Stocks To Watch: TCS, Airtel, Glenmark Pharma, L&T, Dr Reddy's, NTPC, Paras Defence, Jubilant FoodWorks
Here are the stocks to watch before going into trade today.
Tata Consultancy Services Ltd., Bharti Airtel Ltd., and Glenmark Pharmaceuticals Ltd. will be among the major stocks to watch on Wednesday.
Tata Consultancy Services has signed a new 15-year contract with Aviva Plc, expanding on its near two decade alliance to service millions of customers of U.K.’s biggest insurer and pensions provider. Bharti Airtel announced that it has launched seven new, next-gen company-owned stores in the city of Ahmedabad.
Meanwhile, Glenmark Pharmaceuticals announced its collaboration with biotech subsidiary Ichnos Sciences to accelerate new drug discovery in cancer treatment.
India’s benchmark equity indices closed lower on Tuesday weighed by losses in index heavyweights Reliance Industries Ltd., Bajaj Finance Ltd. and ITC Ltd.
The NSE Nifty 50 ended 215.50 points, or 0.99%, lower at 21,522.10, while the S&P BSE Sensex fell 801.67 points, or 1.11%, to close at 71,139.90. The Nifty touched an intraday low of 21,501.80 and the Sensex fell to 71,075.72.
Overseas investors turned net buyers of Indian equities on Monday after being sellers for four consecutive sessions. Foreign portfolio investors mopped up equities worth Rs 1,085.7 crore, while domestic institutional investors offloaded stocks worth Rs 820.7 crore, the NSE data showed.
The Indian rupee strengthened by 3 paise to close at Rs 83.11 against the U.S. dollar.
Share indices in Japan were trading in red in early trade on Wednesday, as the country's industrial production missed estimate despite rebounding in December 2023.
Overnight losses in tech stocks on Wall Street, following earning reports from Microsoft, and Alphabet Inch weighed on Asian share indices.
Japan's factory output increased 1.8% in December sequentially, missing 2.5% rise estimated by analysts in a Bloomberg survey, reported Bloomberg. The Nikkei 225 was trading 286.04 points or 0.79% lower at 35,779.82 as of 06:23 a.m.
Markets in Australia were up marginally after data showed the country's mean CPI rose 0.8% in the fourth quarter sequentially compared to 0.9% rise expected by analysts in a Bloomberg survey. The S&P ASX 200 was 0.20% or 14.91 points higher at 7,614.20 as of 06:28 a.m.
Just a day before the Federal Reserve decision, a hotter-than-estimated reading on the U.S. labour market spurred a slide in bonds, with traders dialing back their projections for interest rate cuts, reported Bloomberg.
The S&P 500 index and Nasdaq 100 fell by 0.06% and 0.68%, respectively, as of Tuesday. The Dow Jones Industrial Average rose by 0.35%.
Brent crude was trading 0.57% higher at $82.87 a barrel. Gold was down 0.04% at $2,036.29 an ounce.
Earnings Post Market Hours
L&T Q3 Earnings FY24 (Consolidated, YoY)
Revenue from operations rose 18.83% to Rs 55,127.8 crore (Bloomberg estimate: Rs 53,571 crore).
Ebitda, or operating profit, increased 13.52% to Rs 5,759 crore (Bloomberg estimate: Rs 5,984.7 crore).
Ebitda margin fell 48 bps to 10.44% vs 10.93 a year ago (Bloomberg estimate: 11.2%).
Net profit surged 17.24% to Rs 3,594.51 crore (Bloomberg estimate: Rs 3,245.7 crore).
Dr Reddy's Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 6.6% at Rs 7,236.8 crore vs Rs 6,789.8 crore (Bloomberg estimate: Rs 6,981.8 crore).
Ebitda up 4.4% at Rs 2,023.1 crore vs Rs 1,938.5 crore (Bloomberg estimate: Rs 1,983.8 crore).
Margin down 59 bps at 27.95% vs 28.55% (Bloomberg estimate: 28.4%).
