Stocks In Focus Today: Reliance Industries, ICICI Bank, JSW Steel, More

Reliance Industries:?The Mukesh Ambani-led oil-to-telecom conglomerate on Friday, after market hours, reported a consolidated net profit of?Rs 13,680 crore for the September quarter (Q2), up 43 per cent year-on-year, on improved performance across key businesses. Consolidated revenues from operations was at?Rs 1.67 trillion, up 51 per cent on year.

ICICI Bank: The private sector lender on Saturday reported its highest ever quarterly net profit of?Rs 5,511 crore for Q2FY22, an increase of 30 per cent year-on-year. Profits rose on the back of a 19 per cent growth in its domestic loan portfolio. Net non-performing assets fell below 1 per cent, the lowest since 2014. Advances rose 17 per cent year-on-year and 4 per cent sequentially to?Rs 7,64,937 crore as on 30 September.

NBFCs: The Reserve Bank of India on Friday announced a limit on non-bank lenders financing subscriptions to initial share sales to stem the flow of large amounts of borrowed capital by high net worth individuals to such offerings. There shall be a ceiling of?Rs 1 crore per borrower for financing subscription to initial public offer (IPO), the central bank said.

Bharat Petroleum Corp: The divestment-bound oil marketing company said its board has approved the merger of the unit that operates the Bina oil refinery in Madhya Pradesh with itself.

JSW Steel:?The company is planning to levy a surcharge on the sale of its steel products to its long-term OEM (original equipment manufacturer) customers. It will be the first company to introduce the concept of surcharge to the domestic steel market.

Tata Elxsi: The company's profit came in at Rs 125.33 crore in Q2FY22 as compared to Rs 78.87 crore in Q2FY21.

Apollo Tyres: The company has introduced its European tyre brand Vredestein in the country to cater to premium cars and superbike segments.

Asian Paints: A whistle-blower has flagged off related party transactions carried out by the promoters of the paint maker that allegedly benefited them at the cost of the company’s shareholders, a report said.