Stock to Watch Today - Rupeedesk Reports - 15.11.2022
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks | NMDC, Apollo Tyres, Mindtree, and others in news today.
NMDC: The state-run iron ore producer registered a 62% year-on-year decline in profit at Rs 885.7 crore for quarter ended September FY23, impacted by lower top line as well as operating income. Numbers were below analysts' expectations. Revenue from operations for the quarter at Rs 3,328 crore declined 51% and EBITDA fell 73% to Rs 851.2 crore compared to year-ago period.
Apollo Tyres: The tyre maker reported better than expected earnings growth. It recorded 12% year-on-year growth in consolidated profit at Rs 194.5 crore for the quarter ended September FY23, supported by top line. Revenue from operations grew by 17% YoY to Rs 5,956 crore and EBITDA rose 11.6% to Rs 712 crore, though margin contracted 60 bps due to higher input cost.
Hinduja Global Solutions: The company reported massive 599% sequential growth in consolidated profit at Rs 239 crore for quarter ended September FY23, aided by higher other income and tax write-back. Revenue from operations grew by 1.6% QoQ to Rs 1,167.5 crore in Q2FY23.
Nagarjuna Fertilizers and Chemicals: The company posted consolidated loss of Rs 182.7 crore for quarter ended September FY23, widening from Rs 142.36 crore in same period last year, impacted by higher input cost, power & fuel expenses and finance cost. Revenue from operations for the quarter at Rs 2,070 crore increased by 198% compared to year-ago period.
Balkrishna Industries: The tyre maker recorded 2.2% year-on-year decline in consolidated profit at Rs 382.3 crore for quarter ended September FY23 dented by higher input cost, and freight & forwarding expenses, but supported by higher other income and top line. Revenue for the quarter rose 28.2% to Rs 2,657.5 crore, but EBITDA declined 20.7% to Rs 426.2 crore compared to corresponding period last fiscal.
NBCC India: The public sector undertaking reported a massive 34% year-on-year increase in consolidated profit at Rs 95.5 crore for quarter ended September FY23 led by healthy operating performance. Revenue from operations for the quarter grew by 8% to Rs 2,029.7 crore and EBITDA surged 74% to Rs 88.4 crore compared to same period last year. The company secured total business of Rs 332 crore in October.
Mindtree: The IT services company said L&T Infotech and itself started operating as a merged entity from November 14, 2022. The merger has received approval of National Company Law Tribunal. L&T Infotech said Debashis Chatterjee is appointed MD & CEO of L&T Infotech and Vinit Teredesai replaced Anil Rander as CFO.
Fusion Micro Finance: The stock to make its grand debut on November 15. The issue price has been fixed at Rs 368 per share.
Dilip Buildcon: The road developer has reported profit at Rs 13 crore for quarter ended September FY23 against loss of Rs 444.6 crore in same period last year as the base in Q2FY22 was low. Strong operating performance also boosted profitability. Revenue from operations grew by 17% YoY to Rs 2,596 crore and EBIDTA surged nearly 7-fold to Rs 352 crore YoY.
Greaves Cotton: The engineering company recorded consolidated profit at Rs 28.9 crore for quarter ended September FY23 against loss of Rs 23.3 crore in same period last year, supported by healthy top line and operating profit. Revenue for the quarter grew by 87% to Rs 698.8 crore compared to year-ago period with electric mobility business recording highest ever quarterly revenues at Rs 318 crore. EBITDA for the quarter stood at Rs 42.86 crore against EBITDA loss of Rs 10.2 crore in corresponding period last fiscal.
CESC: The power utility company reported a 9% year-on-year decline in consolidated profit at Rs 305 crore for quarter ended September FY23, impacted by weak operating performance. Revenue grew by 12% YoY to Rs 3,913 crore, but EBIDTA fell 46.4% to Rs 490 crore and margin dropped more than 13 percentage points on higher input cost.
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