Stocks to watch: Indian Oil, Bank of Baroda, Indian Bank, Zee Entertainment

Indian OilGovernment-run Indian Oil Corporation (IOC) reported a net loss on Friday 1,993 crore for the first quarter of the current financial year as against a net profit of Rs. 5,941 crore was registered in the corresponding period of last year. The company’s profit declined sharply due to higher input costs. IOC’s revenue from operations increased 2,51,933 crore for the quarter ended June 30.

Bank Of BarodaState-owned Bank of Baroda on Saturday reported a 79.3% rise in its standalone profit after tax (PAT) 2,168 crore in the quarter ended June 30 on higher growth in net interest income (NII). It is compared with profit after tax 1,209 crore in the same quarter of the previous financial year. Net Interest Income (NII) up 12% 8,838 crore as against 7,892 crore in the year-ago period.

Indian BankIndian Bank reports 2.7% growth in net profit on Saturday 1,213.44 crore for the April-June quarter on lower earnings growth, while provisioning declined by a fair margin. The state-run bank had posted a net profit of 1,181.66 crore in the same quarter of June 2021. The bank’s net income grew marginally during the April-June period of 2022-23 11,758.29 crore to 11,444.27 crore in the year-ago period.

torrent powerTorrent Power on Saturday said it has acquired 100 per cent stake in Wind to Energy Pvt Ltd (WTRPL) 32.51 crore from INOX Green Energy Services. The company has acquired 3,25,10,000 equity shares of WTRPL at face value 10 each, the BSE filing said.

DLFRealty major DLF’s net debt down 16% during April-June period 2,259 crore from the previous quarter on the back of strong housing sales. its net debt was 2,680 crore at the end of the last financial year. In an investor presentation, DLF said the company is “committed to further reduction in debt in the medium term”.

zee entertainmentZee Entertainment on Friday said it has received approval from stock exchanges BSE and NSE for the proposed merger with Sony Pictures Networks India. The proposed merger with Culver Max Entertainment Pvt Ltd (formerly Sony Pictures Networks India) has been approved by the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

IDFC First BankIDFC First Bank on Saturday reported its highest ever net profit 474 crore for the quarter ended June 2022, primarily driven by lower provisioning and higher earnings. The private sector lender had posted a net loss of 630 crore in the year-ago quarter. Sequentially, net profit increased by 38.2% 343 crore in the March 2022 quarter.

Yes BankAfter trials and tribulations over fundraising that lasted over three years, Yes Bank on Friday announced that private equity funds Carlyle and Advent International will invest USD 1.115 billion (approximately). 8,900 crore) to boost its future growth. Both global PE funds will acquire 10% stake in the private sector lender, which had to bail out the RBI and government-led reconstruction plan for lack of capital buffers and the then management failing to sell the bank’s story. to investors.

Mangalore Refinery and Petrochemicals: MRPL is looking to expand its network of petrol pumps in Tamil Nadu, Andhra Pradesh and Telangana as it seeks to tap the markets around its refinery, its chairman has said. MRPL’s (Mangalore Refinery & Petrochemicals Limited) petrol pump network is currently concentrated in Karnataka and Kerala. The subsidiary of state-owned Oil and Natural Gas Corporation (ONGC) has forayed into retailing of fuel in a limited manner, focusing on areas close to its oil refinery in Mangalore, Karnataka.

ONGC: ONGC Videsh Limited, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), and Indian Oil Corporation (IOC) are in talks to acquire a stake in Tullow Oil’s Lokichar oil field in Kenya. Kenya’s Cabinet Secretary in the Ministry of Energy, Monica Zuma, confirmed the conversation in a tweet.

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