Stocks to watch: Adani Ports, Dabur, L&T Infotech, ACC, Tata Alexi

Adani Ports: Israel on Thursday said it would sell Haifa Port, a major trade hub on its Mediterranean coast, for 4.1 billion shekels ($1.18 billion) to bidders Adani Ports of India and local chemicals and logistics group Gadot. According to an industry official, Adani will hold 70% stake and Gadot will hold the remaining 30%.

Dabur India: Consolidated Revenue of Fast Moving Consumer Goods Co. Ltd. 10,000 crore figure for the first time with an annual growth of 13.9 percent,

L&T Infotech: IT firm has reported net profit 634.40 crore for the first quarter of the current fiscal, up 27.7% year-on-year. Company’s revenue from operations increased 30.6% year-over-year 4,522.8 crore in the quarter. The company’s revenue grew 5.1% on a quarter-on-quarter basis, while net profit declined 0.5%.

Tata Alexi: The technology services company reported revenue of Rs. 725.9 crore of revenue from operations, an increase of 6.5% on the quarter and an increase of 30.0% year over year. Ebitda for the quarter increased by 7.6% to Rs 2382 crore as compared to the previous quarter. Profit after tax Rs. 184.7 crores which is an increase of 62.9 crores on a year-on-year basis.

ACC: Cement maker reports 60% drop in consolidated net profit 227.35 crore in the June 2022 quarter due to increase in fuel cost and related inflationary impact. The company, which follows the January-December financial year, made a profit of 569.45 crore in April-June, was on revenue from operations during the quarter under review 4,468.42 crore, up 15.01%.

life insurance corporation The insurance giant said Thursday it has embedded value 5,41,492 crore at the end of March this year as compared to Rs. 95,605 crore in the year-ago period. At the end of September 2021, the price was 5,39,686 crore.

Syngene InternationalThe Biocon arm has signed a 10-year agreement with animal health company, Zoetis, to manufacture pharmaceutical substances for Librella, which is used to treat osteoarthritis in dogs. The agreement paves the way for the development and manufacture of other molecules in the years to come, and Syngene is expected to value up to $500 million in more than 10 years.

Bharat Heavy Electricals: The state-run engineering firm said it has successfully commissioned a 100 MW floating solar photovoltaic plant NTPC Ramagundam in Telangana. The plant is installed in a natural raw water reservoir, saving valuable land resources, and also conserving water by reducing evaporation.

Vedanta: The Board of Directors of the company will consider and approve the second interim dividend on the shares for the financial year 2022-23 on July 19. The record date is being fixed as July 27 for the purpose of determining the eligibility of equity shareholders for dividend.

Tata Steel Long Products: The company posted a net loss of 331.09 crore in the June quarter, mainly on account of higher expenses. However, its total income increased 2,154.78 crore from 1,726.82 crore in the quarter ended June 2021. The company saw an increase in its expenses 2,489.58 crore from 1,282.59 crore in the same period a year ago.

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