Net profit up 11% at Rs 1,380.9 crore vs Rs 1,243.9 crore (Bloomberg estimate: Rs 1,313.2 crore).
Piramal Pharma Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 14.1% at Rs 1,958.6 crore vs Rs 1,716 crore.
Ebitda at Rs 2,68.37 crore vs Rs 87.33 crore.
Margin up 861 bps at 13.7% vs 5.08%.
Net profit at Rs 10.1 crore vs loss of Rs 90.2 crore.
SRF Q3 Earnings FY24 (Consolidated, YoY)
Revenue down 12.01% at Rs 3,053.04 crore vs Rs 3,469.66 crore (Bloomberg estimate: Rs 3,190 crore).
Ebitda down 32.11% at Rs 565.83 crore vs Rs 833.52 crore (Bloomberg estimate: Rs 654 crore).
Margin down 548 bps at 18.53% vs 24.02% (Bloomberg estimate: 20.5%).
Net profit down 50.39% at Rs 253.43 crore vs Rs 510.9 crore (Bloomberg estimate: Rs 332 crore).
Teamlease Services Q3 Earnings FY24 (Consolidated, QoQ)
Revenue up 7.6% at Rs 2,445.4 crore vs Rs 2,272.6 crore (Bloomberg estimate: Rs 2,387 crore).
EBIT up 19.63% at Rs 22.54 crore vs Rs 18.84 crore (Bloomberg estimate: Rs 33.8 crore).
Margin up 9 bps at 0.92% vs 0.82% (Bloomberg estimate: 1.4%).
Net profit up 12.54% at Rs 31.12 crore vs Rs 27.65 crore (Bloomberg estimate: Rs 27.2 crore).
VIP Industries Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 3.8% at Rs 546.4 crore vs Rs 526.4 crore (Bloomberg estimate: Rs 586.6 crore).
Ebitda down 28.39% at Rs 52.25 crore vs Rs 72.96 crore (Bloomberg estimate: Rs 86 crore).
Margin down 429 bps at 9.56% vs 13.86% (Bloomberg estimate: 14.7%).
Net profit down 83.8% at Rs 7.15 crore vs Rs 44.1 crore (Bloomberg estimate: Rs 46.6 crore).
ZF Commercial Vehicle Control System Q3 FY24 (Consolidated, YoY)
Revenue up 2.56% at Rs 898.51 crore vs Rs 876.06 crore.
Ebitda up 11.3% at Rs 133.6 crore vs Rs 120.1 crore.
Margin up 116 bps at 14.86% vs 13.7%.
Net profit up 18.1% at Rs 100.8 crore vs Rs 85.42 crore.
M&M Financial Services Q3 Earnings FY24 (Standalone YoY)
Total income up 20.7% to Rs 3,490.42 crore (YoY).
Net profit down 12% at Rs 552.8 crore (Bloomberg estimate: Rs 454.5 crore).
Gross stage-3 assets at 3.9% vs 4.3% (QoQ).
Net stage-3 assets at 1.52% vs 1.71% (QoQ).
PB Fintech Q3 Earnings FY24 (Consolidated QoQ)
Revenue up 7.3% at Rs 870.9 crore vs Rs 811.6 crore (Bloomberg estimate: Rs 851.1 crore).
Ebitda loss at Rs 25.5 crore vs Ebitda loss of Rs 90.7 crore (Bloomberg estimate: Profit of Rs 12.9 crore).
Net profit at Rs 37.2 crore vs loss of Rs 19.9 crore (Bloomberg estimate: Rs 24 crore).
Star Health & Allied Insurance (YoY)
Net premium income up 14.9% at Rs 3,293.6 crore vs Rs 2,867.2 crore.
Net profit up 37.6% at Rs 289.6 crore vs Rs 210.5 crore (Bloomberg estimate: Rs 209.6 crore).
Solvency ratio at 2.23 vs 2.17.
Kaynes Tech Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 76.2% at Rs 509.3 crore vs Rs 289.1 crore (Bloomberg estimate: Rs 460.2 crore).
