Stocks To Watch: HCL Tech, DLF, Zee, Hero MotoCorp, LIC, Biocon, SAIL, HAL, ONGC, Glenmark, Jindal Steel
Here are the stocks to watch before going into trade today.
Asian stocks were headed for a mixed open amid bets that Federal Reserve policy will remain tight to prevent a flare-up in inflation despite signs that price increases are easing.
Contracts for benchmarks in Hong Kong rose while those for Australian equities fell. US equity futures edged higher after the S&P 500 index pared a gain of as much as 1.3% to close little changed on Thursday.
Meanwhile, Brent crude was trading at $86.42 a barrel and West Texas Intermediate was below the $83-mark. The yield on the 10-year U.S. bond was trading at 4.11% and Bitcoin was below 30,000-level.
At 5:58 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 53 points or 0.27% at 19,547.
India's benchmark stock indices traded lower through Thursday after the RBI asked all scheduled banks to maintain an incremental cash reserve ratio while maintaining the status quo on policy rates. Fast-moving consumer goods, followed by banking and financial stocks, fell the most.
The S&P BSE Sensex closed down 308 points, or 0.47%, at 65,688.18, while the NSE Nifty 50 was 90 points, or 0.46%, lower at 19,543.10.
Overseas investors remained net buyers of Indian equities. Foreign portfolio investors mopped up stocks worth Rs 331.22 crore, and domestic institutional investors turned net buyers and bought stocks worth Rs 703.72 crore, according to provisional data from the National Stock Exchange.
The local currency strengthened 10 paise to close at Rs 82.72 against the U.S. dollar. The yield on the 10-year bond closed marginally lower at 7.15%.
Stocks To Watch
HCL Tech: The company has won a $2.1 billion contract from Verizon Communications to manage the networks for the business customers of the U.S.' biggest telecom operator by subscribers. The deal, with a total contract value of $2.1 billion over the next six years, will see Verizon Business lead sales and development, while HCLTech will take care of post-sale network rollout and support.
Adani Enterprises: The company said no such event concerning the media report on the exiting Wilmar venture requires any disclosure.
NBCC India: The company awarded an order for the redevelopment of GPRA Colony at Sarojini Nagar, New Delhi, to Varindera Constructions for a total contract value of Rs 955.8 crore.
DLF, Medanta: The companies entered into a 50:50 joint venture in a special purpose vehicle to set up a 400-bed multi-specialty hospital in Delhi.
SJVN: The company's subsidiary SJVN Green Energy has bagged the 90 MW floating solar project at the Omkareshwar reservoir, Madhya Pradesh. The project cost is Rs 610 crore. It also signed an MoU with ONGC for joint development of renewable energy projects and with Sambhar Salts for the development of a solar project/park in phases.
Zee Entertainment Enterprises: The company's unit, Zee Studios, entered into a share purchase agreement with Elitecast Media to sell Zee Unimedi for Rs 2.4 crore.
Carysil: The company acquired 43,379 square metres of land in Bhavnagar, Gujarat, opposite its existing factory, at a cost of Rs 9.07 crore for future expansion and new projects, if any.
Results Post Market Hours
Hero MotoCorp Q1FY24 (Standalone, YoY)
Revenue up 4% to Rs 8,767.3 crore vs. Rs 8,392.5 crore. (Bloomberg estimate: Rs 8,958 crore.)
Net profit is up 32% at Rs 824.7 crore vs. Rs 624.5 (Bloomberg estimate: Rs 876 crore).
Ebitda up 28% at Rs 1206.2 crore vs. Rs 940.8 crore (Bloomberg Estimate: Rs 1,185 crore).
Margins at 13.8% vs. 11.2% (Bloomberg Estimate: 13.2%)
LIC Q1FY24 (Standalone, YoY)
Net profit is up 1298% to Rs 9,544 crore vs. Rs 683 crore.
Revenue up 12% at Rs 1.89 lakh crore vs. Rs 1.69 lakh crore (BBG estimate: Rs 1.28 lakh crore).
VNB is down 7% at Rs 1,302 crore vs. Rs 1,397 crore.
