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Stocks To Watch: Tata Motors, Asian Paints, Union Bank Of India, Can Fin Homes, L&T, Piramal

Here are the stocks to watch before going into trade today.

26 Jul 2023, 07:51 AM IST
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Asian markets are likely to be subdued on Wednesday as investors await the Federal Reserve’s rate decision, with equity futures for the region mixed and currencies holding to narrow ranges in early trading.

Contracts for Japanese shares were flat, those for Australia rose slightly and futures for Hong Kong showed a small decline.

Stocks on Wall Street and commodities rose Tuesday as the Conference Board’s U.S. consumer confidence index climbed to a two-year high. The S&P 500 closed at its highest since April 2022, the Nasdaq 100 outperformed and the Dow Jones Industrial Average saw its 12th straight advance — the longest winning run in over six years.

Meanwhile, Brent crude was above $83 a barrel and West Texas Intermediate was below the $80-mark. The yield on the 10-year U.S. bond was trading at 3.88% and Bitcoin was below 30,000-level.

At 5:25 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 0.24% or 48 points at 19,735.

India's benchmark stock indices were little changed after swinging between gains and losses through Tuesday. The indices ended mixed after two days of fall. Metals and energy sectors advanced, while fast-moving consumer goods and PSU banks were under pressure.

Overseas investors in Indian equities turned net buyers on Tuesday. Foreign portfolio investors mopped up stocks worth Rs 1,088.76 crore, according to data from the National Stock Exchange. Domestic institutional investors turned net sellers and offloaded stocks worth Rs 333.7 crore, the NSE data showed.

The local currency weakened 4 paise to close at 81.87 against the U.S. dollar on Tuesday.

Stocks To Watch: Tata Motors, Asian Paints, Union Bank Of India, Can Fin Homes, L&T, Piramal

Stocks To Watch

  • Tata Motors: The automaker's board approved NCLT scheme of arrangement for cancellation of 'A' Ordinary Shares or DVR shares. It will cancel DVR shares and issue ordinary shares. The DVR shareholders to receive 7 ordinary shares for every 10 DVR shares held. The shareholding of promoter and promoter group willdecline by 3.16% post DVR swap.

  • Asian Paints: The paints maker appointed R Seshasayee as Chairman from October 1, 2023 to January 22, 2027. R Seshasayee is currently an Independent Director of the company.

  • Union Bank of India: The lender has entered into a strategic partnership with IBM to act as System Integrator in its digital push. The bank has embarked on Project Sambhav to create a Digital Bank

  • Can Fin Homes: The company reported a fraud of Rs 38.53 crore committed by employees at its Ambala branch. The fraud involved transfer of funds to different personal bank accounts by misusing the cheque signing authority. The company has lodged an FIR and said it estimates no impact on assets/asset quality.

  • Piramal Enterprises: The board will consider a share buyback proposal on July 28.

  • Larsen & Toubro: The conglomerate has agreed to buy back 3.33 crore shares, equal to 2.4% equity capital, at a maximum price of Rs 3,000 per share aggregating up to Rs 10,000 crore. Retail investors hold about 21.78%  and L&T Employees Trust holds 13.70%.The company has made an additional investment of up to Rs 506 crore in its unit L&T Energy Green Tech. The conglomerate also inked pact to acquire entire 40% shareholding held by Sapura Nautical Power in joint venture L&T Sapura Offshore.

Earnings Post Market Hours 

  • Dixon Technologies Q1FY2024 (Consolidated, YoY)

    • Revenues up 15% to Rs 3,271.50 crore vs Rs 2,855.07 crore. ( Bloomberg Estimate: Rs 3,240 crore)

    • Net profit up 48% to Rs 67.19 crore vs Rs 45.43 crore. (Bloomberg Estimate: Rs 72 crore)

    • Ebitda up 32% at Rs 131.87 crore vs Rs 100.12 crore. (Bloomberg Estimate: Rs 153 crore)

    • Ebitda margin at 4% vs 3.5%. (Bloomberg Estimate: 4.7%)U.S. stocks were trading muted as traders awaited earnings from technology megacaps and Wednesday’s Federal Reserve decision, Bloomberg reported.

