Stocks To Watch: GAIL, KEC International, PNB, Marico, ITC, Piramal Enterprises, Bajaj Finance, Vodafone Idea
Here are the stocks to watch before going into trade today.
GAIL Ltd., KEC International Ltd. and Punjab National Bank will be among the companies in focus on Tuesday.
GAIL signed a long-term purchase agreement with Abu Dhabi National Oil Co. for the purchase of 0.5 million metric tonne per annum of LNG. KEC International has secured orders worth Rs 1,304 crore across various businesses.
Punjab National Bank approved raising funds up to Rs 7,500 crore in FY25 via qualified institutional placements, further public offers, or other modes. The shareholding of the government remains above 52%.
Companies like Marico Ltd., ITC Ltd., Piramal Enterprises Ltd., and Bajaj Finance Ltd. will be among the stocks to watch as they have reported their earnings for the quarter ended December.
Share indices in Japan and South Korea were trading higher in early trade on Tuesday as U.S. Treasury yields softened following a cut in this quarter's borrowing level.
Nikkei 225 was 157.59 points or 0.44% higher at 36,184.53, while the KOSPI was trading 22.54 points or 0.90% higher at 2,523.19 as of 6:23 a.m.
Indices in Australia also rose with the S&P ASX 200 42.80 points, or 0.56%, higher at 7,621.20 as of 6:24 a.m.
In China, concerns rose after a Hong Kong court ordered to liquidate Evergrande Group whose most assets are located in mainland China, reported Bloomberg.
The rally that has pushed U.S. stocks deeper into a record lost a bit of its luster, with traders bracing for a deluge of earnings and updates on the outlook for interest rates that will likely drive the direction of markets over the next few months, Bloomberg reported.
The S&P 500 index and Nasdaq 100 rose by 0.76% and 1.01%, respectively, as of Monday. The Dow Jones Industrial Average gained by 0.59%.
Brent crude was trading 1.15% lower at $82.40 a barrel. Gold was higher by 0.02% at $2,033.55 an ounce.
Indian equity benchmark indices ended the first day of the week with their biggest single-day gains since Dec. 4, with index heavyweight Reliance Industries Ltd. contributing the most to the gains.
The Nifty 50 ended 385 points, or 1.80%, higher at 21,737.60, and the Sensex rose 1,240.90 points, or 1.76%, to end at 71,941.57.
Overseas investors turned net buyers of Indian equities on Monday after seven consecutive sessions. Foreign portfolio investors mopped up equities worth Rs 110 crore, while domestic institutional investors remained net buyers and bought equities worth Rs 3,221.3 crore, the NSE data showed.
The Indian rupee weakened by 3 paise to Rs 83.14 against the U.S. dollar.
Earnings Post Market Hours
Piramal Enterprises Q3 FY24 (Standalone, YoY)
Revenue down 83.11% at Rs 635.95 crore vs Rs 3,763.21 crore (Bloomberg estimate: Rs 994.3 crore).
Net loss at Rs 1,059.53 crore vs profit of Rs 2,892.2 crore (Bloomberg estimate: Profit of Rs 151.6 crore).
Gross NPA at 2.4% vs 2.74% (QoQ).
One-time hit of Rs 1,677 crore on AIF provisions.
Company had other operating income of Rs 2,857.4 crore in Q3 FY23.
Heritage Foods Q3 FY24 (Consolidated, YoY)
Revenue up 19.74% at Rs 941.1 crore vs Rs 785.9 crore (Bloomberg estimate: Rs 913.6 crore).
Ebitda up 60.18% at Rs 51.9 crore vs Rs 32.4 crore (Bloomberg estimate: Rs 56.8 crore).
Margin up 139 bps at 5.51% vs 4.12% (Bloomberg estimate: 6.2%).
Net profit up 96.35% at Rs 26.9 crore vs Rs 13.7 crore (Bloomberg estimate: Rs 26.3 crore).
