Stock to Watch Today - Rupeedesk Reports - 05.02.2024
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: IndiGo, PB Fintech, SBI, Tata Motors, Bharti Airtel, Paytm, Zee, others in news.
Results on February 5: Bharti Airtel, Alembic Pharmaceuticals, Ashok Leyland, ASK Automotive, Sun Pharma Advanced Research Company, Bajaj Consumer Care, Bajaj Electricals, Barbeque-Nation Hospitality, eMudhra, Fusion Micro Finance, Ideaforge Technology, Insecticides (India), Linde India, Tata Chemicals, Triveni Turbine, TVS Supply Chain Solutions, Unichem Laboratories, Varun Beverages, and Vijaya Diagnostic Centre will be in focus ahead of declaring their quarterly earnings on February 5.
InterGlobe Aviation: The low-cost airline company has registered a massive 110.7 percent on-year growth in profit at Rs 2,998.1 crore for the October–December period of FY24, driven by healthy topline and operating performance. Revenue from operations for the quarter increased by 30 percent to Rs 19,452 crore compared to the corresponding period of the last fiscal. EBITDAR grew by 61 percent year-on-year to Rs 5,475.1 crore during the quarter, with a margin expansion of 530 bps at 28.1 percent for the quarter. Yield increased by 2 percent year over year to Rs 5.48, and load factor improved by 0.7 points to 85.8 percent in Q3 FY24.
Tata Motors: The Tata Group company has recorded 137.5 percent on-year growth in consolidated profit at Rs 7,025 crore for the quarter ended December FY24, driven by strong operating numbers. Revenue from operations grew by 25 percent YoY to Rs 1,10,577 crore for the quarter, while EBITDA for the quarter surged 59 percent to Rs 15,333.3 crore and margin expanded 300 bps to 13.9 percent compared to the year-ago period, with all automotive verticals continuing their profitable growth trajectory.
One 97 Communications: Foreign institutional investor Morgan Stanley Asia (Singapore) Pte. Ltd. (ODI has bought 50 lakh equity shares, which is equivalent to 0.79 percent of paid-up equity, at an average price of Rs 487.2 per share. The Paytm shares were valued at Rs 243.6 crore. The circuit limit lowered to 10% from 20% earlier, after consistent sharp correction in the stock price last week.
PB Fintech: Venture capital fund PI Opportunities Fund II has sold 46,43,528 equity shares, which is equivalent to 1.03 percent of total paid-up equity, via open market transactions. These shares were sold at an average price of Rs 985.07 per share, valued at Rs 457.42 crore. PI Opportunities Fund held a 1.93 percent stake in the company as of December 2023.
State Bank of India: The public sector lender has recorded standalone profit at Rs 9,164 crore for the quarter ended December FY24, falling sharply by 35.5 percent compared to the year-ago period due to an exceptional loss of Rs 7,100 crore for the quarter, while provisions and contingencies plunged 88 percent and pre-provision operating profit declined 19.4 percent. Net interest income grew by 4.6 percent YoY to Rs 39,816 crore during the quarter, while asset quality was stable, with gross NPA falling 13 bps QoQ to 2.42 percent and net NPA remained flat at 0.64 percent in Q3 FY24.
Zee Entertainment Enterprises: The Singapore International Arbitration Centre (SIAC) has denied interim relief to Culver Max, which operates Sony Pictures Networks India, and Bangla Entertainment, against Zee Entertainment Enterprises' plea before the National Company Law Tribunal (NCLT) seeking the implementation of the merger scheme, as per a regulatory filing. SIAC has determined that its emergency arbitrator has "no jurisdiction or authority to injunct the company from approaching the NCLT to implement the merger scheme since these are matters that fall within the statutory system and are for the NCLT to decide.
LIC Housing Finance: The housing finance company has recorded a massive 142 percent on-year increase in net profit at Rs 1,163 crore for the quarter ended December FY24. Net interest income grew by 31 percent year-on-year to Rs 2,097 crore, and revenue from operations rose 16 percent to Rs 6,792 crore in Q3 FY24, while the outstanding loan portfolio was up by 5 percent to Rs 2,81,206 crore for the quarter.
MOIL: The state-owned manganese ore mining company has registered a 37 percent year-on-year growth in net profit at Rs 54.1 crore for the October–December period of FY24, driven by healthy operating numbers. Revenue from operations increased by 1.4 percent to Rs 306.3 crore compared to the year-ago period.
Bajaj Finance: The company has entered into a Securities Subscription Agreement or Shareholders’ Agreement to acquire a 7 percent stake (on a fully diluted basis) in RMBS Development Company.
Delhivery: The logistics company has registered consolidated net profit at Rs 11.7 crore for the third quarter of FY24, against a loss of Rs 195.7 crore in the corresponding period of the last fiscal, partly aided by topline and other income. Revenue from operations grew by 20.3 percent year-on-year to Rs 2,194.5 crore during the quarter.
Mahindra Lifespace Developers: The Mahindra Group company has reported consolidated net profit of Rs 50.02 crore for the quarter ended December FY24, rising 46.7 percent over a year-ago period despite a drop in topline. Revenue from operations fell 56.1 percent year-on-year to Rs 82 crore during the quarter.
Titagarh Rail Systems: The company has recorded consolidated net profit of Rs 74.8 crore for the October–December period of FY24, growing sharply by 130 percent over a year-ago period on healthy operating numbers. Revenue from operations increased 24.6 percent year-on-year to Rs 954.7 crore in Q3 FY24.
