Stocks to Watch: Wipro, HCL, Adani Wilmar, Reliance Power, SAIL

By siliconindia  |  Thursday, 13 October 2022, 09:08:13 AM IST

Stocks to Watch: Wipro, HCL, Adani Wilmar, Reliance Power, SAIL
Infosys: Information Technology (IT) major Wipro Ltd on Wednesday reported a dip in its consolidated profit after tax (PAT) at 2,659 crore for the quarter ended September 2022 (Q2FY23). This is a 9.27% decline from 2,930.7 crore posted in the same period last year (Q2FY22). However, on a sequential basis, PAT rose 3.72% from 2,563.6 crore in the previous June quarter (Q1FY23). The Bengaluru-based company's consolidated revenue grew 14.6% to 22,540 crore compared to 19,667 crore in the same period a year ago.
HCL Tech: IT company HCL Technologies on Wednesday reported a 6% year-on-year (YoY) jump in consolidated net profit at 3,489 crore for the second quarter ended 30 September 2022. The company reported a profit of 3,259 crore in the same period last year (Q2FY22). HCL Tech's consolidated revenue in the quarter under review climbed 5.2% QoQ and 19.5% YoY to 24,686 crore as against 20,655 crore in Q2FY22.
Adani Wilmar: Edible oil major Adani Wilmar on Wednesday said the company's overall revenue in the July-September quarter will annually grow by low single-digit amid a fall in rates of edible oils. Adani Wilmar markets its edible oils and other food items under the Fortune brand. In a regulatory filing, the company shared a preliminary update on the standalone performance during the quarter ended in September.
Sterling and Wilson Renewable Energy: Sterling and Wilson Renewable Energy Ltd (SWRE) on Wednesday said that it has bagged an order worth 2,212 crore from NTPC REL. The order from NTPC Renewable Energy Ltd (NTPC REL) is for its proposed 1,255 MWac/1,568 MWdc solar PV project at Khavda RE Power Park, Rann of Kutch, Gujarat, SWRE said in a BSE filing.
SAIL: The Central government on Wednesday scrapped the privatisation of the Steel Authority of India's (SAIL) Bhadravathi steel plant. This is due to insufficient bidder interest. The government had invited an Expression of Interest (EoI) for divesting SAIL's 100 per cent stake in Visvesvaraya Iron and Steel Plant (VISP), Bhadravathi in Karnataka in July 2019. The Department of Investment and Public Asset Management (DIPAM) said multiple EoIs had been received and qualified bidders had conducted due diligence.
Reliance Power: Reliance Power and its subsidiaries on Wednesday signed definitive documents with Värde Partners to raise debt of about 1000 crore. The proceeds will be utilised to settle debts, Reliance Power said in a regulatory filing. "The transaction is subject to satisfaction of conditions precedent as identified in the definitive documents. The proceeds will be utilized to settle and discharge/restructure existing debts; thereby achieving debt resolution and enhancing credit profile," the regulatory filing noted.
PVR/Inox Leisure: Multiplexes chain company, PVR on Wednesday received shareholders' approval for a merger with rival Inox Leisure. In March, PVR and the Inox Leisure board of directors approved a share swap amalgamation scheme where Inox will merge with PVR. In a meeting held on October 11, PVR sought equity shareholders' approval for the Inox merger. In March, PVR and the Inox Leisure board of directors approved a share swap amalgamation scheme where Inox will merge with PVR.
BHEL: Bharat Heavy Electricals Limited (BHEL) has entered into strategic MoUs with Coal India Limited (CIL) and NLC India Limited (NLCIL) for setting up coal gasification-based plants, the company said in a release. Under these MoUs, BHEL will jointly set up a coal-to-ammonium nitrate project with CIL based on the gasification of high ash Indian coal, and a lignite-based gasification pilot plant with NLCIL for power generation, said the press release.
Dish TV: Dish TV India has settled a case related to the alleged non-disclosure of voting results of the company's Annual General Meeting (AGM) held on December 30, 2021, with the market regulator, Sebi. Direct-to-Home operator Dish TV India, its promoter Jawahar Lal Goel, group chief executive Anil Kumar Dua, compliance officer Ranjit Singh and Ashok Mathai Kurien, who was the director of the company, settled the case.
Gretex Corporate Services: This BSE-listed small-cap stock has announced bonus shares in the ratio of 88:1, which means 8 bonus shares for each paid-up capital held by the shareholder. The board of directors of the company has fixed 14th October 2022 as the record date for the bonus share issue on an ex-date basis. This means the stock will trade ex-bonus today.

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