Stocks to watch: Tata Steel, Titan, Future Retail, Spicejet, Kotak Mahindra Bank

NEW DELHI: Here are the top 10 stocks that could be in the spotlight on Wednesday:

Tata Steel: The company reported a 37% year-on-year jump in consolidated net profit to 9,835.12 crores for the March quarter, led by higher revenue. Total revenue increased to 69,615.70 crore from 50,300.55 crores a year ago. Tata Steel’s board has recommended a record dividend of 51 per share and also recommended the stock split at 1 Re per par value share in a 10:1 split.

Adani Enterprises: Announced a 2% year-on-year decline in consolidated net profit at 325.76 crores for the quarter ended March, due to higher expenses. The consolidated result amounts to 25,141.56 crores of 13,688.95 crores a year ago.

Titan Co: The Tata group company announced a 7.2% year-on-year drop in its consolidated net profit at 527 crores for three months until March. Total revenue increased by 4.25% for 7,872 crores during the period. The turnover of the jewelery segment amounts to 6,843 crores from January to March, up 2.47% year on year.

Future Retail: Amazon wrote to Sebi, asking the regulator to investigate Future Retail Ltd (FRL) for “material suppression” and “false disclosures” by the Indian retailer, “defrauding its shareholders and Indian investors generally”. Amazon has also taken legal action, accusing FRL of alienating its retail assets in favor of Reliance Industries.

MotoCorp Heroes: The nation’s largest two-wheeler maker reported a 30% year-over-year drop in consolidated net profit for the March quarter to 621 crore due to lower sales. Total sales in the fourth quarter of FY22 were 11.9 lakh units, down 24% year-on-year.

SpiceJet: The Aircraft Accident Investigation Bureau is investigating the crash of SpiceJet’s Mumbai-Durgapur flight. The event is classified as an “accident” in accordance with the standards of the International Civil Aviation Organization. The Directorate General of Civil Aviation has conducted a preliminary investigation and initiated an inspection of the entire SpiceJet fleet

Biocon: Subsidiary Biocon Biologics said on Tuesday that the Irish health regulator had flagged shortcomings in the manufacturing process at the company’s factory in Bengaluru. The GMP inspection of one of Biocon Biologics’ new monoclonal antibody drug substance manufacturing facilities was conducted between March 28 and April 1.

Godrej propertys: Published net income of 259 crores for the quarter ended March, compared to a loss of 192 crores a year ago. Total revenue increased to 1522.57 crore in the last quarter of 576.08 crores a year ago. The company aims to make approx. 10,000 crore sales bookings in 2022-23.

Adani Wilmar: Acquired the Kohinoor brand from McCormick Switzerland GMBH for an undisclosed amount. The acquisition would give Adani Wilmar exclusive rights to the ‘Kohinoor’ basmati rice brand as well as the ‘Ready to Cook’, ‘Ready to Eat’ portfolio of curries and meals in India.

Britannia Industries: Announced a 5% year-over-year increase in consolidated profit at 378 crores for the March quarter. Operating revenue increased by 13.4% to 3,550.5 crores. The company said it wisely raised prices from January to March due to cost inflation and would undertake further such calibrated increases to maintain profitability.

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