Stocks to watch today – Reliance, Kotak, Ola
Several Indian companies are in the spotlight on Monday as they prepare to announce second-quarter earnings. Indus Towers, Indian Oil Corporation, Adani Energy Solutions, Kaffin Technologies and Mazagon Dock Shipbuilders will report financial results that may affect share prices.
Reliance Industries examines how fresh sanctions from the European Union, Britain and the United States affect Russian crude imports and European refined product shipments. Kotak Mahindra Bank posted net interest income of 7,311 crore rupees, up 4 percent from last year, though net profit fell 3 percent to 3,253 crore rupees.
The Finance Ministry named General Insurance Corporation Executive Director Hitesh Joshi as chairman and managing director for three months. Ola Electric secured board approval to raise 1,500 crore rupees despite trading below its 76-rupee initial public offering price.
Dr. Reddy’s Laboratories earned 1,347 crore rupees in the September quarter profit, marking 7.3 percent growth. The Income Tax Appellate Tribunal granted Indian Oil Corporation relief of 1,102.91 crore rupees from a disputed tax demand.