Marico Q3 FY24 (Consolidated, YoY)
Revenue down 1.95% at Rs 2,422 crore vs Rs 2,470 crore (Bloomberg estimate: Rs 2,473 crore).
Ebitda up 12.5% at Rs 513 crore vs Rs 456 crore (Bloomberg estimate: Rs 514 crore).
Margin up 271 bps at 21.18% vs 18.46% (Bloomberg estimate: 20.8%).
Net profit up 15.91% at Rs 386 crore vs Rs 333 crore (Bloomberg estimate: Rs 367.7 crore).
Restaurant Brands Asia Q3 FY24 (Consolidated, YoY)
Revenue up 14.8% at Rs 604.2 crore vs Rs 526.3 crore (Bloomberg estimate: Rs 656.5 crore).
Ebitda up 130.8% at Rs 68.3 crore vs Rs 29.6 crore (Bloomberg estimate: Rs 63.1 crore).
Margin up 568 bps at 11.3% vs 5.62% (Bloomberg estimate: 9.6%).
Net loss at Rs 39.9 crore vs loss of Rs 55.9 crore (Bloomberg estimate: Rs -41.5 crore).
Bajaj Finance Q3 FY24 (Standalone, YoY)
NII up 30.4% at Rs 6,973 crore vs Rs 5,347 crore.
Net profit up 21.1% at Rs 3,177.4 crore vs Rs 2,624.2 crore (Bloomberg estimate: Rs 3,576 crore).
Gross NPA at 1.18% vs 1.14% (QoQ).
Net NPA at 0.46% vs 0.39% (QoQ).
Indo Count Industries Q3 FY24 (Consolidated, YoY)
Revenue up 8.5% at Rs 713.4 crore vs Rs 657.3 crore (Bloomberg estimate: Rs 918.5 crore).
Ebitda up 42.1% at Rs 104.2 crore vs Rs 73.3 crore (Bloomberg estimate: Rs 163 crore).
Margin up 54.1% at 14.6% vs 11.15%, up 345 bps (Bloomberg estimate: 17.7%).
Net profit up 54.1% at Rs 58.1 crore vs Rs 37.7 crore (Bloomberg estimate: Rs 91.9 crore).
Garware Technical Fibres Q3 FY24 (Consolidated, YoY)
Revenue up 5.4% at Rs 289.4 crore vs Rs 274.6 crore.
Ebitda up 13.4% at Rs 53.48 crore vs Rs 47.15 crore.
Margin up 130 bps at 18.48% vs 17.17%.
Net profit up 18.3% at Rs 43.27 crore vs Rs 36.58 crore.
Petronet LNG Q3 FY24 (Consolidated, QoQ)
Revenue up 17.7% at Rs 14,747.2 crore vs Rs 12,532.6 crore.
Ebitda up 40.4% at Rs 1,705.4 crore vs Rs 1,214.7 crore.
Margin up 187 bps at 11.56% vs 9.69%.
Net profit up 41.7% at Rs 1,213 crore vs Rs 855.7 crore.
Mahindra Logistics Q3 FY24 (Consolidated, YoY)
Revenue up 5.1% at Rs 1,397.2 crore vs Rs 1,329.6 crore (Bloomberg estimate: Rs 1,446.6 crore).
Ebitda down 16.8% at Rs 52.2 crore vs Rs 62.7 crore (Bloomberg estimate: Rs 68.5 crore).
Margin down 98 bps at 3.73% vs 4.71% (Bloomberg estimate: 4.7%).
Net loss at Rs 17.4 crore vs profit of Rs 1.4 crore (Bloomberg estimate: Profit of Rs 4.2 crore).
Nippon Life India AMC Q3 FY24 (Standalone, YoY)
Revenue up 18.74% at Rs 392.32 crore vs Rs 330.39 crore.
Net profit up 33.34% at Rs 264.92 crore vs Rs 198.67 crore.
Total income up 24.8% at Rs 485.3 crore vs Rs 388.9 crore.
