Stocks To Watch: Adani Enterprises, HDFC, Titan, Tata Steel, Britannia Industries, Dabur
Stocks to watch before going into trade today.
Asian markets open higher as the U.S. shares advanced after the Federal Reserve Chair Jerome Powell said the central bank has made progress in its battle against inflation.
The S&P 500 jumped more than 1% after Powell said the “disinflation process has started,” suggesting the aggressive tightening cycle is starting to have its desired effect of reducing the pace of price growth. The tech-heavy Nasdaq 100 outperformed major benchmarks, closing at the highest since September.
At 6:05 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was down 0.47% at 17,616.
The yield on 10-year Treasuries declined five basis points to 3.46%. Crude price fell 3.4%, while gold was down 0.3%. Bitcoin rose 0.2% to trade below $23,000-level.
Indian benchmark indices ended mixed after a volatile session on Wednesday after finance minister Nirmala Sitharaman tabled the Union Budget 2023 in the Parliament.
Rupee ended largely flat against the U.S. dollar in the wake of Indian Budget and ahead of the FOMC policy meeting.
Foreign investors turned net buyers of Indian stocks on wednesday, ending a 7-day selling streak. FPIs bought up equities worth Rs 1,785.21 crore, while the domestic institutional investors remained net buyers for the eight day in a row, buying stocks worth Rs 529.47 crore.
Stocks To Watch
Adani Enterprises: The company decided not to proceed with its Rs 20,000 crore “to protect the interest of its investing community”.
Tata Steel: The company bought 29.98 crore shares in subsidiary Tata Steel Utilities and Infrastructure Services for Rs 58 crore.
Nirlon: The board will consider an interim dividend for the current fiscal during its meeting on Feb. 9.
IDFC: The company will invest Rs 2,200 crore in IDFC First Bank to increase its stake to 40% from 36.38%.
Welspun Enterprises: The company will acquire 100% stake in promoter group company Welspun New Energy at the fair value of Rs 1 lakh to venture into sustainable energy solutions sector. Meanwhile, the board has appointed Lalit Jain as interim chief financial officer of the company.
RailTel Corporation of India: The company has received an order worth Rs 253.35 crore for provisioning of 4G LTE connectivity for offsite 15,000 ATMs and maintenance for five years.
Rail Vikas Nigam: The company received an order worth Rs 41.78 crore provision of automatic block signalling in Nagari-Taduku section and replacement of EI/RRI at Vepagunta station of Chennai Division in Southern Railway.
Earnings
Ashok Leyland Q3 FY23 Highlights (YoY):
Revenue up 63% at Rs 9,029.7 crore (Bloomberg estimate: Rs 8,701 crore)
Ebitda up 256% to Rs 797.3 crore (Bloomberg estimate: Rs 1,563 crore)
Ebitda margin stood at 8.8% Vs 4.0% (Bloomberg estimate: 7.6%)
Net profit up 6,173% at Rs 361.3 crore (Bloomberg estimate: Rs 314.7 crore)
Timken India Q3 FY23 (Consolidated, YoY)
Revenues up 19.49% at Rs 609.4 crore (Bloomberg estimate: Rs 709.4 crore)
Ebitda down 9.11% at Rs 103.7 crore (Bloomberg estimate: Rs 141.9 crore)
Ebitda margin at 17.02% vs 22.37% (Bloomberg estimate: 20%)
Net profit up 1.15% at Rs 70.6 crore (Bloomberg estimate: Rs 134.1 crore)
Gillette India Q3 FY23 (Consolidated, YoY)
Revenues up 9.79% at Rs 618.62 crore
Ebitda up 10.42% at Rs 126.04 crore
Ebitda margin at 20.37% vs 20.26%
Net profit up 5.6% at Rs 74.45 crore
The board recommended a dividend of Rs 35 per share.