Ebitda up 69.4% at Rs 69.8 crore vs Rs 41.2 crore (Bloomberg estimate: Rs 67.2 crore).
Margin down 54 bps at 13.7% vs 14.25% (Bloomberg estimate: 14.6%).
Net profit up 97.4% at Rs 45.2 crore vs Rs 22.9 crore (Bloomberg estimate: Rs 43.9 crore).
JBM Auto Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 41.2% at Rs 1,346.2 crore vs Rs 953.1 crore (Bloomberg estimate: Rs 1,254.9 crore).
Ebitda up 48.1% at Rs 156.5 crore vs Rs 105.7 crore.
Margin up 53 bps at 11.62% vs 11.08%.
Net profit up 50.7% at Rs 52.1 crore vs Rs 34.5 crore. (Bloomberg estimate: Rs 50.1 crore).
Cochin Shipyard Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 64.6% at Rs 1,056.4 crore vs Rs 641.7 crore.
Ebitda up 108.9% at Rs 310.1 crore vs Rs 148.5 crore.
Margin up 621 bps at 29.35% vs 23.13%.
Net profit up 103.3% at Rs 224.4 crore vs Rs 110.4 crore.
Voltas Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 30.9% at Rs 2,625.7 crore vs Rs 2,005.6 crore (Bloomberg estimate: Rs 2,414 crore).
Ebitda down 63% at Rs 28.3 crore vs Rs 76.39 crore (Bloomberg estimate: Rs 112.7 crore).
Margin down 273 bps at 1.07% vs 3.8% (Bloomberg estimate: 4.7%).
Net loss at Rs 27.6 crore vs loss of Rs 110.5 crore (Bloomberg estimate: Profit of Rs 84.1 crore).
KEC International Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 14.4% at Rs 5,006.72 crore vs Rs 4,374.62 crore (Bloomberg estimate: Rs 4,963.5 crore).
Ebitda up 54% at Rs 307.9 crore vs Rs 199.9 crore (Bloomberg estimate: Rs 338.7 crore).
Margin up 158 bps at 6.14% vs 4.56% (Bloomberg estimate: 6.8%).
Net profit at Rs 96.87 crore vs Rs 17.6 crore (Bloomberg estimate: Rs 100.8 crore).
Jaiprakash Associates Q3 Earnings FY24 (Consolidated, YoY)
Revenue down 19.9% at Rs 1,502.6 crore vs Rs 1,876.3 crore.
Ebitda down 48.5% at Rs 96.9 crore vs Rs 188 crore.
Margin down 357 bps at 6.44% vs 10.01%.
Net loss at Rs 473.8 crore vs loss of Rs 309.3 crore.
SIS Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 5.8% at Rs 3,073.4 crore vs Rs 2,904.3 crore (Bloomberg estimate: Rs 3,183.8 crore).
Ebitda up 19.8% at Rs 151.3 crore vs Rs 126.3 crore (Bloomberg estimate: Rs 153.7 crore).
Margin up 57 bps at 4.92% vs 4.34% (Bloomberg estimate: 4.8%).
Net profit down 64.3% at Rs 36.9 crore vs Rs 103.4 crore (Bloomberg estimate: Rs 92.2 crore).
Earnings In Focus
Ambuja Cements, Amara Raja Energy & Mobility, Automotive Axles, Adani Wilmar, Balaji Amines, Bank of Baroda, Carborundum Universal, Dabur India, Data Patterns, D B Realty, DCM Shriram, Dixon Technologies, Fino Payments Bank, Great Eastern Shipping, GMR Airports Infrastructure, Godrej Consumer Products, Heidelberg Cement India, IDFC, IRB Infrastructure Developers, Jindal Steel and Power, Jubilant FoodWorks, Jyothy Labs, Kajaria Ceramics, Kalyan Jewellers, Lux Industries, Mankind Pharma, Maruti Suzuki India, Max Healthcare, Motherson Sumi, NIIT Learning Systems, Nilkamal, Paisalo Digital ,Procter and Gamble, Poly Medicure, Punjab & Sind Bank, PVR Inox, Relaxo Footwears, Shree Cement, Sun Pharmaceutical Industries, Suzlon Energy, Swan Energy, Thomas Cook (India), Welspun Living, Westlife Foodworld.
