Stocks in news: RIL, ICICI Bank, Adani Ports, Kotak Mahindra Bank, RITES, Tata Power & Honasa

Indian benchmark indices settled in red for another trading session on Wednesday, despite scripting a sharp recovery from day’s low. However, the overall sentiments remain weak on the back of rich valuations and Q3 earnings. BSE Sensex shed 122.52 points, or 0.16 per cent, to end at 76,171.08. NSE’s Nifty50 dropped 26.55 points, or 0.12 per cent, to settle at 23,045.25. Here are the stocks that may remain under spotlight before the opening bell on Thursday, February 13, 2025:

Q3 results today: Hindalco Industries, United Breweries, Ipca Laboratories, SJVN, Deepak Nitrite, Godfrey Phillips India, ITI, Concord Biotech, Grindwell Norton, KIOCL, Afcons Construction, Manappuram Finance, Titagarh Rail Systems, MMTC, Reliance Infrastructure, Nazara Technologies and KNR Construction are among the companies that will announce their results for the quarter ended on December 31, 2024 later today.

Corporate actions: Shares of Eris Lifesciences, NHPC, Page Industries, Sun TV Network, Veedol Corporation and United Van Der Horst shall trade ex-dividend today.

Reliance Industries: The leading conglomerate has incorporated a wholly owned subsidiary, REC Sustainable Energy Solutions Pte (REC SES) in Singapore, to set up a global capability centre for consolidating research and development (R&D) activities.

ICICI Bank: The private lender’s joint venture partner Prudential PLC is evaluating a potential listing of ICICI Prudential Asset Management Company, involving the partial divestment of its shares, subject to market conditions, requisite approvals, and other considerations. ICICI Bank intends to retain its majority shareholding in ICICI Prudential Asset Management Company.

Kotak Mahindra Bank: The Reserve Bank of India lifted restrictions on the private lender, allowing the lender to onboard new customers through its online and mobile banking channels, and issue fresh credit cards. The RBI had placed restrictions on Kotak Mahindra Bank on April 24, 2024.

Adani Ports and Special Economic Zone: The Adani Group firm’s subsidiary, Adani Harbour Services, has incorporated a joint venture company, Al Annabi Marine Services, in Qatar. with Sea Horizon Offshore Marine Services and Jamal A Rab A M Al Yafei.

ONGC, NTPC Green Energy: ONGC NTPC Green (ONGPL), a 50:50 joint venture between ONGC Green and NTPC Green Energy, has signed a share purchase agreement with the National Investment and Infrastructure Fund (NIIF), BII South Asia Renewables, British International Investment Plc (BII), and Eversource Capital to acquire a 100 per cent equity stake in Ayana Renewable Power for Rs 19,500 crore.

Tata Power: The Tata Group company’s subsidiary, Tata Power Renewable Energy, has signed a non-binding memorandum of understanding (MoU) with Oil and Natural Gas Corporation (ONGC) to explore joint opportunities in the battery energy storage system (BESS) and its value chain.

Bharat Forge: The auto components major reported an 8.4 per cent YoY dip in net profit at Rs 346 crore for the quarter ended on December 31, 2024. Its revenue from operations fell 7.4 per cent YoY to Rs 2,095.9 crore. Ebitda dropped 8 per cent YoY to Rs 609.7 crore in the quarter, with margins dropping marginally to 29.1 per cent.

Honasa Consumer: The Mamaearth operator reported its December 2024 quarter consolidated net profit at Rs 26 crore, reporting a marginal growth on a yearly basis. The revenue from operations in Q3FY25 stood at Rs 518 crore, up 6 per cent YoY.

RITES: The transport infrastructure consultancy player has signed a memorandum of understanding (MoU) with the Centre for Development of Advanced Computing (C-DAC) to collaborate on IT solutions for consultancy assignments.

Muthoot Finance: The gold financier reported a net profit of Rs 1,389 crore for the quarter which ended on December 31, 2024, rising 26 per cent YoY. The company’s revenue from operations jumped 36 per cent YoY to Rs 5,190 crore during the reported quarter, while its loan assets under management (AUM) at Rs 1.11 lakh crore, as on December 31, 2024.

RailTel Corporation of India: The railway company has received work orders worth Rs 123.13 crore from the state project director (SPD) Bihar Education Project Council (BEPC), and an additional Rs 14.71 crore work order from Airports Authority of India Chennai.

TBO Tek: The business-focused travel distribution platform has announced a mild 1.6 per cent YoY fall in the net profit at Rs 49.9 crore, while the revenue for the quarter increased 29.1 per cent YoY to Rs 422 crore in the December 2024 quarter. Its adjusted ebitda rose 26 per cent YoY to Rs 75 crore.

Ventive Hospitality: The recently listed hospitality firm reported a 48.5 per cent YoY drop in its net profit at Rs 22.26 crore for the Q3FY25, while the revenue rose 15 per cent YoY to Rs 566.4 crore. Ebitda for the quarter stood at Rs 277.6 crore, with margins expanding to 600 bps to 49 per cent for the quarter.

Vakrangee: The RBI has extended the validity of authorization issued to Vakrangee to set up, own, and operate White Label ATMs in India, until March 31, 2026. Vakrangee currently has 6,035 White Label ATMs as of January 2025.