Stock to Watch Today - Rupeedesk Reports - 15.05.2024
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Bharti Airtel, Cipla, Siemens, Shree Cement, Colgate Palmolive and others in news.
Bharti Airtel: The country's second-largest telecom operator has recorded a 31.1 percent on-year decline in consolidated net profit at Rs 2,072 crore for the quarter ended March FY24, due to an exceptional loss of Rs 2,455.5 crore (against nil in Q4 FY23). Revenue from operations grew by 4.4 percent year-on-year to Rs 37,599 crore and was impacted by currency devaluation in Africa. Consolidated EBITDA at Rs 19,590 crore increased by 4.2 percent over the corresponding period of the previous fiscal, with the margin falling 12 bps YoY at 52.1 percent. Average revenue per user (ARPU) for the quarter was Rs 209, against Rs 193 in the year-ago period.
Mahindra and Mahindra: Mahindra Holdings (MHL), a wholly-owned subsidiary of the company, has executed a Share Purchase Agreement with Space Investments, Defati Investments Holdings BV and Infinity Partners, and New Delhi Centre for Sight (NDCFS) and the promoters of NDCFS. As per the agreement, MHL will sell its entire 30.83 percent stake in NDCFS for Rs 425.39 crore.
Colgate Palmolive (India): The oral care company recorded a net profit of Rs 379.8 crore for the March FY24 quarter, growing 20.1 percent over the corresponding period of the previous fiscal year, with strong growth in topline as well as operating numbers. Revenue from operations increased by 10.3 percent year over year to Rs 1,490 crore. Meanwhile, the board has declared an interim dividend of Rs 26 per share and a one-time special dividend of Rs 10 per share.
Shree Cement: The cement company has recorded a 21 percent on-year growth in net profit at Rs 662 crore for the quarter ended March FY24, with robust growth in operating numbers. Revenue from operations grew by 7 percent year-on-year to Rs 5,101 crore, with sales volume increasing by 8 percent to 9.53 million metric tons during the quarter. On the operating front, EBITDA jumped 49 percent to Rs 1,327 crore, which is the highest ever, with a margin expansion of 740 bps at 26 percent for Q4 FY24.
Siemens: The company has registered a massive 70.2 percent on-year growth in consolidated net profit at Rs 803 crore for the quarter ended March FY24, with healthy growth in topline as well as operating numbers. Revenue from operations for the second quarter of FY24 stood at Rs 5,750 crore, up 18.4 percent over the corresponding period of the previous fiscal. It received new orders worth Rs 5,184 crore. Meanwhile, the board has given its approval for an investment of around Rs 519 crore towards capacity addition at the gas-insulated switchgear factory in Goa and the Metro train manufacturing facility in Aurangabad.
Cipla: The promoter family and Okasa Pharma are likely to sell as much as a 2.53 percent stake worth Rs 2,637 crore via a block deal, CNBC-Awaaz reliably learns from sources. The price at which the Cipla block is expected to happen is between Rs 1,289.50-1,357.35 per share.
Bharti Hexacom: The mobile, fixed-line telephone, and broadband services provider has reported 10.2 percent on-year growth in net profit at Rs 222.6 crore for the January–March FY24 quarter, with strong operating margin performance. Revenue from operations grew by 7.8 percent year-on-year to Rs 1,868 crore for the quarter. On the operating front, EBITDA for the quarter increased by 14.6 percent to Rs 914 crore, with a margin expansion of 290 bps at 48.9 percent compared to the year-ago period.
Apollo Tyres: The tire manufacturing company recorded a net profit of Rs 354 crore for the fourth quarter of the financial year 2024, falling 13.7 percent compared to the year-ago period, impacted by an exceptional loss of Rs 36.8 crore (against an exceptional gain of Rs 22.6 crore YoY) and higher tax costs. Muted topline growth also impacted the bottomline as revenue from operations grew by 0.2 percent year over year to Rs 6,258 crore for the quarter.
Infosys: The Bengaluru-based digital services and consulting company has announced a multi-year strategic collaboration with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), to optimize and modernize FAB’s IT infrastructure services.
Aadhar Housing Finance: The affordable housing finance company will list its equity shares on the BSE and NSE on May 15. The issue price has been fixed at Rs. 315 per share.
Results on May 15: Power Finance Corporation, LIC Housing Finance, Clean Science and Technology, CMS Info Systems, Dixon Technologies (India), Granules India, Indian Energy Exchange, Jindal Stainless, Jyothy Labs, Mankind Pharma, Medi Assist Healthcare Services, NLC India, and Shriram Asset Management Company will release March FY24 quarter earnings on May 15.
