Stocks To Watch: Adani Enterprises, NDTV, Lupin, Indian Hotels, Indus Towers, Blue Dart, Motherson, Marico

Asian stocks fell after a report saying the Bank of Japan will discuss tweaking policy on Friday rumbled through financial markets. The Topix and Nikkei 225 equity indexes both slid more than 1%, leading declines in Asia. Futures for Hong Kong stocks also dropped.

U.S. equities had gained earlier on Thursday as domestic gross
domestic product picked up steam in the second quarter, however the equites swung to losses and the markets ended lower.

Meanwhile, Brent crude was above $84 a barrel and West Texas Intermediate was below the $80-mark. The yield on the 10-year U.S. bond was trading at 4.01% and Bitcoin was below 30,000-level.

At 5:33 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 9 points or 0.05% at 19,660.

Back home, India's benchmark stock indices opened higher and started declining after early trade on Thursday, even as most global markets rose following a 25 basis points rate hike by the U.S. Federal Reserve. The auto and energy sectors declined, whereas pharma stocks advanced on the back of strong June quarter earnings.

Overseas investors in Indian equities turned net sellers on Thursday after two days of buying. Foreign portfolio investors sold stocks worth Rs 3,979.4 crore, while domestic institutional investors bought stocks worth Rs 2,528.2 crore.

The local currency strengthened about 6 paise to close at Rs 81.94 against the U.S. dollar on Thursday.

Adani Enterprises: Adani New Industries has raised trade finance facility of $394 million, Rs 3,231 crore, from Barclays PLC and Deutsche Bank AG. This is to secure working capital for its integrated solar module manufacturing facility.

Lupin: The drug maker has addressed the concerns raised in the warning letter by U.S. FDA for its Goa and Pithampur facilities, through its corrective actions.

Indian Hotels: The company or one of its subsidiaries will purchase 100% equity of Pamodzi Hotels PLC, a listed company in Zambia, from Tata International Singapore PTE Ltd. It will buy 90% stakefrom Tata, while acquiring 10% remaining stake through delisting pprocess in Zambia.

JK Lakshmi Cement: The company has acquired 100% equity shareholding of Hidrive Developers and Industries for Rs 16.33 crore in cash. It has also agreed to raise up to Rs 2,500 crore through debt to partly finance its ongoing projects and also for various growth opportunities.

Rail Vikas Nigam: Government has agreed to exercise green shoe option in Rail Vikas Nigam offer for sale. It will divest an additional 1.96% stake in Rail Vikas Nigam under its green shoe option. The non-retail portion got 273% demand on Day 1.

Ipca Laboratories: The Competition Commission of India has approved Ipca Laboratories proposal to acquire controlling stake in Unichem Laboratories. Ipca will acquire one-third of Unichem's overall shareholding for a cash consideration of Rs 1,034.06 crore. It will make necessary open offer to public shareholders for 26% stake in Unichem as per SEBI regulations.

Welspun Enterprises: The company has signed a share purchase agreement  with Authum Investment & Infrastructure, Sansaar Housing Finance and Michigan Engineers to acquire 50.10% stake in Michigan Engineers for Rs 137.07 crore in cash.

NACL: The company has approved to foray into specialty materials and intermediates, specialty nutrition and bioproducts. It has considered an investment of Rs 1,000 crore over the next three years for the business, including expansion of its existing manufacturing and R&D facilities for captive as well as custom development and contract manufacturing opportunities.

Motherson Sumi Wiring India, Marico, Mahindra & Mahindra Financial Services, Laxmi Organic Industries, IFB Industries, KFin Technologies, Indian Oil Corporation, Fino Payments Bank, Exide Industries, Equitas Small Finance Bank, eMudhra, DCB Bank, Cigniti Technologies, Chalet Hotels, Bank Of India, Apar Industries, United Breweries, Swaraj Engines, Supreme Industries, Star Health and Allied Insurance Company, SBI Cards and Payment Services, Route Mobile, RITES, NLC India.

Yatharth Hospital & Trauma Care Services’s initial public offering was subscribed 3.03 times on day 2 and fully subscribed 1.08 times on day 1. Non-institutional investors led the demand and subscribed 5.85 times, retail investors subscribed 3.36 times. The portion for institutional investors was subscribed 0.29 times or 29%.The IPO includes a fresh issue of Rs 490 crore and an offer for sale of 65.51-lakh shares. The issue will close on July 28.

NDTV Q1 FY24 (Consolidated, QoQ)

• Revenue up 4.5% at Rs 70 crore vs. Rs 67 crore.

