Stocks To Watch: Piramal Enterprises, Fino Payments Bank, Adani Green, Maruti Suzuki, Powergrid, Marico

Asian equity futures pointed to gains across the region when markets open on Monday following a rally on Wall Street on Friday.

Contracts for Japan and Hong Kong rose at least 1% while those for Australia edged up 0.3%. Megacaps led gains in U.S. shares on Friday, with the Nasdaq 100 climbing almost 2% and the S&P 500 advancing 1%. Meta Platforms Inc. and Tesla Inc. each climbed more than 4%, while Intel Corp. rallied about 6.5% on a bullish sales forecast. Bond yields fell.

Meanwhile, Brent crude was below $85 a barrel and West Texas Intermediate was around the $80-mark. The yield on the 10-year U.S. bond was trading at 3.96% and Bitcoin was below 30,000-level.

At 5:40 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 65 points or 0.33% at 19,798.

India's benchmark stock indices ended with little change after falling through the day, led by a higher opening on Friday. I.T. and private banking sectors declined, whereas real estate, metals, and media shares gained. The indices ended lower for the second consecutive session.

The headline indices slipped this week, snapping four weeks of record-setting advances. Intraday, the Sensex fell below the 66,000 mark for the first time in two weeks, and the Nifty Midcap 100 hit a fresh all-time high.

Overseas investors in Indian equities remained net sellers on Friday for the second straight day. Foreign portfolio investors offloaded stocks worth Rs 1,023.91 crore, while domestic institutional investors mopped up stocks worth Rs 1,634.37 crore.

The local currency weakened 32 paise to close at Rs 82.26 against the U.S. dollar on Friday.

Hero Motocorp: The two-wheeler maker will close Harley-Davidson X440 online bookings on August 3. Production will start in September, and deliveries will commence in October.

Gland Pharma: The drugmaker got zero observations and a 'No Action Indicated' classification from a U.S. FDA inspection at its Visakhapatnam Sterile Oncology facility.

Power Grid Corporation: The company won bids for two inter-state transmission projects on a build, Own, operate, and Transfer basis in Rajasthan and Andhra Pradesh. Company will also raise up to Rs 5,700 crore in FY24 in multiple tranches by selling bonds of up to Rs 1,900 crore in the first tranche. Base size of the first tranche at Rs 500 crore, with a green shoe option of Rs 1,400 crore.

Fino Payments Bank: The board approved a proposal for transitioning to a small finance bank. The approval is subject to fulfilling all regulatory requirements for the transition. The holding company Fino Paytech Ltd. proposed a corporate restructuring proposal. Fino Payments Bank board has created a committee to explore the possibilities of group corporate restructuring.

Piramal Enterprises: The company has approved a buyback of 1.4 crore equity shares worth Rs 1,750 crore. The shares will be bought at Rs 1,250 apiece. The buyback size represents 5.87% of total paid-up equity share capital, and it will be open for a period of five working days.

Avenue Supermarts: The company opened a new store in Jodhpur, Rajasthan, today. The total number of stores as of date stands at 331.

Divgi TorqTransfer Systems: The company has received an order from an overseas customer to supply components for the OE programme, worth Rs 180 crore. Production is expected to begin in Q4 of fiscal 2024.

RITES: The company has appointed Krishna Gopal Agarwal as Chief Financial Officer of the company for a period of five years starting on or after August 1, 2023.

Shree Cement: The company commenced commercial production at its clinker grinding unit in Purulia district of West Bengal, which has an annual cement capacity of three million tonnes.

Adani Green, Adani Transmission, Asahi India Glass, Bajaj Hindusthan Sugar, Best Agrolife, Bosch, Butterfly Gandhimathi Appliances, Castrol India, Gail India, Go Fashion (India), Heritage Foods, H.G. Infra Engineering, HIL, HMA Agro Industries, Infobeans Technologies, India Pesticides, IRB Infrastructure Developers, JBM Auto, Kaynes Technology India, Kei Industries, Lakshmi Machine Works, Maruti Suzuki India, Navin Fluorine International, Nocil, Oberoi Realty, Petronet LNG, Power Grid, Prakash Industries, R Systems International, Som Distilleries and Breweries, Shivalik Bimetal Controls, Sumitomo Chemical India, Transport Corporation of India, UPL, Welspun India.

Marico Q1FY24 (Consolidated, YoY)

• Revenue down 3.2% at Rs 2,477 crore vs Rs 2558 crore (Bloomberg estimate Rs 2510 crore)

• Net profit up 15.6% at Rs 436 crore vs Rs 377 crore (Bloomberg estimate Rs 413.4 crore)

• EBITDA up 8.7% at Rs 574 crore vs Rs 528 crore (Bloomberg estimate Rs 580 crore)

• Margins at 23.2% vs 20.6% (Bloomberg estimate 23.1%)

SBI Card Q1FY24 (Consolidated, YoY)

• Revenue rose 30% to Rs 1,804.23 crore vs Rs 1,387.3 crore.

• Net interest income rose 14% to Rs 1,233.16 crore vs Rs 1,078.92 crore.

• Net profit fell 5% to Rs 593.31 crore vs Rs 626.91 crore.

