Stock to Watch Today - Rupeedesk Reports - 27.07.2022
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Stocks to Watch Today | Maruti Suzuki, Larsen & Toubro, Tata Motors and others in news today.
Results on July 27: Maruti Suzuki to be in focus before the car maker announces its June quarter earnings today. Besides Maruti Suzuki, Tata Motors, Bajaj Finance, Biocon, Colgate-Palmolive, Aarti Drugs, CG Power and Industrial Solutions, Clean Science and Technology, Coromandel International, Dixon Technologies, EIH, Fino Payments Bank, Home First Finance Company India, JK Lakshmi Cement, Latent View Analytics, Laurus Labs, Novartis India, Poonawalla Fincorp, Schaeffler India, TeamLease Services, United Breweries, VIP Industries, and Welspun India will share their June quarter earnings on July 27.
Larsen & Toubro: The engineering and infrastructure major posted consolidated net profit of Rs 1,702 crore, a robust 45 percent growth over the year-ago period. It achieved consolidated revenues of Rs 35,853 crore in Q1FY23, recording an on-year growth of 22 percent with strong execution witnessed in the infrastructure segment and riding on the sustaining growth momentum in the IT and TS portfolio. The company secured orders worth Rs 41,805 crore at the group level during the quarter ended June 2022, registering a growth of 57 percent YoY.
Tata Power Company: The power generation and distribution company recorded a 90 percent year-on-year growth in consolidated PAT before exceptional items at Rs 884 crore for the quarter ended June 2022, against Rs 466 crore in Q1FY22, due to improved performance across all businesses mainly profit from coal companies. Consolidated revenue grew by 48 percent to Rs 14,776 crore during the same period.
Wipro: Nokia extends strategic partnership with Wipro to drive digital transformation and efficiencies in global business services. The IT services provider has announced a new five-year strategic engagement with Nokia, the world’s leading multinational, networking, telecommunications and consumer electronics company. The new agreement builds on a partnership originally established over 20 years ago.
Relaxo Footwears: The company reported a 25 percent year-on-year growth in profit at Rs 38.67 crore for the quarter ended June 2022 as revenue grew by 34.2 percent to Rs 667.15 crore during the quarter against Rs 497.13 crore in same period last year.
Zydus Lifesciences: The company has received final approval from the United States Food and Drug Administration (USFDA) to market Bisoprolol Fumarate tablets. Bisoprolol Fumarate tablets are used to treat high blood pressure. The drug will be manufactured at the group’s formulation manufacturing facility at, SEZ, Ahmedabad, India and will be distributed by Viona Pharmaceuticals Inc.
Aditya Birla Sun Life AMC: The asset management company reported a 33.6 percent year-on-year decline in consolidated profit at Rs 102.84 crore for the quarter ended June 2022, dented by loss at other income, and tepid topline growth. Revenue from operations grew by 0.44 percent to Rs 304.50 crore compared to year-ago period. Mutual fund QAAUM (quarterly average assets under management) witnessed growth of 2 percent YoY to Rs 2.81 lakh crore in Q1FY23.
Axis Bank: Axis Bank and Citi Bank deal has received approval from the Competition Commission of India. Axis Bank has decided to acquire Citibank's India consumer business from Citibank N.A. and the NBFC consumer business from Citicorp Finance (India).
Tata Investment Corporation: The company has clocked a 343.6 percent year-on-year growth in consolidated profit at Rs 89.74 crore for the quarter ended June 2022, driven by healthy topline and operating performance. Revenue grew by 96.3 percent YoY to Rs 101.97 crore during the same period.
PNB Gilts: The company posted loss at Rs 88.94 crore for the quarter ended June 2022, against profit of Rs 39.89 crore in same period last year as the net loss on securities (realised and unrealised) stood at Rs 200.65 crore against Rs 35.05 crore YoY. Revenue grew by 32 percent to Rs 283.41 crore during the same period.
United Spirits: The company reported a massive 419 percent year-on-year growth in consolidated profit at Rs 261.10 crore for the quarter ended June 2022, aided by strong operating performance and topline growth. Revenue increased by 15.6 percent YoY to Rs 7,131.3 crore in the same period.
KEI Industries: The company reported a 54 percent year-on-year growth in consolidated profit at Rs 103.76 crore for June 2022 quarter, driven by strong operating performance and topline. Revenue during the quarter stood at Rs 1,565.41 crore, a 54 percent growth compared to Rs 1,017.56 crore in same period last year.
Ethos: The company recorded a significant growth of 1,430 percent in consolidated profit at Rs 12.80 crore for the June 2022 quarter against Rs 0.84 crore in same period last year, led by healthy operating performance and topline. Revenue at Rs 173.56 crore grew by 95 percent over Rs 88.94 crore during the same period.
Shoppers Stop: The company reported consolidated profit at Rs 22.83 crore for the quarter ended June 2022 against loss of Rs 104.89 crore in year-ago period. The Q1FY22 earnings were impacted by second Covid wave. Revenue grew by 362 percent to Rs 948.44 crore compared to corresponding period last fiscal.
Sanofi India: The company recorded a 32.5 percent year-on-year decline in profit at Rs 120.40 crore for the quarter ended June 2022, impacted by lower revenue and weak operating performance. Revenue for the quarter fell by 11.4 percent to Rs 699.30 crore YoY.
JSW Energy: The National Company Law Tribunal (NCLT) has approved the resolution plan for Ind-Barath Energy (Utkal). The Committee of Creditors had approved the said plan in October 2019. Ind-Barath owns a 700 MW under-construction thermal power plant in Odisha.
Vikas Lifecare: Genesis Gas Solutions, the subsidiary of Vikas Lifecare, has received first ever contract for laying commercial pipeline for Indian Oil Corporation - Adani Gas Pvt Ltd (IOAGPL). IOAGPL is laying infrastructure for development of city gas distribution networks to supply the piped natural gas (PNG) to the industrial, commercial and domestic segments and Compressed Natural Gas (CNG) to the transport sector.
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