Stocks To Watch: Zee, Kotak Mahindra Bank, Adani Ports, Cipla, ICICI Bank, Coforge, MRPL, Oberoi Realty

Zee Entertainment Enterprises Ltd., Kotak Mahindra Bank Ltd., and Adani Ports and Special Economic Zone Ltd. will be among the major stocks to watch on Tuesday.

Sony Group Corp. has officially notified that it plans to call off the merger between its India unit and Zee, while Kotak Mahindra Bank approved the proposal to raise Rs 10,000 crore by way of issuance of NCDs.

S&P has affirmed the ratings of Adani Ports and Adani Electricity Mumbai Ltd., while revising its outlook to 'Stable' from 'Negative'.

Indian benchmark equity indices closed lower on Saturday, as shares of Hindustan Unilever Ltd. and Reliance Industries Ltd. dragged after their Q3 results.

The NSE Nifty 50 closed 50.60 points, or 0.23%, lower at 21,571.80, while the S&P BSE Sensex lost 259.58 points, or 0.36%, to end at 71,423.65.

Overseas investors remained net sellers of Indian equities for the fourth consecutive day. Foreign portfolio investors offloaded equities worth Rs 545.6 crore, while domestic institutional investors turned net sellers after four days and offloaded stocks worth Rs 719.3 crore, the NSE provisional data showed.

The currency and bond markets were closed on Saturday.

Share indices in Japan were trading higher for third day in a row as investors shift their focus on the Bank of Japan's monetary policy decision, scheduled for release later today.

Bank of Japan is largely expected to keep its ultra loose monetary policy intact. However, Governor Kauzuo Ueda's remarks will be crucial for market participants for fresh cues about any impending change.

The benchmark Nikkei 225 was trading 0.51% higher at 36,736.65 as of 06:22 a.m.

Market participants will also closely monitor reaction in China's stock market after the country's Premier Li Qiang asked authorities to take more measure to aid the country's plunging stock market.

The benchmark CSI 300 fell to three-year low on Monday, reported Bloomberg.

U.S. stocks ended with marginal gains as strong economic data and corporate results fuelled Wall Street’s appetite for risk, Bloomberg reported.

The S&P 500 index and Nasdaq 100 advanced 0.22% and 0.09%, as of Monday. The Dow Jones Industrial Average was up by 0.36%.

Brent crude was trading 1.50% higher at $80.06 a barrel. Gold was up 0.05% at $2,022.64 an ounce.

ICICI Bank Q3 FY24 (Standalone, YoY)

• Net profit up 23.5% to Rs 10,271 crore. (Bloomberg estimate: Rs 9,949.8 crore)

• NII up 13% at Rs 18,679 crore.

• Gross NPA down 18 basis points to 2.3%. (QoQ)

• Net NPA up 1 bps 0.44%. (QoQ)

Persistent Systems Q3 FY24 (Consolidated, QoQ)

• Revenue up 3.58% at Rs 2,498.21 crore. (Bloomberg estimate: Rs 2,488.62 crore)

• EBIT up 9.77% at Rs 363.10 crore. (Bloomberg estimate: Rs 353.60 crore)

• EBIT margin up 82 bps at 14.53%. (Bloomberg estimate: 14.21%)

• Net profit up 8.68% at Rs 286.13 crore. (Bloomberg estimate: Rs 280.33 crore)

IDFC First Bank Q3 FY24 (Standalone, YoY)

• Net profit up 18% at Rs 715.7 crore. (Bloomberg estimate: Rs 791.4 crore)

• NII up 30% at Rs 4,286.6 crore.

• Other income up 32% to Rs 1,516.5 crore.

• Gross NPA down 7 basis points at 2.04%. (QoQ).

• Net NPA at 0.68% vs 0.68% (QoQ).

Jammu & Kashmir Bank Q3 FY24 (Standalone, YoY)

• Net profit up 35% at Rs 421.1 crore.

• NII up 2% at Rs 1,280 crore.

• Gross NPA at 4.84% vs 5.26% (QoQ)

• Net NPA at 0.83% vs 1.04% (QoQ)

Waaree Renewable Technologies Q3 FY24 (Consolidated, YoY)

• Revenue up 338.8% at Rs 324.2 crore.

• Ebitda up 145.37% at Rs 87.82 crore.

• Ebitda margin down 2135 bps at 27.08%.

• Net profit up 158% at Rs 64.46 crore.

Karur Vysya Bank Q3 FY24

• NII at Rs 1,001.3 crore vs Rs 889 crore, up 12.6% (YoY).

• Net profit at Rs 411.6 crore vs Rs 289.3 crore, up 42.3%.

