Stock to Watch Today - Rupeedesk Reports - 25.01.2024
Stock to Watch Today - Rupeedesk Report
Sunteck Realty: Foreign investor CLSA Global Markets Pte Ltd has bought 46,52,002 equity shares, which is equivalent to 3.17 percent of paid-up equity, in the company via open market transactions at an average price of Rs 445.5 per share. However, Briarwood Capital Master Fund sold 47,15,000 equity shares in the company at the same price.
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: TechM, Tata Motors, Bajaj Auto, Mazagon Dock, CEAT, Zee, others in news.
Results on January 25: JSW Steel, Punjab National Bank, ACC, Adani Power, SBI Cards and Payment Services, SBI Life Insurance Company, Tata Technologies, Vedanta, Hindustan Petroleum Corporation, AU Small Finance Bank, Cholamandalam Investment and Finance Company, Cyient, Equitas Small Finance Bank, Indian Energy Exchange, Indraprastha Gas, SBFC Finance, Shriram Finance, and Syngene International will be in focus ahead of declaring their quarterly earnings on January 25.
Results on January 27: Yes Bank, Macrotech Developers, APL Apollo Tubes, Bhansali Engineering Polymers, Capri Global Capital, Craftsman Automation, Dodla Dairy, Olectra Greentech, Utkarsh Small Finance Bank, and Zen Technologies will release quarterly earnings on January 27.
Tech Mahindra: The digital transformation, consulting, and business re-engineering services company has registered a 3.3 percent sequential growth in net profit at Rs 510.4 crore for the October–December period of FY24. Revenue from operations grew by 1.8 percent QoQ to Rs 13,101 crore, while revenue in dollar terms and constant currency increased by 1.1 percent each.
Bajaj Auto: The two-and-three-wheeler major has recorded a 37 percent on-year growth in standalone net profit at Rs 2,042 crore for the quarter ended December FY24, with broad-based double-digit growth across all segments. Revenue from operations grew by 30 percent year-on-year to Rs 12,113.5 crore for the quarter, with 21.7 percent growth in sales volume. The quarterly EBITDA was at its highest ever level at Rs 2,430 crore, up 37 percent YoY, while margin improved by 100 basis points YoY to 20.1 percent for the quarter, driven by better realisations, dynamic cost management, and operating leverage, which more than absorbed the drag from competitive investments on a growing scale on electric scooters.
Tata Steel: The Tata Group company recorded consolidated net profit of Rs 522.1 crore for the quarter ended December FY24, against a loss of Rs 2,502 crore in the year-ago period, with healthy operating numbers and a fall in input costs. Revenue from operations fell 3.1 percent year-on-year to Rs 55,312 crore for the quarter, while EBITDA surged 54.7 percent YoY to Rs 6,263.6 crore with a margin expansion of 421 bps at 11.3 percent for the quarter.
Mazagon Dock Shipbuilders: The shipbuilding company has signed a contract with the Acquisition Wing of the Ministry of Defense for the construction and delivery of 14 Fast Patrol Vessels (FPVs) for the Indian Coast Guard (ICG). The contract is worth Rs. 1,070 crore.
Zee Entertainment Enterprises: The media and entertainment company issued a reply to Culver Max and Bangla Entertainment (BEPL), denying any breach of its obligations under the Merger Cooperation Agreement (MCA) and reiterating that it has complied with all its obligations in good faith. ZEE further said the claim for a termination fee of $90 million is legally untenable and has no basis whatsoever. ZEE has called upon Culver Max and BEPL to immediately withdraw the termination and confirm that they will perform their obligations to give effect to and implement the merger scheme sanctioned by the National Company Law Tribunal.
Poonawalla Fincorp: Promoter Rising Sun Holdings has bought an additional 40,33,000 equity shares, or 0.52 percent stake, in the non-banking finance company at an average price of Rs 495.85 per share. However, Magma Ventures was the seller in this deal.
Container Corporation of India: The state-owned transport company has clocked 12.7 percent on-year growth in consolidated net profit at Rs 330.6 crore, with healthy growth in operating numbers. Consolidated revenue from operations grew by 10.3 percent year-on-year to Rs 2,210.6 crore for the quarter.
Coal India: The Cabinet Committee on Economic Affairs (CCEA) has approved setting up a coal-to-SNG (synthetic natural gas) project through a joint venture between Coal India and GAIL and a coal-to-ammonium nitrate project through a venture between Coal India and BHEL. Coal India will set up two coal gasification plants as part of efforts to achieve the target of 100 MT coal gasification by 2030.
TVS Motor Company: The two-and-three-wheeler maker has clocked a 68 percent year-on-year growth in net profit at Rs 593 crore for the quarter ended December FY24, while revenue from operations increased by 26 percent YoY to Rs 8,245 crore, with total two-wheeler sales rising 27.1 percent to Rs 10.63 lakh units. Its EBITDA grew by 40 percent year over year to Rs 924 crore, with a margin expansion of 110 bps YoY at 11.2 percent for the quarter.
CEAT: The tire maker has registered a more than five-fold increase in consolidated net profit at Rs 181.3 crore for the October-December period of FY24, increasing from Rs 34.85 crore in the same period last year, backed by strong operating numbers. Revenue from operations grew by 8.6 percent YoY to Rs 2,963.1 crore for the quarter.
