Stocks to watch: Reliance, ITC, Zomato, Union Bank of India, UPL

Reliance IndustriesIndia’s biggest ever auction of telecom spectrum got a record 1.5 lakh crore bid, in which Mukesh Ambani’s Reliance Jio bought almost half of all airwaves for a . sold with 88,078 crore bid. Reliance Jio on Monday said it is gearing up to launch an advanced 5G network to make India a global leader in digital connectivity and solutions.

ITCITC Ltd on Monday reported 33.46 per cent growth in consolidated net profit 4,462.25 crore for the April-June quarter, following a good performance from its business verticals. The company posted a net profit of 3,343.44 crore during the April-June quarter of the previous financial year. Its revenue from operations was up 39.25% 19,831.27 crore during the quarter under review.

zomatoOnline food delivery platform Zomato on Monday said its consolidated net loss has nearly halved in the first quarter of the current fiscal. 186 crores due to higher income. The company had posted a net loss of 360.7 crore in the year-ago period. During the quarter under review, the company’s total income increased to 1,582 crore against 916.6 crore in the corresponding period of last year.

Union Bank of IndiaUnion Bank of India hopes to recover 15,000 crore from bad loan accounts during the current financial year, and a major part of it will come from accounts undergoing insolvency resolution process. It hopes to make the recovery worth 10,000 crore from accounts under the National Company Law Tribunal (NCLT) for resolution of bad loans in 2022-23, the bank said last week during an analysts’ conference after announcing June 2022-23 quarter earnings.

UPLAgrochemical major UPL Ltd on Monday reported 34.17% rise in consolidated net profit 1,005 crore for the quarter ended June 30 as compared to the same period of the previous financial year. Company’s consolidated net 749 crore during the April-June quarter of 2021-22, UPL said in a BSE filing. The Company’s operating revenue grew by 27.08% during the quarter under review. done 10,821 crore

Punjab And Sind BankState-owned Punjab and Sind Bank on Monday reported 18% rise in net profit 205 crore in the April-June quarter of FY23, helped by a decline in bad loans. The bank posted a net profit of 174 crore in the year-ago quarter. Sequentially, it had recorded a net profit of 346 crore in the January-March 2022 quarter. The total income of the bank declined during the quarter under review from 1,91,547 crore 2,03,961 crore recorded in the same quarter of FY21

Eveready IndustriesBattery and flashlight maker Eveready Industries India Ltd on Monday reported a 27.48 per cent fall in its consolidated net profit. 21.85 crore for the quarter ended June 30, 2022. The company posted a net profit of 30.13 crore in the April-June period a year ago. Its revenue from operations rose 18.87% to . was 335.38 crore during the quarter under review 282.14 crore in the year-ago period.

Castrol IndiaLube maker Castrol India on Monday reported 47% growth in profit after tax 206.26 crore in the June quarter. The company had filed profit after tax (PAT) 140 crore in the second quarter of 2021, Castrol India said in a statement. Castrol India follows January–December as its fiscal year.

Varun BeveragesFenton Investments and Arvind Singhania on Monday entered into a settlement with markets regulator Sebi after clearing a case relating to alleged insider trading in shares of Varun Beverages. 63 lakhs. Both applicants proposed to settle the alleged violation of the Insider Trading Rules through a settlement order “without accepting or denying the findings”. Both the applicants allegedly violated the provisions of the Insider Trading Rules.

Kansai Nerolac PaintsKansai Nerolac Paints Ltd on Monday reported a rise of 36.51 per cent in its consolidated net profit 152.05 crore for the first quarter ended June 30, 2022. The company posted a net profit of 111.38 crore in the April-June period a year ago, Kansai Nerolac said in a BSE filing. Its revenue from operations grew 46.23% 2,051.37 crore from 1,402.76 crore in the year-ago quarter.

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