• GNPA at 1.58% vs 1.73% (QoQ).

• NNPA at 0.42% vs 0.47% (QoQ).

Bharat Wire Ropes Q3 FY24 (Consolidated, YoY)

• Revenue at Rs 157.2 crore vs Rs 144.3 crore.

• Ebitda at Rs 43.9 crore vs Rs 36.76 crore.

• Margin at 27.92% vs 25.47%.

• Net profit at Rs 26.35 crore vs Rs 18.89 crore.

Tamilnad Mercantile Bank Q3 FY24

• NII at Rs 537 crore vs Rs 534.3 crore, up 0.5% (YoY).

• Net profit at Rs 284.2 crore vs Rs 279.7 crore, up 1.6% (YoY).

• GNPA at 1.69% vs 1.70% (QoQ).

• NNPA at 0.98% vs 0.99% (QoQ).

Lloyds Metals And Energy Q3 FY24 (Consolidated, YoY)

• Revenue at Rs 1,910.5 crore vs Rs 999.6 crore, up 91.1%.

• Ebitda at Rs 447.7 crore vs Rs 227 crore, up 97.2%.

• Margin at 23.43% vs 22.7%, up 72 bps.

• Net profit at Rs 331.5 crore vs Rs 230 crore, up 44.1%.

Colgate India Q3 FY24 (YoY)

• Revenue at Rs 1,395.65 crore vs Rs 1,291.27 crore, up 8.1% (Bloomberg estimate: Rs 1377.28 crore).

• Ebitda at Rs 468.39 crore vs Rs 361.45 crore, up 29.6% (Bloomberg estimate: Rs 429.31 crore).

• Margin at 33.56% vs 27.99%, up 556 bps (Bloomberg estimate: 31.2%).

• Net profit at Rs 330.1 crore vs Rs 243.2 crore, up 35.7% (Bloomberg estimate: Rs 296.96 crore).

Coforge Q3 FY24 (Consolidated, QoQ)

• Revenue at Rs 2,323.3 crore vs Rs 2,276.2 crore, up 2.1% (Bloomberg estimate: Rs 2339.76 crore).

• EBIT at Rs 314 crore vs Rs 263.7 crore, up 19.1% (Bloomberg estimate: Rs 413.14 crore).

• Margin at 13.5% vs 11.6%, up 193 bps (Bloomberg estimate: 17.7%).

• Net profit at Rs 242.8 crore vs Rs 187.9 crore, up 29.2% (Bloomberg estimate: Rs 245.73 crore).

Spandana Sphoorty Financial Q3 FY24 (Standalone, YoY)

• Revenue at Rs 591.2 crore vs Rs 340.2 crore, up 73.8% (Bloomberg estimate: Rs 399.70 crore).

• Net profit at Rs 118.3 crore vs Rs 69.3 crore, up 70.7% (Bloomberg estimate: Rs 133.45 crore).

MRPL Q3 FY24 (Consolidated, QoQ)

• Revenue at Rs 24,676.91 crore vs Rs 19,229.65 crore, up 24.3%.

• Ebitda at Rs 900.5 crore vs Rs 1,832.74 crore, down 50.9%.

• Margin at 3.64% vs 9.53%, down 588 bps.

• Net profit at Rs 392.1 crore vs Rs 1,051.7 crore, down 62.7%.

Oberoi Realty Q3 FY24 (Consolidated, YoY)

• Revenue at Rs 1,053.6 crore vs Rs 1,629.5 crore, down 35.4% (Bloomberg estimate: Rs 1,153. 87 crore).

• Ebitda at Rs 509.4 crore vs Rs 940.4 crore, down 45.8% (Bloomberg estimate: Rs 520 crore).

• Margin at 48.34% vs 57.71%, down 936 bps (Bloomberg estimate: 45.1%).

• Net profit at Rs 360.2 crore vs Rs 702.6 crore, down 48.7% (Bloomberg estimate: Rs 410.02 crore).

IIFL SECURITIES Q3 FY24 (Standalone, YoY)

• Revenue at Rs 481.1 crore vs Rs 314.5 crore, up 53%.

• Net profit at Rs 147.8 crore vs Rs 65.9 crore, up 124.3% (YoY).

Zensar Technologies Q3 FY24 (Consolidated, QoQ)

• Revenue at Rs 1,204.1 crore vs Rs 1,240.8 crore, down 3% (Bloomberg estimate: Rs 1,193.68 crore).

• EBIT at Rs 176.4 crore vs Rs 194.3 crore, down 9.2% (Bloomberg estimate: Rs 205.98 crore).

• Margin at 14.64% vs 15.65%, down 101 bps (Bloomberg estimate: 17.3%).

