Stocks to Watch: Equity benchmarks may start Tuesday’s trade with nominal gains as indicated by the SGX Nifty futures, quoting 50 points above Monday’s close at 17,844 level.
Globally, the US markets were subdued overnight due to rate hike concerns. Key indices like Dow Jones, the S&P 500, and NASDAQ Composite declined up to 1 per cent.
Asia-Pacific markets, however, rose this morning as investors await decisions from central banks. Nikkei 225, the S&P 200, Topix, Kospi, Kosdaq, Hang Seng, and Shanghai Composite indices climbed up to 1 per cent.
Here are some stocks to watch out in trade today:
Q3 earnings watch: Bharti Airtel, Hero MotoCorp, Ambuja Cements, Adani Ports and Special Economic Zone, Adani Green Energy, NDTV, Aditya Birla Fashion and Retail, Astral, Barbeque-Nation Hospitality, Bharat Dynamics, Computer Age Management Services, Deepak Nitrite, Gujarat Fluorochemicals, GSK Pharma, Kalyan Jewellers India, NHPC, Phoenix Mills, Ramco Cements, Sobha, Thermax, and Wonderla Holidays, among others will release their quarterly earnings today.
Tata Steel: The company reported a consolidated net loss of Rs 2,223.84 crore in the December quarter (Q3FY23) on the back of a sharp drop in realisations in Europe coupled with a non-cash deferred tax expense on account of British Steel Pension Scheme. In the year-ago period, the firm had posted a net profit of Rs 9,572.67 crore. READ
Muthoot Finance: India’s largest gold financing company in terms of loan portfolio, has posted an 11 per cent dip in consolidated net profit during the third quarter of 2022-23 to Rs 934 crore. The firm had posted a net profit of Rs 1,044 crore a year ago.
Hindalco: Novelis reported weaker-than-expected numbers with sales declining 3 per cent to $4.2 billion from $4.3 billion last year. Operating profit declined 33 per cent, hit by lower volumes, high inflation and tight scrap spreads. The management said things were bottoming out in the December quarter but did not give a fixed guidance. It also said it remains confident of reaching EBITDA per tonne of $500 – $525 per tonne by next year.
RIL, Ashok Leyland: Mukesh Ambani-led Reliance Industries (RIL) and Ashok Leyland on Monday unveiled India’s first Hydrogen Internal Combustion Engine (H2-ICE) powered heavy duty truck. The vehicle was flagged off by Prime Minister Narendra Modi in Bengaluru at the India Energy Week.
JK Paper: The company reported its profit more than doubled in the third quarter, on the back of higher demand for copier papers and packaging boards from schools and offices post-pandemic. Its profit rose 119 per cent year-on-year to Rs 329.3 crore for Q3FY23, while revenue grew 60.5 per cent YoY to Rs 1,643 crore for the quarter.
Adani Transmission: The company posted a nearly 73 per cent jump in its consolidated net profit to Rs 478 crore in the December quarter of 2022-23 on the back of a one-time income gain and higher revenues.
UltraTech Cement: The cement major has announced commissioning of 1.5 mpta brownfield cement grinding unit at Jharsuguda in Odisha, taking the total cement capacity in Odisha to 4.1mtpa. With this commissioning, company’s total cement manufacturing capacity in India now stands at 122.85 mtpa.
Dhampur Sugar Mills: The company has completed expansion of its distillery capacity by 130 KLPD (kilo litre per day) on ‘C’ heavy molasses at Dhampur unit in Uttar Pradesh. With this expansion, the distillery capacity of the company stands at 350 KLPD.
Grasim: The Board of Grasim Industries has inducted Ananya Birla and Aryaman Vikram Birla as directors, at its meeting held on Monday. Ananya and Aryaman Vikram Birla were recently inducted as directors on the board of Aditya Birla Management Corporation Pvt Ltd, the apex body that provides strategic direction to the Aditya Birla Group’s businesses.
Nuvoco Vistas Corporation: The company has narrowed its loss to Rs 75.3 crore for Q3FY23 from a loss of Rs 85.5 crore in same period last year. Revenue rose 20 per cent YoY to Rs 2,605 crore from a year-ago.
LIC Housing Finance: The housing finance company recorded a 37 per cent fall in net profit to Rs 480 crore for Q3FY23 versus year-ago period, impacted by impairment on financial instruments. Net interest income grew by 10.4 per cent year-on-year to Rs 1,605.9 crore for the quarter.