Aditya Birla Sun Life AMC Q3 FY24 (Standalone, YoY)
Revenue up 8.8% at Rs 335.8 crore vs Rs 308.7 crore.
Net profit up 26.4% at Rs 208.5 crore vs Rs 165 crore (Bloomberg estimate: Rs 170.70 crore).
Vodafone Idea Q3 FY24 (Consolidated, QoQ)
Revenue down 0.4% at Rs 10,673.1 crore vs Rs 10,716.3 crore (Bloomberg estimate: Rs 10,957.7 crore).
Ebitda up 1.6% at Rs 4,350.4 crore vs Rs 4,282.8 crore (Bloomberg estimate: Rs 4,233 crore).
Margin up 79 bps at 40.76% vs 39.96% (Bloomberg estimate: 38.6%).
Net loss at Rs 6,986 crore vs loss of Rs 8,738 crore (Bloomberg estimate: Loss of Rs 7,398.4 crore).
ITC Q3 FY24 (Standalone, YoY)
Revenue up 2.2% at Rs 16,483.25 crore vs Rs 16,225.73 crore (Bloomberg estimate: Rs 17,132.17 crore).
Ebitda down 3.2% at Rs 6,024.29 crore vs Rs 6,223.22 crore (Bloomberg estimate: Rs 6,446.3 crore).
Margin down 180 bps at 36.54% vs 38.35% (Bloomberg estimate: 37.6%).
Net profit up 10.8% at Rs 5,572.07 crore vs Rs 5,031.01 crore (Bloomberg estimate: Rs 5,192.2 crore).
Declares interim dividend of Rs 6.25 per share.
Godfrey Phillips Q3 FY24 (Consolidated, YoY)
Revenue up 33.8% at Rs 1,249.6 crore (Bloomberg estimate: Rs 991.3 crore).
Ebitda up 8.6% at Rs 227.7 crore (Bloomberg estimate: Rs 198.3 crore).
Ebitda margin at 18.2% vs 22.8%.
Net profit up 6.6% at Rs 212.4 crore (Bloomberg estimate: Rs 190.6 crore).
UTI Asset Management Co. Q3 FY24 (Standalone, YoY)
Revenue up 23.2% at Rs 346.1 crore vs Rs 280.9 crore.
Net profit up 38.4% at Rs 150.3 crore vs Rs 108.6 crore.
RR Kabel Q3 FY24 (Consolidated YoY)
Revenue up 10.4% at Rs 1,633.5 crore vs Rs 1,479.5 crore (Bloomberg estimate: Rs 1,703.7 crore).
Ebitda down 4.2% at Rs 112.5 crore vs Rs 117.5 crore (Bloomberg estimate: Rs 127.2 crore).
Margin down 105 bps at 6.88% vs 7.94% (Bloomberg estimate: 7.5%).
Net profit down 0.7% at Rs 70.9 crore vs Rs 71.4 crore (Bloomberg estimate: Rs 82.2 crore).
Venus Pipes and Tubes Q3 FY24 (Consolidated, YoY)
Revenue up 52.2% at Rs 207.1 crore vs Rs 136.1 crore (Bloomberg estimate: Rs 207.3 crore).
Ebitda up 122.71% at Rs 39.02 crore vs Rs 17.52 crore (Bloomberg estimate: Rs 35 crore).
Margin up 596 bps at 18.84% vs 12.87% (Bloomberg estimate: 16.9%).
Net profit up 106.2% at Rs 23.3 crore vs Rs 11.3 crore (Bloomberg estimate: Rs 22.4 crore).
Nuvoco Vistas Corp. (Consolidated, YoY)
Revenue down 7% at Rs 2,421 crore vs Rs 2,604.6 crore (Bloomberg estimate: Rs 2,586.4 crore).
Ebitda up 53% at Rs 410.4 crore vs Rs 268.3 crore (Bloomberg estimate: Rs 387.9 crore).
Margin up 665 bps at 16.95% vs 10.3% (Bloomberg estimate: 15%).