• Net profit at Rs 161.7 crore vs Rs 173.9 crore, down 7% (Bloomberg estimate: Rs 141 crore).

Cipla Q3 FY24 (Consolidated, YoY)

• Revenue at Rs 6,603.8 crore vs Rs 5,810.1 crore, up 13.7% (Bloomberg estimate: Rs 6,522.2 crore).

• Ebitda at Rs 1,747.5 crore vs Rs 1,407.5 crore, up 24.2% (Bloomberg estimate: Rs 1,598.8 crore).

• Margin at 26.46% vs 24.22%, up 223 bps (Bloomberg estimate: Rs 24.5%).

• Net profit at Rs 1,068.4 crore vs Rs 807.8 crore, up 32.3% (Bloomberg estimate: Rs 1058.12 crore).

Chennai Petroleum Corp Q3 FY24 (Consolidated, QoQ)

• Revenue at Rs 17,376 crore vs Rs 16,544.9 crore, up 2.2%.

• Ebitda at Rs 679.6 crore vs Rs 1,804.7 crore, down 62.4%.

• Margin at 3.91% vs 10.9%, down 699 bps.

• Net profit at Rs 365.3 crore vs Rs 1,195.4 crore, down 69.4%.

VST Industries Q3 FY24 (YoY)

• Revenue at Rs 362.6 crore vs Rs 345.7 crore, up 6% (Bloomberg estimate: Rs 169.30 crore).

• Ebitda at Rs 72.4 crore vs Rs 94.6 crore, down 23.5%.

• Margin at 19.96% vs 27.36%, down 740 bps.

• Net profit at Rs 53.7 crore vs Rs 79 crore, down 32% (Bloomberg estimate: Rs 26.30 crore).

Gensol Engineering Q3 FY24 (Consolidated, YoY)

• Revenue at Rs 220.3 crore vs Rs 50.8 crore.

• Ebitda at Rs 63.1 crore vs Rs 15.3 crore.

• Margin at 28.64% vs 30.11%, down 147 bps.

• Net profit at Rs 12.3 crore vs loss of Rs 1.9 crore.

Gandhar Oil Refinery, Axis Bank, Pidilite Industries, REC, Havells India, JSW Energy, United Spirits, CG Power and Industrial Solutions, Indus Towers, Tata Elxsi, L&T Finance Holdings, Sona BLW Precision Forgings, KEI Industries, Hitachi Energy India, Tanla Platforms, Mahanagar Gas, Granules India, Route Mobile, Glenmark life Sciences, Karnataka Bank ltd, Infibeam Avenues, Gravita India, Rattanindia Power, Puravankara, Cyient DLM, Rallis India, Indoco Remedies, Apcotex Industries.

• Zee Entertainment Enterprises: Sony Group Corp. has officially notified that it plans to call off the merger between its India unit and Zee. The Sony Group has invoked arbitration against Zee and sought a termination fee of $90 million on account of alleged breaches of the deal.

• Kotak Mahindra Bank: The company approved the proposal to raise Rs 10,000 crore by way of issuance of NCDs, on a private placement basis.

• Adani Ports and Special Economic Zone: S&P affirmed the ratings of both the Adani Group company while revising their outlook to 'Stable' from 'Negative'.

• Tata Motors: The automaker increased prices by 0.7% on average across its personal vehicle portfolio, including EVs. The price hike is to be effective from Feb. 1.

• JSW Group: The Odisha government has sanctioned a special incentive package for JSW Group's electric vehicle and component manufacturing projects.

• Tata Steel: The steel manufacturer approved the allotment of 8.65 crore shares to eligible shareholders of Tinplate Co. The company will allot shares in an exchange ratio of 33:10.

• Cyient: The company's US-based unit agreed to settle a civil class action anti-trust lawsuit for $7.4 million.

• Keystone Realtors: The company will redevelop two societies in Malad, Mumbai, having a gross development value of about Rs 1,200 crore.

• SML Isuzu: The company won an arbitration award worth Rs 11.52 crore from Delhi Metro Rail Corp.  

• Cigniti Technologies: The company redesignated Non-Executive Director, Srikanth Chakkilam as the executive director and chief executive officer.

• Vikas Lifecare: The company acquired a 60% stake in SKY 2.0 Club, Dubai, for about $79 million.

• Tata Consultancy Services: The IT major enabled Euroclear Finland to integrate the core platform with ECB’s T2S platform. The integration is set to ease cross-border settlements for investors in Finnish securities.

• Sobha: The company approved the rights issue of shares worth up to Rs 2,000 crore.

• Shree Cement: The cement manufacturer started commercial production at its Nawalgarh cement plant in Rajasthan.

