Stocks To Watch: Welspun Enterprises, BPCL, Power Grid Corp, Tata Consumer, Lupin, ONGC
Here are the stocks to watch before going into trade today.
With the Reserve Bank of India set to announce the decision of the monetary policy meeting on Thursday, rate-sensitive stocks in banking and finance, auto, housing, and real estate will be in focus.
Also, companies like Welspun Enterprises Ltd. and Bharat Petroleum Corp. will be among the stocks to watch on Thursday.
Welspun Enterprises emerged as the lowest bidder for the development of a 2,000 million-litre per day water treatment plant from the Brihanmumbai Municipal Corp. BPCL's joint venture petronet LNG executed a long-term LNG sale and purchase agreement with Qatar Energy for the purchase of approximately 7.5 MMTPA liquified natural gas on a long-term basis.
India’s benchmark equity indices ended little changed on Wednesday as traders exercised caution a day ahead of the RBI's monetary policy decision.
The NSE Nifty 50 ended 1.10 points, or 0.01%, higher at 21,930.50, while the S&P BSE Sensex closed 34.09 points down, or 0.05%, at 72,152.
Overseas investors turned net sellers of Indian equities on Wednesday after three consecutive sessions of buying. Foreign portfolio investors offloaded stocks worth Rs 1,691 crore, while domestic institutional investors remained net buyers for the second straight day and mopped up equities worth Rs 327.7 crore, the NSE data showed.
The Indian rupee strengthened 9 paise to close at Rs 82.97 against the U.S. dollar.
Markets in Japan, South Korea were trading higher in early trade on Thursday, tracking overnight gains on Wall Street.
The Nikkei 225 was trading 284.52 points or 0.79% and the KOSPI index was trading 10.68 points or 0.41% higher at 2,620.26 as of 6:30 a.m.
Investors await inflation data from China, and will monitor outcome of the Reserve Bank of India's policy meeting, due later today.
A rally in tech mega caps drove stocks higher, with the S&P 500 approaching its 5,000 milestone. U.S. bonds drifted before a record $42 billion sale of 10-year Treasury bonds, reported Bloomberg.
The S&P 500 index and Nasdaq Composite rose by 0.82% and 0.45%, respectively, as of Wednesday. The Dow Jones Industrial Average rose by 0.41%.
Brent crude was trading 0.79% higher at $79.21 a barrel. Gold was up 0.09% at $2,037.16 an ounce.
Earnings Post Market Hours
Power Grid Corp Q3 FY24 (Consolidated, YoY)
Revenue up 2.55% at Rs 11,549.8 crore vs Rs 11,261.8 crore (Bloomberg estimate Rs 11,438.44 crore).
Ebitda up 3.22% at Rs 10,212.9 crore vs Rs 9,893.5 crore (Bloomberg estimate Rs 9,950.12 crore).
Margin up 57 bps at 88.42% vs 87.85%, (Bloomberg Estimate 87%).
Net profit up 10.5% at Rs 4,028.3 crore vs Rs 3,645.3 crore (Bloomberg estimate Rs 3,731.65 crore).
Star Cement Q3 FY24 (Consolidated, YoY)
Revenue up 5.5% at Rs 651.4 crore vs Rs 617.2 crore (Bloomberg estimate 649.7 crore).
EBITDA up 37.2% at Rs 148.8 crore vs Rs 108.4 crore (Bloomberg estimate 129.6 crore).
Margin up 527 bps at 22.8% vs 17.6%.
Net profit up 39.1% at Rs 73.52 crore vs Rs 52.87 crore (Bloomberg estimate Rs 64 crore).
Manappuram Finance Q3 FY24 (Consolidated, YoY)
Total income up 34.1% at Rs 2,326.7 crore vs Rs 1,734.5 crore.
Net profit up 46.2% at Rs 575.3 crore vs Rs 393.5 crore (Bloomberg estimate Rs 467.30 crore).
EPL Q3 FY24 (Consolidated, YoY)
Revenue up 3.2% at Rs 975.1 crore vs Rs 944.9 crore (Bloomberg estimate Rs 1030.56 crore).
EBITDA up 23.1% at Rs 183.4 crore vs Rs 149 crore (Bloomberg estimate Rs 192.20 crore).
Margin up 303 bps at 18.8% vs 15.8% (Bloomberg estimate 18.70%).
Net profit up 38.6% at Rs 87.3 crore vs Rs 63 crore (Bloomberg estimate Rs 67.85 crore).
Religare Enterprise Q3 FY24 (Consolidated, YoY)
Total income up 31.5% at Rs 1,537.2 crore vs Rs 1,168.6 crore.