• Gross NPA at 2.41% vs 2.35% (QoQ)

• Net NPA at 0.89% vs 0.87% (QoQ)

Laxmi Organics Industries Results (Consolidated, YoY)

• Revenue down 3.05% at Rs 733.5 crore vs 756.6 crore (Bloomberg estimate Rs 755.05 crore)

• Ebitda down 23.13% at Rs 77.10 crore vs 100.3 crore (Bloomberg estimate Rs 74.3 crore)

• Ebitda margin at 10.51% vs 13.25%

• Net profit down 40.51% at Rs 38.3 crore vs 64.4 crore (Bloomberg estimate Rs 36.47 crore)

DCB Bank Q1FY24 (Standalone, YoY)

• NII at Rs 471 crore vs Rs 374 crore (YoY)

• PAT at Rs 127 crore vs Rs 97 crore (YoY) (Bloomberg Estimate: Rs 130 crore)

• Gross NPA at 3.26% vs 3.19% (QoQ)

• Net NPA at 1.19% vs 1.04% (QoQ)

Nazara Tech Q1FY24 (Consolidated, QoQ)

• Revenue down 12% at Rs 254.4 crore vs Rs 289.3 crore

• Net profit up 31.4% at Rs 20.9 crore vs Rs 15.9 crore

• EBIT up 57% at Rs 17.78 crore vs Rs 11.32 crore

• EBIT Margins at 6.9% vs 3.9%

Star Health and Allied insurance (Standalone, YoY)

• Revenue up 14% at Rs 3,190 crore Vs Rs 2,809 crore (Bloomberg estimate: Rs 3,242 crore)

• Net profit up 35% to Rs 288 crore Vs Rs 213 crore (Bloomberg estimate: Rs 360 crore)

United Breweries Q1FY24 (Consolidated, YoY)

• Revenue down 6.7% at Rs 2,274.8 crore vs Rs 2,438.68 crore. (Bloomberg Estimate: Rs 2,633 crore)

• Net profit down 16.1% at Rs 136.3 crore vs Rs 162.5 crore. (Bloomberg Estimate: Rs 207 crore)

• Ebitda down 16.2% at Rs 223 crore vs Rs 266.08 crore. (Bloomberg Estimate: Rs 315.9 crore)

• Margins at 9.8% vs 10.9%. (Bloomberg Estimate: 12%)

Chalet Hotels (Consolidated, YoY)

• Revenue up 22.80% at Rs 310.7 crore vs Rs 253 crore. (Bloomberg Estimate: Rs 317 crore)

• Ebitda up 7.75% at Rs 109.8 crore vs Rs 101.9 crore. (Bloomberg Estimate: Rs 135.67 crore)

• Ebitda margin at 35.33% vs 40.27%. (Bloomberg Estimate:42.84%)

• Net Profit up 210.87% at Rs 88.6 crore vs Rs 28.5 crore. (Bloomberg Estimate: Rs 52 crore)

• Note- {Tax expense (514.50)}

Bank Of India (Standalone, YoY)

• NII at Rs 5915 crore vs Rs 4072 crore (YoY)

• PAT at Rs 1551 crore vs Rs 561 crore (YoY)

• Gross NPA at 6.67% vs 7.31% (QoQ)

• Net NPA at 1.65% vs 1.66% (QoQ)

Equitas Small Finance Bank Q1FY24 (Standalone, YoY)

• NII up 28% at Rs 743.16 crore vs Rs 580.59 crore (YoY)

• Net profit up 97% at Rs 191.2 crore vs Rs 97 crore (YoY)

• Gross NPA at 2.75% vs 2.76% (QoQ)

• Net NPA at 1.18% vs 1.21% (QoQ)

Piramal Enterprises Q1FY24 (Consolidated, YoY)

• Revenue up 34.1% at Rs 2,899 crore vs Rs 2,161 crore

• Net profit down 93.7% at Rs 508.8 crore vs Rs 8,155.5 crore

• Ebitda up 25.5% at Rs 685.69 crore vs Rs 546.26 crore

• Margins at 23.7% vs 25.3%

IFB Industries Q1FY24 (Consolidated, YoY)

• Revenue up 1.7% at Rs 1,086 crore vs Rs 1,067 crore

• Net loss of Rs 62 lakh vs net profit of Rs 1.9 crore

• Ebitda up 4.4% at Rs 114 crore vs Rs 109 crore

• Margins at 10.5% vs 10.2%

UCO Bank (Standalone, YoY)

• NII up 21.8% at Rs 2,008.8 crore vs Rs 1,649.6 crore (YoY)

• Net profit up 80.8% at Rs 223.5 crore vs Rs 124 crore (YoY)

• Gross NPA at 4.48% vs 4.78% (QoQ)

• Net NPA at 1.18% vs 1.29% (QoQ)

Camlin Fine Sciences, Divgi Torqtransfer Systems, Graphite India, HIL, IFB Industries, IIFL Finance, Jamna Auto Industries, Lakshmi Machine Works, MPS, Navin Fluorine International, Nocil, PDS, Pearl Global Industries, Piramal Pharma, Redington.

Orient Electric: ICICI Prudential bought 29.7 lakh shares (1.4%) at Rs 222 apiece and Unifi Capital sold 20 lakh shares (1%) at Rs 222 apiece.

• Price Band Revised From 10% To 20%: De Nora India,

• Price Band Revised From 20% To 10%: Thangamayil Jewellery

• Ex-date Dividend: Jindal Worldwide, Brigade Enterprises, Fairchem Organics, Voltamp Transformers, VRL Logistics, Igarashi Motors, EIH Associated Hotels

• Ex-date AGM: Jindal Worldwide

• Ex-date Income Distribution RITES: Mindspace Business Parks REIT

• Record-date Dividend: Brigade Enterprises, VRL Logistics

• Record-date Income Distribution RITES: Mindspace Business Parks REIT

• Nifty August futures ended at 19,733.30, a discount of 78.10 points.

• Nifty August futures fell 3.15%, with 7,390 shares in open interest.

• Nifty Bank August futures ended at 45,675, a discount of 311.45 points.

• Nifty Bank August futures fell 1.66% with 2,079 shares in open interest.

• Securities in the ban period: Nil

Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.