  • Tata Motors Q1FY24 Results (Consolidated, YoY)

    • Revenues up 42% at Rs 1,02,236 cr vs Rs 71,935 cr (Bloomberg Estimate Rs 1,01,290 cr)

    • EBIDTA up 448% at Rs 13,218 cr vs Rs 2,413 cr (Bloomberg Estimate Rs 11,965 cr)

    • EBIDTA margins at 12.9% vs 3.4% (Bloomberg estimate 11.8%)

    • Net profit at Rs 3,203 cr vs Net loss of Rs 5,007 cr (Bloomberg Estimate Rs 2,552 cr)

  • SBI Life Insurance Q1FY24 (Consolidated, YoY)

    • Revenue up 497% at Rs 27,692 crore Vs Rs 4,641 crore (BBG estimate: Rs 19,068 crore)

    • Net profit up 45% to Rs 381 crore Vs Rs 263 crore (BBG estimate: Rs 347 crore)

    • VNB down 1% at Rs 870 crore Vs Rs 880 crore

    • VNB margin at 28.8% Vs 30.4%

  • Amber Enterprises Q1 FY2024 (Consolidated, YoY)

    • Revenues down 7% at Rs 1,701.99 crore vs Rs 1,825.73 crore. (Bloomberg Estimate: Rs 1,910.2 crore)

    • Net profit up 9% at Rs Rs 46.61 crore vs Rs 42.89 crore. ( Bloomberg Estimate: Rs 42 crore)

    • Ebitda up 33% at Rs 131.92 crore vs Rs 99.24 crore. (Bloomberg Estimate: Rs 120 crore)

    • Ebitda margin at 7.8% vs 5.4%. (Bloomberg Estimate: 6.3%)

  • CEAT Q1FY2024 (Consolidated, YoY)

    • Revenues up 4% at Rs 2,935.17 crore vs Rs 2,818.38 crore. (Bloomberg Estimate: Rs 2,940 crore )

    • Net profit at Rs 144.01 crore vs Rs 8.68 crore. (Bloomberg Estimate: Rs 125 crore)

    • Ebitda at Rs 387.10 crore vs Rs 165.26 crore. (Bloomberg Estimate: Rs 350 crore)

    • Ebitda margin at 13.2% vs 5.9%. (Bloomberg Estimate: 12%)

  • UTI Asset Management Company Q1 FY24 (Standalone, YoY)

    • Revenue up 59.72% at Rs 468 crore vs 293 crore (Bloomberg Estimate: Rs 295.4 crore)

    • Ebitda up 195% at Rs 301 crore vs 102 crore

    • Ebitda margin at 64.31% vs 34.81%

    • Net Profit up 154.34% at Rs 234 crore vs 92 crore . (Bloomberg Estimate: Rs 118 crore)

  • Delta Corp Q1FY2024 (Consolidated, YoY)

    • Revenues up 9% at Rs 272.80 crore vs Rs 250.27 crore.

    • Net profit up 19% at Rs 67.91 crore vs Rs 57.13 crore.

    • Ebitda at Rs 95.82 crore vs Rs 87.5 crore.

    • Ebitda margin at 35.1% vs 35%.

  • Dixon Technologies Q1FY2024 (Consolidated, YoY)

    • Revenues up 15% to Rs 3,271.50 crore vs Rs 2,855.07 crore. ( Bloomberg Estimate: Rs 3,240 crore)

    • Net profit up 48% to Rs 67.19 crore vs Rs 45.43 crore. (Bloomberg Estimate: Rs 72 crore)

    • Ebitda up 32% at Rs 131.87 crore vs Rs 100.12 crore. (Bloomberg Estimate: Rs 153 crore)

    • Ebitda margin at 4% vs 3.5%. (Bloomberg Estimate: 4.7%)

  • RattanIndia Power Q1FY2024 (Consolidated, YoY)

    • Revenue up 1% at Rs 847.27 crore vs Rs 842.79 crore.

    • Net loss at Rs 549.36 crore vs Rs 389.3 crore.

    • Ebitda down 28% at Rs 156.75 crore vs Rs 219.17 crore.

    • Ebitda margin ar 18.5% vs 26%.

  • Cyient Q1FY2024 (Standalone, QoQ)

    • Revenue down 3.7% at Rs 1,686.5 crore vs Rs 1,751.4 crore. (Bloomberg Estimate: Rs 1,713.6 crore)

    • Net profit up 3.6% at Rs 169.1 crore vs Rs 163.2 crore. (Bloomberg Estimate: Rs 170 crore)

    • EBIT at Rs 248 crore vs Rs 249.4 crore.

    • EBIT margin 14.7% vs 14.2%.

