Stock to Watch Today - Rupeedesk Reports - 23.05.2022
Stocks to Watch Today | Zomato, BHEL, Jet Airways and others in news today
Results May 23: Zomato, TRF, SAIL, Bharat Electronics, Nelcast, Pricol, The Ramco Cement, TTK Healthcare, Patel Engineering, Igarashi Motors, Graphite India, Divi's Lab.
Zomato: Shares of Zomato will be in focus ahead of its March quarter earnings due on Monday. The firm also said that it will take investors' calls after its earnings, for the first time since listing. The stock has fallen over 60 percent from its all-time high amid correction in stock markets. The scrip currently trading below its issue price of Rs 76 a share.
Power Grid Corp: Power Grid Corporation of India Ltd on Saturday posted about 18 per cent rise in its consolidated net profit at Rs 4,156.44 crore for the March 2022 quarter against Rs Rs 3,526.23 crore a year ago, backed by higher income. Total income during the quarter increased to Rs 11,067.94 crore compared to Rs 10,816.33 crore last year.
HDFC, HDFC Bank: Updates from the two most valuable HDFC group companies, HDFC Ltd and HDFC Bank, about the status of foreign shareholding show there is plenty of room for investors to buy in. Foreign investors held 68.56 percent in Housing Finance Development Corporation Ltd and 66.55 percent in HDFC Bank as on May 13. Both firms have been receiving queries from investors seeking information on their aggregate foreign shareholding.
JK Cement: JK Cement Ltd net profit rose 36 percent year on year to Rs 86.26 crore. Revenue rose 11 percent from a year ago to Rs 2270 crore. Total cost was at Rs 2030 crore, up 17 percent from a year ago. According to a Bloomberg poll, the firm expected a profit of Rs 196 crore while revenue was expected at Rs 2230 crore.
BHEL: BHEL Ltd reported a profit of Rs 909 crore in the March quarter against a loss of Rs 1033 crore a year ago. The firm reported a revenue of Rs 7600 crore, up 13 percent from last year. Total expense fell 18 percent to Rs 7091 crore. According to Bloomberg estimates, the firm expected to report a profit of Rs 337 crore while revenue was expected at Rs 8740 crore.
Amara Raja Batteries: Amara Raja Batteries Ltd reported a decline of 47.80 per cent in consolidated net profit at Rs 98.85 crore in the fourth quarter ended March 2022. Revenue from the operations was up 3.72 per cent at Rs 2,180.96 crore during the quarter as compared to Rs 2,102.61 crore in the year-ago period. Total expenses were at Rs 2,064.13 crore, up 10 percent from a year ago.
Indiabulls Housing Finance: Indiabulls Housing Finance reported an 11 per cent increase in net profit for the fourth quarter of 2021-22 at Rs306.75 crore from Rs276.23 crore in the same period in the previous fiscal. Revenue from operations declined by 7.7 per cent to Rs2,189.31 crore against Rs2,371.71 crore in the same period in the previous fiscal. Loan book fell by 7.4 percent to Rs59,333 crore in the fourth quarter of last fiscal from Rs64,062 crore a year ago. Gross NPAs were at 3.21 per cent as on March 31, 2022 versus 2.66 per cent as on March 31, 2021. Net NPAs were at 1.89 per cent as on March 31, 2022 compared to 1.59 per cent a year ago.
Sobha Developers: Sobha reported 40 percent growth in its net profit for the March quarter to Rs 25 crore against Rs 18 crore a year ago. Revenue grew 30 percent to Rs 766.80 from Rs 588.90 crore last year. The firm realised its highest ever quarterly sales value of Rs 1110 crore with a sales volume of 1.34 million sq ft. It also achieved the highest ever sales volume in FY22 at 4.91 million sq ft which is 22 percent higher than its sales volume in pre pandemic FY19 as well as FY21.
Jet Airways: Shares of Jet Airways India Ltd will be in focus after the firm said it got an air operator certificate from Directorate General of Civil Aviation, allowing it to restart commercial flight operations. Jet Airways now plans to recommence operations in July-September quarter. Aircraft and fleet plan, network and other details will be available in phases over the coming weeks.
Thermax: Thermax reported a 4 percent year-on-year drop in consolidated net profit to Rs 103 crore for the March quarter. The company’s consolidated revenues were up 26 percent YoY to Rs 1,992 crore. The company attributed lower profitability to increased commodity and freight costs during the quarter. Thermax reported a 127 percent jump in order booking for the quarter to Rs 3,396 crore.
NTPC: NTPC reported a 14 percent growth in consolidated net profit of Rs 5,167 crore in the fourth quarter of FY 2021-22 as against Rs 4,542 crore recorded a year ago. Consolidated revenue for the state-owned utility major rose 23 percent on-year to Rs 37,085 crore from Rs 30,103 crore in the year-ago quarter. NTPC added 3,152 mega watts (MW) of new capacity during the year thereby taking its total installed capacity 68,962 MW.
Shree Cement: Shree Cement reported a 16 percent decline in standalone net profit of Rs 645 crore in the fourth quarter of FY22, as against Rs 768 crore recorded a year ago. Revenue rose 3.6 percent on-year to Rs 4,099 crore as compared to a revenue of Rs 3,958 crore registered in the year-ago quarter. The year-on-year decline in profit was due to a surge in power and fuel costs, along with the high base of last year’s quarter. Meanwhile, the sequential growth was aided by higher volumes and better realizations during the quarter.
Paytm: One97 Communications, the parent firm of Paytm, reported a loss of Rs 762.5 crore for the March quarter against Rs 444.4 crore last year. Revenues were up by 89 percent year-on-year to Rs 1,541 crore. The firm has formed a joint venture general insurance company in which it has committed to invest Rs 950 crore over a period of 10 years. The proposal to set up joint venture firm Paytm General Insurance Limited (PGIL) was approved by the board on May 20.
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