Stocks to watch: Nykaa, Maruti, ONGC, Future Retail

Hero: Shares of online beauty retailer Nykaa made a great start in the stock market on November 10. The company reported a consolidated net profit on Sunday 1.2 crore for the quarter ended September, down 95% year-on-year. was on operating profit 28 crore during the quarter, with an Ebitda margin of 3.3%. Revenue from operations up 47% YoY and 8% sequentially 885 crores.

Future Retail: Independent directors of Future Retail have disclosed new documents in a letter to the Competition Commission of India (CCI) aimed at bolstering their case against Amazon.com Inc. want. The directors reviewed records relating to the 2019 deal between Future Coupons and Amazon, and argued that the disclosures made by the US company to the CCI contradicted Amazon’s own internal communications at the time it sought approval for the deal.

Maruti Suzuki: Approval has been given to set up a new manufacturing unit in Haryana. Haryana Chief Minister Manohar Lal Khattar on Saturday said auto major Maruti Suzuki has been given approval to set up a new plant on over 900 acres of land at Kharkhoda in Sonipat district. India’s largest carmaker already has two units in Haryana – one each in Gurugram and Manesar.

Coal India: State-owned miners reported consolidated net profit of 2,933 crore for the second quarter (Q2FY22), marginal decrease from 2,951 crore profit was registered in the year-ago period. Sequentially, net profit fell 7.5%. Operating income grew 10% year-on-year. happened 23,291 crore for the period under review.

ONGC: State-owned Oil and Natural Gas Corporation Limited (ONGC) reported a net profit of 18,348 crore for the September quarter, up 565% from the year-ago period. Upstream Hydrocarbon Explorer registers 44% growth in revenue 24,353 crore for the quarter from 16,916 crore in the year-ago period.

Hero MotoCorp: Two-wheeler market leader Hero MotoCorp reports 22% fall in its consolidated net profit 747.79 crore for the second quarter ended September, impacted by lower sales. The company said that its electric vehicle project is in advanced stages and is set to launch the first product by March 2022. Consolidated revenue from operations was on 8,538.85 crore as against 9,473.32 crore in the year-ago quarter.

HCL Tech: HCL Technologies has opened a new global distribution center in the US in Hartford, Connecticut. The new center serves its key customer in the region, Stanley Black & Decker, and will expand to support customers in industries including manufacturing, aerospace and defense, insurance, life sciences and healthcare. HCL also plans to create 500 new jobs in Connecticut over the next 24 to 36 months.

Manappuram Finance: has reported a 8.8% year-on-year decline in its consolidated net profit 370 crore for the quarter ended September on account of lower income. However, the non-banking finance company’s consolidated assets under management (AUM) grew by 5.7% year-on-year 28,421 crores. Its gold loan remained on the portfolio 18,719.53 crore, up 13.2% quarter-on-quarter.

Indian Oil: State-owned Indian Oil Corp and NTPC have signed an agreement to collaborate on renewable energy. This comes in the backdrop of Indian Oil announcing plans to build the country’s first green hydrogen plant at its Mathura refinery. India is considering a proposal to make it mandatory for fertilizer plants and oil refineries to buy green hydrogen as part of a plan to reduce the country’s dependence on fossil fuels.

Vodafone Idea: It reported its 13th consecutive quarterly loss, though it was less than a year ago. Cash-strapped telecom operator reported the loss Against a loss of Rs 7,132 crore for the three months ended 30 September 7,319 crore in the last three months and 7,218 crore in the September quarter a year ago.