VNB margin at 13.7% versus 13.6%
Biocon Q1FY24 (Consolidated, YoY)
Revenues are up 60% at Rs 3,423 crore vs. Rs 2,140 crore (Bloomberg Estimate: Rs 3,355 crore).
Net profit is down 30% at Rs 101 crore vs. Rs 144 crore (Bloomberg Estimate: Rs 157 crore).
Ebitda up 79% at Rs 714 crore vs. Rs 399 crore (Bloomberg Estimate: Rs 829 crore).
Margins at 20.9% vs. 18.7% (Bloomberg Estimate: 24.7%)
Container Corp. Q1 FY23 (Consolidated, YoY)
Revenue fell 3.5% to Rs 1,923 crore from Rs 1,994 crore.
Ebitda fell 17% to Rs 395.82 crore from Rs 478.81 crore.
Ebitda margin: 20.6% vs. 24%
Net profit fell 17% to Rs 245.19 crore vs. Rs 296.83 crore (Bloomberg estimate: Rs 301 crore).
Mazagon Dock Shipbuilders Q1FY2024 (Consolidated, YoY)
Revenue down 2.58% to Rs 2,172.76 crore vs. Rs 2,230.32 crore.
Ebitda down 1.14% at Rs 171.69 crore vs. Rs 173.68 crore.
Margins at 7.9% vs. 7.78%
Net profit is up 39.84% at Rs 314.34 crore vs. Rs 224.78 crore.
Sanofi India Q2CY2023 (Consolidated, YoY)
Revenue down 51.05% at Rs 706.1 crore vs. Rs 1,442.6 crore.
Ebitda down 56.33% at Rs 178.2 crore vs. Rs 408.1 crore.
Margins at 25.23% vs. 28.2%
Net profit is down 60.77% at Rs 122.9 crore vs. Rs 313.3 crore.
NCC Q1FY2024 (Consolidated, YoY)
Revenues are up 31.88% at Rs 4,380.39 crore vs. Rs 3,321.35 crore.
Ebitda up 32.91% at Rs 409.21 crore vs. Rs 307.87 crore.
Margins at 9.34% vs. 9.26%
Net profit is up 33.57% at Rs 174.36 crore vs. Rs 130.54 crore.
Chemplast Sanmar Q1FY2024 (Consolidated, YoY)
Revenues are down 29.39% at Rs 996.41 crore vs. Rs 1,411.3 crore.
Net loss of Rs 63.97 crore vs. net Profit of Rs 40.59 crore
Ebitda loss of Rs 34.52 crore vs. ebitda of Rs 194.14 crore
Steel Authority of India Q1FY2024 (Consolidated, YoY)
Revenue up 1% at Rs 24,359.10 crore vs. Rs 24,028.62 crore (Bloomberg estimate: Rs 23,607.5 crore).
Net profit is down 74% at Rs 212.48 crore vs. Rs 804.5 crore (Bloomberg estimate: Net loss of Rs 67.27 crore).
Ebitda down 28% at Rs 1,648.82 crore vs. Rs 2,301.55 crore (Bloomberg estimate: Rs 1.518.60 crore).
Ebitda margin at 6.8% vs. 9.6% (Bloomberg estimate: 6.4%).
MTAR Technologies Q1FY2024 (Consolidated, YoY)
Revenue up 67.6% at Rs 152.56 crore vs. Rs 91.01 crore.
Ebitda up 38.3% at Rs 34.52 crore vs. Rs 24.95 crore.
Ebitda margins at 22.63% vs. 27.42%
Net profit is up 25.4% at Rs 20.34 crore vs. Rs 16.22 crore.
Kirloskar Oil Engines Q1FY2024 (Consolidated, YoY)
Revenue up 29.5% at Rs 1,543.37 crore vs. Rs 1,191.41 crore.
Ebitda up 52.7% at Rs 264.18 crore vs. Rs 173.03 crore.
Ebitda margins at 17.12% vs. 14.52%
Net profit is up 53% at Rs 125.53 crore vs. Rs 82.06 crore.
