Stocks to Focus: Jio Financial Services, PNC Infratech, NALCO, Angel One and More
Here’s a look at stocks to watch out for today
Jio Financial Services: The company reported a combined profit of Rs 293.82 crore in the December quarter, compared to Rs 668.2 crore in the preceding quarter. Revenue from operations stood at Rs 413.6 crore, down from Rs 608 crore in the previous quarter. This decrease is attributed to the absence of dividend income in the current quarter, which was Rs 216.85 crore in the previous one.
NALCO & Hindustan Copper: Khanij Bidesh India Ltd (KABIL), a collaboration involving NALCO, Hindustan Copper, and Mineral Exploration Co. Ltd, has inked an agreement with Argentina's CAMYEN SE for lithium exploration and mining. This marks the inaugural lithium project undertaken by an Indian PSU. KABIL is set to commence exploration and development activities across five lithium brine blocks, covering 15,703 hectares in Argentina’s Catamarca province, with an investment of Rs 200 crore.
BLS International: The wholly-owned subsidiary, BLS International FZE, UAE, has formally entered into an agreement to acquire a 100% stake in iDATA, a Turkish visa and consular service provider. The acquisition, valued at €50 million or approximately Rs 400 crore, is anticipated to be finalized within the current financial year.
PNC Infratech: PNC Infratech and its subsidiary, PNC Infra Holdings, have finalized agreements with Highways Infrastructure Trust (HIT) to divest 12 road assets located in Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan.
Angel One: The retail stock-broking company reported a net profit of Rs 260.3 crore in the December quarter, reflecting a 14.2% increase from the previous year. Year-on-year, revenue from operations surged by 41.5% to Rs 1,059 crore.
Rail Vikas Nigam Ltd: RVNL has secured the status of the lowest bidder for a Rs 251 crore project from Madhya Pradesh Vidyut Vitran Co, expected to be completed within 24 months.
Aster DM Healthcare: Affinity Holdings and Alpha GCC Holdings are planning to divest their stake in the GCC (Gulf Co-Operation Council) business. The board is considering distributing 70-80% of the upfront consideration, amounting to $903 million, as dividends to shareholders.
Sarda Energy & Minerals: The company has clinched a Rs 150-crore contract for the installation of a 50 MW DC solar power plant in Chhattisgarh, catering to the captive requirements of production and mining facilities.
Shakti Pumps: The board is scheduled to convene on 18 January to evaluate the possibility of raising funds through a qualified institutional placement.
