Stocks in the news: Vedanta, Maruti, Lupin, NTPC, Hero MotoCorp and Dr Reddy’s Labs

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Nifty futures on the Singapore Exchange traded 193.5 points, or 1.08 per cent higher at 18,028, signalling that Dalal Street was headed for a higher start on Monday. Here are a few stocks which may buzz the most in today’s trade:

3i Infotech,

, , , LT Foods, , Saregama Industries, , Tata Steel, , Mold-Tek, , , are among the companies that will announce their results for September 2022 quarter today.

Vedanta: Mining conglomerate Vedanta reported a 60.8 per cent decline in consolidated net profit at Rs 1,808 crore for the quarter that ended September 30 on the back of higher expenses. The company had posted a consolidated net profit of Rs 4,615 crore in the year-ago period.

: The automobile firm reported an over four-fold increase in consolidated net profit to Rs 2,112.5 crore in the second quarter that ended September 30, 2022, riding on record sales.

Lupin: The US FDA inspected Lupin’s Nagpur Unit-2 injectable manufacturing facility. The inspection was a Pre-Approval Inspection (PAI) of the injectable facility. The inspection closed with the issuance of a Form-483 with five observations.

NTPC: State-run power giant NTPC reported an over 7 per cent dip in its consolidated net profit at Rs 3,417.67 crore for the September quarter FY23, mainly due to higher expenses. The consolidated net profit of the company stood at Rs 3,690.95 crore in the quarter that ended September 30, 2021.

: Credit rating firm ICRA has reaffirmed the Long-term rating of the company at ICRA AA+ and Short-term rating at ICRA A1+. The outlook on the Long-term rating is stable.

Blue Dart: The company reported 17.95 per cent growth in total revenues for the September 2022 quarter on a consolidated basis at Rs1,325 crore. The net profit margin stood at 7.07 per cent in Q2FY23 is lower compared to 8.06 per cent in Q1FY22 and lower than 9.18 per cent in Q1FY23.

: The company has received final approval from the United States Food and Drug Administration (USFDA) to market Acetaminophen Injection, 1,000 mg/100mL (10 mg/mL) single-dose vials (USRLD: Ofirmev®)

: The US FDA has completed a PreApproval Inspection (PAI) at its manufacturing facility at Unit-5, Parawada, Visakhapatnam, Andhra Pradesh and issued a Form 483 with one observation.

: The country’s largest two-wheeler maker Hero MotoCorp Friday said it has registered healthy double-digit growth in retail sales in the festive season. Retail sales of the company increased by 20% over the corresponding festive period of FY’22, Hero MotoCorp said, which enabled it to consolidate its leadership in the domestic two-wheeler market.

Dr Reddy’s Labs: Dr Reddy’s Laboratories reported a nearly 12% year-on-year (YoY) rise in consolidated net profit for the quarter that ended September at Rs 1,114 crore. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter rose about 40% on year to Rs 1,899 crore. The operating margin expanded 651 basis points to 29.99 per cent.

: Private sector Bandhan Bank reported a net profit of Rs 209 crore for the September quarter as against a Rs 3,009 crore loss in the year-ago period. The bank made Rs 1,280 crore provisions in the September quarter against Rs 5,614 crore in the year-ago period. Net interest income rose 13.3 per cent to Rs 2,193 crore.

Sumitomo Chemicals: Sumitomo Chemicals reported a 23.2 per cent growth in total revenues for the September 2022 quarter on a consolidated basis at Rs1,128 cr. The consolidated Profit after tax (PAT) of the company for the September 2022 quarter was up 30.6 per cent at Rs 201.47 crore.

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