Apollo Micro Systems Q1FY2024 (Consolidated, YoY)
Revenue up 2.5% at Rs 57.69 crore vs. Rs 56.27 crore.
Ebitda up 28.8% at Rs 12.74 crore vs. Rs 9.89 crore.
Ebitda margins at 22.09% vs. 17.58%
Net profit is up 1% at Rs 1.65 crore vs. Rs 1.64 crore.
Oriental Aromatics Q1FY2024 (Consolidated, YoY)
Revenue down 16.2% at Rs 195.69 crore vs. Rs 233.55 crore.
Ebitda down 94.4% at Rs 0.92 crore vs. Rs 16.42 crore.
Ebitda margins at 0.47% vs. 7.03%
Net loss of Rs 6.05 crore vs. net profit of Rs 8.41 crore
Torrent Power Q1FY2024 (Consolidated, YoY)
Revenue up 12.6% at Rs 7,327.62 crore vs. Rs 6,510.31 crore. (Bloomberg Estimate: Rs 7,033 crore)
Ebitda up 11.7% at Rs 1,184.78 crore vs. Rs 1,060.42 crore. (Bloomberg Estimate: Rs 1,289.77 crore)
Ebitda margins at 16.17% vs. 16.29% (Bloomberg Estimate: 17.40%)
Net profit is up 6% at Rs 532.28 crore vs. Rs 502.01 crore. (Bloomberg Estimate: Rs 592.50 crore)
NBCC India Q1FY2024 (Consolidated, YoY)
Revenue up 6.6% at Rs 1,917.87 crore vs. Rs 1,799 crore.
Ebitda up 9.1% at Rs 57.16 crore vs. Rs 52.37 crore.
Ebitda margins at 2.98% vs. 2.91%
Net profit of Rs 77.41 crore vs. net loss of Rs 4.85 crore
Ashoka Buildcon Q1FY2024 (Consolidated, YoY)
Revenue up 3% at Rs 1,935.16 crore vs. Rs 1,879.38 crore.
Ebitda down 2.4% at Rs 473.30 crore vs. Rs 484.78 crore.
Ebitda margins at 24.46% vs. 25.79%
Net profit is down 46.5% at Rs 71.98 crore vs. Rs 134.66 crore.
Paramount Communications Q1FY2024 (Consolidated, YoY)
Revenue up 28.6% at Rs 210.54 crore vs. Rs 163.73 crore.
Ebitda up 2.15 times at Rs 16.78 crore vs. Rs 7.79 crore.
Ebitda margins at 7.97% vs. 4.76%
Net profit is up 2.06 times at Rs 14.53 crore vs. Rs 7.03 crore.
Global Health Q1FY2024 (Consolidated, YoY)
Revenue up 25.2% at Rs 773.04 crore vs. Rs 617.45 crore.
Ebitda up 34.2% at Rs 177.88 crore vs. Rs 132.55 crore.
Ebitda margins at 23.01% vs. 21.47%
Net profit is up 73.7% at Rs 102.01 crore vs. Rs 58.71 crore.
HealthCare Global Enterprises Q1FY2024 (Consolidated, YoY)
Revenue up 12.9% at Rs 459.71 crore vs. Rs 407.31 crore.
Ebitda up 2.7% at Rs 73.34 crore vs. Rs 71.42 crore.
Ebitda margins at 15.95% vs. 17.53%
Net profit is up 47.2% at Rs 3.65 crore vs. Rs 2.48 crore.
G R Infraprojects Q1FY2024 (Consolidated, YoY)
Revenue down 7.9% at Rs 2,478.23 crore vs. Rs 2,692.15 crore.
Ebitda down 11.6% at Rs 607.36 crore vs. Rs 687.04 crore.
Ebitda margins at 24.51% vs. 25.52%
Net profit is down 23.5% at Rs 309.84 crore vs. Rs 404.86 crore.
BMW Industries Q1FY2024 (Consolidated, YoY)
Revenue up 16.1% at Rs 157.52 crore vs. Rs 135.68 crore.
Ebitda up 36.9% at Rs 36.69 crore vs. Rs 26.79 crore.