• Ebitda loss at Rs 9.49 crore vs. loss at Rs 14.8 crore.

• Net loss of Rs 8.08 crore vs. loss of Rs 1.08 crore

Ajanta Pharma Q1 FY24 (Consolidated, YoY)

• Revenue up 7% at Rs 1,021 crore vs. Rs 951 crore (Bloomberg estimate: Rs 1,009 crore).

• Net profit rises 19% to Rs 208 crore vs. Rs 175 crore (Bloomberg estimate: Rs 150 crore).

• Ebitda up 22% to Rs 271 crore from Rs 222 crore (Bloomberg estimate: Rs 232 crore).

• Margin at 26.6% vs. 23.3% (Bloomberg estimate: 23%)

Shyam Metalics and Energy (Consolidated, YoY)

• Revenue up 2.59% at Rs 3,306.81 crore vs. Rs 3,223.2 crore (Bloomberg estimate: Rs 3,299.6 crore).

• Net profit down 42.78% at Rs 237.39 crore vs. Rs 414.85 crore (Bloomberg estimate: Rs 195.5 crore).

• Ebitda declines 33.26% to Rs 404.85 crore vs. Rs 606.6 crore (Bloomberg estimate: Rs 396.7 crore).

• Ebitda margin at 12.24% vs. 18.82% (Bloomberg estimate: 12%).

JK Lakshmi Cement (Consolidated, YoY)

• Revenue up 4.6% at Rs 1,730.25 crore vs. Rs 1,654.14 crore (Bloomberg estimate: Rs 1751.3 crore).

• Net profit down 30.66% at Rs 79.79 crore vs. Rs 115.07 crore (Bloomberg estimate: Rs 112 crore).

• Ebitda declines 23.6% to Rs 196.23 crore vs. Rs 256.85 crore.

• Ebitda margin at 11.34% vs. 15.53%

Indian Hotels Q1 FY24 (Consolidated, YoY)

• Revenue up 16% at Rs 1,466.4 crore vs. Rs 1,266.1 crore (Bloomberg estimate: Rs 1,440 crore).

• Net profit up 31% at Rs 222.4 crore vs. Rs 170 crore.

• Ebitda up 8.5% at Rs 410 crore vs. Rs 378 crore (Bloomberg estimate: Rs 430 crore).

• Margin at 28% vs. 30% (Bloomberg estimate: 29.87%)

Sona Comstar Q1 FY24 (Consolidated, YoY)

• Revenue up 25.17% at Rs 731.3 crore vs. Rs 584.2 crore (Bloomberg estimate: Rs 776 crore).

• Ebitda rises 47.37% to Rs 202.5 crore vs. Rs 137.4 crore (Bloomberg estimate: Rs 249.47 crore).

• Ebitda margin at 27.69% vs. 23.51% (Bloomberg estimate: 32.15%).

• Net profit up 47.75% at Rs 112 crore vs. Rs 75.8 crore (Bloomberg estimate: Rs 108 crore).

Accelya Solutions India Q4 (Consolidated, QoQ)

• Revenue up 2.5% at Rs 122.5 crore vs Rs 119.48 crore

• Net profit down 11.6% at Rs 32.1 crore vs Rs 36.3 crore

• EBIT up 11.8% at Rs 40.75 crore vs Rs 36.43 crore

• Margins at 33.26% vs 30.49%

Intellect Design Arena Q1 FY24 (Consolidated, QoQ)

• Revenues up 3.8% at Rs 639.3 crore vs Rs 615.5 crore

• Net profit up 2.7% at Rs 93.6 crore vs Rs 91.1 crore

• EBIT up 9.5% at Rs 113.6 crorevs Rs 103.7 crore

• EBIT margins at 17.8% vs 16.8%

Bharat Electronics Q1 FY24 (Consolidated, YoY)

• Revenue up 12.48% at Rs 3,533 crore vs. Rs 3,141 crore (Bloomberg estimate: Rs 3,494 crore).

• Ebitda rises 28.92% to Rs 673 crore vs. Rs 522 crore (Bloomberg estimate: Rs 546.75 crore).

• Ebitda margin at 19.04% vs. 16.6% (Bloomberg estimate: 15.65%).

• Net profit up 47.2% at Rs 539 crore vs. Rs 366 crore (Bloomberg estimate: Rs 498 crore).

Home First Finance Q1 FY24

• Net Profit up 34.9% at Rs 69.1 crore vs. Rs 51.2 crore.

