Stock to Watch Today - Rupeedesk Reports - 11.11.2022
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks | Eicher Motors, Zomato, Mahindra & Mahindra, and others in news today.
Results on November 11: Mahindra & Mahindra to be in focus as the company is set to declare its September FY23 quarter earnings on November 11. Others to declare their financials for the quarter ended September 2022 today include Hindalco Industries, Life Insurance Corporation of India, ABB India, Adani Power, Alkem Laboratories, Alembic Pharmaceuticals, Ashoka Buildcon, Astral, Astrazeneca Pharma India, Bharat Dynamics, BHEL, Delhivery, Dhani Services, Easy Trip Planners, Emami, Exide Industries, Fortis Healthcare, GSK Pharma, Glenmark Pharma, Hindustan Aeronautics, Ipca Laboratories, Lemon Tree Hotels, Pfizer, Sun TV Network, Thermax, Ujjivan Financial Services, Zee Entertainment Enterprises, and Zydus Lifesciences.
Results on November 12: Aurobindo Pharma to be in focus as the company is scheduled to come up with its results for the September quarter on November 12. Others listed for declaring their results on Saturday include Brigade Enterprises, Godfrey Phillips India, Hindustan Copper, India Pesticides, JK Cement, Jaiprakash Associates, Lumax Auto Technologies, Manappuram Finance, Paras Defence and Space Technologies, Patanjali Foods, Skipper, and Trident.
Eicher Motors: The automobile company registered highest ever quarterly revenue and profits. It recorded a massive 76% year-on-year growth in profit at Rs 657 crore for the quarter ended September FY23 backed by strong operating as well as top line performance. Revenue from operations at Rs 3,519 crore for the quarter grew by 56.4% and EBITDA increased by 75% to Rs 821.4 crore compared to year-ago period. Margin expanded to 23.3% from 20.9% in the same period. Topline and bottomline were largely in line with analysts' estimates, but operating performance slightly missed estimates. Royal Enfield sold 2.03 lakh motorcycles in September FY23 quarter, an increase of 64.7% YoY.
Zomato: The food delivery giant posted net loss at Rs 251 crore for the quarter ended September FY23, narrowing sharply from loss of Rs 430 crore in same period last year with strong top line and improving operating performance. Revenue from operations for the quarter at Rs 1,661 crore increased by 62% over a year-ago period, and EBITDA loss narrowed to Rs 311 crore from loss of Rs 536 crore in the same period. Hence, the quarterly earnings included ~50 days of Blinkit financials.
Apollo Hospitals Enterprises: The healthcare services provider reported a 20% year-on-year decline in profit at Rs 212.8 crore for the quarter ended September FY23 impacted by weak operating performance, and higher purchases of stock-in-trade. Revenue from operations grew by 14.4% to Rs 4,251 crore compared to year-ago period. EBITDA for the quarter at Rs 565.4 crore declined by 8 percent and margin fell by 330 bps YoY to 13.3% for the September FY23 quarter.
Suzlon Energy: The renewable energy solutions provider has recorded consolidated profit at Rs 57.4 crore for September FY23 quarter, against loss of Rs 10.6 crore in same period last year, led by tax write-back. Revenue from operations for the quarter increased by 6.1% to Rs 1,437.8 crore YoY.
Trent: The company has reported a 1.4% year-on-year decline in consolidated profit at Rs 78.9 crore for the quarter ended September FY23, impacted by higher input cost. Consolidated revenue from operations grew by 65.8% to Rs 1,952.7 crore compared to corresponding period last fiscal. EBITDA increased by 22% to Rs 255.8 crore but margin tanked 470 bps YoY to 13.1 percent for the quarter.
Adani Power: The company has entered into a Memorandum of Understanding to sell its 100% equity stake in subsidiary, Support Properties (SPPL) to AdaniConnex. The transaction value is Rs 1,556.5 crore. ACX is a 50:50 joint venture between promoter group company Adani Enterprises, and EdgeConneX.
Jindal Steel & Power: The company has recorded a 92.3% year-on-year decline in consolidated profit at Rs 200 crore for the quarter ended September FY23, impacted by dismal operating performance and fall in top line. Revenue from operations fell 0.7% YoY to Rs 13,521.4 crore in Q2FY23. EBITDA tanked 58% to Rs 1,931.4 crore and margin contracted by 1,950 bps to 14.3% compared to year-ago period. JSPL has prepaid its entire overseas long term debt.
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