Oberoi Realty: The Mumbai-based real estate developer has registered a whopping 64 percent on-year growth in net profit at Rs 788 crore for the quarter ended March FY24, with robust topline and operating numbers. Revenue from operations grew by 36.8 percent year over year to Rs 1,315 crore for the quarter.
TBO Tek: The trading in equity shares of the travel distribution platform will commence on the bourses with effect from May 15. The final issue price has been fixed at Rs. 920 per share.
Shilpa Medicare: The pharma company has completed an ongoing Phase 3 clinical trial of its newly developed drug, SML-007, for the treatment of non-alcoholic fatty liver disease (NAFLD). Phase 3 clinical study dosing is expected to be completed by the end of Q1, and the study is likely to be concluded by the end of Q2 of the current fiscal year (FY25).
Man Infraconstruction: The company has recorded disappointing performance for the quarter ended March FY24, with the net profit falling 29.4 percent on-year to Rs 64.7 crore and revenue declining 56.4 percent year-on-year to Rs 296.7 crore for the quarter.
Patanjali Foods: The food processing company has reported net profit of Rs 206.3 crore for the March FY24 quarter, falling 21.8 percent compared to the same period of the previous fiscal year despite growth in topline and operating numbers and higher other income. Revenue from operations increased by 4.4 percent year over year to Rs 8,221.66 crore for the quarter.
V-Mart Retail: The company has posted a net loss of Rs 38.9 crore for the fourth quarter of fiscal year 2024, widening from a loss of Rs 37 crore in the year-ago period despite strong topline and operating numbers. Revenue from operations grew by 12.6 percent year over year to Rs 668.6 crore for the quarter.
Dalmia Bharat Sugar and Industries: The sugar company has reported net profit of Rs 93 crore for the fourth quarter of the financial year 2024, falling 25 percent compared to the year-ago period, with a subdued topline. Revenue from operations declined 35 percent year over year to Rs 750 crore for the quarter.
TGIF Agribusiness: The company will make its debut on the BSE SME on May 15. The issue price is Rs. 93 per share. The stock will be available in the trade-for-trade segment for 10 trading days.
Butterfly Gandhimathi Appliances: The company has posted a net loss of Rs 19.8 crore for the March FY24 quarter, against a profit of Rs 1.56 crore in the corresponding period of the previous fiscal. Revenue from operations fell by 10.9 percent year over year to Rs 166.4 crore for the quarter.
Radico Khaitan: The liquor maker has recorded consolidated net profit of Rs 53.9 crore for the quarter ended March FY24, growing 26.4 percent over the corresponding period of the previous fiscal year, with healthy topline and operating numbers. Revenue from operations grew by 30 percent year-on-year to Rs 1,079 crore for the fourth quarter of the financial year 2024.
Thyrocare Technologies: The diagnostic company has reported a 41.1 percent on-year growth in net profit at Rs 17.8 crore for the quarter ended March FY24, with strong topline and operating numbers. Revenue from operations grew by 13.5 percent year-on-year to Rs 154.3 crore for the fourth quarter of fiscal year 2024.
Speciality Restaurants: The restaurant company has reported net profit at Rs 3.1 crore for the fourth quarter of fiscal year 2024, falling sharply by 94.4 percent compared to Rs 55.31 crore in the year-ago period. In Q4 FY23, the profit was boosted by a tax credit and an exceptional gain. Revenue from operations grew by 9.9 percent year over year to Rs 96.2 crore for the quarter.
Sagar Cements: The cement company registered net profit at Rs 11.6 crore for the March FY24 quarter, declining 87 percent compared to the corresponding period of the previous fiscal despite healthy topline and operating numbers, as other income fell 76 percent to Rs 43.74 crore during the same period. Revenue from operations grew by 14 percent year over year to Rs 708.7 crore for the quarter.
Aurionpro Solutions: The technology solutions company has recorded net profit at Rs 40 crore for the quarter ended March FY24, growing 48 percent over the year-ago period, with revenue rising 29 percent year-on-year to Rs 247 crore and EBITDA increasing 30 percent to Rs 52 crore for the quarter. Meanwhile, the board has announced the issuance of bonus shares in the ratio of 1:1 and recommended a dividend of Rs 2.5 per share.
Silkflex Polymers: The trading in equity shares of the company will commence on the NSE Emerge, with effect from May 15. The issue price is Rs. 52 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.
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