Stock to Watch Today - Rupeedesk Reports - 03.11.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Tata Motors, M&M Financials, Britannia Industries, Maruti Suzuki, L&T and others in news.
Tata Motors: The Tata Group company recorded a consolidated net profit of Rs 3,764 crore for the quarter ended September FY24, against a loss of Rs 945 crore in the corresponding period last fiscal, driven by healthy growth across segments. Revenue from operations grew by 32 percent YoY to Rs 1,05,128 crore in Q2 FY24, with Jaguar Land Rover topline rising 30.4 percent YoY to $6,857 million. JLR EBITDA margin increased by 430 bps to 14.9 percent, and EBIT margin grew by 630 bps to 7.3 percent, while JLR raised its FY24 EBIT margin guidance to 8 percent from 6 percent earlier. Meanwhile, subsidiaries Tata Passenger Electric Mobility (TPEM) and Jaguar Land Rover Plc (JLR) entered into a Memorandum of Understanding (MoU) for the licencing of JLR’s Electrified Modular Architecture (EMA) platform for a royalty fee for the development of TPEM’s premium pure electric vehicle series ‘Avinya’ on the EMA platform.
Mahindra & Mahindra Financial Service: For October, the company estimates the overall disbursement at around Rs 5,250 crore, at a similar level as the previous year. The YTD October 2023 disbursements were Rs 30,700 crore, a growth of 16 percent YoY. The collection efficiency was 94 percent in October, up from 91 percent in the same month last year. Stage-3 and Stage-2 assets continued to remain rangebound compared to September 2023.
Maruti Suzuki India: The country's largest car manufacturer reported total production at 1.76 lakh units in October this year, growing 13.05 percent over 1.56 lakh units in the same month last year, including production by Suzuki Motor Gujarat.
Larsen & Toubro: The infrastructure major has sold its 100 percent stake in L&T Infrastructure Engineering (LTIEL) to STUP Consultants, a subsidiary of Assystem SA of France, for Rs 60 crore. This transaction aligns with the company’s commitment to focus on its core businesses and assets. LTIEL revenues for FY23 were Rs 92 crore. The transaction is expected to be completed by January 15, 2024.
JK Lakshmi Cement: The cement company has reported a 55 percent on-year growth in consolidated profit at Rs 96 crore for the July–September period of FY24, driven by higher volume, a better product and sales mix, and a reduction in fuel costs. Revenue from operations increased by 14.6 percent on-year to Rs 1,574.5 crore during the quarter, with sales volume rising 13.8 percent YoY to 28.78 lakh metric tonnes.
Britannia Industries: The bakery products company has commenced production at its Bihta plant in Bihar.
Indian Energy Exchange: The energy exchange has recorded consolidated profit at Rs 86.5 crore for the July–September period of FY24, growing 21.4 percent over the corresponding period last fiscal, led by other income, topline, and EBITDA margin. Revenue from operations grew by 14 percent YoY to Rs 108.5 crore during the quarter.
Container Corporation of India: The state-owned company has registered a 21.3 percent on-year growth in consolidated profit at Rs 368.5 crore for the July–September period of FY24, supported largely by other income and topline, but a sharp increase in rail freight expenses limited profitability and impacted EBITDA margin. Consolidated revenue from operations grew by 10.5 percent YoY to Rs 2,195 crore for the quarter.
Sheela Foam: The polyurethane foam manufacturing company has reported consolidated profit of Rs 44.3 crore for the July–September period of FY24, declining 17.3 percent compared to the year-ago period. Revenue from operations declined 10.2 percent year over year to Rs 613.2 crore during the quarter.
Dilip Buildcon: The infrastructure company said the board of directors on November 7 will consider the appropriate fund-raising options, if any. The company will also announce the unaudited standalone and consolidated financial results for the quarter and half year ended September 2023 on the same day.
Religare Enterprises: The company recorded consolidated profit of Rs 40.4 crore for the quarter ended September FY24, against a loss of Rs 176.7 crore in the year-ago period. Despite the sharp fall in other income, Revenue from operations grew by 36 percent YoY to Rs 1,584.4 crore during the quarter.
Shilpa Medicare: The company has acquired Pilnova Pharma Inc. in the United States, which will now be a wholly owned subsidiary at a par value of $1 per share. The transaction will be completed by November 15. The acquisition will help the company establish a front-end presence in the US market with the objective of capturing the full potential of its niche portfolios.
IFB Industries: The company has registered a 10.7 percent on-year decline in consolidated profit at Rs 21.53 crore for the quarter ended September FY24, impacted by a lower topline. Consolidated revenue from operations slipped 1.6 percent to Rs 1,101 crore compared to the year-ago period.
Gujarat Gas: The gas distribution company has registered a massive 37.2 percent on-year growth in consolidated profit at Rs 296 crore for the quarter ended September FY24, despite muted topline performance, driven by a healthy EBITDA margin. Revenue from operations grew by 1.7 percent year-on-year to Rs 3,991.2 crore for the quarter.
Ratnamani Metals Tubes: The pipes & tubes manufacturing company has registered a massive 66.4 percent on-year growth in consolidated profit at Rs 164.3 crore for the quarter ended September FY24, backed by healthy operating performance. Revenue from operations grew by 25.7 percent YoY to Rs 1,131 crore during the quarter.
Shanthala FMCG Products: The FMCG product distribution company will list its equity shares on the NSE Emerge on November 3. The issue price is Rs. 91 per share. Its equity shares will be available for trading in the trade-to-trade segment.
Paragon Fine and Speciality Chemical: The specialty chemical intermediate manufacturing company will debut on the NSE Emerge on November 3. The final issue price has been fixed at Rs. 100 per share. Its equity shares will be available for trading in the trade-to-trade segment.
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