UTI Asset Management Co. Q3 FY23 (Consolidated, QoQ)
Revenues down 32.27% at Rs 295.15 crore (Bloomberg estimate: Rs 295.33 crore)
Ebitda down 56.83% at Rs 116.9 crore (Bloomberg estimate: Rs 146.4 crore)
Ebitda margin at 39.61% vs 62.14% (Bloomberg estimate: 49.57%)
Net profit down 70.07% at Rs 60.01 crore (Bloomberg estimate: Rs 111.2 crore)
Mahindra Logistics Q3 FY23 (Consolidated, YoY)
Revenue up 17.04% at Rs 1329.55 crore (Bloomberg estimate: Rs 1,296.18 crore)
Ebitda up 38.38% at Rs 62.74 crore (Bloomberg estimate: Rs 71.3%)
Ebitda margin at 4.72% vs 3.99% (Bloomberg estimate: 5.5%)
Net profit down 21.47% at Rs 1.39 crore (Bloomberg estimate: Rs 15.43 crore)
Sundram Fasteners Q3 FY23 (Consolidated, YoY)
Revenue up 16.19% at Rs 1403.03 crore (Bloomberg estimate: Rs 1,282.8 crore)
Ebitda up 2.78% at Rs 196.28 crore (Bloomberg estimate: Rs 87.1 crore(loss))
Ebitda margin at 13.99% vs 15.82%
Net profit up 8.28% at Rs 117.02 crore (Bloomberg estimate: Rs 85.1 crore)
Redington Q3 FY23 (Consolidated, QoQ)
Revenues up 13.77% at Rs 21,674.31 crore (Bloomberg estimate: Rs 20,034.65 crore)
Ebitda up 8.83% at Rs 579.42 crore (Bloomberg estimate: Rs 546.8 crore)
Ebitda margin at 2.67% vs 2.79% (Bloomberg estimate: 2.7%)
Net profit down 1.88% at Rs 379.7 crore (Bloomberg estimate: Rs 363.35 crore)
ZF Commercial Vehicle Control Systems India Q3 FY23 (Consolidated, YoY)
Revenue up 34.18% at Rs 876.06 crore
Ebitda up 104.64% at Rs 120.06 crore
Ebitda margin at 13.71% vs 8.99%
Net profit up 168.28% at Rs 85.42 crore
Alembic Pharma Q3 FY23 (Consolidated, YoY)
Revenue up 18.66% at Rs 1,509.02 crore (Bloomberg estimate: Rs 1,423.2 crore)
Ebitda up 2.9% at Rs 248.76 crore (Bloomberg estimate: Rs 225.27 crore)
Ebitda margin at 16.48% vs 19.01% (Bloomberg estimate: 15.8%)
Net profit down 29.03% at Rs 121.92 crore (Bloomberg estimate: Rs 129.7 crore)
Tata Chemicals Q3 FY23 (Consolidated, YoY)
Revenue up 32% at Rs 4,148 crore (Bloomberg estimate: Rs 4,193.20 crore)
Ebitda up 69% at Rs 922 crore (Bloomberg estimate: Rs 963.75 crore)
Ebitda margin 22.2% vs 17.4% (Bloomberg estimate: 23%)
Net profit up 26% at Rs 391 crore (Bloomberg estimate: Rs 546.90 crore)
Britannia Industries Q3 FY23 (Consolidated, YoY)
Revenue up 16.17% to Rs 4,101.49 crore (Bloomberg estimate: Rs 4,230.22 crore)
Ebitda down 8.1% at Rs 722.27 crore (Bloomberg Estimate: Rs 683.39 crore)
Operating margin 18.14% vs 13.67% (Bloomberg Estimate: 16.20%)
Net profit up 152.56% to Rs 932.40 crore (Bloomberg Estimate: Rs 469.61 crore)
Ajanta Pharma Q3 FY23 (Consolidated, YoY)
Revenue up 15.98% at Rs 971.77 crore
Ebitda down 29.44% at Rs 169.05 crore
Ebitda margin at 17.4% vs 28.6%
Net profit down 29.86% at Rs 134.51 crore
Hindustan Copper Q3 FY23 (Consolidated, YoY)
Revenues up 2.32% at Rs 557.04 crore
Ebitda down 13.35% at Rs 113.97 crore
Ebitda margins at 20.46% vs 24.16%
Net profit down 53.28% at Rs 80.20 crore
Results
Titan Co., Aditya Birla Capital, Coromandel International, Apollo Tyres, APL Apollo Tubes, Tata Consumer Products, Dabur, SIS, Berger Paints, Welspun Corp., Deepak Fertilisers and Petrochemicals Corp., Aegis Logistics, Mahanagar Gas, Crompton Greaves Consumer Electricals, Max Healthcare Institute, Bajaj Electricals, Birlasoft, Ujjivan Small Finance Bank, Gulf Oil Lubricants, GMM Pfaudler, Hikal, Dr Lal Path Labs, Greenlam Industries, Godrej Properties, CERA Sanitaryware, Zydus Wellness, Aavas Financiers, Clean Science & Technology, Aptus Value Housing Finance, Mahindra Lifespace Developers, Sheela Foam, HDFC, Thomas Cook India, Mahindra Holidays & Resorts, Lloyds Steels, Karnataka Bank, Hawkins Cookers
Block Deal
Polyplex: Utkarsh Trading & Holding bought 2.30 lakh shares (0.73%), Sanjiv Sarita Consulting sold 2.30 lakh shares (0.73%) at Rs 1,505 apiece.
