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Stocks in news: Reliance Industries, Jio Platforms, M&M, CDSL, ITC, NTPC, IOCL and Hero MotoCorp

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In short

Reliance Industries and Indian Oil Corporation posted strong profit gains bolstered by digital operations and refining margins, while GAIL saw its net profit surge over 139%. Automobile makers Mahindra & Mahindra and Hero MotoCorp posted robust October sales growth across their utility vehicle and two-wheeler segments. Conversely, pharmaceutical major Sun Pharma suffered a 36% profit decline due to legal charges in the United States and acquisition-related expenses.

Key points

  • State-run and private energy majors registered significant profit growth driven by robust…: State-run and private energy majors registered significant profit growth driven by robust operational demand and healthy refining performance.
  • Leading automakers maintained strong consumer demand as reflected in expanding monthly di…: Leading automakers maintained strong consumer demand as reflected in expanding monthly dispatch and retail figures.
  • Pharmaceutical sector performance diverged from broader corporate gains due to significan…: Pharmaceutical sector performance diverged from broader corporate gains due to significant US litigation and acquisition costs.

Sources checked by our analysis pipeline: 1

Against this backdrop, several stocks, including Reliance Industries, Jio Platforms, Mahindra & Mahindra, CDSL, ITC, NTPC, Indian Oil Corporation and Hero MotoCorp, are likely to remain in focus on Monday, November 2 as the investors will track September-quarter earnings, monthly sales data, acquisition announcements, fundraising activity, operational updates and other corporate developments.

Reliance Industries

Mukesh Ambani-led Reliance Industries (RIL) on Friday reported a 41% year-on-year (YoY) increase in consolidated net profit attributable to shareholders at Rs 25,548 crore for the September quarter, compared with Rs 18,165 crore in the corresponding period last year.The growth was supported by a strong performance from its oil-to-chemicals and digital services businesses.

Jio Platforms

Jio Platforms reported a 14% YoY increase in consolidated net profit at Rs 8,389 crore in its maiden quarterly results following its listing earlier in the week.The performance was supported by healthy subscriber additions, growth in its digital services business and a marginal increase in average revenue per user (ARPU).

Revenue from operations rose 11% to Rs 40,475 crore from Rs 36,332 crore in the year-ago period.

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