Net profit at Rs 31 crore vs loss of Rs 75.3 crore (Bloomberg estimate: Rs 27.1 crore).
Jaiprakash Power Ventures (Consolidated, YoY)
Revenue at Rs 2,190.3 crore vs Rs 1,201 crore, up 82.4%.
Ebitda at Rs 577.2 crore vs Rs 9.69 crore.
Margin up at 26.35% vs 0.8%.
Net profit at Rs 172.9 crore vs loss of Rs 218 crore.
NTPC Q3 FY24 (Consolidated YoY)
Revenue down 4% at Rs 42,820.4 crore vs Rs 44,601.8 crore (Bloomberg estimate: Rs 44,646.8 crore).
Ebitda down 21.5% at Rs 11,362.1 crore vs Rs 14,4776 crore (Bloomberg estimate: Rs 12,697.7 crore).
Margin down 592 bps at 26.53% vs 32.45% (Bloomberg estimate: 28.4%).
Net profit up 7.3% at Rs 5,208.9 crore vs Rs 4,854.4 crore (Bloomberg estimate: Rs 4,866.5 crore).
Muthoot Microfin Q3 FY24 (YoY)
NII up 53.1% at Rs 343.1 crore vs Rs 224.1 crore.
Net profit up 119.4% at Rs 124.6 crore vs Rs 56.8 crore.
Tata Investment Corp. Q3 FY24 (Consolidated YoY)
Revenue up 34.2% at Rs 50.6 crore vs Rs 37.7 crore.
Net profit up 53.3% at Rs 53.2 crore vs Rs 34.7 crore.
Earnings In Focus
Apar Industries, Arvind, Astral, Adani Total Gas, Bajaj Finserv, Bajaj Holdings and Investment, Blue Star Ltd. Cochin Shipyard, Coromandel International, Dr. Reddy’s Laboratories, Gillette India, Indian Metals and Ferro Alloys, JBM Auto, Johnson Controls-Hitachi Air Conditioning India, JKumar Infraprojects, Jaiprakash Associates, Jubilant Ingrevia, Kaynes Technology India, KEC International, KPIT Technologies, Larsen & Toubro. Mahindra & Mahindra Financial Services, PB Fintech, Piramal Pharma, Keystone Realtors, Shanti Gears, Shyam Metallics and Energy, SIS, SRF, Strides Pharma Science, Star Health and Allied Insurance Company, Subros, Symphony, Team Lease Services, Triveni Engineering & Industries, Vaibhav Global, V.I.P. Industries, Voltas.
Stocks To Watch
GAIL: The company inked a long-term LNG purchase agreement with Abu Dhabi National Oil for the purchase of 0.5 million metric tonnes per annum LNG.
KEC International: The RPG group company said that it has secured orders worth Rs 1,304 crore across various businesses.
Punjab National Bank: The bank approved raising funds up to Rs 7,500 crore in FY25 via qualified institutional placements, further public offers, or other modes. The shareholding of the government remains above 52%.
Ganesh Benzoplast: The company's unit received an arbitrage award in its favor, against Indorama Synthetics. The unit will get a counterclaim of Rs 19.09 crore.
Lumax Technologies: The company completed the acquisition of Lumax Ancillary on Jan. 25.
Krsnaa Diagnostics: The company received a contract from the Commissioner of Healthcare Services, Maharashtra, to provide MRI scan and CT scan services at 17 Districts in the state hospitals.
Somany Ceramics: The company's unit started its commercial production of a greenfield manufacturing facility of large slab tile of approximately 4 million square meters per annum in Gujarat, with an investment of Rs 185 crore. The manufacturing facility has the potential to generate revenue of ~Rs 250 crore per annum on full capacity utilisation.
Shakti Pumps: The company received the sanction from the Madhya Pradesh Industrial Development Corporation for 46 acres of land situated at Indore. The company will use this land for future expansion.
