Stocks to watch: CIL, Infosys, Adani Ports, PGCL, Jindal Steel, IHCL

Coal IndiaState-owned Coal India has reported a consolidated net profit of Rs. 7,755.55 crore for the third quarter (Q3FY23), up 70% from 4,558.39 crore in the corresponding quarter of the previous year, as the company’s generation was increased due to higher power demand amid inclement weather conditions. it beat the average estimate 7,678.03 crore by Bloomberg analysts. On a sequential basis, Net Profit after Tax (PAT) grew by 28% 6,043.55 crore in the previous quarter (Q2FY23).

InfosysSoftware services major Infosys on Tuesday admitted that it has appealed against a corporation tax assessment by UK authorities as British media reports cited the company’s annual report to reveal the dispute. Here are reports that the firm co-founded by British Prime Minister Rishi Sunak’s father-in-law Narayan Murthy was contesting a GBP 20 million tax bill with Her Majesty’s Department of Revenue and Customs (HMRC).

Power Grid Corporation: State-run Power Grid Corporation on Tuesday reported nearly 11% rise in its consolidated net profit 3,645.34 crore in the December quarter as compared to a year ago mainly on the back of higher revenue. The consolidated net profit of the company was 3,292.97 crore in the quarter ended December 31, 2021, showed a BSE filing. The total income of the company increased 11,530.22 crore in the quarter 10,723.61 crore in the same period a year ago.

Jindal SteelJindal Steel on Tuesday reported a 67.9% decline in consolidated net profit 518.67 crore for the December 2022 quarter. it is against the net profit of 1616.67 crore in the year-ago period. Consolidated revenue from operations declined by 0.57% 12,452.44 crore as against 12524.86 crore in the corresponding quarter of the previous financial year. Jindal Steel & Power recorded an production of 2.06 million tonnes during the quarter, up 13% sequentially. Sales came in at 1.90 Mt, down 6% QoQ.

Adani PortsAdani Group on Tuesday acquired the strategic Israeli port of Haifa for USD 1.2 billion and the Mediterranean city’s skyline as part of its decision to invest more in the Jewish nation, including opening an artificial intelligence lab in Tel Aviv. vowed to change. Adani Group Chairman Gautam Adani, whose business empire was rocked by allegations of fraud by US short seller Hindenburg Research, appeared with Israeli Prime Minister Benjamin Netanyahu to sign a deal to acquire Haifa Port, and invest Talked about opportunities.

Tata Motors: Tata Motors said on Tuesday that it has raised the second and final tranche In October 2021, Tata Motors announced that it will raise USD 1 billion in its passenger electric vehicle (EV) business from TPG Rise Climate in exchange for compulsorily convertible preference shares. A portfolio of EVs and dedicated Battery Electric Vehicle (BEV) platforms. Tata Motors and TPG Rise Climate entered into a binding agreement under which TPG, along with its co-investor ADQ, will invest in a subsidiary of Tata Motors.

Godrej Consumer: Godrej Consumers reported 3.5% rise in consolidated profit on Tuesday 546.3 crore in the December 2022 quarter. it is against the net profit of 527.6 crore in the year-ago period. Consolidated revenue from operations was up 9% 3,598.9 crore as against 3,302.6 crore in the corresponding quarter of the previous fiscal. but the total expenditure was more 2,969.52 crore as against 2,714.32 crore in the year-ago period.

Indian Hotels CompanyTata Group’s hospitality firm Indian Hotels Company Limited on Tuesday reported an over four-fold jump in consolidated net profit. 403.56 crore December 2022 quarter. This is against the consolidated net profit of 95.96 crore in the year-ago period. Consolidated revenue from operations increased by 51.6% 1,685.8 crore as against 1,111.22 crore in the corresponding period of the previous financial year. but the total expenditure was more 1,248.62 crore in the third quarter, up from Rs. 1,014.23 crore a year ago.

vodafone ideaTroubled telco Vodafone Idea on Tuesday said its board has approved the issue of up to optionally convertible debentures 1,600 crore to the vendor American Tower Corporation. Following a meeting of the board of directors, the company said in a regulatory filing that it would seek shareholders’ approval by convening an extraordinary general meeting on February 25. “The funds so raised shall be utilized by the Company for payment of outstanding dues to ATC under the Master Lease Agreement and to the extent remaining, for general corporate purposes of the Company,” the filing said.

Westlife Foodworld: Westlife Foodworld Ltd continued its uptrend in the December quarter (Q3FY23), but much was expected. It recorded highest ever quarterly revenue 611.5 crores. This represents 28% year-on-year (yoy) growth. The operator of McDonald’s restaurants in west and south India saw an increase in customer footfalls in the last quarter. This led to same-store sales growth (SSSG) of 20% year-over-year. In the second quarter, with the help of a lower base, SSSG stood at a higher rate of 40%. However, in Q3, average sales per store were sequentially higher on a trailing 12-month basis.