Stocks to watch: Tata Motors, Biocon, Colgate-Palmolive, IIFL, Hero MotoCorp

Tata Motors: Tata Motors reports consolidated net loss on Wednesday Chip shortage and COVID-19 lockdown in China hit 4,951 crore Jaguar Land Rover sales in the June quarter. The company had reported a consolidated net loss of 4,450 crore in the same quarter of the previous financial year. Consolidated revenue from operations during the reporting period was 71,935 crore as against 66,406 crore in the year-ago period, the company said.

Colgate Palmolive-: FMCG major Colgate-Palmolive India Ltd on Wednesday reported a decline of 10.1% in net profit 209.67 crore for the June quarter, impacted by overall rural slowdown and inflationary pressures. The company posted a net profit of 233.23 crore in the April-June period a year ago, Colgate-Palmolive India Ltd (CPIL) said in a regulatory filing. Its revenue from operations was up 2.48% 1,186.59 crore during the quarter under review. In the period a year ago, the same was 1,157.86 crores.

bioconBiotechnology major Biocon on Wednesday reported 71% rise in consolidated net profit 144 crore for the June quarter on the back of strong growth in the business vertical. The company posted a net profit of 84 crore in the April-June quarter of the last financial year. total revenue increased 2,217 crore in the first quarter as compared to 1,808 crore in the year-ago period, Biocon said in a regulatory filing.

Manjushree TechnopackAdvent International-backed Manjushree Technopack (MTL) on Wednesday announced that it will acquire cap and closure maker Hitesh Plastics for an undisclosed amount in a slump sale. According to an official statement, MTL will strengthen its position as an integrated rigid plastic packaging player with the acquisition, which will also help it add two plants in Jalgaon, Maharashtra.

Tata SteelDomestic giant Tata Steel on Wednesday said it has entered into an agreement with a Bengaluru-based startup for drone-based mining solutions for effective mine management. The primary goal of this collaboration is to jointly develop and offer sustainable and fully integrated solutions that will focus on the efficiency, safety and productivity of open cast mining operations.

Dixon TechnologiesElectronic manufacturing services firm Dixon Technologies (India) Ltd on Wednesday reported a more than two-fold increase in its consolidated net profit. 45.43 crore in the April-June quarter of FY23. The company posted a net profit of 18.16 crore in the same period a year ago. Its revenue from operations was up 52.89% 2,855.07 crore as against 1,867.29 crore in the corresponding quarter of the previous financial year.

IIFL FinanceIIFL Finance reports 24% rise in consolidated net profit on Wednesday 330 crore in the quarter ended June on higher interest income. The non-banking finance company had earned a net profit of 250 crore in a year ago period. Total income increased during the April-June quarter of the current financial year 1,975 crore as against 1,532 crore in the same period a year ago, it said in a regulatory filing.

Hero MotocorpHero MotoCorp has joined hands with Accenture for cost optimization in its supply chain as the two-wheeler maker prepares to expand globally as well as enter the electric vehicle segment. It will also deploy a supply chain control tower powered by data and analytics to enable better supply chain and logistics planning, the statement said.

blue dart expressLogistics service provider Blue Dart Express on Wednesday reported a more than three-fold increase in consolidated profit after tax. 118.79 crore in the April-June 2022 quarter as compared to the same period a year ago. The company had posted a consolidated PAT of 313 crore in the quarter ended June 2021, Blue Dart said in a statement. Revenue from operations during the reporting quarter was 1,293.3, registering a growth of 49.3% 866.2 crores were recorded in the first quarter of FY 2012.

JK Laxmi CementThe company reported a 15.49% decline in its consolidated net profit on Wednesday 115.07 crore for the first quarter ended June 30. The company had made a profit of 136.17 crore in the April-June period a year ago, JK Lakshmi Cement said in a regulatory filing. Its revenue from operations was up 24.78% 1,654.14 crore during the quarter under review 1,325.58 crore in the year-ago period.

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