Stocks in the news

Torrent Pharma: The company reported a higher consolidated profit at Rs 297 crore in Q3FY21 against Rs 251 crore in Q3FY20; revenue increased to Rs 1,995 crore from Rs 1,966 crore YoY.

NMDC: The company reported sharply higher profit at Rs 2,108 crore in Q3FY21 against Rs 1,375 crore in Q3FY20, and revenue jumped to Rs 4,355.1 crore from Rs 3,006.4 crore YoY.

Majesco: Third Alpha LLP, Third Edge Advisors LLP, Alpha Alternatives Multi Strategy Absolute Return Scheme, and Alpha Alternatives Fund Advisors LLP reduced their stake in the company to 2.56 percent from 5.65 percent via open market sale.

Jindal Stainless (Hisar): The company reported a higher consolidated profit at Rs 270.20 crore in Q3FY21 against Rs 82.04 crore in Q3FY20; revenue rose to Rs 3,146.65 crore from Rs 2,484.12 crore YoY.

Sun TV Network: The company reported a higher consolidated profit at Rs 445.41 crore in Q3FY21 against Rs 384.69 crore in Q3FY20. Revenue rose to Rs 994.14 crore from Rs 847.81 crore YoY.

Redington India: The company reported consolidated profit at Rs 201.94 crore in Q3FY21 against Rs 182.30 crore in Q2FY21. Revenue jumped to Rs 16,980.84 crore from Rs 13,763.94 crore QoQ.

Balkrishna Industries: To set up brownfield expansion and debottlenecking project along with addition of balancing and ancillary equipment at Bhuj. The project will result in increase of achievable tyre production capacity by 50,000 MTPA and is expected to be completed by H2FY23. The project is estimated to cost up to Rs 800 crore. Additionally, the board will enhance carbon black capacities and set up a captive power plant. The said project is expected to be completed by H1FY21 and is estimated to cost Rs 650 crore. The board also approved modernisation, automation and technology upgradation of certain existing equipment and installation of automated material handling systems at its facilities in Rajasthan and Bhuj. This project is expected to be completed by H1FY21 and will cost Rs 450 crore. The total planned capex of Rs 1,900 crore will be funded by internal accruals and debt, if required.

Crompton Greaves Consumer Electricals: Promoter Amalfiaco Holdings plans to sell 2.83 crore shares or 4.5% of the total equity through a block deal. The floor price of the deal is Rs 387 per share which is a 5.2% discount to Monday's closing price, as per the terms of the deal accessed by Bloomberg News. As per the December quarter shareholding pattern, Amalfiaco held 11.42% stake in the company.

Reliance Industries: Delhi High Court division bench stayed the order of the single judge in Future Retail Vs Amazon case. Order pronounced by Delhi High Court division bench of Chief Justice DN Patel and Justice Jyoti Singh. Future Retail had challenged the single judge February 2 order directing a status quo on Future Retail- Reliance Retail deal.

UltraTech Cement: Finance committee of the Board of Directors approved the issuance of unconditional, unsubordinate and unsecured U.S. Dollar denominated notes worth $400 million or Rs 3,000 crore. The notes will have a tenor of 10 years and the interest payable on the same will be 2.8% per annum. The notes will be listed on the Singapore Exchange Securities Trading Ltd.

Vedanta: A meeting of Committee of Directors is proposed to be held on February 11 to consider offering of secured NCDs aggregating up to Rs 500 crore in one or more tranches.

Kirloskar Ferrous Industries: Renovation of the assets relating to pig iron plant situated at Paramenahally Village in Karnataka has been completed and manufacturing operations of pig iron commenced on February 8, 2021 after obtaining necessary approvals from government authorities.

IFB Industries: Has filed the Scheme of Amalgamation of Trishan Metals, a wholly-owned subsidiary of the company, with National Company Law Tribunal, Kolkata.

NCL Industries: Has approved the proposal to set up 250 panels per day capacity Sandwich Panel Unit in Paonta Sahib in Himachal Pradesh at an estimated cost of around Rs 2 crore. The unit is expected to commence production in 6 months from the date of final clearances from state government.

VST Tillers Tractors: Has announced a technical supplier partnership with Monarch tractors. The two companies have worked collaboratively for over a year on the technical development of tractor hardware for the first series of Monarch Tractors.

Wipro: Has appointed Michael Seiger as the Country Head and Managing Director for Germany and Austria.

Sundram Fasteners: CRISIL has re-affirmed the rating of short-term debt and commercial paper as A1+.

Hinduja Global Solutions: Has declared third interim dividend of Rs 6 per equity share for FY21.

Nifty Earnings Today: Adani Ports & SEZ, Tata Steel

Non-Nifty Earnings Today: Abbott India, AIA Engineering, Akzo Nobel India, Aster DM Healthcare, BASF India, Berger Paints, Bodal Chemicals, Burger King, Central Bank of India, Century Plyboards, Chalet Hotels, Dhanlaxmi Bank, Future Retail, GMDC, Gujarat Alkali & Chemicals, HEG, Heidelberg Cement, Igarashi Motors, Indoco Remedies, Indian Overseas Bank, J&K Bank, KRBL, Lemon Tree Hotels, Mahanagar Gas, Muthoot Finance, Nilkamal, Raymond, Spandana Sphoorty, TCI Express, Varroc Engineering, VST Tillers