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L&T Stocks | Tech Mahindra Stocks: Stocks in news: Adani Enterprises, L&T, BPCL, Tech Mahindra, PNB, GAIL

The February futures contract of Nifty 50 traded on the Singapore Exchange indicates a positive start for domestic equities today. The contract was trading at 17,768, up 63 points or 0.36% from the previous close.

These are some of the stocks that will be in focus for the following reasons

Adani Enterprises
Abu Dhabi-based diversified conglomerate International Holding Co (IHC) will invest $400 million in the follow-on public offer (FPO) of Adani Enterprises. The investment commitment from IHC comes at a time when the mega FPO of billionaire Gautam Adani’s flagship company is struggling to sail through after the massive sell-off in stocks last week.

BPCL
State-owned BPCL’s reported consolidated net profit fell 36% to Rs 1,747 crore for the December quarter, compared with Rs 2,579 crore of last year’s quarter. Meanwhile, revenue from operations rose 13%.

L&T
Infra major Larsen & Toubro (L&T) saw 24% year-on-year rise in its profit after tax to Rs 2,553 crore for the quarter ended December. Revenue from operations also rose 17%.

Tech Mahindra
Tech Mahindra’s net profit for the December quarter declined 5% year-on-year (YoY) to Rs 1,297 crore. Revenue from operations increased 20% YoY to Rs 13,735 crore.Punjab National Bank
Public sector lender Punjab National Bank’s net profit fell 44% to Rs 629 crore in the three months ended December. The net profit stood at Rs 1,127 crore in the same period last year.

GAIL India
GAIL India, the country’s largest gas distributor, reported an almost 93% slump in third quarter profit, hit by lower gas sales due to supply disruptions.

Sun Pharma, ACC, Coal India, Vodafone Idea, Indian Hotels
The boards of these companies will meet to consider and approve earnings for the December quarter.

HDFC Bank
The final hearing on the merger of Housing Development Finance Corp (HDFC) with the bank will take place on February 3 at the Mumbai bench of the National Company Law Tribunal. The proposed merger has already received the approval of equity shareholders, the Competition Commission of India, the Reserve Bank of India, and stock exchanges.

Century Textiles and Industries
The company’s board has approved the allotment of 7.97% unsecured, unlisted, rated, redeemable, NCDs of the face of Rs 1 lakh each for cash at part aggregating to Rs 400 crore on a private placement basis.

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