Stock to Watch Today - Rupeedesk Reports - 25.05.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: ZEE, Infosys, LIC of India, Nykaa, Oil India and others in focus.
Results on May 25: Zee Entertainment Enterprises, AIA Engineering, Aster DM Healthcare, Bharat Dynamics, Dredging Corporation of India, eClerx Services, Emami, General Insurance Corporation of India, GMM Pfaudler, Gujarat State Fertilizers & Chemicals, Vodafone Idea, Indian Energy Exchange, Infibeam Avenues, Indian Railway Finance Corporation, ITD Cementation, Kolte-Patil Developers, Max India, Mishra Dhatu Nigam, Page Industries, Radico Khaitan, Steel Authority of India, Shilpa Medicare, Strides Pharma Science, Triveni Engineering, and TTK Prestige will be in focus ahead of quarterly earnings on May 25.
Infosys: The leading IT services firm has announced its collaboration with Adobe to transform the digital workforce through Infosys’ online learning platform, Infosys Springboard, under its Tech for Good charter. Both organizations will aim to create over 10,000 new Adobe certified experts globally by 2025.
Wipro: The technology services and consulting firm has announced a partnership between its Engineering Edge business line and Spartan Radar, an automated mobility sensor software provider, to build advanced vehicle solutions. Wipro’s corporate investment subsidiary Wipro Ventures has invested in Spartan Radar’s Series B funding round.
Life Insurance Corporation of India: The LIC has recorded standalone profit at Rs 13,427.8 crore for quarter ended March FY23, growing 466% over corresponding period last fiscal. The sequential growth in profit was 112 percent. Standalone net premium income fell by 8.3% year-on-year to Rs 1.31 lakh crore for March FY23 quarter, but on sequential basis, the said premium income increased by 17.9%. The 13th month persistency ratio increased to 70.16% for the quarter ended March FY23, from 69.24% a year-ago period, but 25th month persistency ratio fell to 63.84% in Q4FY23, from 68.23% in corresponding period last fiscal.
Oil India: The state-owned oil company has recorded standalone profit at Rs 1,788.3 crore for March FY23 quarter, rising 2.4% over previous quarter supported by higher other income, but impacted by tepid topline growth and weak operating numbers. Revenue from operations (net of excise duty) grew by 0.4% sequentially to Rs 5,398 crore in Q4FY23. The board recommended a final dividend of Rs 5.50 per share.
FSN E-Commerce Ventures: The Nykaa operator has recorded consolidated profit at Rs 2.4 crore for quarter ended March FY23, falling 71.8% compared to same period last fiscal despite strong topline and operating numbers, impacted by high base in Q4FY22 due to tax write-back. Revenue from operations for the quarter grew by 33.7% to Rs 1,302 crore compared to same quarter previous fiscal.
Somany Ceramics: The tiles manufacturer said the board has approved appointment of Amit Sahai, as Chief Executive Officer-tile business with effect from May 23. The board also approved the issuance of redeemable non-convertible debentures/bonds/other similar instruments upto Rs 50 crore.
BL Kashyap and Sons: The civil engineering and construction company has secured new order worth Rs 132 crore from Indian School of Business. The total order book stood at Rs 2,650 crore till date.
Garden Reach Shipbuilders & Engineers: The company has entered into a contract with Indian Navy for supply of 10 in number 30 mm Naval Surface Gun (NSG) with electro optical fire control system (EOFCS) and ammunition at a cost of Rs 248.51 crore. Profit for March FY23 quarter increased by 17.1% year-on-year to Rs 55.3 crore despite weak operating numbers, led by higher other income and topline. Revenue rose by 10.7% to Rs 601.2 crore compared to year-ago period.
Trident: The textile company has registered a 28.4% year-on-year decline in profit at Rs 129.74 crore for quarter ended March FY23, impacted weak topline and operating numbers. Revenue from operations for the quarter at Rs 1,573.3 crore fell by 15.86% compared to same period last year. The company plans to raise funds up to Rs 500 crore via issue of non-convertible debentures.
