Stock to Watch Today - Rupeedesk Reports - 20.01.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Reliance Industries, Hindustan Unilever, Hindustan Zinc, and others in news today.
Results on January 20: Reliance Industries, HDFC Life Insurance Company, JSW Steel, LTIMindtree, Union Bank of India, Bandhan Bank, RBL Bank, Aether Industries, Atul, Coforge, DCM Shriram, Heritage Foods, Indian Energy Exchange, JSW Energy, NELCO, Petronet LNG, Ramkrishna Forgings, Shakti Pumps, and Tanla Platforms will be in focus ahead of quarterly earnings on January 20. Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Results on January 21: ICICI Bank, Kotak Mahindra Bank, SBI Life Insurance Company, UltraTech Cement, Yes Bank, IDFC First Bank, Dodla Dairy, Meghmani Organics, and Punjab & Sind Bank will be in focus ahead of quarterly earnings on January 21.
Hindustan Unilever: The FMCG major has clocked a 11.7% year-on-year growth in standalone profit at Rs 2,505 crore for quarter ended December FY23, backed by revenue from operations that grew by 16.3% to Rs 15,228 crore for the quarter with domestic volume growth at 5 percent, and higher other income. Profitability was impacted by exceptional loss of Rs 102 crore for the quarter against Rs 66 crore in year-ago period. At the operating level, EBITDA increased 7.9% to Rs 3,537 crore but margin fell 180 bps YoY to 23.2 percent in Q3FY23 impacted by higher raw material cost. Royalty fees paid by the company to Unilever Plc has been increased to 3.45% from 2.65% of turnover.
Bata India: Anil Somani has been appointed as the new Chief Financial Officer of the company. He has over 25 years of experience in finance, strategy, compliance, information management and business development functions.
PVR: The multiplex chain operator has reported consolidated profit at Rs 16.1 crore for quarter ended December FY23, against loss of Rs 10.2 crore in same period last year. Consolidated revenue for the quarter at Rs 941 crore increased by 53%, with movie exhibition business growing 37% and others (including movie production & distribution) 23.5% YoY. EBITDA in Q3FY23 grew by 75% to Rs 288.8 crore and margin expanded by nearly 4 percentage points to 30.7 percent for the quarter YoY.
Sun Pharmaceutical Industries: The pharma company is going to acquire Concert Pharmaceuticals for $576 million or $8 per share. Concert stockholders will also receive a non-tradeable contingent value right (CVR) entitling holders to receive up to an additional $3.50 per share on deuruxolitinib achieving certain net sales milestones within specified periods. Concert is a late-stage biotechnology company, developing deuruxolitinib, an oral inhibitor of Janus kinases JAK1 and JAK2 for the treatment of alopecia areata, an autoimmune dermatological disease.
Can Fin Homes: The company has reported a 31% year-on-year growth in profit at Rs 151.5 crore for quarter ended December FY23, supported by lower provisions. Net interest income for the quarter at Rs 251.71 crore grew by 22.23% YoY. Asset quality improved with gross non-performing assets (NPA) improving by 2 bps QoQ to 0.60% and net NPA falling 5 bps to 0.30% in Q3FY23.
Hindustan Zinc: The company has reported a 20.2% year-on-year decline in consolidated profit at Rs 2,156 crore for quarter ended December FY23, impacted by lower revenue, operating income and higher power & fuel cost. Revenue fell 1.6% YoY to Rs 7,866 crore for the quarter. EBITDA fell 15.2% to Rs 3,707 crore and margin dropped 760 bps to 47.1% compared to year-ago period. The company will pay an interim dividend of Rs 13 per share for FY23 and will buy international zinc assets from Vedanta by subscribing to the shares of THL Zinc for $2,981 million.
L&T Technology Services: The engineering services company has reported a 7.5% sequential growth in profit at Rs 303.6 crore for December FY23 quarter, with revenue rising 2.7% to Rs 2,048.6 crore and revenue in dollar terms increasing 0.4% to $248 million for the quarter. At the operating level, EBIT climbed 6.3% sequentially to Rs 382.9 crore and margin expanded 60 bps to 18.7% for the quarter. Also the company received a multi-year contract from Airbus for providing advanced engineering capabilities and digital manufacturing services.
Tata Consultancy Services: Canadian business jet manufacturer, Bombardier selected TCS as its strategic IT partner, to accelerate its digital transformation & drive innovation.
Bharat Heavy Electricals: BHEL has bagged Rs 300 crore worth order for renovation & modernisation (R&M) of steam turbines at Ukai thermal power station in Gujarat.
AU Small Finance Bank: The small finance bank has recorded a 30% year-on-year growth in profit at Rs 392.8 crore for quarter ended December FY23, led by net interest income and lower provisions. Net interest income grew by 41% to Rs 1,153 crore for the quarter with 10 bps YoY fall in net interest margin at 6.2%. Asset quality improved with the gross non-performing assets (NPA) as a percentage of gross advances falling 9 bps QoQ to 1.81% and net NPA declining 5 bps QoQ to 0.51% for the quarter.
IIFL Wealth Management: 360 ONE WAM, erstwhile IIFL Wealth Management, has clocked a 16% year-on-year growth in profit at Rs 180 crore for quarter ended December FY23 on better operating and top line performance. Revenue for the quarter grew by 10% YoY to Rs 415 crore. The company announced an interim dividend for FY23 at Rs 17 per share, sub-division of each existing equity share of face value of Rs 2 into two shares of face value of Re 1 each, and issue of one bonus equity share for every one share held.
KPI Green Energy: The company has announced commissioning of 25 MWDC solar power project for Greenlab Diamonds LLP, Surat under its CPP business vertical. Company also appointed Salim Yahoo as Chief Financial Officer and announced the allotment of bonus equity share in the ratio of one bonus equity share against one existing equity share to the members.
IndiaMART InterMESH: The company clocked a massive 61% year-on-year growth in profit at Rs 113 crore for quarter ended December FY23, backed by other income that jumped 367% to Rs 102 crore for the quarter. Revenue from operations grew by 34% YoY to Rs 251 crore driven by 24% increase in number of paying subscription suppliers and addition of Rs 10 crore revenue from accounting software services. However, EBITDA declined 11% to Rs 70 crore and margin contracted 14 percentage points to 28% for the quarter compared to year-ago period.
Jubilant FoodWorks: The master franchise Domino's Pizza operator plans to add 3,000 Domino’s stores in next 12-18 months, and 40-50 stores for Popeyes India in next 12-18 months. Under capex plan, Rs 900 crore will be funded entirely through internal accruals over a period for 12-18 months.
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