DLF: The real estate major has recorded 26.6 percent on-year growth in consolidated net profit at Rs 655.7 crore for the quarter ended December FY24, with healthy operating margin performance and higher other income. Revenue from operations increased by 1.8 percent year-on-year to Rs 1,521.3 crore for the quarter.
DCB Bank: The private sector lender has registered 11.4 percent on-year growth in net profit at Rs 127 crore for the third quarter of FY24, with a 30.5 percent increase in other income and a 9 percent rise in pre-provision operating profit. Net interest income grew by 6.3 percent year-on-year to Rs 474 crore for the quarter, with 14 percent growth in deposits and a 13 percent increase in net advances.
NHPC: The Government of India is proposing to offer up to 50.5 lakh equity shares to eligible and willing employees of NHPC, including its subsidiaries, at a price of Rs 71 per equity share. The dates for the opening of said offer-for-sale to employees will be announced in due course.
Dalmia Bharat: The cement manufacturing company has reported a 22.2 percent on-year growth in net profit at Rs 266 crore for the third quarter of FY24, with healthy operating numbers. Revenue from operations grew by 7.3 percent to Rs 3,600 crore compared to the year-ago period. Its EBITDA for the quarter jumped 20.3 percent to Rs 775 crore, and its EBITDA per ton soared 11.3 percent to Rs 1,138 compared to the corresponding period of the last fiscal.
RailTel Corporation of India: The state-owned company has recorded 94.5 percent on-year growth in net profit at Rs 62.1 crore for the quarter ended December FY24, with healthy topline and operating numbers. Revenue from operations grew by 47.1 percent year-on-year to Rs 668.4 crore for the quarter.
PNB Housing Finance: The housing finance company recorded consolidated net profit at Rs 338.4 crore for the quarter ended December FY24, growing 25.8 percent over a year-ago period, with a significant fall in impairment on financial instruments and write-offs to Rs 59.1 crore from Rs 254.84 crore during the same period. Revenue from operations fell 2.3 percent YoY to Rs 1,754.8 crore for the quarter.
Piramal Enterprises: Piramal Alternatives Trust (PAT), a wholly-owned subsidiary of the company, has entered into an agreement to acquire a 10.39 percent stake in Annapurna Finance (AFPL) for Rs 300 crore through the purchase of equity shares and a subscription to optionally convertible debentures.
Quick Heal Technologies: The antivirus and cybersecurity solutions company has reported consolidated net profit of Rs 10.06 crore for the quarter ended December FY24, against a loss of Rs 9.3 crore in the year-ago period. Revenue from operations grew by 22.6 percent year-on-year to Rs 81.9 crore for the quarter.
Chalet Hotels: The hotel chain recorded consolidated profit of Rs 70.6 crore for the quarter ended December FY24, falling 31 percent compared to the year-ago period, impacted partly by lower other income. Revenue from operations grew by 29 percent YoY to Rs 373.7 crore in Q3 FY24. Further, the board has also approved raising funds up to Rs 2,000 crore through the issue of equity shares or any other convertible instruments, which will be used towards the paring down of debt, organic and inorganic growth, general corporate purposes, and the redemption of preference shares.
Balkrishna Industries: The tire maker has clocked a massive 181.8 percent on-year growth in consolidated net profit at Rs 305.4 crore for the quarter ended December FY24 on robust operating numbers. Consolidated revenue from operations increased 5 percent to Rs 2,274.4 crore compared to the corresponding period last fiscal. Meanwhile, the board of directors has given approval for the merger of BKT Tyres with Balkrishna Industries.
UCO Bank: The state-owned lender has recorded 23 percent year-on-year decline in net profit at Rs 502.8 crore for third quarter of FY24, with net interest income growing 1.9 percent YoY to Rs 1,988 crore and pre-provision operating profit declining 17.3 percent to Rs 1,119.1 crore for the quarter. Asset quality improved, with gross NPA falling 29 bps sequentially to 3.85 percent and net NPA declining 13 bps QoQ to 0.98 percent for the quarter.
Laurus Labs: The pharma company has registered a 88.5 percent on-year decline in profit at Rs 23.34 crore for the third quarter of FY24, with a 67 percent on-year fall in CDMO-synthesis business. Revenue from operations for the quarter dropped 22.6 percent to Rs 1,195 crore compared to the year-ago period.
Borosil: The company said the board of directors has given approval for raising funds up to Rs 250 crore through qualified institution placement (QIP).
IRM Energy: The company has commenced commercial operations at the LCNG station in Namakkal district on January 24. The LCNG Station has a capacity for natural gas compression of 64,800 kg per day at 250 bar (high pressure stream) and 1,04,500 kg per day (medium pressure stream).
Sunteck Realty: Foreign investor CLSA Global Markets Pte Ltd has bought 46,52,002 equity shares, which is equivalent to 3.17 percent of paid-up equity, in the company via open market transactions at an average price of Rs 445.5 per share. However, Briarwood Capital Master Fund sold 47,15,000 equity shares in the company at the same price.
Computer Age Management Services: HDFC Bank has sold 10 lakh equity shares (2.03 percent stake) in the company via open market transactions, amounting to Rs 270 crore. However, Fidelity Investment Trust: Fidelity Emerging Markets Fund F322 bought an additional 2,82,657 equity shares in the company at an average price of Rs 2,700 per share. Fidelity held a 2.87 percent stake, or 14.1 lakh shares, in CAMS.
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