Stocks to Watch Today | LIC, ONGC, Hero MotoCorp, and others in news today

 Life Insurance Corporation of India: The life insurance major registered an increase of 20.35 percent in total premium income at Rs 98,352 crore in the June FY23 quarter, as against Rs 81,721 crore a year back. The profit for the quarter was Rs 682.88 crore against Rs 2.94 crore in corresponding period last fiscal. The market share of LIC in individual first year premium income was 43.86 percent for June FY23 quarter and in the group first year premium income, the market share was 76.43 percent.

Oil and Natural Gas Corporation: ONGC reported a standalone profit of Rs 15,206 crore for the quarter ended June FY23, up 251 percent on-year, driven by strong operating performance and top line growth. Standalone revenue for the June FY23 quarter grew 84 percent on-year to Rs 42,321 crore. EBITDA came in at Rs 24,731 crore for the June FY23 quarter, rising 125 percent YoY, and margin jumped by 1,065 bps YoY to 58.43 percent during the quarter led by higher crude realisation following spike in oil prices and increase in domestic gas prices.

Hero MotoCorp: The two-wheeler maker recorded a 71 percent year-on-year increase in profit at Rs 625 crore for the quarter ended June FY23 on a low base. Revenue grew 53 percent YoY to Rs 8,393 crore and EBITDA surged 83 percent to Rs 941 crore, compared to the year-ago period. The company sold 13.90 lakh units of motorcycles and scooters in Q1FY23, a growth of 36 percent over the corresponding quarter in the previous fiscal. The year-ago quarter was affected by second Covid wave.

Zee Entertainment Enterprises: The company recorded a 49 percent year-on-year decline in profit at Rs 106.6 crore for the quarter ended June FY23 dented by dismal operating performance and tepid top line growth. Revenue grew by 4 percent to Rs 1,846 crore compared to year-ago period with 5.4 percent on-year increase in advertising revenue and 5 percent fall in subscription segment.

Dhani Services: The company posted a consolidated loss of Rs 103.91 crore for the quarter ended June FY23, which narrowing from loss Rs 192.4 crore in corresponding period last fiscal, supported largely by a sharp decline in impairment on financial assets, fall in employee expenses, and increase in other income, but impacted by lower revenue from operations that declined 19 percent YoY to Rs 246.4 crore during the quarter.

Apollo Tyres: The tyre maker clocked a 49 percent year-on-year growth in consolidated profit at Rs 190.7 crore for the quarter ended June FY23 on low base. Strong operating income and top line lifted bottomline. Revenue grew by 30 percent to Rs 5,942 crore compared to year-ago period.

Sun TV Network: The company reported a 35.3 percent year-on-year growth in consolidated profit at Rs 494 crore for the quarter ended June FY23 driven by operating income and top line growth. Revenue from operations grew by 49 percent to Rs 1,219 crore compared to year-ago period.