Syngene International: Biocon sold 4 crore shares (9.96%), ABS Direct Equity Fund LLC bought 55,500 shares (0.01%), India Acorn bought 5.52 lakh shares (0.13%), Abu Dhabi Investment Authority bought 6.25 lakh shares (0.15%), Caisse De Depot ET Placement Du Quebec bought 1.11 lakh shares (0.27%), India Acorn Fund bought 1.12 lakh shares (0.027%), India Acorn ICAV Ashoka India ESG Fund bought 13,000 shares (0.003%), ICICI Prudential Mutual Fund bought 37.50 lakh shares (0.93%), Government of Singapore bought 1.57 crore shares (3.93%), Monetary Authority of Singapore bought 34 lakh shares (0.84%), Citigroup Global Markets Mauritius bought 2.50 lakh shares (0.06%), Goldman Sachs Investments Mauritius I bought 3 lakh shares (0.07%), Morgan Stanley Asia Singapore bought 10.35 lakh shares (0.25%), JP Morgan India Smaller Companies Fund bought 2.39 lakh shares (0.05%), Stichting Depositary APG Emerging Markets Equity Pool bought 3.04 lakh shares (0.07%), Nippon India Mutual Fund bought 4.01 lakh shares (0.09%), CFSIL-Colonial First State Global Asset Management Equity Trust 3 bought 19,972 shares (0.004%), Mine Wealth and Wellbeing Superannuation Fund bought 24,201 shares (0.006%), Pacific Assets Trust bought 1.89 lakh shares (0.047%), FS Investments ICVC-Stewart Investors bought 10.80 lakh shares (0.27%), Stewart Investors Asia Pacific Fund bought 2.40 lakh shares (0.05%), CIF III Scheme I bought 1.80 lakh shares (0.04%), Aurigin Master Fund bought 1.80 lakh shares (0.04%), Avendus Absolute Return Fund bought 1.80 lakh shares (0.04%), White Oak Capital Management Consultants bought 5.36 lakh shares (0.13%), Nuvama Enhanced Dynamic Growth Equity Fund bought (0.04%), UTI Pharma and Healthcare Fund bought 57,500 shares (0.01%), UTI Mid Cap Fund bought 1.92 lakh shares (0.04%), Union Mutual Fund bought 2.75 lakh shares (0.06%), Matthews India Fund bought 2.75 lakh shares (0.06%), Matthews Asia Fund 10,412 bought shares (0.002%), Massachusetts Institute of Technology bought 3.20 lakh shares (0.07%), ABSL Umbrella UCITS Fund bought 2.14 lakh shares (0.05%), Sun Life Excel India Fund bought 1.42 lakh shares (0.05%), Kotak Fund-India Midcap Fund bought 3.98 lakh shares (0.09%), Bajaj Allianz Life Insurance Co. bought 5.50 lakh shares (0.13%), Tara Emerging Asia Liquid Fund bought 6 lakh (0.14%), Edelweiss Mutual Fund bought 9 lakh shares (0.22%), Birla Mutual Fund bought 2.14 lakh shares (0.05%), Religare Mutual Fund bought 12.40 lakh shares (0.30%), Invesco Mutual Fund bought 2.59 lakh shares (0.06%), Motilal Oswal Mutual Fund bought 17 lakh shares (0.42%), Al Mehwar Commercial Investments bought 2.38 lakh shares (0.05%), Ashoka India Equity Investment Trust bought 1.35 lakh shares (0.03%), Quaestio Solutions bought 44,336 shares (0.01%), Norges Bank On Account of The Government Pension Fund Global bought 16 lakh shares (0.39%) at Rs 560 apiece.
Insider Trade
Jindal Saw: Promoter group Shradha Jatia bought 7.25 lakh shares on Jan. 30.
Zensar Technologies: Promoter group STEL Holdings 45,018 shares between Jan. 30 and Jan. 31.
Geojit Financial Services: Promoter BNP Paribas SA sold 51,000 shares between Jan. 27 and Jan. 31.
Trading Tweaks
Ex-Date Interim Dividend: Accelya Solutions India, Saregama India, TVS Motor Company, VIP Industries
Record Date Interim Dividend: Accelya Solutions India, Saregama India, TVS Motor Company, VIP Industries
F&O Cues
Nifty February futures ended at 17,665, a discount of 133.55 points.
Nifty February futures fell 0.2% and 1,731 shares in Open Interest.
Nifty Bank February futures ended at 40,710, a discount of 353.15 points.
Nifty Bank February futures fell 10.85% and 11,580 shares in Open Interest.
Securities added to the ban period: Ambuja Cements
Securities removed from the ban period: Nil
Research Reports
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
