Buzzing Stocks: Larsen & Toubro, Tech Mahindra, Coal India, and others in news today

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

Results on January 31:

Coal India to be in focus ahead of its quarterly earnings scheduled to be published on January 31. Besides CIL, Power Grid Corporation of India, Sun Pharmaceutical Industries, UPL, ACC, BASF India, Blue Star, Edelweiss Financial Services, Great Eastern Shipping, Godrej Consumer Products, Indian Hotels, Indian Oil Corporation, Jindal Steel & Power, KEC International, KPIT Technologies, Max Financial Services, MOIL, RailTel Corporation of India, Spandana Sphoorty Financial, Star Health, and TTK Prestige will release their earnings reports for the December quarter today.

Larsen & Toubro:

The infrastructure major has reported a robust 24% year-on-year growth in consolidated profit at Rs 2,553 crore despite weak operating margin performance. Consolidated revenues at Rs 46,390 crore for the quarter grew by 17% YoY aided by improved execution in the infrastructure projects segment and continued growth momentum in the IT&TS portfolio. The company received orders worth Rs 60,710 crore during the quarter, a 21% YoY growth, taking the consolidated order book to Rs 3.86 lakh crore as of December FY23

Tech Mahindra:

The IT services company has clocked a 0.9% sequential growth in consolidated profit at Rs 1,297 crore for quarter ended December FY23, with revenue rising 4.6% QoQ to Rs 13,735 crore, beating analysts’ estimates. Revenue in dollar terms grew by 1.8% QoQ to $1,668 million with constant currency revenue growth at 0.2%. Operating numbers were ahead of expectations while deal wins at $795 million for the quarter.

Bharat Petroleum Corporation:

The state-owned oil retailer clocked standalone profit at Rs 1,960 crore for December FY23 quarter against loss of Rs 304.2 crore in previous quarter, with strong operating performance with fall in oil prices. Revenue grew by nearly 4% sequentially to Rs 1.19 lakh crore

UltraTech Cement:

UAE subsidiary UltraTech Cement Middle East Investments has signed agreement to acquire 70% stake in Duqm Cement Project International, LLC, Oman, for $2.25 million.

Life Insurance Corporation of India:

LIC’s total holding under equity and debt is Rs 35,917.31 crore under Adani group of companies as of December FY23. The total purchase value of equity under all the Adani group companies is Rs 30,127 crore and the market value for the same as at close of market hours on January 27 was Rs 56,142 crore.

Adani Enterprises:

International Holding Company, the diversified Abu Dhabi-based conglomerate, will be investing $400 million into Adani Enterprises’ further public offering (FPO), through its subsidiary Green Transmission Investment Holding RSC Limited. The Rs 20,000 crore FPO subscribed 3% on second day of bidding.


Inputs and Reuters have been taken from other sources will not responsible for any kind of wrong news.

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