Net profit at Rs 33.58 crore vs loss at Rs 95.55 crore.
Alert: other income includes interest income tax refund of Rs 25.94 crore.
Tata Consumer Products Q3 FY24 (Consolidated, YoY)
Revenue up 9.47% at Rs 3,803.9 crore vs Rs 3,474.6 crore (Bloomberg estimate Rs 3811.86 crore).
Ebitda at up 26.13% Rs 572.4 crore vs Rs 453.8 crore (Bloomberg estimate Rs 549.46 crore).
Margin up 198 bps at 15.04% vs 13.06% (Bloomberg estimate 14.40%).
Net profit down 17.26% at Rs 301.5 crore vs Rs 364.4 crore (Bloomberg estimate Rs 349.84 crore).
Alert: Profit miss on back of loss of Rs 91.53 crore exceptional item.
Kalpatru Projects Q3 FY24 (Consolidated, YoY)
Revenue up 22.3% at Rs 4,896 crore vs Rs 4,004 crore.
EBITDA up 13.4% at Rs 424 crore vs Rs 374 crore.
Margin down 68 bps at 8.7% vs 9.3%.
Net profit up 32.1% at Rs 144 crore vs Rs 109 crore.
Aarti Pharmalabs Q3 FY24 (Consolidated, YoY)
Revenue down 4.9% at Rs 448.7 crore vs Rs 471.6 crore.
EBITDA up 10.9% at Rs 95.68 crore vs Rs 86.25 crore.
Margin up 303 bps at 21.3% vs 18.3%.
Net profit up 10.6% at Rs 52.76 crore vs Rs 47.69 crore.
Sobha Q3 FY24 (Consolidated, YoY)
Revenue down 21.1% at Rs 684.9 crore vs Rs 868.2 crore (Bloomberg estimate Rs 942.92 crore).
EBITDA down 16.5% at Rs 74.08 crore vs Rs 88.75 crore (Bloomberg estimate Rs 104.20 crore).
Margin up 59 bps at 10.8% vs 10.2% (Bloomberg estimate 11.10%).
Net profit down 52.6% at Rs 15.08 crore vs Rs 31.81 crore (Bloomberg estimate Rs 44.62 crore).
Gujarat Narmada Valley Fertilizers and Chemicals Q3 FY24 (Consolidated, YoY)
Revenue down 21.89% at Rs 2,088 crore vs Rs 2,673 crore.
Ebitda down 80.87% at Rs 84 crore vs Rs 439 crore.
Margin down 1240 bps at 4.02% vs 16.42%.
Net profit down 70.24% at Rs 97 crore vs Rs 326 crore.
Borosil Renewables Q3 FY24 (Consolidated, YoY)
Revenue up 34.3% at Rs 330 crore vs Rs 245.8 crore.
EBITDA up 8.2% at Rs 20.24 crore vs Rs 18.71 crore.
Margin down 148 bps at 6.1% vs 7.6%.
Net loss at Rs15.89 crore vs profit at Rs 5.84 crore.
Gujarat Industries Power Q3 FY24 (YoY)
Revenue down 6.09% at Rs 353.56 crore vs Rs 376.47 crore.
Ebitda at up 14.74% Rs 94.54 crore vs Rs 82.39 crore.
Margin up 485 bps at 26.73% vs 21.88%.
Net profit up 36.71% at Rs 46.62 crore vs Rs 34.1 crore.
Apollo Tyres Q3 FY24 (Consolidated, YoY)
Revenue up 2.68% at Rs 6,595.36 crore vs Rs 6,422.75 crore.
Ebitda up 32.26%at Rs 1,208.1 crore vs Rs 913.37 crore.
Margin up 409 bps at 18.31% vs 14.22%.
Net profit up 78.13% at Rs 496.63 crore vs Rs 278.79 crore.
Ashoka Buildcon Q3 FY24 (Consolidated, YoY)
Revenue up 35.85% at Rs 2,657.12 crore vs Rs 1,955.82 crore (Bloomberg estimate Rs 1752.60 crore).
Ebitda up 21.93% at Rs 596.98 crore vs Rs 489.6 crore (Bloomberg estimateRs 166.50 crore).
Margin down 256 bps at 22.46% vs 25.03% (Bloomberg estimate 9.50%).
Net profit down 20.64% at Rs 109.81 crore vs Rs 138.37 crore (Bloomberg Estimate Profit Rs 87.50 crore).
Piccadily Agro Industries Q3 FY24 (Consolidated, YoY)
Revenue up 55.88% at Rs 191.9 crore vs Rs 123.1 crore.