Allcargo Gati: The express distribution and supply chain management company has reported consolidated net profit of Rs 18.8 crore for the quarter ended December FY24, against a loss of Rs 4.7 crore in the year-ago period, as there was an exceptional gain of Rs 33.52 crore against an exceptional loss of Rs 0.79 crore during the same period. Revenue from operations fell 3.8 percent year-on-year to Rs 424.5 crore during the quarter.
Cochin Shipyard: The state-owned shipping company has entered into a contract with the Indian Navy for the medium refits of two Indian naval vessels. This multiple-refinance contract was worth Rs 150 crore. Its scope of work includes dry-docking and refit as well as upgrading equipment on board the ships.
KPI Green Energy: KPIG Energia, a wholly owned subsidiary of the company, has received a new order of 15 MW for executing a solar power project under the captive power producer (CPP) segment from Aether Industries. The projects are scheduled to be completed in FY25, in various tranches.
Aurobindo Pharma: The United States Food and Drug Administration (US FDA) inspected Unit-III, a formulation manufacturing facility of Eugia Pharma Specialities, a wholly owned subsidiary of the company in Telangana, from January 22 to February 2. The US FDA closed its inspection with nine observations for the said unit. The company has decided to temporarily stop manufacturing on certain lines to conduct a holistic investigation and the corresponding partial distribution thereto. At this point in time, the company sees no material impact on the business.
Dalmia Bharat Sugar: The company has reported net profit of Rs 62 crore for the quarter ended December FY24, falling 4 percent compared to the year-ago period, with lower topline and operating numbers. Revenue from operations declined 3 percent YoY to Rs 584 crore during the quarter, while EBITDA slipped 3 percent to Rs 109 crore.
UPL: The crop solutions company has posted a consolidated net loss of Rs 1,217 crore for the third quarter of FY24, against a profit of Rs 1,087 crore in the year-ago period, impacted by a significant fall in topline and weak operating numbers. Consolidated revenue from operations dropped 27.7 percent to Rs 9,887 crore compared to the corresponding period of the last fiscal.
Bank of India: The public sector lender has recorded a 62.5 percent on-year increase in standalone profit at Rs 1,870 crore for the quarter ended December FY24, driven by a fall in bad loan provisions. Net interest income for the quarter fell 2.4 percent year-on-year to Rs 5,463 crore, with the net interest margin declining 43 bps YoY at 2.85 percent. Asset quality improved with the net NPA falling 13 bps sequentially to 1.41 percent and the gross NPA declining 49 bps QoQ to 5.35 percent for the quarter.
Pricol: Europe-based financial services group Societe Generale has picked 8,24,704 equity shares, or 0.68 percent, in the automotive components manufacturing company via open market transactions at an average price of Rs 408.05 per share. However, private equity firm PHI Capital Solutions LLP sold 20 lakh equity shares, which is equivalent to 1.64 percent of paid-up equity, at an average price of Rs 408.08 per share. PHI Capital has been selling its stake in Pricol since December, as it held 25.4 lakh shares, or 2.08 percent, as of December 2023, against 69.84 lakh shares, or 5.73 percent, as of September 2023.
Cords Cable Industries: Ace investor Ashish Chugh has picked up 66,000 equity shares, which is equivalent to 0.51 percent of paid-up equity, via open market transactions. These shares were bought at an average price of Rs 141.29 per share.
Affle: The consumer intelligence-driven global technology company has reported net profit of Rs 76.8 crore for the third quarter of FY24, rising 11.4 percent over a year-ago period despite a weak operating margin. Revenue from operations increased 32.6 percent year-on-year to Rs 498.7 crore for the quarter, with CPCU segment revenue rising 38.2 percent YoY to Rs 477.4 crore.
Metropolis Healthcare: The diagnostic service provider has reported a 25 percent on-year decline in net profit at Rs 27 crore for the quarter ended December FY24, impacted by tepid topline growth and weak operating numbers. Revenue from operations for the quarter increased by 2.1 percent to Rs 291 crore, while core business revenue (excluding COVID and COVID-allied PPP contracts) grew by 12.6 percent to Rs 286 crore compared to the same period last year.
Tourism Finance Corporation of India: Quant Mutual Fund has bought 6 lakh equity shares, or 0.66 percent, in Tourism Finance at an average price of Rs 208.57 per share. Aatman Innovations picked up 5 lakh shares in TFCI at an average price of Rs 204.3 per share.
GHCL: The company has registered a 60.4 percent on-year decline in consolidated net profit at Rs 99.9 crore for the quarter ended December FY24, impacted by weak operating numbers as well as topline. Consolidated revenue from operations for the quarter fell by 27.6 percent to 797.33 crore compared to the corresponding period of the last fiscal.
Megatherm Induction: The company will list its equity shares on the NSE Emerge on February 5. The issue price is Rs. 108 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.
Mayank Cattle Food: The cattle food and edible oil manufacturer is set to list equity shares on the BSE SME on February 5. The issue price is Rs. 108 per share. The stock will be in the trade-for-trade segment for 10 trading days.
Harshdeep Hortico: The pots and planters manufacturing company is going to debut on the BSE SME on February 5. The issue price is Rs. 45 per share. The stock will be in the trade-for-trade segment for 10 trading days.
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