Stocks to Watch: Nykaa, Maruti, ONGC, Future Retail

Nykaa: Shares of online beauty retailer Nykaa made a stellar stock market debut on 10 November. The company on Sunday reported a consolidated net profit of ₹1.2 crore for the quarter ended September, down 95% year-on-year. Operating profit was at ₹28 crore during the quarter, with an Ebitda margin of 3.3%. Revenue from operations rose 47% YoY and 8% sequentially to ₹885 crore.

Future Retail: Independent directors at Future Retail have disclosed new documents in a letter to the Competition Commission of India (CCI) aiming to bolster their case against Amazon.com Inc as they seek to revoke a 2019 deal between the two companies. The directors reviewed records related to the 2019 deal between Future Coupons and Amazon, and argued that disclosures by the U.S. company before the CCI when it sought approval for the deal contradicted Amazon’s own internal communications at the time.

Maruti Suzuki: Has received approval for setting up of a new manufacturing unit in Haryana. Chief minister of Haryana, Manohar Lal Khattar, on Saturday said a clearance has been given to auto major Maruti Suzuki for setting up a new plant over 900 acres of land at Kharkhoda in Sonipat district. India’s largest car maker already has two units in Haryana – one each in Gurugram and Manesar

Coal India: The state-owned miner reported a consolidated net profit of ₹2,933 crore for the second quarter (Q2FY22), down marginally from ₹2,951 crore profit reported in the year-ago period. SequentialLY, net profit fell 7.5%. Revenue from operations rose 10% YoY to ₹23,291 crore for the period under review.

ONGC: State-owned Oil and Natural Gas Corp. Ltd (ONGC) reported a net profit of ₹18,348 crore for the September quarter, up 565% from the year-ago period. The upstream hydrocarbon explorer clocked a 44% increase in revenue to ₹24,353 crore for the quarter from ₹16,916 crore in the year-ago period.

Hero Motocorp: Two-wheeler market leader Hero MotoCorp has reported a 22% decline in its consolidated net profit to ₹747.79 crore for the second quarter ended September, hit by lower sales. The company said its electric vehicle project is in advanced stages and is gearing up to launch the first product by March 2022. Consolidated revenue from operations was at ₹8,538.85 crore as against ₹9,473.32 crore in the year-ago quarter,.

HCL Tech: HCL Technologies has opened a new global delivery centre at Hartford, Connecticut, in the US. The new centre serves its flagship client in the region, Stanley Black & Decker, and will expand to support clients across industries including manufacturing, aerospace and defence, insurance, life sciences and healthcare. HCL also plans to create 500 new jobs in Connecticut in the next 24 to 36 months.

Manappuram Finance: Has reported an 8.8% year-on-year decline in its consolidated net profit to ₹370 crore for the quarter ended September due to lower income. However, the non-banking finance company’s consolidated assets under management (AUM) grew 5.7% YoY to ₹28,421 crore. Its gold loan portfolio stood at ₹18,719.53 crore, up 13.2% quarter-on-quarter.

Indian Oil: State-owned Indian Oil Corp. and NTPC have signed an agreement to collaborate on renewable energy. This comes in the backdrop of Indian Oil announcing its plan to build the country’s first green hydrogen plant at its Mathura refinery. India is considering a proposal to make it mandatory for fertilizer plants and oil refineries to purchase green hydrogen as part of plans to cut the nation’s dependence on fossil fuels.

Vodafone Idea: Reported its 13th straight quarterly loss, although it narrowed from a year earlier. The cash-strapped telecom operator reported a loss of ₹7,132 crore for the three months ended 30 September compared with a loss of ₹7,319 crore in the preceding three months and ₹7,218 crore in the year-earlier September quarter.