Ebitda margins at 23.29% vs. 19.75%
Net profit is up 80.5% at Rs 15.57 crore vs. Rs 8.63 crore.
Orchid Pharma Q1FY2024 (Consolidated, YoY)
Revenue up 39.6% at Rs 182.92 crore vs. Rs 130.99 crore.
Ebitda up 77.9% at Rs 22.14 crore vs. Rs 12.45 crore.
Ebitda margins at 12.10% vs. 9.50%
Net profit of Rs 9.40 crore vs. net loss of Rs 15.01 crore
Dollar Industries Q1FY2023 (Consolidated, YoY)
Revenue down 9.2% at Rs 328.24 crore vs. Rs 361.67 crore.
Ebitda down 27.2% at Rs 27.11 crore vs. Rs 37.22 crore.
Ebitda margins at 8.6% vs. 10.26%
Net profit is down 43.9% at Rs 15.13 crore vs. Rs 26.97 crore.
Ugar Sugar Works Q1FY2024 (Consolidated, YoY)
Revenue down 41.6% at Rs 217.67 crore vs. Rs 372.78 crore.
Ebitda down 75% at Rs 6.12 crore vs. Rs 24.46 crore.
Ebitda margins at 2.81% vs. 6.56%
Net loss of Rs 9.14 crore vs. net profit of Rs 5.74 crore
Earnings In Focus
Nykaa, ABB India, Apollo Hospitals Enterprises, Astral, Glenmark Pharmaceuticals, Godrej Industries, Hindustan Aeronautics, Indian Railway Finance Corporation, Jindal Saw, Jindal Steel & Power, National Aluminimum Company, ONGC, Patanjali Foods, Pfizer, Voltas, Archean Chemical Industries, Abans Holdings, Cochin Shipyard, City Union Bank, DB Realty, Elgi Equipments, Orient Green Power Company, Marksans Pharma, MTNL, Info Edge (India), SpiceJet, The New India Assurance Company, NHPC, NMDC, PNC Infratech, Shree Renuka Sugars, Timken India, TV Today Network, Uttam Sugar Mills, Bombay Burmah Trading Corp, BF Investment, Camlin Fine Sciences, Capacite Infraprojects, Carysil, Electronics Mart India, Galaxy Surfactants, GE Power India, GOCL Corporation, TTK Prestige, Gufic Biosciences, HBL Power Systems, HEG, Hi-Tech Pipes, Hindustan Foods, ISGEC Heavy Engineering, ITI, Kennametal India, Shakti Pumps (India), Vinati Organics, Zydus Lifesciences, Raymond, Power Finance Corp, Muthoot Finance, Kalpataru Projects Internation, Jamna Auto Industries, Sun TV Network.
IPO Offerings
TVS Supply Chain Solutions: On its first day, the IPO was subscribed 0.55 times, or 55%. The bids were led by retail investors, who subscribed 1.72 times, non-institutional investors, who subscribed 0.69 times, or 69%, and institutional investors, who subscribed 0.08 times, or 8%.
Bulk Deals
Tata Motors: Citibank NA sold 3.5 crore shares (1%) at Rs 598.77 apiece.
CMS Info Systems: Sion Investment Holdings sold three crore shares (19.4%) at Rs 357.17 apiece. Nomura India Investment Fund bought 43 lakh shares (2.8%) at Rs 356 apiece; Bonanza Commodity Brokers bought 27.2 lakh shares (1.7%) at Rs 360.49 apiece; Massachusetts Institute of Technology bought 26.5 lakh shares (1.7%) at Rs 356 apiece; ICICI Prudential MF bought 14 lakh shares (0.9%) at Rs 356 apiece; Nomura Funds Ireland Public bought 12 lakh shares (0.8%) at Rs 356 apiece; Goldman Sachs India Fund bought 11.9 lakh shares (0.8%) at Rs 356 apiece; Abu Dhabi Investment Authority bought 11.2 lakh shares (0.7%) at Rs 356 apiece, among others.
Piramal Pharma (RE): LIC sold 16.6 lakh shares at Rs 15.65 apiece, and BNP Paribas bought 8.4 lakh shares at Rs 16.09 apiece.
