Five Large Cap names that retail investors should keep an eye on today!
Check out the large-cap companies making headlines in the morning trade session.
Among the Large caps companies, Reliance Industries, Dr Reddy’s Laboratories, TVS Motors, Ashok Leyland and Voltas were among the stocks that were in the news on Monday. Let us see why!
Reliance Industries: Jio Platforms, the wholly-owned subsidiary of Reliance Industries today announced that it was entering into a partnership with Luxembourg-based satellite services provider, SES, to deliver scalable and affordable broadband services in India. The duo will form a joint venture, which will be the vehicle for providing SES’s satellite data and connectivity services in India, except for certain international aeronautical and maritime customers who may be served by SES. The total value of the contract is estimated to be around US$ 100 million. Jio Platforms Limited and SES will own 51% and 49% equity stake each in the joint venture. At noon on Monday, Reliance was trading at Rs 2342.60, down 1.44% or 34.25 per share.
Dr Reddy’s Laboratories: The drugmaker entered into an exclusive sales and distribution agreement with Novartis India Limited for select Indian brands. With India business as a key growth driver, arrangement will strengthen the company’s presence in key therapy areas. This arrangement is to further enhance patient access to well-established brands in the important therapy areas of pain management, women’s health and bone health. At 12 pm on Monday, Dr Reddy’s Laboratories was trading at Rs 4239.80, down 2.02% or 87.50 per share.
TVS Motors: This stock is in focus after its promoter, ie - Sundaram Clayton on Friday sold around 95 lakh shares or a 2% stake in the company at an average price of Rs 635.97 per share via an open market transaction on the BSE. With this sale, Sundaram Clayton stake will be at around 50.26% from 52.26% earlier. By noon on Monday, TVS Motors was trading at Rs 660.05, up by 0.06% or 0.40 per share.
Ashok Leyland: Ashok Leyland reported its Q3 numbers after market hours on Friday and was among the stocks in the news on Monday. The company’s revenue grew by 11.79% YoY to Rs 6627.35 crore from Rs 5928.15 crore in Q3FY21, led by higher domestic MHCV volumes which grew by 15%. PBIDT (Ex OI) was reported at Rs 657.89 crore, down by 11.93% as compared to the year-ago period and the corresponding margin was reported at 9.88%, contracting by 267 basis points YoY. The company reported a net loss of Rs 113.16 crore from Rs 38.41 crore profit in the same quarter for the previous fiscal year. In the afternoon deals on Monday, Ashok Leyland was trading at Rs 126.35, down 4.96% or 6.60 per share.
Voltas: This stock was in the news today after it reported its numbers for the quarter ended December 2021. The net profit of the company fell 25% YoY on a 10% decline in revenue. The company stated that it faced subdued demand and the impact of omicron dented market sentiments. These factors impacted the performance of the Cooling Products segment. The stock has fallen over 8% in the last one month while so far this year it declined nearly 3%. At the time of writing, Voltas was trading at Rs 1181, down 0.94% or 11.20 per share.
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