Stocks to Watch: Equity benchmarks could start Tuesday’s trade with nominal gains as indicated by SGX Nifty futures, quoting 50 points above Monday’s close at the 17,844 level.
Overall, US markets were subdued overnight on rising rate concerns. Key indexes like the Dow Jones, S&P 500 and NASDAQ Composite fell as much as 1%.
Asia-Pacific markets rose this morning, however, as investors await central bank decisions. The Nikkei 225, S&P 200, Topix, Kospi, Kosdaq, Hang Seng and Shanghai Composite indices climbed as much as 1%.
Here are some stocks to watch in trading today:
Q3 Results Tracking: Bharti Airtel, Hero MotoCorp, Ambuja Cements, Adani Ports and Special Economic Zone, Adani Green Energy, NDTV, Aditya Birla Fashion and Retail, Astral, Barbeque-Nation Hospitality, Bharat Dynamics, Computer Age Management Services, Deepak Nitrite, Gujarat Fluorochemicals, GSK Pharma, Kalyan Jewelers India, NHPC, Phoenix Mills, Ramco Cements, Sobha, Thermax and Wonderla Holidays, among others, will release their quarterly results today.
Tata Steel: The company reported a consolidated net loss of Rs 2,223.84 crore in the December quarter (Q3FY23) due to a sharp decline in achievements in Europe coupled with a non-cash deferred tax charge on the account of the British Steel Pension Scheme. A year ago, the company recorded a net profit of Rs 9,572.67 crore. READ
Muthoot Finance: India’s largest gold finance company by loan portfolio, recorded an 11% drop in its consolidated net profit during the third quarter of 2022-23 to Rs 934 crore. The company had posted a net profit of Rs 1,044 crore a year ago.
Hindalco: Novelis announced weaker than expected figures with sales down 3% to $4.2 billion from $4.3 billion last year. Operating profit fell 33%, impacted by lower volumes, high inflation and tight scrap spreads. Management said things were bottoming out in the December quarter, but did not provide firm guidance. He also said he remains confident of reaching EBITDA per ton of $500 to $525 per ton by next year.
RIL, Ashok Leyland: Reliance Industries (RIL) and Ashok Leyland, led by Mukesh Ambani, on Monday unveiled India’s first heavy-duty truck powered by a hydrogen internal combustion engine (H2-ICE). The vehicle was reported by Prime Minister Narendra Modi in Bengaluru during India Energy Week.
JK paper: The company said its profit more than doubled in the third quarter, thanks to increased demand for copier papers and packaging boxes in schools and offices after the pandemic. Its profit rose 119% year-on-year to Rs 329.3 crore for the third quarter of FY23, while revenue rose 60.5% year-on-year to Rs 1,643 crore for the trimester.
Adani transmission: The company recorded an almost 73% increase in its consolidated net profit to Rs 478 crore in the December 2022-23 quarter on the back of a one-time revenue gain and higher revenues.
UltraTech Cement: The cement major has announced the commissioning of a 1.5 mtpa brownfield cement grinding unit at Jharsuguda in Odisha, bringing the total cement capacity in Odisha to 4.1 mtpa. With this commissioning, the company’s total cement manufacturing capacity in India now stands at 122.85 mtpa.
Dhampur Sugar Mills: The company has completed the expansion of its 130 KLPD (kilo liter per day) distillery capacity on heavy “C” molasses at the Dhampur unit in Uttar Pradesh. With this expansion, the company’s distillery capacity rises to 350 KLPD.
Grassim: The board of Grasim Industries inducted Ananya Birla and Aryaman Vikram Birla as directors during its meeting held on Monday. Ananya and Aryaman Vikram Birla were recently appointed directors to the board of directors of Aditya Birla Management Corporation Pvt Ltd, the apex body that provides strategic direction to the activities of the Aditya Birla Group.
Nuvoco Vistas Corporation: The company reduced its loss to Rs 75.3 crore for Q3FY23 from a loss of Rs 85.5 crore in the same period last year. Revenue rose 20% year-on-year to Rs 2,605 crore from a year ago.
LIC Housing Finance: The housing finance company posted a 37% decline in net profit to Rs 480 crore for Q3FY23 compared to the period a year ago, impacted by the depreciation of financial instruments. Net interest income rose 10.4% year-on-year to Rs 1,605.9 crore for the quarter.
