions across products. AWL’s flagship brand ‘Fortune’ reaches 90 million households, indicating that 1 out of every 3 household consumes a “Fortune” product, the company said.

Fortune

Fortune is also the largest selling edible oil brand in India. AWL has 22 plants in India that are located across 10 states, comprising 10 crushing units and 19 refineries.

Adani Wilmar has raised Rs 3,600 crore through its Initial Public Offer (IPO), which hit the capital market on January 27 and closed on January 31.

The IPO was subscribed more than 17 times. Retail investors subscribed 3.92 times their part of allotted shares.

Also Read

Garena Free Fire banned in India? PUBG rival missing from Google Play Store- App Store..

The proceeds of the public issue will be used to fund capital expenditure, reduce debt and for acquisitions as the company seeks to become India’s biggest food and FMCG company.

Shares of firms like Coal India, Eicher Motors, Grasim Industries, SpiceJet, Adani Wilmar will be in focus as they will announce their Q3 results today

The Indian benchmark indices crashed and wiped out all previous two days’ gains to fall below 17,400 on the Nifty50, as hitting forty-year high by US inflation and rising oil prices weighed on the Dalal Street on Friday, February 11. All sectoral indices were under pressure.

Q3 results

The BSE Sensex plunged 773 points or 1.31 per cent to 58,153, while the Nifty50 declined 231 points or 1.31 per cent to 17,375 and formed bearish candle on the daily charts. As long as the Nifty holds 17,300 mark the positive bias is expected to continue, whereas 17,000 could be crucial support in coming days, experts feel.

Nifty futures on the Singapore Exchange traded 216.5 points, or 1.25 per cent, lower at 17,137.50, signaling that Dalal Street was headed for a positive start on Thursday.

ONGC

Reported a 45 per cent year-on-year rise in its December quarter revenue to Rs 1,45,685 crore, led by higher realisation in its core oil and gas business. Net profit surged 220 per cent to Rs 11,637 crore..

Home » News » Markets » Stocks to Watch Today: SBI, Future Retail, Coal India, Adani Wilmar, and Others

Also Read

Weight Control Tips: Eat chewed food and get rid of obesity along with indigestion, gas, acidity

The BSE Sensex plunged 773 points or 1.31 per cent to 58,153, while the Nifty50 declined 231 points or 1.31 per cent to 17,375 and formed bearish candle on the daily charts.

Nifty

As long as the Nifty holds 17,300 mark the positive bias is expected to continue, whereas 17,000 could be crucial support in coming days, experts feel.

Nifty futures on the Singapore Exchange traded 216.5 points, or 1.25 per cent, lower at 17,137.50, signaling that Dalal Street was headed for a positive start on Thursday.

 ONGC

Reported a 45 per cent year-on-year rise in its December quarter revenue to Rs 1,45,685 crore, led by higher realisation in its core oil and gas business. Net profit surged 220 per cent to Rs 11,637 crore..

TVS Motor

Promoter Sundaram Clayton on Friday sold around 95 lakh shares or 2 per cent stake in the company at an average price of Rs 635.97 apiece via open market transaction on the BSE.

With this, Sundaram Clayton’s stake will fall to 50.26 per cent from 52.26 per cent earlier.

State Bank of India

The country’s largest lender expects to recover around Rs 8,000 crore from written-off accounts, including from NCLT resolved cases, in the current fiscal ending 31 March. During the December quarter, SBI recovered Rs 1,500 crore from written-off accounts and for the nine months during April-December FY22, the recovery amount stood at Rs 5,600 crore.

Coal India

The total dividend payout by Coal India during this current fiscal is likely to be higher. Than what paid out in 2020-21. The miner is expected to post healthy revenue and growth in profit. The miner had announced a first interim dividend at Rs 9 per share in December.

Future Retail

Lenders to Future group have agreed to halt the sale of Future Retail Ltd’s (FRL) small-format stores until the Supreme Court gives its verdict in a case between Amazon.com Inc. and the founders of Future Group over the latter’s sale of assets to Reliance Industries Ltd.

Godrej Properties

The company plans to invest around ₹7,500 crore over the next 12-18 months on acquisition and development of new real estate projects, given that it is sitting on a huge cash pile.

IDBI Bank With Life Insurance Corp.

(LIC) becoming a parent to both IDBI Bank and LIC Housing Finance, either of the subsidiaries .Have to wind down its home loan business in the next 20 months. According to the Reserve Bank of India’s (RBI’s) condition.

While approving the insurance behemoth’s takeover of the erstwhile public sector lender. In its approval letter dated November 2, 2018, for the acquisition of additional shares by LIC in IDBI Bank. The banking regulator had said either of LIC’s associates would have to cease its housing finance business.

Eicher Motors The automobile company

will declare its December quarter results on Monday. Analysts expect the company to report a year-on-year decline in its net profit due, to lower volumes and raw material inflation.

Revenues are, however, expected to rise aided by higher realisations due to price hikes and better product mix. It had reported a consolidated net profit of Rs 532.6 crore in the year-ago quarter, with revenues at Rs 2,828 crore.

Coal India, Eicher Motors, Grasim Industries, SpiceJet, Adani Enterprises, Adani Wilmar, Future Retail, Jet Airways, Manappuram Finance, PC Jeweller, Spandana Sphoorty Financial are among the 989 companies that will announce their quarterly earnings on 14 February.