Stocks To Watch: Adani Enterprises, Hero MotoCorp, Vodafone Idea, HPCL, Wipro, SKF India, Cochin Shipyard
Stocks to watch before going into trade today.
Equities edged lower in Australia while Japanese shares fell more heavily as investors played catchup after Thursday’s holiday. US futures inched down after the S&P 500 saw its fourth straight decline.
Bitcoin rose 0.3% to $20,296.37, while West Texas Intermediate crude fell 0.3% to $87.90 a barrel.
India benchmarks indices closed in the red for the second day in a row with information technology and utilities stocks playing spoilsport.
Rupee waned against the greenback after the U.S. Federal Reserve hiked policy rates by another 75 basis points.
At 6:30 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.12% to 18,092.
Earnings Post Market Hours
Adani Enterprises Q2 FY23 (Consolidated YoY)
Revenue increased 189% to Rs 38,175.23 crore Vs Rs 13,218.02 crore (Bloomberg estimate: Rs 34,669.8 crore)
EBITDA increased 121% to Rs 2069.86 crore Vs Rs 938.25 crore (Bloomberg estimate: Rs 1,643.8 crore)
EBITDA margin at 5.4% vs 7.1% (Bloomberg estimate: 4.7%)
Net profit increased 117% to Rs 460.94 crore Vs Rs 212.41 crore (Bloomberg estimate: Rs 554.20 crore)
Hero MotoCorp Q2 FY23 (Consolidated YoY)
Revenue increased 7% to Rs 9,158.23 crore Vs Rs 8,538.85 crore.
EBITDA flat at Rs 1,086.47 crore.
EBITDA margin at 11.9% Vs 12.7%.
Net profit declined 8% to 688.44 crore Vs Rs 745.72 crore
Vodafone Idea Q2 FY23 (Consolidated QoQ)
Revenue increased 2% to Rs 10,614.6 crore Vs Rs 10,410.1 crore (Bloomberg estimate: Rs 10,518.88 crore)
EBITDA declined 5% to Rs 4,097.5 crore Vs Rs 4,328.4 crore (Bloomberg estimate: Rs 4,496.43 crore)
EBITDA margin at 38.6% vs 41.6% (Bloomberg estimate: 44.3%)
Net loss widened to Rs 7,595.5 crore Vs Rs 7,296.7 crore (Bloomberg estimate: Rs 6,974.93 crore)
Hindustan Petroleum Q2 FY23 (Consolidated YoY)
Revenue increased 30% to Rs 1.14 lakh crore Vs Rs 87,364.27 crore
Operating loss of Rs 326.86 crore Vs operating profit of Rs 2,482.24 crore
Operating margin at -0.3% Vs 3%
Net loss of Rs 2,475.69 crore vs profit of Rs 1,918.89 crore
Sanofi India Q3 FY23 (YoY)
Revenue declined 8% to Rs 691.9 crore Vs Rs 754.5 crore (Bloomberg estimate: Rs 729.7 crore)
EBITDA declined 9% to Rs 181.9 crore Vs Rs 198.8 crore (Bloomberg estimate: Rs 166.43 crore)
EBITDA margin unchanged at 26.3% (Bloomberg estimate: 22.8%)
Net profit declined 75% to Rs 130.9 crore Vs Rs 529.8 crore (Bloomberg estimate: Rs 123.37 crore)
Rain Industries Q3 FY23 (Consolidated QoQ)
Revenue increased 1% to Rs 5,577.1 crore Vs Rs 5,540.55 crore
EBITDA declined 32% to Rs 864.45 crore Vs Rs 1,279.11 crore
EBITDA margin at 15.5% Vs 23.1%
Net profit declined 40% to Rs 403.22 crore Vs Rs 668.46 crore
Ajanta Pharma Q2 FY23 (Consolidated YoY)
Revenue increased 6% to Rs 938.1 crore Vs Rs 884.8 crore (Bloomberg estimate: Rs 930.13 crore)
EBITDA declined 25% to Rs 196.34 crore Vs Rs 262.82 crore (Bloomberg estimate: Rs 239.77 crore)
EBITDA margin at 20.9% Vs 29.7% (Bloomberg estimate: 25.8%)
Net profit declined 20% to Rs 156.6 crore Vs Rs 195.94 crore (Bloomberg estimate: Rs 170.53 crore)
Dividend of Rs 7 apiece on face value of Rs 2 each
