Stocks to Watch: Coal India, Adani Ent, Happiest Minds, NTPC, Oberoi Hotels
Coal India: Coal India Limited posted a 10% year-on-year decline in net profit which stood at ₹7,941 crore during the quarter ending June 2023 down from ₹8,834 crore reported during the corresponding quarter last year. The net sales of the company grew marginally to ₹33,072.6 crore during the quarter under review from ₹32,497.9 during Q1FY23. Sequentially, Coal India's net profit jumped 43% from ₹5527.6 crore during the quarter ending March 2023.
The other operating income of Coal India increased 12.1% to ₹2,910.5 crore from ₹2,594 crore during the corresponding quarter previous fiscal year. Adani Enterprises/Adani Wilmar: Adani Enterprises Ltd. is currently investigating the possibility of divesting its interest in the consumer-staple joint venture listed on the Mumbai stock exchange, a collaboration it shares with Wilmar International Ltd.
This move aims to release funds that can be directed towards their primary business operations, as per sources familiar with the situation as reported by Moneycontrol. Over the past several months, the conglomerate has been evaluating the potential sale of its 44% stake in Adani Wilmar Ltd. Happiest Minds: Happiest Minds Technologies on Tuesday reported a net profit of ₹58.33 crore for the first quarter ended June 30 of fiscal year 2024.
The IT company reported net sales at ₹390.87 crore for the June quarter of fiscal year 2024. Total income stood at ₹404.53 crore in the first quarter ended June 30 of the fiscal year 2024, said Happiest Minds Technologies in an exchange filing. For the fiscal year 2023, Happiest Minds recorded revenue growth of 23.7% in constant currency terms, even as profit rose 27.5% to ₹230.99 crore over the year-ago period.
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