• NII up 30.3% at Rs 110 crore vs. Rs 84.5 crore.

• GNPA at 1.64% vs. 1.61% (QoQ)

• NNPA at 1.14% vs. 1.07% (QoQ).

Indus Towers Q1 FY24 (Consolidated, YoY)

• Revenue up 2.58% at Rs 7,075 crore vs. Rs 6,897 crore (Bloomberg estimate: Rs 6,897 crore).

• Ebitda up 51.29% at 3,512.9 crore vs. Rs 2,321.9 crore (Bloomberg estimate: Rs 3,506.7 crore).

• Ebitda margin at 49.65% vs. 33.66% (Bloomberg estimate: 50.84%)

• Net profit up 182.40% at Rs 1347.9 crore vs. Rs 477.3 crore (Bloomberg estimate: Rs 1,427 crore).

Blue Dart Express Q1 FY24 (Consolidated, YoY)

• Revenue down 4.31% at Rs 1,237.55 crore vs. Rs 1,293.31 crore.

• Net profit down 48.41% at Rs 61.28 crore vs. Rs 118.79 crore.

• Ebitda down 28.64% at Rs 190.67 crore vs. Rs 267.22 crore.

• Margin at 15.40% vs. 20.66%.

Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji and Co. released a pledge of 8 lakh shares on July 25.

Thirumalai Chemicals: Promoter Ramya Bharathram bought 5,100 shares on July 26.

Indiabulls Housing Finance: Societe Generale bought 27.8 lakh shares (0.6%) at Rs 127.96 apiece.

Netweb Technologies: BNP Paribas Arbitrage bought 3.4 lakh shares (0.6%) at Rs 924.13 apiece and Lansforsakringar Asienfond bought 28 lakh shares (5%) at Rs 925.15 apiece.

Aegis Logistics, Anzen India Energy Yield Plus Trust, Atul, Axis Bank, CARE Ratings, Fiem Industries, ICICI Prudential Life Insurance, India Grid Trust, Infobeans Technologies, Intellect Design Arena, JSW Steel, Kokuyo Camlin, K.P.R. Mill, L&T Finance Holdings, Latent View Analytics, M&M Financial Services.

• Price Band Revised From No Band to 20%: Intellect Design Arena

• Ex-Date Dividend: Cosmo First, Elgi Equipments, Equitas Small Finance Bank, Zydus Lifesciences, Indigo Paints, Indian Energy Exchange, TCI Express, Bajaj Electricals, ICRA, Indian Oil Corporation, Tata Motors, Transformers And Rectifiers, Union Bank of India, Sobha, Info Edge (India), Mukand, Rane Holdings, Jtekt India, Galaxy Surfactants, TCPL Packaging, Godrej Agrovet, Sun Pharmaceutical Industries, DLF, Adani Ports and Special Economic Zone, Ugar Sugar Works, Amara Raja Batteries, Alembic Pharmaceuticals, Nesco, Aarti Industries, WPIL.

• Ex-date Interim Dividend: 360 One Wam, Xchanging Solutions.

• Ex-date AGM: Cosmo First, Indigo Paints, TCI Express, Bajaj Electricals, ICRA, Transformers And Rectifiers, Union Bank of India, Mukand, Rane Holdings, Amber Enterprises, TCPL Packaging, Godrej Agrovet, Ugar Sugar Works, VA Tech Wabag, Amara Raja Batteries, Nesco, Delta Corp.

• Ex-date Buyback: Ashiana Housing

• Record-date Dividend: Equitas Small Finance Bank, Zydus Lifesciences, Indian Energy Exchange, Indian Oil Corporation, Sobha, Galaxy Surfactants, Sun Pharmaceutical Industries, DLF, Adani Ports and Special Economic Zone, Alembic Pharmaceuticals, Aarti Industries.

• Record date Interim Dividend: 360 One Wam, Xchanging Solutions.

• Record-date Buyback: Ashiana Housing.

• Move Into Short-Term ASM Framework: Oriental Aromatics, SEPC, Jyothy Labs

• Move Out Of Short-Term ASM Framework: Agarwal Industrial Corporation

Anand Rathi Wealth: To meet investors and analysts on July 31.

• Nifty August futures ended at 19,840, a discount of 49.95 points.  

• Nifty August futures rose 41.78%, with 69,125 shares in open interest.  

• Nifty Bank August futures ended at 46,050, a discount of 185.10 points.  

• Nifty Bank August futures rose 22.38% with 22,969 shares in open interest.  

• Securities in the ban period: Nil

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