Stocks in the news: TechM, Adani Transmission, Infy, Axis Bank, PNB and Adani Ports

Adani Transmission, P&GHH, Dalmia Bharat:

, Procter & Gamble Hygiene & Healthcare, Dalmia Bharat, Mahindra & Mahindra Financial Services, , , , EIH, , and KSB are among the companies that will announce their results for September 2022 quarter today.

Tech Mahindra: The country’s fifth largest IT services exporter reported a 4 per cent decline in profit for the September quarter at Rs 1,285 crore, citing a compression in profit margin. The IT major’s total revenues rose 20.7 per cent to Rs 13,129 crore for the reporting quarter as against the same period year-ago.

Infosys: The IT major will seek shareholders’ nod for its proposed Rs 9,300 crore share buyback between November 3 to December 2 through postal ballot. The Infosys board on October 13 had announced a share buyback of Rs 9,300 crore via the open market route, for a price not exceeding Rs 1,850 per equity share.

Axis Bank: US-based private equity major Bain Capital divested 0.54 per cent stake or 1,66,80,000 shares in the private sector lender at an average price of Rs 891.38 a piece, taking the transaction size to Rs 1,486.82 crore, according to bulk deal data available with BSE.

Adani Ports and SEZ: The Adani Group company’s consolidated profit increased by 65.5 per cent to Rs 1,738 crore for the quarter ended September FY23, supported by top line, operating income and lower tax cost. Revenue surged 33 per cent YoY to Rs 5,211 crore for the quarter.

Punjab National Bank: The state-owned lende reported a 63 per cent decline in standalone net profit to Rs 411 crore for the September quarter on account of higher provisioning for bad loans. The bank had posted a net profit of Rs 1,105 crore in the year-ago period.

NMDC: The state-owned mining player reported an over 6 per cent fall in its iron ore production at 19.71 million tonnes (MT) during April-October, 2022. The mining giant had produced 21.04 MT iron ore during the same period of preceding fiscal.


JK Tyre & Industries: The tyre manufacturer said its consolidated net profit declined 23 per cent to Rs 50 crore for the second quarter ended September 30, 2022. It had reported a net profit of Rs 65 crore in the July-September period of last fiscal.

Macrotech Developers: The realty firm reported a consolidated net loss of Rs 933 crore for the quarter ended September due to provisions made for loan given to its British arm for development of projects. It markets its properties under the Lodha brand and is one of the leading real estate developers in the country.

Voltas: The air conditioning and engineering services provider reported a consolidated net loss of Rs 6.04 crore for the second quarter ended September 2022 on account of provisions made for an overseas project. The Tata group firm had posted a consolidated net profit of Rs 104.29 crore in the July-September quarter last fiscal.


: The second largest pure-play mortgage lender announced a 23 per cent on-year growth in net profit at Rs 305 crore for the three months period ending September. The subsidiary of the country’s largest insurer LIC said its net interest income for the quarter declined marginally to Rs 1,163 crore from Rs 1,173 crore.

: The paint manufacturer company has recorded a 27 per cent year-on-year increase in consolidated profit at Rs 111.2 crore for the quarter ended September FY23, supported by higher operating income. Revenue from operations grew by 19 per cent YoY to Rs 1,931 crore for the quarter.


NCC: The civil construction company has received two new orders for Rs 1,056 crore in October 2022. All these orders are related to water and environment division and is received from state government agencies.

Max Healthcare: The healthcare chain reported more than doubling of its profit after tax to Rs 511 crore for the second quarter ended September helped by a one-time gain of Rs 244 crore. It had reported a PAT (Profit After Tax) of Rs 207 crore in the corresponding period a year ago.

HFCL: The domestic telecom gear maker will invest around Rs 425 crore for manufacturing equipment under the production linked incentive scheme in the next four years. HFCL is one of the 42 companies selected for the telecom PLI scheme which enables it to avail incentives up to Rs 652.79 crore.


: The private lender bank recorded a massive 228 per cent year-on-year growth in standalone profit at Rs 412 crore for the quarter ended September FY23 as there was a write-back of provisions and contingencies of Rs 14 crore in Q2FY23. Net interest income grew by 26 per cent YoY to Rs 803 crore for the quarter.


: The Tata Group firm will invest over Rs 750 crore under design-led Production Linked Incentive (PLI) scheme for manufacturing of telecom and networking products. Tejas Networks is one of the 42 companies selected for the scheme.

: The company has terminated the acquisition of TIME. It had entered into a share purchase agreement (SPA) for the acquisition of 100 per cent shareholding of Hyderabad-based firm in April 2022. The transactions could not be consummated by the long stop date.

: The manufacturer of industrial intermediate chemicals has reported a standalone profit after tax for the second quarter ending September 30, 2022 at Rs 26.62 crore. The standalone PAT stood at Rs 45.20 crore during corresponding period previous year.

: The NSE listed logistics firm has entered in a contract with the mining major Vedanta. It has received the Letter of Intent for the tender for aluminium finished goods transportation to West cluster for a period of one year and an approximate value of Rs 146 crore.