Dreamfolks Services: Aditya Birla Sun Life MF sold 4.5 lakh shares (0.8%) at Rs 577.06 apiece.
KPR Mill: KPR Developers sold 18 lakh shares (0.5%) at Rs 634 apiece.Tata Motors: Citibank NA sold 3.5 crore shares (1%) at Rs 598.77 apiece.
Insider Trades
Refex Industries: Promoter Sherisha Technologies bought 28,300 shares on Aug. 9.
Zydus Wellness: Promoter Zydus Family Trust bought 52,285 shares on Aug. 8.
Ultramarine & Pigments: Promoters S Narayanan and Daya Sridhar sold 15,000 shares and 20,453 shares, respectively, on Aug. 9.
Pledge Share Details
Centrum Capital: Promoter Business Match Services created a pledge of 48 lakh shares on Aug. 8 and released a pledge of 20 lakh shares on Aug. 9.
AGMs Today
Aditya Birla Sun Life AMC, Andhra Paper, Apar Industries, Astral, Avanti Feeds, Berger Paints, Biocon, Chemplast Sanmar, Dalmia Bharat Sugar and Industries, EPL, Godrej Industries, HDFC Bank, Ingersoll-Rand, ITC, JK Cement, Jtekt India, Marico, MTAR Technologies, Mukand, Sapphire Foods India, Sterlite Technologies, Sudarshan Chemicals, Ultratech Cement, Vishnu Chemicals, Zydus Lifesciences.
Who's Meeting Whom
Sheela Foam: To meet investors and analysts from Aug. 16 till Aug. 18.
Trading Tweaks
Ex-date Dividend: CCL Products, Tinplate Company of India, Federal Bank, Bandhan Bank, Bharti Airtel, Bharat Heavy Electricals, BPCL, City Union Bank, Divi’s Laboratories, Endurance Technologies, Godfrey Phillips India, Grasim Industries, JK Lakshmi Cement, Kolte-Patil Developers, Kovai Medical Centre & Hospital, Kalyani Steels, Dr. Lal PathLabs, Samvardhana Motherson International, NTPC, Pfizer, PI Industries, Pitti Engineering, Uniphos Enterprises, Wonderla Holidays, Indo Count Industries
Ex-date Interim Dividend: Balkrishna Industries
Ex-date Amalgamation: Max Ventures and Industries
Ex-date AGM: Tinplate Company of India, Federal Bank, Balrampur Chini Mills, Bharti Airtel, Grasim Industries, Kolte-Patil Developers, JK Lakshmi Cement, Kovai Medical Centre & Hospital, Uniphos Enterprises, PI Industries, Kalyani Steels, Godfrey Phillips India, Indo Count Industries, Pitti Engineering, Bandhan Bank, Endurance Technologies, Samvardhana Motherson International
Record-date Dividend: CCL Products, Bharti Airtel, Bharat Heavy Electricals, BPCL, City Union Bank, Divi’s Laboratories, Kovai Medical Centre & Hospital, Dr. Lal PathLabs, NTPC, Pfizer, PI Industries, Wonderla Holidays
Record-date Amalgamation: Max Ventures and Industries
Move Into Short-Term ASM Framework: Gland Pharma, Orient Cement, Rattanindia Enterprises
Move Out of the Short-Term ASM Framework: Dilip Buildcon, Jain Irrigation Systems, and Orient Green Power
F&O Cues
Nifty August futures ended at 19,599.00, a discount of 90.60 points.
Nifty August futures fell 1.11%, with 2,452 shares in open interest.
Nifty Bank August futures ended at 44,751.10, a discount of 279.35 points.
Nifty Bank August futures rose 12.26% with 13,677 shares in open interest.
Securities in the ban period: Hindustan Copper, Indianbulls Housing Finance, Balrampur Chini Mills, Delta Corp., Chambal Fertilisers & Chemicals, Zee Entertainment Enterprises, Manappuram Finance, Granules India. Can Fin Homes.
Disclaimer: AMG Media Networks Ltd. owns a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime Brand.
