Tuesday, May 17, 2022
Home Business Reliance Industries, Coal India, Jet Airways, SpiceJet, ONGC, Adani Wilmar stocks in...

Reliance Industries, Coal India, Jet Airways, SpiceJet, ONGC, Adani Wilmar stocks in focus


Till the time the global uncertainty continues, market volatility is expected to remain on the higher side. Hence Traders are advised to avoid leverage and stay light on their positions.

Following a worst fall in 10 months, BSE Sensex and Nifty 50 ended 3 per cent down on Monday. Nifty futures were trading up 121.50 points or 0.72 per cent up at 16960.50 on Singaporean Exchange in Tuesday’s early trade. Analysts say that the government is planning the mega IPO of LIC in March, which can suck up liquidity in the capital market as Rs 70,000 crore is a huge number to deal with – especially in the last month of the fiscal. “Till the time the global uncertainty continues, market volatility is expected to remain on the higher side. Hence Traders are advised to avoid leverage and stay light on their positions,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.

Stocks to watch

Reliance Industries Ltd: RIL’s digital entity Jio Platforms will acquire about 17 per cent stake in SoftBank-backed Inmobi’s Glance platform for USD 200 million (about Rs 1,500 crore). The proposed deal values the company at USD 1.8 billion. Jio will acquire about 17 per cent stake in Glance for USD 200 million, the company said in a press release.

Coal India: Coal India reported a 47.7 per cent rise in consolidated net profit to Rs 4,558.39 crore for the quarter ended on December 31, 2021, on the back of higher revenue from operations.

Natco Pharma: Natco Pharma on Monday said its consolidated net profit increased by 27 per cent to Rs 80.4 crore for the third quarter ended December 31, 2021. The Hyderabad-based company had reported a net profit of Rs 63.4 crore in the October-December period of previous fiscal.

Manappuram Finance: Manappuram Finance on Monday reported a 46% decline in its consolidated net profit to Rs 261 crore for the quarter ended December 2021 as income fell.

Jet Airways: Jet Airways, which is working to restart operations that were grounded nearly three years ago, will receive Rs 50 crore as inter-corporate deposit from a company owned by Jalan group for certain expenses.

Spicejet: Kalanithi Maran and his company KAL Airways on Monday turned down the one-time settlement offer of Rs 600 crore made by low-cost carrier SpiceJet as part of ending all its pending disputes, including the share transfer issue, between the two parties.

ONGC: Oil and Natural Gas Corporation’s delayed Krishna Godavari basin KG-D5 project is likely to hit peak oil and natural gas output in 2023-24 and will help the firm to reverse the downward slide in its overall production, a senior official said on Monday.

Adani Wilmar: Edible oil major Adani Wilmar on Monday reported a 66 per cent increase in its consolidated net profit at Rs 211.41 crore for the quarter ended December on higher sales. Its net profit stood at Rs 127.39 crore in the year-ago period.

Q3 results today: BSE-listed firms such as Crisil Enkei Wheels (India), Gujarat Credit Corporation, Garbi Finvest, Soma Textiles & Industries, Polo Hotels, Mitsh India and Advance Syntex are among the companies that will announce their December quarter results today.

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