Stocks to watch: HDFC Bank, Adani Enterprises, HCL Tech, Root Mobile

HDFC bank: The bank’s quarterly profit rose 18% for the quarter ended September, buoyed by strong credit growth. net income was ₹88.3 billion ($1.17 billion) compared to Rs 75.1 billion a year ago. This beat the average estimate of Rs 86.50 billion.

Adani Enterprises: Adani Wilmar has received SEBI nod for its upcoming initial public offering (IPO). The manufacturer of the Fortune cooking oil brand is a joint venture Adani Enterprises and Wilmar International.

HCL Technology: IT company reported a net profit of ₹3,265 crore in the September quarter, up 3.9% and beating Bloomberg’s consensus estimates ₹3,196.50 crore. HCL’s consolidated revenue from operations jumps 11% ₹20,655 crore during the reported quarter.

Avenue SupermartsCompany, which owns retail chain D-Mart, reported a two-fold increase in its consolidated net profit ₹417.76 crore for the second quarter ended September. Its revenue from operations was up 46.79% ₹7,788.94 crore during the quarter. total expenses were ₹7,248.74 crore, up 43.63%.

Coal India: A senior CIL official told PTI that the mining major cut off the supply in the non-power sector, but it was completed as alleged by some quarters to meet emergency requirements for power plants amid fuel shortage. Not closed in any way.

PNB Housing Finance: Lender has canceled ₹Rs 4,000 crore share sale plan to US-based private equity firm Carlyle Group and others. The deal got bogged down in legal issues in terms of valuation. SEBI had last month approached the Supreme Court against the order of the Securities Appellate Tribunal in the matter related to the company. ₹4,000 crore equity capital raising plan. The matter is sub judice in the top court.

Indiabulls Real Estate: The company reported a consolidated net profit of ₹5.64 crore for the quarter ended September and announced the resignation of Sameer Gehlot as non-executive director and chairman of the company with effect from December 31.

Lupine: The US-based arm of the drug firm is voluntarily recalling all batches of two high blood pressure drugs because of the possible presence of a substance that could cause cancer. Lupine Pharmaceuticals Inc. is voluntarily recalling Lrbesartan Tablets and Lrbesartan and Hydrochlorothiazide Tablets at the consumer level due to the possible presence of an N-nitrosoirbesartan impurity.

Route Mobile: Receives shareholder approval to grow enterprise communications service provider ₹2,000 crore through the sale of securities. Majority of the shareholders also approved the increasing limit for foreign portfolio investment in the company.

Scient: Company’s consolidated revenue up 5% for the September quarter ₹1,111.60 crore, while net profit was up 5% ₹121.30 crore against ₹115 crores.