Blue Star Q2 FY23 (Consolidated YoY)
Revenue increased 27% to Rs 1,576.24 crore Vs Rs 1,239.74 crore (Bloomberg estimate: Rs 1,412.64 crore)
EBITDA increased 21% to Rs 85.59 crore Vs Rs 70.7 crore (Bloomberg estimate: Rs 80.69 crore)
EBITDA margin at 5.4% Vs 5.7% (Bloomberg estimate: 5.7%)
Net profit increased 36% to Rs 42.55 crore Vs Rs 31.36 crore (Bloomberg estimate: Rs 37.95 crore)
SKF India Q2 FY23 (Consolidated YoY)
Revenue increased 12% to Rs 1,078.26 crore Vs Rs 966.37 crore (Bloomberg estimate: Rs 1,115.80 crore)
EBITDA increased 34% to Rs 214.56 crore Vs Rs 159.75 crore (Bloomberg estimate: Rs 195.30 crore)
EBITDA margin at 19.9% Vs 16.5% (Bloomberg estimate: 17.5%)
Net profit increased 33% to Rs 155.82 crore Vs Rs 117.56 crore (Bloomberg estimate: Rs 139.50 crore)
Amara Raja Batteries Q2 FY23 (Consolidated YoY)
Revenue increased 19% to Rs 2,700.47 crore Vs Rs 2,264.15 crore
EBITDA increased 33% to Rs 358.71 crore Vs Rs 269.11 crore
EBITDA margin at 13.3% Vs 11.9%
Net profit increased 39% to Rs 201.22 crore Vs Rs 144.32 crore (Bloomberg estimate: Rs 111.3 crore)
Dividend of Rs 2.90 per share of face value Re 1.
Siyaram Silk Mills Q2 FY23 (Consolidated YoY)
Revenue increased 32% to Rs 635.76 crore Vs Rs 480.37 crore
EBITDA increased 41% to Rs 119.4 crore Vs Rs 84.63 crore
EBITDA margin at 18.8% Vs 17.6%
Net profit increased 52% to Rs 80.13 crore Vs Rs 52.89 crore
Dividend of Rs 4 per share for each share of face value Rs 2
Stocks To Watch
Wipro: The company appointed Amit Choudhary as chief operating officer. He will manage global business operations, delivery excellence, CIO, CISO, and enterprise risk management functions.
Persistent Systems: The company entered into a partnership with Software AG to develop joint solutions for enterprise clients.
SKF India: The board approved investment of investment of Rs 4.3 crore for 26% in a wind and solar power project SPV in Bengaluru, and additional investment of Rs 1.5 crore for expansion of a captive solar power plant in Pune.
Man Infraconstruction: The board will convene on Nov. 10, 2022 to consider payment of interim dividend for the current fiscal.
Fino Payments Bank: The company appointed Rakesh Bhartia as part-time chairman for a period of three years, awaiting RBI approval.
Cochin Shipyard: The company bagged an international order for two commissioning service operation vessels from a European Client to be used for wind farm installations. The client has the option order four more such vessels within one year.
Welspun Corp: The company’s board approved acquisition of entire share capital of newly incorporated Propel Plastic Products at a fair value consideration of Rs 10,000.
Offerings
Fusion Microfinance: The issue was subscribed 29% on the second day. Non-institutional investors picked 61% of their basket, while retail investors placed bids for 31% of their portion. No bids were received for the QIB portion.
Bikaji Foods International: The issue was subscribed 67% on its opening day. The QIB portion was subscribed 1%, whereas the non-institutional basket was subscribed 58%. Retail investor portion was subscribed 1.10 times, while employees of the company bid for 52% of the portion reserved for them.