Fine Organic Industries: The chemical manufacturing company has reported a 40.7% year-on-year increase in consolidated profit at Rs 149.4 crore for quarter ended March FY23, driven by healthy operating performance. Revenue from operations for the quarter fell by 21.4% to Rs 596.6 crore compared to year-ago period. The company announced a final dividend of Rs 9 per equity share for FY23.
Salzer Electronics: Investor Vikas Vijaykumar Khemani bought 86,000 shares or 0.53% stake in the electrical products manufacturer at an average price of Rs 284.97 per share. Carnelian Asset Management LLP, owned by Vikas Khemani, already held 1.08% or 1.75 lakh shares in the company as of March 2023.
Piramal Pharma: The pharma company's consolidated profit fell sharply by 75% year-on-year to Rs 50 crore for quarter ended March FY23, impacted by weak operating performance and tepid topline growth. Revenue from operations for the quarter grew by 2% to Rs 2,164 crore compared to year-ago period, with CDMO business falling 3% to Rs 1,285 crore but complex hospital generic segment showing 28% YoY growth at Rs 702 crore.
National Aluminium Company: The state-owned aluminium company has recorded a 52% year-on-year decline in consolidated profit at Rs 495 crore for March FY23 quarter as topline and operating numbers were weak. Consolidated revenue from operations fell by 15.6% to Rs 3,671 crore compared to same period last fiscal.
Wonderla Holidays: The amusement park chain has registered more than 4-fold increase year-on-year in profit at Rs 35.05 crore for March FY23 quarter on healthy topline and operating performance. Revenue for the quarter at Rs 98.6 crore grew by 69.6% over a year-ago period, driven by robust footfall numbers. The company announced final dividend of Rs 2.50 per share.
Gujarat Pipavav Port: The company has recorded a 30.8% year-on-year growth in consolidated profit at Rs 97.3 crore for quarter ended March FY23 despite weak operating margin performance, aided by lower tax cost, higher other income and associate profit. Revenue for Q4FY23 grew by 6.8% to Rs 234.7 crore compared to corresponding period last fiscal. The board reccomended a final dividend of Rs 3.40 per share.
ICRA: The credit rating agency has reported a 14.9% year-on-year growth in consolidated profit at Rs 38.4 crore for quarter ended March FY23, as revenue grew by 16.4% to Rs 109.08 crore compared to corresponding period last fiscal. Profitability was also supported by other income and lower tax cost.
JB Chemicals and Pharmaceuticals: The pharma company has posted 4 percent on-year growth in profit at Rs 88 crore for March FY23 quarter as operating performance and topline were strong. Revenue for the quarter at Rs 762 crore increased by 22% over corresponding quarter of previous fiscal, with domestic business growing 29% and international business rising 16%. The board recommended a final dividend of Rs 9.25 per share for FY23 and has approved sub-division of each equity share of face value of Rs 2 into 2 equity shares of face value of Re 1 each.
Borosil Renewables: The company has reported a massive 85.5% year-on-year decline consolidated profit at Rs 10.1 crore for March FY23 quarter as revenue from operations tanked 65.4% to Rs 309 crore compared to year-ago period. Disappointing operating performance also impacted bottomline. The company plans to raise up to Rs 1,100 crore via securities or bonds.
Bannari Amman Sugars: The sugar manufacturer has registered a 106% on-year growth in profit at Rs 49.92 crore for quarter ended March FY23 driven by healthy operating and topline performance. Revenue from operations grew by 42.1% YoY to Rs 656.4 crore in Q4FY23 with growth in sugar, as well power and distillery segments. The board announced a dividend of Rs 12.50 per share.
Aptech: The company has recorded a 30.55% year-on-year growth in consolidated profit at Rs 33.3 crore for January-March FY23 quarter as revenue from operations grew by 176% to Rs 178.5 crore compared to same period last year. The board declared an interim dividend of Rs 6 per equity share and approved issue of bonus shares in the ratio of 2:5.
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