Stocks to Watch: Jio Financial Services, PNC Infratech, NALCO, Angel One
Jio Financial Services: The company recorded a consolidated profit of ₹293.82 crore for the December quarter, against ₹668.2 crore in the previous quarter. Revenue from operations came in at ₹413.6 crore against ₹608 crore during the previous one as the company had no dividend income in the quarter, against ₹216.85 crore in the previous one. NALCO & Hindustan Copper: Khanij Bidesh India Ltd (KABIL), a joint venture between NALCO, Hindustan Copper, and Mineral Exploration Co.
Ltd, has signed an agreement with Argentina's CAMYEN SE to explore and mine lithium. This is the first lithium exploration and mining project by an Indian PSU. KABIL will start exploring and developing five lithium brine blocks covering 15,703 hectares in Argentina’s Catamarca province at a cost of ₹200 crore.
BLS International: Its wholly owned subsidiary BLS International FZE, UAE, has signed a definitive agreement to acquire a 100% stake in iDATA, a Turkish visa and consular service provider. The acquisition has an enterprise value of €50 million or nearly ₹400 crore, and the deal is likely to be completed this financial year. PNC Infratech: The company and its subsidiary PNC Infra Holdings have executed definitive agreements with Highways Infrastructure Trust (HIT) to divest 12 road assets in Uttar Pradesh, Madhya Pradesh, Karnataka and Rajasthan.
Angel One: The retail stock-broking firm recorded a net profit of ₹260.3 crore in the December quarter, up 14.2% from the previous year. Revenue from operations rose 41.5% year-on-year to ₹1,059 crore. Rail Vikas Nigam Ltd: RVNL has emerged as the lowest bidder for a ₹251 crore project from Madhya Pradesh Vidyut Vitran Co, which is expected to be completed in 24 months.
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