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Stocks in news today

May 8, 2023

Piramal Enterprises: The firm suffered a loss of Rs 196 crore in the March ended quarter of 2023 due to a 375-crore MTM loss for its equity investment in Shriram Finance.

Paytm: Paytm posted its operating profits for two straight quarters. The firm’s consolidated net loss saturated to Rs 168 crore from Rs 761 crore a year ago.

Revenue from operations hiked 52% y-o-y to Rs 2,335 crore in the March quarter of FY23.

Adani Power: The firm reported a hike of 12.9% in its consolidated net profit at Rs 5,242.48 crore vs Rs 4,654 crore for the fiscal fourth quarter. The net profit doubled to Rs 10726 crore from Rs 4911.5 crore for FY23.

Thermax: Thermax concludes a Rs 271.5 crore order from India’s biggest oil refinery in the private sector for the mechanical balance of plant (MBOP) works for the captive power plant(CPP) at their new oil-to- chemical(02C) facility in western parts of India.

Aditya Birla Fashion and Retail: The firm is all set to acquire a 51% stake in TCNS clothing. The firm will launch an open offer to acquire a stake of 29% at Rs 503/share.

PNC Infratech: PNC Infratech acquires an EPC project worth Rs 771.46 crore from Haryana Orbital Rail Corporation Limited.

Coal India: Coal India reported an 18% decline in its consolidated net profit of Rs 5,528 crore for the fourth quarter that ended March vs Rs 6,715 crore for the same period last year.

Amara Raja Batteries: The firm launched one of India’s largest, and Telangana’s first Gigafactory with a ceremony at Divitipalli in Mahabubnagar. The gigafactory will produce lithium cells and battery packs with a capacity of 16 GWh and 5 GWh respectively.