Global Health: The IPO received bids for 26% of its total size on the first day. Institutional buyers placed bids for 54% of their basket. The baskets for non-institutional and retail investors saw 18% and 12% subscription, respectively.
Earnings
Akzo Nobel India, Computer Age Management Services, Capri Global Capital, Chemplast Sanmar, Cipla, City Union Bank, Cummins India, EKI Energy Services, Elgi Equipments, Escorts Kubota, Fineotex Chemical, Gillette India, Go Fashion (India), Godrej Agrovet, Harsha Engineers International, Infibeam Avenues, JSW Holdings, Mahindra Logistics, Marico, Minda Corporation, Nava, Paradeep Phosphates, Poly Medicure, Hitachi Energy India, Shipping Corporation Of India, Shivalik Bimetal Controls, Sterlite Technologies, Tatva Chintan Pharma Chem, Tube Investments of India, Titan Company, TTK Prestige, TVS Motor Company, ZF Commercial Vehicle Control Systems India
Who’s Meeting Whom
Akzo Nobel India: To meet investors and analysts on Nov. 4.
Harsha Engineers International: To meet investors and analysts on Nov. 4.
Suprajit Engineering: To meet investors and analysts on Nov. 15.
Acrysil: To meet investors and analysts on Nov. 10.
Kirloskar Brothers: To meet investors and analysts on Nov. 14.
The Phoenix Mills: To meet investors and analysts on Nov. 9.
Supreme Petrochem: To meet investors and analysts on Nov. 9.
Eicher Motors: To meet investors and analysts on Nov. 10.
Jindal Stainless: To meet investors and analysts on Nov. 4.
Puravankara: To meet investors and analysts on Nov. 4.
Arvind SmartSpaces: To meet investors and analysts on Nov. 7.
Schneider Electric Infrastructure: To meet investors and analysts on Nov. 4.
EKI Energy Services: To meet investors and analysts on Nov. 7.
Ashoka Buildcon: To meet investors and analysts on Nov. 14.
Solara Active Pharma Sciences: To meet investors and analysts on Nov. 9.
TD Power Systems: To meet investors and analysts on Nov. 10.
Nitin Spinners: To meet investors and analysts on Nov. 9.
RateGain Travel Technologies: To meet investors and analysts on Nov. 7.
Century Textiles & Industries: To meet investors and analysts on Nov. 4.
Arvind: To meet investors and analysts on Nov. 8.
Zydus Wellness: To meet investors and analysts on Nov. 10.
Trading Tweaks
Ex-Date Annual General Meeting: Procter & Gamble Hygiene and Health Care
Ex-Date Dividend: Procter & Gamble Hygiene and Health Care
Ex-Date E.G.M: Dhanlaxmi Bank
Ex-Date Interim Dividend: TCI Express, Kewal Kiran Clothing, Crisil, Allsec Technologies
Record-Date Interim Dividend: VIP Industries, Coforge, Garware Technical Fibres, Laurus Labs, Indian Metals & Ferro Alloys, Dabur India, Navin Fluorine International
Record-Date Buy Back: Garware Technical Fibres
Record-Date Amalgamation: Apollo Tricoat Tubes
Insider Trades
Maharashtra Seamless: Promoter Group Sudha Apparels bought 5,000 shares on Nov. 1 and Global Jindal Fin-Invest bought 62,563 shares between Nov. 1 and Nov. 2.
KPIT Technologies: Promoter Hemlata Shende sold 5,000 shares between Oct. 25 and Oct. 27.
Research Reports
Global Health IPO - Investment Rationale, Key Strategies, Strengths, Risks, Financials: Anand Rathi
Global Health IPO - A Largest Multi Speciality Hospital Chain In North, East India: Geojit
Bikaji Foods IPO - Leading Snacks Player With Pan India Presence: Reliance Securities
Bikaji Foods IPO - Large Play In Ethnic Snacks Industry: ICICI Direct