Shares of oil marketing companies, several large and medium-sized banks like Bank Of Baroda, Marico Ltd., Bajaj Finance Ltd., and Dixon Technologies Ltd. will be in focus on Monday.
Many companies have announced their third quarter business updates, while others have announced fundraise or order wins.
Five stocks will exit anchor lock-in period, freeing up the held equity for secondary market trading.
Stocks In News
Oil companies: Venezuela accounts for 1% of world's oil production
The impact on oil price will likely be limited, driven by oversupply in the oil market. RIL refineries can process the extremely heavy and sour Venezuelan oil. Benefits of PSU OMCs is limited.
NHPC: The board is to meet on Jan. 8 to consider fundraising of up to Rs 2,000 crore via bonds.
Adani Enterprises: The company to raise funds up to Rs 1,000 crore via NCDs. Fundraise includes a green shoe option of Rs 500 crore. The NCD issue to open on Jan 6, and close on Jan 19.
Amber Enterprises: Amber Group received Rs 4,700 crore investment PCB manufacturing clearance under ECMS.
Dixon Tech: Arms Kunshan Q Tech Microelectronics (India) and Dixon Electroconnect received government approval under electronic components manufacturing scheme to manufacture camera module sub-assembly and Optical transceiver-SFP.
Tanfac Industries: The board approved fundraise worth Rs 500 crore via QIP, private placement or preferential issue.
Vodafone Idea: Promoters earmark 328 crore shares (3.03% equity) of Vodafone Idea for the company’s benefit. The encumbered shares represent 18.84% of Vodafone Group promoters’ holding, but only 3.03% of total equity. The shares will be sold over five years, and sale proceeds will accrue to Vodafone Idea to meet contingent liabilities. The promoters retain ownership of the shares but cannot sell or encumber them freely outside the agreement.
Bharti Airtel: The board will consider appointment of Shashwat Sharma as MD and CEO Of Airtel India and Gopal Vittal as executive vice chairman.
Biocon: The company issued commercial papers worth Rs 200 crore on a Private Placement basis.
Nibe: The company received Rs 293 crore order from Ministry of Defence for manufacturing ground equipment for Universal Rocket launcher system.
Major Q3 Business Updates
Marico reported strong performance with India volumes growing in high single digits, showing sequential improvement. Parachute volumes were slightly down but turned positive after grammage cuts. Saffola Oils remained muted due to earlier pricing reversals, while value-added hair oils grew in the twenties. The foods business is expected to recover over the next two quarters.
Avenue Supermarts posted a 13% rise in standalone revenue, reaching Rs 17,613 crore. The company continues to expand its footprint, with the total number of stores standing at 442 as of December 31.
Bank of Baroda posted global business up 12.2% YoY at Rs 28.9 lakh crore. Global deposits rose 10.3% to Rs 15.5 lakh crore, while domestic deposits grew 11% to Rs 13.1 lakh crore. Global advances increased 14.6% to Rs 13.4 lakh crore, and domestic advances rose 13.5% to Rs 10.9 lakh crore. Domestic retail advances were up 17.3% at Rs 2.9 lakh crore.
Punjab National Bank’s global business grew 9.6% YoY to Rs 28.9 lakh crore, while domestic business rose 9.1% to Rs 27.7 lakh crore. Domestic deposits increased 8.3% to Rs 15.9 lakh crore, and global deposits were up 8.5% at Rs 16.6 lakh crore. Domestic advances grew 10.2% to Rs 11.7 lakh crore, and global advances rose 11% to Rs 12.3 lakh crore.
Bajaj Housing Finance reported Q3 gross disbursements up 31.5% YoY at Rs 16,535 crore. Assets under management as of December 31 rose 23% to Rs 1.33 lakh crore, while loan assets increased 22.7% to Rs 1,17,290 crore.
Bajaj Finance reported Q3 AUM growth of Rs 23,600 crore. Customer franchise increased by 47.6 lakh, and new loans booked were up 15% at 1.4 crore. Customer franchise as of December 31 stood at 11.5 crore, up 18.6%. Deposits book rose 3.2% to Rs 71,000 crore.
Vedanta reported total aluminium production up 1% YoY at 620 KT. Zinc India mined metal output rose 4% to 276 KT, while Zinc International production surged 28% to 59 KT. Power sales grew 40% YoY, supported by commissioning of Athena and Meenakshi power plants.
Trading Tweaks
Ex-bonus Issue: Orient Technologies (1:10).
Ex-buyback: Fairchem Organics.
Share to exit anchor Lock-in: Sambhav Steel Tubes (48%), Globe Civil Projects (51%), OM Freight Forwards (2%), Brigade Hotel Ventures (4%), Advance Agrolife (4%).
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