Ebitda up 95.55% at Rs 34.3 crore vs Rs 17.54 crore.
Margin up 362 bps at 17.87% vs 14.24%.
Net profit up 548.69% at Rs 44.89 crore vs Rs 6.92 crore.
Protean eGov Technologies Q3 FY24 (Consolidated, QoQ)
Revenue down 13.51% at Rs 203.86 crore vs Rs 235.69 crore (Bloomberg estimate Rs 261.40 crore).
Ebit loss at Rs 9.27 crore vs profit of Rs 71.6 crore.
Net profit down 53.53% at Rs 15.23 crore vs Rs 32.78 crore (Bloomberg estimate Rs 33.10 crore).
Lupin Q3 FY24 (Consolidated, YoY)
Revenue up 20.24% at Rs 5,197.41 crore vs Rs 4,322. Crore (Bloomberg estimate Rs 4,861.11 crore).
Ebitda up 94.85%at Rs 1,037.94 crore vs Rs 532.67 crore (Bloomberg estimate Rs 872.67 crore).
Margin up 764 bps at 19.97% vs 12.32% (Bloomberg estimate 18%).
Net profit up 299.5% at Rs 613.12 crore vs Rs 153.47 crore (Bloomberg estimate Rs 433.29 crore).
Cummins India Q3 FY24 (Consolidated, YoY)
Revenue up 16.78% at Rs 2,509.79 crore vs Rs 2,148.99 crore (Bloomberg estimate Rs 2,281.45 crore).
Ebitda up 35.5% at Rs 510.92 crore vs Rs 377.05 crore (Bloomberg estimate Rs 366.65 crore).
Margin up 281 bps at 20.35% vs 17.54% (Bloomberg estimate 16.10%).
Net profit up 20.56% at Rs 498.91 crore vs Rs 413.8 crore (Bloomberg estimate Rs 359.15 crore).
India Pesticides Q3 FY24 (Consolidated, YoY)
Revenue down 30.77% at Rs 150.68 crore vs Rs 217.64 crore.
Ebitda down 28.93% at Rs 33.07 crore vs Rs 46.53 crore.
Margin up 56 bps at 21.94% vs 21.37%.
Net profit down 31.02% at Rs 23.99 crore vs Rs 34.78 crore.
Earnings In Focus
3M India, Aarti Industries, Apollo Hospitals Enterprise, Aster DM Healthcare, Astra Microwave Products, AstraZeneca Pharma India, Balmer Lawrie, Balrampur Chini Mills, Black Box, Mrs. Bectors Food Specialities, BEML, Biocon, Bombay Dyeing, Car Trade Tech, Concord Biotech, DCX Systems, Electrosteel Castings, ESAB India, ESAF Small Finance Bank, Escorts Kubota, Gabriel India, Grasim Industries, Greaves Cotton, Garware Hi-tech Films, GTL Infrastructure, Harsha Engineer, Hindustan Construction, Healthcare Global Enterprise, Hikal, HMA Agro Industries, Hindustan Foods, Honeywell Automation, IKIO Lighting, Imagicaaworld Entertainment, Indian Shelter Finance Corp, Ircon International, ITD Cementation, Jai Corp, JK Lakshmi Cement, KNR Construction, Life Insurance Corp, Global Health, MMTC, MSTC, Mukand, NCC, Neuland Laboratories, Orchid Pharma, Page Industries, PaTANJALI foods, Power Finance Corp, Precision Wire, The Ramco Cements, Ratnamani Metals and tubes, Rattanindia Enterprises, Rail Vikas Nigam, Saksoft, Sandhar Technologies, Sandhur Manganese and Iron ores, Schneider Electric Infrastructure, Sharda Motors, Shipla Medicare, Siyaram Silk Mills, SKF India, Surya Roshni, Thermax, Torrent Power, United Breweries, Uniparts India, Venky’s India, Wonderla Holidays, Zomato, Zydus Wellness.
Stocks To Watch
Rate sensitive stocks: The RBI will announce the decision of it's Monetary Policy Committee meeting on Thursday. Banking and finance, auto, housing, and real estate stocks will be in focus.
Welspun Enterprise: The company emerged as the lowest bidder for the development of a 2,000 million-litre per-day water treatment plant from the Brihanmumbai Municipal Corp.
Bharat Petroleum Corp: The company’s joint venture petronet LNG executed a long-term LNG sale & purchase agreement with Qatar Energy for the purchase of approximately 7.5 MMTPA liquified natural gas on a long-term basis.
Zomato: The company intimated the liquidation of two step-down subsidiaries in Vietnam and Czech Republic.