  • Mindspace Business Parks REIT Q1FY2024 (Consolidated, YoY)

    • Revenues up 23% at Rs 589.9 crore vs Rs 480.7 crore. (Bloomberg Estimate: Rs 566.7 crore)

    • Net profit at Rs 136.9 crore vs Rs 128.4 crore. (Bloomberg Estimate: Rs 107.6 crore)

    • Ebitda at Rs 424.1 crore vs Rs 360.7 crore. (Bloomberg Estimate: Rs 313 crore)

    • Ebitda margin at 72% vs 75%. (Bloomberg Estimate: 55.2%)

Earnings In Focus 

Aditya Birla Sun Life AMC, Aegis Logistics, Aether Industries, Axis Bank, Bajaj Finance, BPCL, Cipla, Colgate-Palmolive, Dr Reddy's Laboratories, Embassy Office Parks REIT, Deepak Fertilisers and Petrochemicals, Fine Organic Industries, Glaxosmithkline Pharma, Godfrey Phillips, HFCL, ISMT, ION Exchange, Jindal Stainless, Kajaria Ceramics, Vedant Fashions, Novartis India, Oracle Financial Services Software, Punjab National Bank, Praj Industries, REC, Schaeffler India, Shree Cement, Syngene International, Tata Consumer Products, Tech Mahindra.

IPO Offering: Yatharth Hospital and Trauma Care Services

Yatharth Hospital raised Rs 206 crore from anchor investors ahead of IPO. It allocated 68.6 lakh shares at Rs 300 apiece. ICICI Prudential, HDFC Mutual Fund, SBI Life, Nippon Life, Aditya Birla Sun Life, BNP Paribas, HSBC and Goldman Sachs are among the major investors.

Who's Meeting Whom?

  • eMudhra: To meet investors and analysts on July 31.

  • Chalet Hotels: To meet investors and analysts on July 31.
    Star Health and Allied Insurance: To meet investors and analysts on July 28.
    UltraTech Cement: To meet investors and analysts on July 26. 
    NOCIL: To meet investors and analysts on Aug. 1.

  • Vardhman Special Steels: To meet investors and analysts on Aug. 3. 
    Minda Corporation: To meet investors and analysts on Aug. 3. 

  • Westlife Foodworld: To meet investors and analysts on July 27. 
    Godawari Power and ISPAT: To meet investors and analysts on July 28. 

  • Bharat Electronics: To meet investors and analysts on July 28.
    State Bank of India: To meet investors and analysts on Aug. 4. 

  • Firstsource Solutions: To meet investors and analysts on Aug. 3. 

  • Quick Heal Technologies: To meet investors and analysts on July 28.

  • ICICI Prudential Life Insurance Co: To meet investors and analysts on Aug. 3. 

  • Escorts Kubota: To meet investors and analysts on Aug. 1. 

  • RailTel Corporation of India: To meet investors and analysts on July 28. 

AGMs Today

Archean Chemical Industries, Avadh Sugar & Energy, Bajaj Finance, BCPL Railway Infrastructure, John Cockerill India, GlaxoSmithKline Pharmaceuticals, Indian Metals and Ferro Alloys, IRB InvIT Fund, Jenburkt Pharmaceuticals, Mahindra EPC Irrigation, Mahindra Lifespace Developers, MAS Financial Services, Nuvoco Vistas Corporation, Praj Industries, Precision Camshafts, Rane (Madras), R.S. Software, Sasken Technologies, Shanthi Technologies, Shanthi Gears, Shree Cement, Shriram Asset Management, Syngene International, Union Quality Plastics.

Bulk Deals 

  • Gensol Engineering: Wellray Solar Industries sold two lakh shares (1.6%) at Rs 1,415.97 apiece.

  • SG Finserve: Ankur Singhal sold 2.5 lakh shares (0.6%) at Rs 562.11 apiece.

  • Inox Green Energy Services: Authum Investment and Infrastructure sold 15 lakh shares (0.5%) at Rs 63.6 apiece.

Trading Tweaks

  • Ex-Date Dividend: Goodyear India, Tube Investments of India, Orient Electric, Gujarat Pipavav Port, Cummins India, 3M India

  • Ex-date AGM: Eveready Industries India, Goodyear India, Tube Investments of India, Orient Electric, Gujarat Pipavav Port, Cummins India, Firstsource Solutions

  • Record-Date Dividend: 3M India, Cummins India

  • Move Into Short-Term ASM Framework: Heritage Foods, Dodla Dairy, Jagran Prakashan

  • Move Out Of Short-Term ASM Framework: PIX Transmissions, Beekay Steel Industries

F&O Cues 

  • Nifty July futures ended at 19,695, a premium of 2.30 points.  

  • Nifty July futures fell 21.80%, with 37,380 shares in open interest.  

  • Nifty Bank July futures ended at 45,929.75, a discount of 50.30 points.  

  • Nifty Bank July futures fell 21.52% with 24,564 shares in open interest.  

  • Securities in the ban period: Delta Corp, Indiabulls Housing Finance, Canara Bank, RBL Bank, Sun TV.

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