• Hero MotoCorp: The automaker appointed CG Motors as its distributor in Nepal.

• Hindustan Petroleum Corp: The company incorporated a new unit HPCL Renewable and Green Energy for consolidating its existing green business operations.

• State Bank of India: The company acquired 6.35% of Canpac Trends.

• Torrent Power: Mehta Family Trust acquired shares from the promoter family in an inter-se transfer, without any change in control and management. The holding company's stake will remain at 53.56%.

• JM Financial: Atul Mehra has resigned from the position of Joint Managing Director.

• Best Agrolife: The company incorporated a new wholly-owned subsidiary in Mauritius by the name Best Agrolife Global.

• Spencers Retail: Neelesh Bothra has resigned from the position of Chief Financial Officer of the Company.

• SG Mart: The company entered into separate agreements with Kubair Steel and Power and with Premier Bars to manufacture and supply various types of Building Material Products and separate agreements with Alliance Tubes and Galvanizers, and SG Metals and Steels India to use the Trademark/Brand name of the Company for supply of various types of Building Material Products.

• Century Extrusions: The company entered a Memorandum of Understanding with the government of Odisha to set up a new Aluminium extruded products manufacturing unit in the district of Jharsuguda to boost production capacities.

• Anupam Rasayan: The company incorporated a wholly owned unit Anupam Europe AG in Switzerland.

• Karnataka Bank: The lender named Venkat Krishnan V as chief information officer effective Jan. 22.

• EPACK Durable: The public issue was subscribed 0.77 times on day 1. The bids were led by retail investors (1.17 times), non-institutional investors (0.82 times) and institutional investors (0.01 times).

• Nova AgriTech: The IPO will open for bids on Tuesday. It will comprise offer for sale of Rs 143.81 crore. The Price Band is fixed at Rs 39.00 - 41.00. The company has raised Rs 43 crore from anchor Investors.

• Medi Assist Healthcare Services: The company's shares will debut on the stock exchanges on Tuesday at an issue price of Rs 418 apiece. The Rs 1,171.58-crore IPO was subscribed 16.25 times on its third and final day. The bids were led by institutional investors (40.14 times), non-institutional investors (14.85 times) and retail investors (3.19 times).

• Infibeam Avenues: Abhishek Mayur Desai sold 39 lakh shares (0.14%), and Sonal Desai bought 39 lakh shares (0.14%) at Rs 26.45 apiece.

• Cupid: Minerva Ventures Fund bought 0.7 lakh shares (0.52%) at Rs 1862.15 apiece.

• Global Surfaces: Shikhar Aggarwal bought 2.5 lakh shares (0.58%) at Rs 310 apiece.

• Tourism Finance Corp: Alpana Mundra sold 8.15 lakh shares (0.9%) at Rs 188.8 apiece and Divya Mahesh Vaghela sold 5.16 lakh shares (0.57%) at Rs 192.37 apiece while Shruti Mohta bought 21 lakh shares (2.32%) at Rs 187.7 apiece and Garg Brothers bought 5.5 lakh shares (0.6%) at Rs 192.93 apiece and Naravi Infra and Utilities bought 5 lakh shares (0.55%) at Rs 184.94 apiece.

• Jindal Steel and Power: Promoter Siddeshwari Tradex revoked the pledge of 5.05 lakh shares on Jan. 16.

• Medplus Health Services: Promoter Agilemed Investments created a pledge of 3.9 lakh shares on Jan. 19.

• Price band revised from 10% to 5%: Indian Renewable Energy Development Agency, Kamdhenu, Sanghi Industries.

• Price band revised from 20% to 10%: Ganesh Housing Corp, SBC Exports.

• Ex/record date dividend: Angel One, Mas Financials.

• Moved into short-term ASM framework: Ganesh Housing Corp, SBC Exports.

• Moved out of short-term ASM framework: Allied Digital Services, AGS Transact Technologies, Easy Trip Planners, Polycab India.

• Nifty January futures down by 0.24% to 21,604.10 at a premium of 32.3 points.

• Nifty January futures open interest up by 1.48%.

• Nifty Bank January futures up by 0.88% to 46,136.05 at a premium of 78.05 points.

• Nifty Bank January futures open interest down by 10.76%.

• Nifty Options Jan 25 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 20,500.

• Bank Nifty Options Jan 25 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 46,000.

• Securities in ban period: Aditya Birla Fashion and Retail, Balrampur Chini Mills, Delta Corp, Indian Energy Exchange, Indian Railway Corp, National Aluminium, Oracle Financial Services Software, Polycab India, RBL Bank, SAIL, Zee Entertainment.

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