Stocks to Watch: RIL, IRCTC, Power Grid, IndiGo, Shree Cement, SJVN

livemint.com:

Reliance Industries: Billionaire Mukesh Ambani’s Reliance Industries Ltd. is seeking to raise as much as 200 billion rupees ($2.4 billion) via rupee-denominated bonds, according to filings seen by Bloomberg. The base size of the sale is 100 billion rupees with an option to retain subscriptions worth another 100 billion rupees.

The 10-year bonds will be auctioned on Thursday and are rated AAA with a stable outlook by rating companies Crisil and CareEdge. IRCTC: Indian Railway Catering and Transportation Corporation (IRCTC) reported a rise of 30.4% in net profit at ₹294.7 crore, compared to ₹226 crore in the corresponding period last year. The Indian Railways' e-ticketing arm's revenue from operations in the second quarter of the current fiscal stood at ₹995.3 crore, registering a growth of 23.5%, compared to ₹805.8 crore in the year-ago period.

EBITDA in the quarter came in at ₹366.5 crore, a growth of 20.2%. Powergrid: Powergrid Corporation of India posted a consolidated net profit of ₹3,781.4 crore in the second quarter of fiscal year 2023-24 (Q2FY24), as per the financial results declared by the state-run company on November 7. The net profit was higher by 3.6% as compared to ₹3,650.3 crore reported in the year-ago period.

Sequentially, the net profit was up by 5% as against ₹3,597.1 crore posted in the first quarter of the current fiscal. InterGlobe Aviation: IndiGo, India's largest airline, anticipates grounding at least 35 planes in the upcoming March quarter due to a powder metal issue with the Pratt & Whitney engines. This adds to the nearly 40 aircraft already grounded for other engine-related issues.