Stocks to Watch: LTI Mindtree, Reliance, Tata Elxsi, Sheela Foam, Amara Raja

livemint.com:

LTIMindtree: The IT services firm reported a net profit of ₹1,151 crore, a 4% increase in the June quarter. Its operational revenue for the quarter stood at ₹8,702 crore, marking a 14% growth. The company recorded earnings before interest, tax, depreciation, and amortisation of ₹1,635 crore for the June quarter, reflecting a 9% year-on-year rise.

Tata Elxsi: The company reported a net profit of ₹188.9 crore, up 2.3% atyear-on-year. Its revenue saw an impressive 17.1% surge, reaching ₹850.3 crore as opposed to ₹725.9 crore YoY. Earnings Before Interest and Taxes (EBIT) also increased by 4.1% at ₹230.1 crore compared to ₹221.1 crore YoY.

However, the company's margin saw a decline, registering at 27.1% versus 30.5% YoY. Reliance Industries: The National Stock Exchange will conduct a special pre-market session on 20 July for Reliance on account of demerger of its financial services business into Reliance Strategic Investments Limited. BSE also announced that Jio Financial will be added to 18 of the S&P BSE indices, including the S&P BSE Sensex, starting 20 July for a period of three days - on account of Reliance Industries being a part of the special pre-open session.

After three days, it will be dropped from all the S&P BSE indices at the last traded price. Sheela Foam: The company's board had approved two acquisitions involving a 94.6% stake in Kurlon Enterprise Limited (KEL) and a 35% stake in Furlenco owner House of Kieraya Pvt Ltd. It is acquiring 94.66% of KEL at an equity valuation of ₹2150 crore, subject to customary adjustments for working capital, debt and surplus cash.