Stock to Watch Today - Rupeedesk Reports - 08.08.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Adani Ports, PB Fintech, Torrent Pharma, RailTel Corp, others in news.
Results on August 8: Coal India, Hindalco Industries, Adani Ports, Oil India, Siemens, 63 Moons Technologies, Aarti Industries, EIH, Happiest Minds Technologies, Hikal, Ideaforge Technology, IRCON International, Phoenix Mills, Prestige Estates Projects, Radiant Cash Management Services, Sudarshan Chemical Industries, Talbros Engineering, Tilaknagar Industries, Utkarsh Small Finance Bank, and Windlas Biotech will be in focus ahead of declaring their quarterly earnings today.
Godrej Consumer Products: The FMCG company has recorded a consolidated profit of Rs 318.8 crore for the quarter ended June FY24, falling 7.6% compared to year-ago period as there was an exceptional loss of Rs 81.78 crore related to acquisition of Raymond Consumer Care Business and other restructuring costs. Revenue from operations grew by 10.4% to Rs 3,449 crore compared to year-ago period, with underlying volume growth of 10%, while EBITDA jumped 23.4% YoY to Rs 643 crore with margin expansion of 190 bps during the same period. The company has received board approval for a capital expenditure of Rs 900 crore for new manufacturing units at Tamil Nadu and Madya Pradesh.
Torrent Pharmaceuticals: The pharma company has reported a consolidated profit of Rs 378 crore for June FY24 quarter, rising 6.8% over the year-ago period, driven by topline and operating numbers. Revenue from operations grew by 10.4% YoY to Rs 2,591 crore during the quarter, with India business rising 15% YoY to Rs 1,426 crore, but US business dropped 2% to Rs 293 crore during the same period. On the operating front, EBITDA in Q1FY24 grew by 11.1% to Rs 791 crore and margin expanded by 20 bps to 30.5% compared to year-ago period. Torrent Pharma has commenced commercial operations of its new oral oncology facility at Bileshwarpura, Gujarat.
Tata Chemicals: The Tata Group company has registered a consolidated profit of Rs 523 crore for the quarter ended June FY24, falling 11.8% over the corresponding period last fiscal, dented by lower operating margin. Revenue from operations grew by 5.6% year-on-year to Rs 4,218 crore, while EBITDA increased by 2.8% to Rs 1,043 crore, but margin fell 70 bps in Q1FY24.
Gland Pharma: The generic injectable focused pharmaceutical company has reported a profit of Rs 194.1 crore for the first quarter of FY24, falling 15% over last year on significant fall in operating margins. Its revenue grew 41% to Rs 1,208.7 crore during the same period. led by Europe and Rest of the World businesses, while EBITDA grew by 10% to Rs 298.2 crore but margin fell 600 bps to 25%. The sequential numbers were strong with profit up 147%, revenue 54%, EBITDA 77% and margin expansion of 400 bps in Q1FY24. The company has appointed Prakash Vithal Baliga as Chief Operating Officer.
RailTel Corporation of India: The state-owned railway company has received the work order from Pimpri Chinchwad Smart City (PCSCL) for providing end to end services for monetisation of PCSCL city network infrastructure on revenue sharing model. The estimated annual revenue from the contract is Rs 70 crore and total revenue for 10 years is Rs 700 crore.
ITD Cementation: The engineering and construction company has announced a consolidated profit of Rs 52.3 crore for quarter ended June FY23, rising sharply by 73.4% over corresponding period last fiscal, driven by healthy topline and operating numbers. Revenue grew by 67% to Rs 1,832.6 crore compared to year-ago period.
Vikas Ecotech: The company has collaborated with ARM Estate Projects to venture into green-enviro-friendly infrastructure development projects. Company will be inducing 75% of the total project cost as the collaborator, while the estimated project cost of targeted projects is about Rs 50 crore, including the cost of lands as well as the costs to be incurred for the construction and development of commercial buildings at two locations in Gurugram, Haryana.
PB Fintech: The Policybazaar operator has reported loss of Rs 12 crore for quarter ended June FY24, narrowing from loss of Rs 204 crore in same period last year on strong topline and operating performance. Revenue from operations at Rs 666 crore for the quarter increased by 32% over a year-ago period. Adjusted EBITDA stood at Rs 23 crore for the quarter against loss of Rs 66 crore and margin came in at 3% against (-13%) during the same period.
MMTC: The Sebi has cancelled the registration of MMTC as a stock broker for its involvement in illegal “paired contract”. The case was pertained to defunct National Spot Exchange Limited.
