Stocks to Watch: RIL, Airtel, Hero Moto, Tata Steel, GAIL, BPCL, Britannia
Reliance Industries: Reliance Industries is mulling over raising ₹15,000 crore via the sale of a local-currency bond, reported CNBC-TV 18 citing Bloomberg. The company shares closed 0.35% higher at ₹2296.65 per share on BSE on Wednesday. The giant conglomerate had raised $4 billion in U.S.
dollar bonds last year, reported news agency Reuters. The fundraising activity was India's largest-ever foreign currency bond deal. Bharti Airtel: Bharti Airtel will be spending much less on the upcoming spectrum auctions and subsequent sales over the next couple of years, as it does not require additional airwaves, but will renew spectrum in a few circles, managing director Gopal Vittal said during the earnings call on Wednesday.
The top executive of the Sunil Mittal-promoted carrier said that a strategy for the upcoming auctions will be in place once they're announced. Hero MotoCorp: Hero Motocorp posted a net profit of ₹1,054 crore in the second quarter of the fiscal year 2023-24, which is 47% higher as compared to ₹716 crore reported in the year-ago period, as per the financial results declared by the company on November 1. The automobile major clocked an operational revenue of ₹9,445 crore during Q2FY24, higher by 4.1% as compared to ₹9,075 crore recorded in the corresponding period of the previous fiscal.
Tata Steel: Tata Steel Ltd on Monday swung to its highest quarterly loss in two fiscal years after it booked a ₹6,358 crore impairment charge related to a decarbonization project at its Port Talbot plant in the UK. The steelmaker reported a loss of ₹6,511 crore for the three months ended 30 September from a profit of ₹1,297 crore a year earlier. Tata Steel’s consolidated revenue from operations fell 7.5% to ₹55,682 crore during
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