STOCKS IN SPOTLIGHT IndusInd Bank, Tata Metaliks, Coforge, and others in news today

Stocks to Watch: Check out the companies making headlines before the opening bell.

Results on January 18: IndusInd Bank to be in focus ahead of quarterly earnings on January 18. IndusInd Bank, Alok Industries, CCL Products (India), Central Bank of India, Oracle Financial Services Software, Persistent Systems, PSP Projects, Rallis India, Shemaroo Entertainment, and Surya Roshni will be in focus ahead of quarterly earnings on January 18.

Tata Metaliks: The Tata Group company has reported profit at Rs 9.48 crore for December FY23 quarter, falling 74% year-on-year dented by weak operating performance. Input cost and finance cost hit bottomline. However, revenue from operations grew by 14.5% YoY to Rs 790.23 crore for the quarter

Dishman Carbogen Amcis: The company has received board approval for allotment of market-linked non-convertible debentures worth Rs 100 crore on a private placement basis in one or more tranche(s). These NCDs will list on Wholesale Debt Market Segment of BSE

Glenmark Pharmaceuticals: The pharma company entered into an agreement with Eris Oaknet Healthcare, a wholly owned subsidiary of Eris Lifesciences, to divest the tail brands from its dermatology segment, for India and Nepal territories. The transaction cost is Rs 340.48 crore. The divested tail brands include Onabet, Halovate, Sorvate, Luligee, Demelan, Aceret, Dosetil, Revize, and Powercort, and their sub-brands. This divestment is in line with Glenmark’s strategy of focusing on its leading brands in the dermatology segment

ICICI Lombard General Insurance Company: The insurance company has reported a 11% year-on-year growth in profit at Rs 352.53 crore for quarter ended December FY23. Premium earned at Rs 3,792 crore for the quarter grew by 14.5% YoY and total income grew by 13.2% to Rs 4,362 crore in Q3FY23.

Shalby: The multispeciality hospitals operator has clocked a 17% year-on-year decline in consolidated profit at Rs 15.3 crore for quarter ended December FY23, with muted topline growth and weak operating performance. Revenue from operations grew by 0.3% to Rs 202.5 crore compared to corresponding period last fiscal

Gokaldas Exports: Goldman Sachs Asset Management International bought additional 0.018% stake in the company via open market transactions on January 13. With this, its shareholding in Gokaldas rose to 5.003%, from 4.985% earlier.

Coforge: Life Insurance Corporation of India has purchased additional 0.057% stake in the IT services company via open market transactions on January 16. With this, LIC’s shareholding in the company increased to 5.033%, from 4.976% earlier.

EID Parry (India): The new 120 KLPD distillery of the company at sugar unit, Sankili in Andhra Pradesh, has commenced commercial operations. The said sugar unit has the flexibility to operate with multiple feedstocks molasses/cane juice & syrup/grain based.

Gulshan Polyols: The chemicals company has recorded profit at Rs 11.85 crore for quarter ended December FY23, down 38% YoY on higher input cost, employee expenses and other expenses. However, revenue from operations increased 13.3% to Rs 331.6 crore for the said quarter.

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