Yatharth Hospital & Trauma Care Services: Plutus Wealth Management LLP has bought additional 10 lakh equity shares, which is equivalent to 1.16% of paid-up equity, via open market transactions, at an average price of Rs 331.19 per share. Plutus already held 2.33% stake in the company.
Gati: Ace investor Porinju Veliyath-owned Equity Intelligence India has bought 8.27 lakh equity shares or 0.6% stake in the logistics company at an average price of Rs 151.54 per share.
Zydus Wellness: Promoter entity Zydus Family Trust has bought 6.43 lakh equity shares or 1.01% shareholding in the company at an average price of Rs 1,460 per share.
Adani Green Energy: Qatar-based sovereign wealth fund INQ Holding LLC, a subsidiary of Qatar Investment Authority, has bought 4.26 crore equity shares in the Adani Group company at an average price of Rs 920 per share, which amounted to Rs 3,919.6 crore. However, promoter Infinite Trade and Investment sold 4.48 crore equity shares or 2.8% stake in the company at an average price of Rs 920.43 per share, which amounted to Rs 4,131.1 crore.
One 97 Communications: Price Waterhouse Chartered Accountants LLP has resigned as statutory auditors of material subsidiary Paytm Payments Services with effect from August 7. PwC India has not raised any concern or issue. S R Batliboi & Associates LLP is appointed as statutory auditors of the subsidiary.
BEML: The company has secured the letter of acceptance from Bangalore Metro Rail Corporation (BMRC) for supply of rolling stock contract 5RS-DM valued at Rs 3,177 crore.
Inox Wind: A block deal worth Rs 500 crore is likely to be executed by the promoter entity of Inox Wind to reduce its stake in the wind energy company, CNBC TV-18 reported, citing sources who are privy to the development. The offer price for the deal will be at a maximum discount of 5 percent against the current market price.
GIC Housing Finance: The housing finance company has recorded standalone profit at Rs 31.8 crore for the quarter ended June FY24, falling 18.8% compared to year-ago period. Net interest income declined 17.5% year-on-year to Rs 85.4 crore, and revenue from operations slipped 2% to Rs 268.4 crore for the quarter. The company has received board approval for raising of funds up to Rs 2,500 crore via issue of redeemable non-convertible debentures on private placement basis.
Krishna Institute of Medical Sciences: KIMS Hospitals has reported consolidated profit at Rs 80.8 crore for June FY24 quarter, rising 15.5% over corresponding period last fiscal, driven by healthy topline. Revenue from operations grew by 22.3% YoY to Rs 606 crore in Q1FY24, but EBITDA margin fell by 160 bps YoY.
Sobha: The South-based real estate developer has registered profit at Rs 12.05 crore for the quarter ended June FY24, growing 165% over year-ago period despite decline in operating performance, driven by other income and topline growth. Consolidated revenue from operations grew by 60.8% to Rs 907.9 crore during the same period.
Olectra Greentech: The electric bus manufacturer has clocked a 8.7% year-on-year growth in consolidated profit at Rs 18.08 crore driven by strong operating performance, but revenue from operations fell sharply by 23.1% YoY to Rs 216 crore for the quarter ended June FY24.
Shivalik Bimetal Controls: Europe-based financial services group Societe Generale has bought 14.4 lakh equity shares in the company via open market transactions at an average price of Rs 540 per share. BoFA Securities Europe SA also purchased 5.1 lakh shares at an average price of Rs 540 per share. However, promoters offloaded 9.3% stake in the company, with TSL Holdings selling 50 lakh shares at an average price of Rs 541.19 per share, and Gurbir Sandhu selling entire personal holding of 3.67 lakh shares at an average price of Rs 565.01 per share.
Max Healthcare Institute: The private sector healthcare services company has recorded consolidated profit at Rs 240 crore for the quarter ended June FY24, rising 39% YoY, driven by healthy topline and operating numbers. Revenue from operations rose by 20.4% to Rs 1,285 crore compared to year-ago period.
Free Demo Intraday Tips : Whatsapp : 9841986753
Free Demo Commodity Tips : Whatsapp : 9841986753
RUPEEDESK PREMIUM RESEARCH
SEBI REGISTERED RESEARCH ANALYST - INH2000007292
We(rupeedesk.in) are SEBI Registered leading Indian Stock Market Trading Tips Providers for Equity,Commodity and currency market traded in NSE, BSE, MCX, , NCDEX And MCXSX.USDINR,EURINR,GBPINR,JPYINR,Dollar,Euro,Pound,Yen currencies.Indian Currency futures and Options Trading Tips. . Free Currency Tips|Stock and Nifty Options Tips| Commodity Tips |Intraday Tips Register Here : 91-9094047040 |91-9841986753
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
