Stocks in the news: TechM, Tata Motors, Adani Enterprises, Nestle, ICICI Lombard and ZEEL

Nestle, UltraTech, : Nestle (India),

, IndusInd Bank, Havells India, , , , , Metro Brands and are among the companies that will announce their results for September 2022 quarter today.


Tech Mahindra: The country’s fifth largest IT services exporter announced it will be hiring 3,000 people in Gujarat over the next five years. The company’s current staff strength in Gujarat could not be immediately ascertained.

Tata Motors: The homegrown auto major has received an order for 200 electric buses which will be deployed in Jammu and Srinagar. The Mumbai-based auto major has won the tender of 200 electric buses floated by Jammu Smart City.


Adani Enterprises: Adani Defence & Aerospace, a subsidiary of Adani Group’s flagship firm, has decided to acquire Air Works for an enterprise value of Rs 400 crore. Adani Defence Systems & Technologies has signed definitive agreements for the acquisition of Air Works, the biggest and highly diversified independent MRO with the largest pan-India network.


Zee Entertainment: Investment firm Invesco and OFI Global China along with other entities sold 5,29,35,068 shares or 5.51 per cent in the media major at an average price of Rs 263.7 apiece aggregating to Rs 1,396 crore through open transactions, according to block deal data available with the National Stock Exchange (NSE).


ICICI Lombard General Insurance: The private sector non-life player reported a 32.2 per cent growth in net profit at Rs 591 crore for the September quarter, boosted by a tax reversal of Rs 128 crore. The ICICI Bank group company said excluding this tax reversal, net income inched up by 3.4 per cent. In the year-ago quarter.


Polycab India: The wires and cables manufacturer reported a 36.72 per cent growth in consolidated profit during the September quarter at Rs 270.45 crore. The company’s profit stood at Rs 197.80 during the corresponding quarter of 2021-22.

L&T Technology Services: The midcap IT company posted a 22.7 per cent growth in consolidated net profit to Rs 282.4 crore for the second quarter ended September 2022. The company had reported a net profit of Rs 230 crore in the same period a year ago.


HFCL: The domestic telecom gear maker’s consolidated net profit remained flat at Rs 84.31 crore for the quarter ended September 30, 2022. The company had posted a net profit of Rs 85.94 crore in the same period a year ago.

Samvardhana Motherson International: Sojitz Corporation divested 12.8 crore or 2.83 per cent stake in the auto component major at a average price of Rs 64.53 apeice for a consideration of Rs 825.98 crore through an open market transaction, according to the bulk deal data available with the BSE.

: The telecom player reported a 25 per cent increase in its consolidated net profit at Rs 532.29 crore in the July-September quarter of the current financial year. The company had recorded a net profit of Rs 425.38 crore in the same period a year ago.

: The EPC company registered a 44.4 per cent year-on-year growth in consolidated profit at Rs 48.13 crore for the quarter ended September FY23, backed by healthy topline and operating income growth. Revenue grew by 64.64 per cent to Rs 876.6 crore.

: The media firm reported a 95.55 per cent decline in its consolidated net profit to Rs 10.28 crore for the second quarter ended September 30, 2022. The company had posted a net profit of Rs 231.40 crore for the July-September period of the previous fiscal.

: The auto ancillary company has recorded a 3 per cent growth in consolidated profit at Rs 171.4 crore for the quarter ended September FY23 supported by topline and other income, but dented by higher tax cost. Revenue grew by 30 per cent to Rs 2,723 crore.

The : The Tata Steel arm reported a loss of Rs 35.10 crore for the quarter ended September 30, mainly on account of increased expenses. Its profit during the July-September period of 2021-22 fiscal stood at Rs 74.93 crore.

: A US government arm announced a $35 million loan to the domestic microlender, which will eventually help 5 lakh women entrepreneurs gain access to credit. The US government’s Development Finance Corporation (DFC) also signed an agreement for a $10 million loan guarantee for Punjab Renewable

.

Network18 Media & Investments: The media firm reported a consolidated net loss of Rs 28.84 crore for the second quarter that ended on September 30, 2022. The company had posted a net profit of Rs 199.27 crore during the July-September period a year ago.


KPI Green Energy: The renewable energy player posted a jump of over 72 per cent in its consolidated net profit to Rs 21.15 crore in the September quarter mainly on the back of higher revenues. The consolidated net profit of the company was Rs 12.25 crore in the year-ago period.