Top stocks to watch — ITC, Biocon, Tata Consumer, Cipla, Divi’s Labs, Voltas, IndiaMART, Equitas SFB, and others

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Top stocks to watch — ITC, Biocon, Tata Consumer, Cipla, Divi’s Labs, Voltas, IndiaMART, Equitas SFB, and others
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Indian stock-market indices are likely to open in green on Monday, on the back of positive cues from the Asian peers. At 7:50 am, the SGX Nifty was up 0.52%, indicating a strong start for Nifty50.

Other Asian markets were also trading in green such as — Hang Seng Index up over 1.1%, Nikkei 225 up 2% and Shanghai Composite Index was also up over 1%.

These are the stocks to watch out for during the trading session today:

Cipla

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The pharma giant Cipla reported a 38.95% jump in its consolidated net profit to ₹659.35 crore for the quarter ended September 30, led by the robust sales in all markets. The company said a sustained focus on cost optimisation during the quarter helped deliver an EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of over 23%.

The shares of Cipla ended 0.62% lower on Friday.

ITC

On Friday, Consumer staples-to-hospitality major ITC reported an 18.23% drop in its consolidated net profit to ₹3,413.44 crore. The drop came despite a 2.18% growth in its revenue from operations to ₹13,147.81 crore during the period under review. Its FMCG segment delivered a decent sales growth of 15.4% (YoY), but wasn’t enough to offset the volume decline of 12% in its cigarette segment.
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The shares of ITC ended 0.54% lower on Friday.

Divi’s Labs

Drug firm, Divi’ ’s Laboratories, reported a 45.63% rise in its consolidated net profit to ₹519.59 crore for the quarter ended September 30, mainly on account of robust sales. Consolidated total income stood at ₹1,762.94 crore compared to ₹1,492.60 crore for the same period a year ago.

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The shares of Divi’s Labs ended 0.40% higher on Friday.

Biocon

Kiran Mazumdar Shaw-led Biocon’s subsidiary, Biocon Biologics, had received a ₹1,125 crore investment from Goldman Sachs. This capital injection will enable Biocon Biologics to make prudent investments in R&D, high-quality manufacturing, as well as, establish a global commercial footprint, the company said.

The shares of Biocon ended 0.17% higher on Friday.
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Lakshmi Vilas Bank

Private sector Lakshmi Vilas Bank (LVB) reported a net loss of ₹397 crore in the second quarter ended September 30 due to a rise in bad loans and provisions. Sequentially, the loss widened against ₹112.28 crore in the June quarter of this fiscal. The bank also said that despite logistical challenges arising due to the COVID-19 situation, the bank has made significant progress with Clix group for the proposed amalgamation of Clix Capital Service and Clix Finance India into the bank.

The shares of Lakshmi Vilas Bank ended 0.64% higher on Friday.

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Voltas

Electronics major Voltas reported 25.74% decline in consolidated net profit to ₹79.66 crore for the quarter ended September 30. The company also decided to restructure its business; it would transfer 100% of the B2B businesses to its wholly-owned subsidiary — Rohini Industrial Electricals Ltd (RIEL).

The shares of Voltas ended 1% higher on Friday.

Vedanta

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Vedanta reported a 61.8% decline in consolidated net profit to ₹824 crore for the quarter ended September 30, on the back of one-time tax expense. The decline came despite the stellar 33% growth in its revenue to ₹20,804 crore during the quarter under review.

The shares of Vedanta ended 0.21% higher on Friday.

Tata Consumer Products

Tata Consumer Products reported an 18% rise in consolidated net profit to ₹234.33 crore for the quarter ended September 30, helped by an increase in domestic sales and volumes. Its revenue from operations was up 18.50% to ₹2,781.34 crore during the quarter under review.
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The shares of Tata Consumer Products ended 0.64% higher on Friday.

IndiaMART InterMESH, Equitas SFB and VIP Industries

IndiaMART InterMESH, Equitas SFB and VIP Industries are slated to report their second-quarter earnings today.

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