Stocks to Watch: SBI, Infosys, Ambuja Cement, and More! Big News for Titan, JK Tyre, Britannia, and JSW Steel

New Delhi: Here are some stocks that are likely to be in focus on Monday:

State Bank of India (SBI): The state-owned bank reported a slight 0.9% increase in net profit, which was affected by lower margins, higher provisions for loan losses, and a decrease in other income. The bank’s board has approved raising up to ₹25,000 crore through tier-1 and tier-2 bonds in the current financial year.

Infosys: The IT company received partial relief as the Directorate General of GST Intelligence (DGGI) withdrew a tax demand of ₹3,898 crore for the financial year ending March 2018.

Ambuja Cement: The Adani Group company plans to invest about ₹1,600 crore in Bihar to set up a cement grinding unit in Warisaliganj, Nawada district. This 6 million tonnes per year unit will be Ambuja Cement’s first project in Bihar.

JK Tyre: The company’s consolidated net profit increased by 37% year-on-year to ₹211 crore in the first quarter ending June. However, the company’s total income dropped to ₹3,655 crore from ₹3,726 crore in the same period last year.

NTPC: India’s largest power generator, in partnership with Nuclear Power Corp of India Ltd, plans to start building a nuclear power plant in Rajasthan by March, with a budget of about ₹50,400 crore.

Britannia Industries: The company reported a 10.85% increase in consolidated net profit to ₹504.88 crore for the June quarter, driven by higher volumes and improved operating margins. Revenue from operations rose by 6% to ₹4,250.29 crore.

Hindustan Zinc: The Vedanta Ltd company is seeking local partners to set up manufacturing plants for zinc-based batteries in India. Earlier, Hindustan Zinc announced a strategic partnership with US-based AEsir Technologies to develop zinc-based energy storage solutions, reducing reliance on other critical minerals.

JSW Steel: The company has decided to surrender a mining lease for a block in Odisha due to “uneconomic operation.” The Jajang iron ore block in Keonjhar is one of four iron ore mining leases acquired through auction in 2020.

Titan Company: The company’s standalone net profit slightly decreased by 1% to ₹770 crore in the June quarter, compared to the same period last year. Revenue from operations grew by nearly 9% to ₹11,263 crore.

Delhivery: The logistics company reported a net profit of ₹54.35 crore for the April to June quarter, compared to a net loss of ₹89.48 crore in the same quarter last year. Delhivery plans to launch a network of shared dark stores to help e-commerce companies and direct-to-consumer brands deliver products faster.