ONGC: The company formed a joint venture pact with NTPC Green for renewable energy, Bloomberg reported. The joint venture will focus on offshore wind projects.
Indraprastha Gas: The company signed a Memorandum of Understanding with two technology partners during India Energy Week 2024 to establish CBG plants across Delhi, Haryana, Rajasthan, Uttar Pradesh.
Ashoka Buildcon: The company received a Letter of Award worth Rs 520 crore from the National Highways Authority of India for a project in Bihar.
Piramal Pharma: The U.S. FDA conducted a pre-approval inspection of the company’s U.S.-based facility from Jan. 29 to Feb. 6 and found three observations.
Action Construction Equipment: The company will purchase land worth Rs 82 crore for further capacity and business expansion.
SJVN: The company received a Letter of Intent from Gujarat Urja Vikas Nigam for 200 MW solar power project.
Bajaj Alliance: The company reported a total new business premium at Rs 951 crore in January and gross direct premium at Rs 1,975 crore.
Mangalore Chemicals & Fertilizers Ltd: The company's board has approved merger with the Paradeep Phosphate Ltd.
IPO Offerings
Rashi Peripherals: The public issue was subscribed to 1.09 times on day 1. The bids were led by non-institutional investors (1.87 times), retail investors (1.36 times), and portion reserved for employees (5.42 times) and institutional investors (0.01 times).
Jana Small Finance Bank: The public issue was subscribed to 0.88 times on day 1. The bids were led by non-institutional investors (1.22 times), retail investors (1.20 times), and institutional investors (0.14 times).
Capital Small Finance Bank: The public issue was subscribed to 0.5 times on day 1. The bids were led by non-institutional investors (0.38 times), retail investors (0.67 times), and institutional investors (0.29 times).
Apeejay Surrendra Park Hotels: The public issue was subscribed to 59.66 times on day 3. The bids were led by institutional investors (75.14 times), non-institutional investors (52.41 times), retail investors (30.35 times).
Block Deals
BSE: Marshall Wace Investment Strategies - Systematic Alpha Plus Fund sold 0.88 lakh shares (0.06%), while Societe Generale bought 0.88 lakh shares (0.06%) at Rs 2,469.35 apiece.
Bulk Deals
Indus Tower: Artisan International Value Fund sold 3.33 crore shares (1.23%) at Rs 215.1 apiece.
Knowledge Marine and Engineering Works: Kanak Sujay Kewalramani sold 3.4 lakh shares (3.14%) at Rs 1,572.03 apiece and Saurabh Mukesh Daswani sold 0.75 lakh shares (0.69%) at Rs 1,602.19 apiece.
Dhanlaxmi Bank: Agnus Capital LLP sold 17.98 lakh shares (0.71%) at Rs 47.98 apiece.
Pledge Share Details
Inox Green Energy Services: Promoter Inox Wind revoked a pledge of 11 lakh shares on Feb 7.
Who’s Meeting Whom
Bajaj Electricals: To meet analysts and investors on Feb. 13-15.
Route Mobile: To meet analysts and investors on Feb. 13, 14 and 20.
Adani Ports and Special Economic Zone: To meet analysts and investors on Feb. 12.
Syngene: To meet analysts and investors on Feb. 13.
Anupam Rasayan India: To meet analysts and investors on Feb. 12.
Trading Tweaks
Price band revised from 20% to 10%: UCO Bank, Indian Overseas Bank.
Price band revised from 10% to 5%: Man Industries, Shakti Pumps.
Ex/record date dividend: Shree Cement, Vaibhav Global, Gillette India, Ajanta Pharma, IRB Infrastructure Developers, ITC.
Moved into short-term ASM framework: Swelect Energy Systems.
Moved Out of short-term ASM framework: Allcargo Terminals, Infibeam Avenues.
F&O Cues
Nifty February futures up by 0.18% to 22,003.7 at a premium of 73.2 points.
Nifty February futures open interest up by 0.54%.
Nifty Bank February futures down by 0.56% to 46,131.9 at a premium of 313.4 points.
Nifty Bank February futures open interest up by 6.06%.
Nifty Options Feb 8 Expiry: Maximum Call open interest at 22,300 and Maximum Put open interest at 21,900.
Bank Nifty Options Feb 14 Expiry: Maximum Call Open Interest at 46,000 and Maximum Put open interest at 46,000.
Securities in the ban period: Ashok Leyland, Balrampur Chini Mills, Delta Corp, Hindustan Copper, India Cements, Indus Tower, National Aluminium, SAIL, UPL, Zee Entertainment Enterprise.
