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 Top 10 stocks to watch today

ITC: ITC Ltd has outperformed analyst expectations with a 21.4% surge in standalone net profit for the March quarter, on the back of stronger cigarette sales and softening commodity prices. The company, known for its Gold Flake cigarettes and Bingo chips, reported a net profit of ₹5,086.86 crore for the quarter ended 31 March, up from ₹4,190.96 crore a year ago. The figures topped the ₹4,868 crore predicted in a survey by Bloomberg analysts. 

InterGlobe Aviation: InterGlobe Aviation Ltd, which operates IndiGo reported a profit of ₹919.2 crore, a record for the March quarter, as air travel boomed. Total income during the quarter rose 78% from a year earlier to ₹14,600 crore, the low-fare airline said, citing robust demand and high other income, including interest income on savings, compensation from engine makers and viability-gap funding received from the government. 

Nexus Select Trust: Nexus Select Trust REIT Ltd will debut at the bourses today. The initial public offer (IPO) has been subscribed 5.45 times on day 3 as per cumulative data from the exchanges. the non-QIB portion (NII, HNIs, retail and corporate) or other investors portion was subscribed 6.22 times, and Qualified Institutional Investors or Institutional investors portion was subscribed 4.82 times on Day 3. 

Reliance Industries: Shein is set to re-enter India as soon as this month by partnering with one of the country’s largest retail businesses, Reliance Retail, according to people familiar with the matter, in a bid to tap India’s growing consumer market and diversify its China-centric supply chain. The Indian government has approved a partnership between the online fashion retailer and the retail unit of the conglomerate, the people said. 

Bata India: Footwear major Bata India Ltd on Thursday reported a 4.5% jump in standalone net profit for the three months ended 31 March 2023. The company reported a profit of ₹65.55 crore compared to ₹62.7 crore reported in the corresponding quarter last fiscal. The footwear retailer reported a 17% jump in quarterly revenue from operations to ₹778.5 crore. 

Nazara Technologies: Nazara Technologies' subsidiary NODWIN Gaming on Thursday announced that it has signed a definitive to raise $28 million crore from new and existing investors. The majority of these funds will be channelized towards growing the gaming and esports ecosystem of Nodwin by expanding and incubating newer IPs, growing its emerging market footprint and for strategic acquisitions that drive value to the network. 

United Spirits: United Spirits Ltd on Thursday reported a 7.3 per cent rise in standalone net profit to ₹204 crore for the quarter ended March 2023. This is against a net profit of ₹190 crore in the year-ago period. The revenue from operations declined by 25 per cent to ₹5,783 crore in the March quarter as against ₹7,732 crore in the last fiscal. The total income declined to ₹5,799 crore for the period under review as against ₹7,749 crore in the year-ago period.

REC: Rural Electrification Corporation (REC) is set to significantly expand its loan book under the renewable energy (RE) portfolio, aiming for ₹2.4 lakh crore by the financial year 2030. REC, a key player in energy sector project financing, has been actively contributing to India’s renewable energy goals and has taken various initiatives to accelerate the implementation of RE projects in the country. 

Gland Pharma: The generic injectable-focused pharmaceutical company, Gland Pharma Ltd’s reported net profits at ₹78.68 Crore during Q4, saw a sharp decline of 72% over ₹285.90 Crore reported in the year-ago quarter. The net profit was also impacted by a one-off expense worth ₹56.46 Crore towards an impairment loss. The company’s revenue from operations at ₹785 Crore was down 29% year-on-year during Q4.