Stock to Watch Today - Rupeedesk Reports - 02.11.2022
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks | Tech Mahindra, Adani Ports, Maruti Suzuki, and others in news today.
Results on November 2: M&M Financial Services to be in focus ahead of the quarterly earnings scheduled to be declared today. Others to share their financial results for the September quarter on November 2 include Adani Transmission, Dalmia Bharat, EIH, GATI, Gravita India, JK Paper, Kajaria Ceramics, KSB, Mahindra Holidays & Resorts India, MTAR Technologies, Procter & Gamble Hygiene & Health Care, Redington, SIS, and Triveni Turbine.
Tech Mahindra: The IT services company has recorded a 13% sequential increase in consolidated profit at Rs 1,299 crore for the quarter ended September FY23. Consolidated revenue increased by 3.3% QoQ to Rs 13,129 crore for the quarter. Revenue in dollar terms grew by 0.3% QoQ to $1,638 million and it clocked 2.9% growth in revenue in constant currency terms. The company has declared special dividend of Rs 18 per share.
Adani Ports and Special Economic Zone: The company's consolidated profit increased by 65.5% YoY to Rs 1,738 crore for the quarter ended September FY23, supported by top line, operating income and lower tax cost. Revenue surged 33% YoY to Rs 5,211 crore for the quarter. Cargo for the quarter stood at 86.6 MMT, a 15% YoY growth.
Voltas: The company posted consolidated loss of Rs 6 crore for the quarter ended September FY23 as against a profit of Rs 104 crore for the same period last year, impacted by provision made on an overseas project. Total income for the quarter at Rs 1,833 crore rose by 5.5 percent compared to the year-ago period.
LIC Housing Finance: The housing finance company clocked a 23% YoY growth in standalone profit at Rs 305 crore for the quarter ended September FY23. Revenue from operations for the quarter grew by 8% to Rs 5,085 crore compared to year-ago period.
NCC: The company has received two new orders for Rs 1,056 crore in October 2022. All these orders are related to water & environment division and is received from state government agencies.
Kansai Nerolac Paints: The company has recorded a 27% year-on-year increase in consolidated profit at Rs 111.2 crore for the quarter ended September FY23, supported by higher operating income. Revenue from operations grew by 19% YoY to Rs 1,931 crore for the quarter. The quarter witnessed good demand in automotive with the easing of the supply chain challenges, but demand in decorative was subdued due to extended rains.
Karnataka Bank: The bank recorded a massive 228% year-on-year growth in standalone profit at Rs 412 crore for the quarter ended September FY23 as there was write-back of provisions and contingencies of Rs 14 crore in Q2FY23. Net interest income grew by 26% YoY to Rs 803 crore for the quarter.
Maruti Suzuki India: The country's largest car maker announced production of 1.56 lakh vehicles in October 2022, increasing 15.8% compared to 1.34 lakh units produced in same month last year. Production volume in October 2021 was adversely impacted due to a sizeable shortage of electronic components.
TVS Motor Company: The company registered a growth of 2% with sales increasing from 3.55 lakh units in October 2021 to 3.60 lakh units in October 2022. Total two-wheelers registered sales of 3.44 lakh units in October this year against sales of 3.41 lakh units in same month last year.
Eicher Motors: The company sold 82,235 units of Royal Enfield in October 2022, up by 86% compared to 44,133 units sold in same month last year. International business sold 5,707 units of Royal Enfield in October this year, up 62% YoY.
JK Tyre and Industries: The tyre maker reported a 24% YoY decline in consolidated profit at Rs 49.6 crore for the quarter ended September FY23, impacted by exceptional loss of Rs 23 crore. Revenue from operations for the quarter at Rs 3,756 crore increased by 26% compared to year-ago period.
Hero MotoCorp: The company has sold 4.54 lakh motorcycles & scooters in October 2022, a 17% decline compared to 5.47 lakh units sold in year-ago month. In current financial year, it sold 32.72 lakh units, higher by 8.7% compared to 30.11 lakh units sold in same period last year.
Tejas Networks: The company has received approval for manufacturing of telecom and networking products under design-led PLI (production linked incentive) scheme. The company has committed to make a minimum cumulative capital investment of Rs 750 crore over the scheme period.
Cholamandalam Investment and Finance Company: The company has reported a 7% year-on-year decline in standalone profit at Rs 563.41 crore for the quarter ended September FY23, impacted by significant increase in impairment of financial instruments. Revenue from operations grew by 21% YoY to Rs 2,988 crore for the quarter.
Chambal Fertilisers & Chemicals: The company has reported a 46% year-on-year fall in consolidated profit at Rs 274 crore for the quarter ended September FY23, impacted by weak operating performance as input cost and other expenses were significantly higher YoY. Consolidated revenue from operations grew by 92% YoY to Rs 8,587 crore for the quarter.
Grasim Industries: The company said its Finance Committee of the Board of Directors has approved issue of non-convertible debentures (NCDs) on private placement basis, for up to Rs 1,000 crore, in one or more tranches.
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