Stocks To Watch
Tata Consultancy Services: The IT major signed a new 15-year contract with Aviva Plc, expanding on its near-two-decade alliance to service millions of customers of the U.K.’s biggest insurer and pensions provider.
Bharti Airtel: The company announced that it has launched seven new, next-gen company-owned stores in the city of Ahmedabad.
Glenmark Pharmaceuticals: The pharma company collaborated with biotech subsidiary Ichnos Sciences to accelerate new drug discovery in cancer treatment.
Jubilant FoodWorks: The company announced that it has joined the Open Network for Digital Commerce network.
KPI Green Energy: The company’s unit received a new domestic order of 5 MW solar plant under the captive power producer segment.
UTI AMC: The company approved the reappointment of Imtaiyazur Rahman as managing director and chief executive officer for two years effective from June 13.
NTPC: The company’s unit NTPC Green Energy signed a <emorandum of Understanding with the Maharashtra Government for investing up to Rs 80,000 crore in five years for the development of green hydrogen and derivatives of up to 1 million tons capacity per annum.
Paras Defense and Space Technologies: The company signed a licensing agreement for the transfer of technology with the Instrument Research & Development Establishment and will acquire the technology of a remote control border defense system.
Ganesha Ecosphere: The company opened its QIP to raise Rs 350 crore. The floor price is Rs 995.06 apiece.
New Listings
Nova AgriTech: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 41 apiece. The Rs 143.81 crore IPO was subscribed 109.37 times on third and final day. The bids were led by non-institutional investors (224.08 times), retail investors (77.12 times) and institutional investors (79.31 times).
IPO Offerings
BLS E-Services: The public issue was subscribed to 15.67 times on day 1. The bids were led by retail investors (49.40 times), non-institutional investors (29.70 times), and institutional investors (2.19 times).
Bulk Deals
Dhanlaxmi Bank: Setu Securities bought 13.91 lakh shares (0.55%) at Rs 56.45 apiece.
Crest Ventures: Vernalis Capital sold 5 lakh shares (1.75%) at Rs 356.46 apiece.
Venus Pipes: Kacholia Ashish sold 1.03 lakh shares (0.5%) at Rs 1511.68 apiece.
Who’s Meeting Whom
Adani Enterprises: To meet analysts and investors on Feb. 2.
Federal Bank: To meet analysts and investors on Feb 8.
Pidilite Industries: To meet analysts and investors on Feb. 5.
Voltamp Transformers: To meet analysts and investors on Jan, 31 and Feb 5,6.
JK Cement: To meet analysts and investors on Feb. 5 and 6.
Mahanagar Gas: To meet analysts and investors on Feb 2.
Trading Tweaks
Price band revised from 20% to 10%: IRB Infrastructure Developers.
Price band revised from 10% to 5%: Alok Industries, Dredging Corp of India, Inox Green Energy Services, Network18 Media and Investments, Sun Pharma Advance Research, Websol Energy System.
Ex/record date dividend: Metro Brands, Poonawalla Fincorp.
Moved into short-term ASM framework: Dhunseri Ventures, Infibeam Avenues, IRB Infra Developers.
Moved out of short-term ASM framework: Kiri Industries.
F&O Cues
Nifty January futures down by 1.05% to 21,630.50 at a premium of 108.4 points.
Nifty January futures open interest down by 9.17%.
Nifty Bank January futures down by 0.34% to 45,671.25 at a premium of 303.5 points.
Nifty Bank January futures open interest down by 0.34%.
Nifty Options Feb 1 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 21,000.
Bank Nifty Options Jan 31 Expiry: Maximum Call Open Interest at 47,000 and Maximum Put open interest at 43,500.
Securities in the ban period: Zee Entertainment Enterprise.