Ramkrishna Forgings: The company provided a corporate guarantee up to an amount of Rs 50 crore for its unit JMT Auto.
Quick Heal Technologies: The company announced that its safe browser and safe banking feature has been certified as one of the safest for browsing and online banking by AV Lab Cybersecurity Foundation, Poland.
Sunteck Realty: The company will develop projects of gross development value of Rs 3,000 crore at Nepean Sea Road, Bandra Bandstand.
Indraprastha Gas: Life Insurance Corp. increased its stake in the company to 9.35% from 7.3%.
Bajaj Finance: The company approved raising the overall borrowing limit to Rs 3.75 lakh crore from Rs 2.25 lakh crore and approved investment of up to Rs 400 crore in Bajaj Financial Securities in one or more tranches.
SEPC: The company approved fundraising up to Rs 250 crore by issuance of equity shares and increase in authorized share capital to Rs 1,750 crore from Rs 1,450 crore.
Container Corp: The company signed a non-binding Memorandum of Understanding with Indian Oil Corp. to explore opportunities for use of LNG as a fuel, in petrochemical and other container logistic requirements.
Adani Energy Solutions: Rohit Soni resigned from the position of chief financial officer and the company appointed Kunjal Mehta as the CFO of the company.
ITC: The company received a 'no objection' certificate from the exchanges to demerge their hotel business.
NTPC: The company in the Q3 business update reported electricity sales rose by 15% year-on-year and coal plant PLF at 76% vs 68.9% year-on-year.
OnMobile Global: The company appointed Radhika Venugopalan as the chief financial officer. Asheesh Chatterjee has resigned from the position of CFO.
New Listings
Epack Durable: The company's shares will debut on the stock exchanges on Tuesday at an issue price of Rs 230 apiece. The 640.05 crore IPO was subscribed 16.37 times on day third and final day. The bids were led by non-institutional investors (28.10 times), retail investors (6.29 times) and institutional investors (25.50 times).
IPO Offerings
BLS E-Services: The IPO will open for bids on Tuesday. It will comprise a fresh Issue of Rs 310.91 crore. The price band is fixed at Rs 129 -135 per share. The company has raised Rs 125.9 crores from anchor investors.
Bulk Deals
Tips Industries: SBI Mutual Fund bought 64.25 lakh shares (5%) at Rs 380 apiece while Kumar Sadhuram Taurani sold 24.5 lakh shares (1.9%) at Rs 380.26 apiece, Ramesh Sadhuram Taurani sold 24.5 lakh shares (1.9%) at Rs 380 apiece, Renu Kumar Taurani and Varsha Ramesh Taurani sold 8 lakh shares (0.62%) each at Rs 380 apiece.
Shanti Overseas: Lakhubha Solanki sold 1.53 lakh shares (1.37%) at Rs 28.05 apiece.
Who’s Meeting Whom
Voltas: To meet analysts and investors on Feb. 2, 8, 12, 15 and 20.
Mastek: To meet analysts and investors on Jan. 30 and 31.
Union Bank of India: To meet analysts and investors on Feb. 8.
Trading Tweaks
Price band revised from 20% to 10%: Dhunseri Ventures, Oswal Greentech, Steel Exchange of India, Urja Global.
Price band revised from 10% to 5%: Jaiprakash Associates.
Ex/record date dividend: Persistent Systems, Siemens.
Moved into short-term ASM framework: Borosil Renewables, India Nippon Electricals, Oswal Greentech, Visaka Industries.
F&O Cues
Nifty January futures up by 1.80% to 21,855.25 at a premium of 117.6 points.
Nifty January futures open interest up by 1.38%.
Nifty Bank January futures up by 1.23% to 45,735.05 at a premium of 292.7 points.
Nifty Bank January futures open interest down by 6.26%.
Nifty Options Feb 1 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 21,500.
Bank Nifty Options Jan 31 Expiry: Maximum Call Open Interest at 47,000 and Maximum Put open interest at 43,000.
Securities in the ban period: Nil.
