Stock to Watch Today - Rupeedesk Reports - 24.05.2023
Buzzing Stocks: Hindalco, Ashok Leyland, Wockhardt, JSW Energy and others in news today
Results on May 24: Hindalco Industries, National Aluminium Company, FSN E-Commerce Ventures, Oil India, 63 Moons Technologies, Ashoka Buildcon, Bayer Cropscience, Brigade Enterprises, Cummins India, Fine Organic Industries, Gujarat Pipavav Port, Garden Reach Shipbuilders & Engineers, ICRA, India Cements, IRCON International, JB Chemicals & Pharmaceuticals, Nava, The Phoenix Mills, Hitachi Energy India, Trident, Titagarh Wagons, and Wonderla Holidays will be in focus ahead of declaring their quarterly earnings today.
Wipro: The IT service provider has expanded its partnership with Google Cloud to bring advanced generative artificial intelligence (AI) capabilities to clients across the globe. It will integrate generative AI into its entire suite of capabilities, accelerators, IP, and solutions.
Ashok Leyland: The commercial vehicle maker has recorded a 16.6% year-on-year decline in standalone profit at Rs 751.4 crore for the quarter ended March FY23 due to a high base, but topline and operating numbers remained healthy. It reported exceptional gain of Rs 56.43 crore in Q4FY23 against Rs 470.26 crore in Q4FY22. Revenue from operations for the quarter increased significantly by 33% to Rs 11,626 crore compared to same period last year. The board recommended dividend of Rs 2.6 per share for FY23.
Biocon: The biopharmaceuticals company has registered a 31.3% year-on-year increase in consolidated profit at Rs 313.2 crore in Q4FY23 driven by strong topline and operating numbers. Revenue for the quarter grew by 56.7% to Rs 3,774 crore compared to corresponding period last fiscal, with biosimilars business increasing 114% to Rs 2,102 crore.
Fortis Healthcare: The healthcare services provider has reported a 59% year-on-year growth in consolidated profit at Rs 138.3 crore for March FY23 quarter, driven by healthy topline, operating numbers and exceptional gain. Consolidated revenue for the quarter increased by 19.2% to Rs 1,642.7 crore compared to corresponding period last fiscal.
JSW Energy: The utilities company has reported a 68.5% year-on-year fall in consolidated profit at Rs 272 crore for March FY23 quarter, dented by higher finance & fuel costs, and lower other income. Revenue from operations grew by 9.4% to Rs 2,670 crore compared to year-ago period.
Mahindra CIE Automotive: Promoter Mahindra & Mahindra is likely to sell 1.2 crore shares or 3.2% equity in Mahindra CIE Automotive via block deal soon, reports CNBC-Awaaz quoting sources. The block deal in Mahindra CIE is likely at a discount of 5-6% to current market price.
Amara Raja Batteries: The industrial and automotive battery major has reported a 41% year-on-year increase in consolidated profit at Rs 139.4 crore for March FY23 quarter, aided by robust operating numbers after fall in input cost. Revenue from operations grew by 11.4% to Rs 2,429.4 crore compared to year-ago period. The company announced a final dividend of Rs 3.20 per share.
NMDC: India's largest iron ore producer has recorded consolidated profit at Rs 2,277 crore for quarter ended March FY23, rising 22.3% over a year-ago period despite weak topline and operating numbers, supported by exceptional gain. Revenue from operations for the quarter at Rs 5,851.4 crore fell by 13.8% compared to year-ago period. The company announced final dividend of Rs 2.85 per share.
Metro Brands: The footwear retailer has registered a 0.4% year-on-year decline in consolidated profit at Rs 68.5 crore for January-March FY23 quarter impacted by lower operating margin performance. Revenue from operations for Q4FY23 rose by 35% to Rs 544.1 crore compared to corresponding period last year.
Wockhardt: The pharma company has received a settlement order from the Securities and Exchange Board of India in the matter of a show-cause notice issued on September 15, 2022 for non-disclosure of interim outcome of USFDA inspection in 2013. With the settlement order, the charges contained in the said show cause notice against the company and its directors - Habil Khorakiwala, Murtaza Khorakiwala and Huzaifa Khorakiwala - have been disposed of without admission or denial of findings of fact and conclusions of law contained in the show cause notice.
Shriram Properties: The south-based real estate developer through its wholly owned subsidiary, Shrivision Elevations has acquired 100% development rights in an ongoing project at Chennai. The remaining two phases having a saleable area of 1.9 million square feet area is yet to be launched. The project has revenue potential of around Rs 1,200 crore in the next five years.
Varun Beverages: The company has incorporated a wholly-owned subsidiary company - Varun Beverages South Africa (Pty) Ltd in Johannesburg, South Africa, to explore the business of manufacturing and distribution of beverages.
SpiceJet: Nuvama Wealth Finance sold 68.4 lakh shares in the budget airline company via open market transactions at an average price of Rs 24.88 per share.
Century Textiles and Industries: The stock will be in focus as the board has approved raising of funds up to Rs 400 crore in one or more tranches by issue of non-convertible debentures of the company on private placement basis. The fund raising is within the borrowing limits approved by the shareholders.
Tata Chemicals: The company said the board of directors has reappointed R Mukundan as Managing Director and CEO for five years with effect from November 26, 2023. The reappointment is subject to approval of the members at the forthcoming Annual General Meeting of the company.
Dish TV India: Anil Kumar Dua has resigned as Chief Executive Officer of the company, with effective from August 22 this year. Hence, the board proposed an appointment of Manoj Dobhal as the Chief Executive Officer-designate and further advised the management to seek approval from the Ministry of Information and Broadcasting (MIB) for appointment of Manoj Dobhal as new CEO. Manoj Dobhal is the current Chief Operating Officer (COO) of the company.
Syrma SGS Technology: Norges Bank on Account of the Government Pension Fund Global bought 38 lakh shares and Neuberger Berman Emerging Markets Equity Master Fund LP purchased 25 lakh shares in the electronic products manufacturer via open market transactions at an average price of Rs 351.9 per share. However, high networth individual Sanjiv Narayan sold 15 lakh shares and foreign company South Asia Growth Fund II Holdings, LLC offloaded 53.24 lakh shares at an average price of Rs 351.9 per share.
CMS Info Systems: The banking logistics and technology services provider has recorded a 25% year-on-year growth in profit at Rs 80 crore for quarter ended March FY23, supported by topline as well as operating numbers. Revenue for the quarter increased by 13% to Rs 501 crore compared to year-ago period.
Dixon Technologies: The electronic manufacturing services company has reported a 28% year-on-year increase in consolidated profit at Rs 80.6 crore for quarter ended March FY23 driven by strong operating numbers. Revenue grew by 4% to Rs 3,065.5 crore compared to corresponding period last fiscal. The board recommended a final dividend of Rs 3 per share.
Dishman Carbogen Amcis: The active ingredients manufacturer for pharma industry has posted consolidated loss of Rs 70.7 crore for quarter ended March FY23, widening from Rs 44.6 crore in same period last year despite healthy operating numbers, partly dented by exceptional loss. Revenue for the quarter grew by 8.7% to Rs 618.6 crore compared to same period last year.
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
