Stock to Watch Today - Rupeedesk Reports - 03.11.2022
Buzzing Stocks | HDFC, Hero MotoCorp, Rail Vikas Nigam and others in news today.
Results on November 3: HDFC to be in focus as it will declare its September FY23 quarter earnings today. Others to share their financials for the quarter on November 3 include Hero MotoCorp, Hindustan Petroleum Corporation, Vodafone Idea, Adani Enterprises, Ajanta Pharma, Amara Raja Batteries, Adani Total Gas, Adani Wilmar, Bank of India, Blue Star, Coromandel International, Devyani International, Indian Bank, JK Lakshmi Cement, Raymond, SRF, and Welspun Corp.
JK Cement: Subsidiary Jaykaycem (Central) has successfully commenced cement grinding capacity of 2 million tonne per annum its newly set up cement manufacturing facilities at Panna, Madhya Pradesh. The clinkerisation is at advanced stage and would to be commissioned shortly.
Nelcast: The company has reported a 262% year-on-year increase in consolidated profit at Rs 12.15 crore for the quarter ended September FY23, supported by topline as well as operating performance. Revenue at Rs 328.52 crore for the quarter increased by 37.4% compared to year-ago period.
Sadbhav Infrastructure Project: The company said Pradip Kumar Agarwal has tendered resignation as Chief Financial Officer of the company. He relieved on November 2 after close of office hours.
SIS: The company has reported a 1.4% year-on-year decline in consolidated profit at Rs 67.4 crore for the quarter ended September FY23, impacted by weak operating performance and margin compression. Revenue for the quarter increased by 14% YoY to Rs 2,768 crore, while EBITDA at Rs 109.8 crore fell by 10.8% for the quarter YoY.
Spandana Sphoorty Financial: The company said its Management Committee of the Board of Directors has approved the issuance of non-convertible debentures up to Rs 50 crore in two series on a private placement basis.
JK Paper: The paper manufacturer recorded its highest ever quarterly consolidated turnover of Rs 1,722.63 crore, a 72% growth compared to September FY22 quarter. EBITDA for the quarter at Rs 587.13 crore increased 130% and profit at Rs 324.23 crore rose 174% after providing Rs 33.64 crore as exceptional item for the quarter ended September FY23 compared to corresponding quarter of previous financial year.
Jindal Stainless: The company has reported a significant 63% YoY decline in consolidated profit at Rs 151.84 crore for the quarter ended September FY23, impacted by higher inventory, power & fuel cost, and other expenses. Revenue grew by 11.5% YoY to Rs 5,604 crore for the quarter.
Rail Vikas Nigam: Life Insurance Corporation of India has offloaded 2.02% equity stake in the company via open market transactions. With this, LIC's shareholding in the company reduced to 6.7%, down from 8.72% earlier.
KSB: The company recorded almost flat profit on consolidated basis at Rs 39 crore for the quarter ended September FY23 against Rs 38.9 crore in same period last year, impacted by margin compression amid higher input cost. Revenue for the quarter at Rs 431.3 crore increased by 17.2% compared to year-ago period and EBITDA margin declined 146 bps YoY to 12.54% for the quarter.
Dalmia Bharat: The company registered a 74% YoY decline in consolidated profit at Rs 56 crore for the quarter ended September FY23 impacted by higher power & fuel cost, and freight charges. Revenue for the quarter grew by 15.1% YoY to Rs 2,971 crore, while EBITDA fell 39% YoY to Rs 379 crore during the quarter. Volume increased by 13.7% to 5.8 million tonnes for the quarter compared to corresponding period last fiscal.
Relaxo Footwears: The company recorded a 67.4% YoY decline in profit at Rs 22.4 crore for the quarter ended September FY23 dented by lower top line and weak operating performance. Revenue for the quarter fell 6.3% to Rs 670 crore compared to year-ago period.
Veritas (India): Promoter Niti Nitinkumar Didwania sold 8.6 lakh shares (or 3.2% stake) in the company via open market transaction at an average price of Rs 117.25 per share. However, Swan Energy was the buyer in this transaction, which as of September 2022 already held 6.57% shareholding in Veritas.
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
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