Stocks To Watch: BHEL, Adani Enterprises, Kotak Mahindra, Glenmark Pharma, Nykaa, Oil India

Asian markets were poised to decline across the region on Monday after the worst week for stocks and bonds this year as traders increased interest rate expectations ahead of crucial the U.S. inflation data due Tuesday.

The S&P 500 ended the week 1.1% lower, while the tech-heavy Nasdaq 100 fell 2.1%, the worst weekly performance this year for the two indexes.

At 5:50 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.12% at 17,883.5.

Meanwhile, the yield on 10-year U.S. Treasuries was at 3.74%. Crude price was trading around $85-mark, while Bitcoin traded below $22,000-level.

The Indian benchmark indices closed the week lower after a rangebound day of trading, following weak global cues and MSCI rejig of Adani Group stocks weighing on its indexes.

On Friday, after market hours, Moody's took ratings action on eight Adani Group companies.

Rupee closed 2 paise higher against the U.S. dollar at the end of the week, which saw another rate hike by MPC and weaker-than-expected economic data from the U.S.

Foreign investors turned net buyers of Indian stocks on Friday, ending a six-day selling streak. Foreign portfolio investors bought equities worth Rs 1,458.02 crore, while the domestic institutional investors remained sellers for the second day, selling stocks worth Rs 291.34 crore, snapping a 13-day buying streak on Feb. 9.

• Adani Enterprises/Adani Green Energy/Adani Ports and SEZ/Adani Transmission: Ratings agency Moody’s affirmed its ratings for eight Adani Group companies and revised the outlook on four of them. Moody's affirmed 'Ba3' rating for Adani Green Energy and changed outlook to negative from stable. Rating for Adani Ports and Special Economic Zone affirmed at 'Baa3', while outlook remains stable. Adani Transmission Step-One rating has been affirmed at 'Baa3', and outlook changed to negative from stable. Adani Transmission Restricted Group 1 rating affirmed at 'Baa3', and outlook remains stable.

• Mahindra & Mahindra: The company will sell its entire stake in Mahindra Consulting Engineers to Paris-based Artelia Holding SAS for Rs 10.32 crore.

• Kotak Mahindra Bank: The bank will acquire 100% stake in Sonata Finance for Rs 537 crore. After the acquisition, the bank will leverage Sonata’s distribution network and provide wider suite of banking products to Sonata’s customer base matching their emerging banking needs.

• TVS Motor Company: Life Insurance Corporation of India decreased its shareholding in the company to 3.36% from 5.37%.

• BEML: The company received an order worth Rs 377.98 crore for supply of 118 track width mine plough for Arjun MBT MK-1A. The supplies are expected to be completed by January 2026.

• Lemon Tree Hotels: The board approved re-appointment of Patanjali Govind Keswani as chairman and managing director of the company. It also approved acquisition of up to 22 crore compulsorily convertible preference shares of Fleur Hotels from the APG Strategic Real Estate Pool NV for Rs 108.98 crore.

• Canara Bank: The bank hiked lending rates across tenors in the range of 5-25 basis points, effective Feb. 12, 2023.

• Thermax: The company won an order worth Rs 251.7 crore to renovate and modernise electrostatic precipitator package from an Indian public sector company.

• Bharat Heavy Electricals Q3 FY23 (Consolidated, YoY)

Revenue up 2.5% at Rs 5,263.38 crore

Ebitda up 62% at Rs 144.26 crore

Ebitda margin at 2.7% vs 1.7%

Net profit up 56% at Rs 42.28 crore

• Glenmark Pharma Q3 FY23 (Consolidated, YoY)

Revenue up 9% at Rs 3,464 crore (Bloomberg estimate: Rs 3,295 crore)

Ebitda down 11% at Rs 620 crore (Bloomberg estimate: Rs 574 crore)

Ebitda margins at 17.9% vs 21.8% (Bloomberg estimate: 17.4%)

Net profit up 23% at Rs 273 crore (Bloomberg estimate: Rs 251 crore)

• Oil India Q3 FY23 (Consolidated, YoY)

Revenue up 37.14% at Rs 9,301.98 crore (Bloomberg estimate: Rs 5,644.80 crore)

Ebitda up 90.17% at Rs 4,179.75 crore vs Rs 2,197.91 crore (Bloomberg estimate: Rs 2,437.50 crore)

Ebitda margin at 44.93% vs 32.41% (Bloomberg estimate: 43.2%)

Net profit up 76.02% at Rs 2,284.41 crore (Bloomberg estimate: Rs 1,747.10 crore)

The company has declared an interim dividend of Rs 10 per share.

• Metropolis Healthcare Q3 FY23 (Consolidated, YoY)

Revenue down 3% to Rs 285 crore (Bloomberg estimate: Rs 291 crore)

Ebitda down 6% at Rs 70 crore, (Bloomberg estimate: Rs 73 crore)

Ebitda margin at 24.7% vs 25.7% (Bloomberg estimate: 25.2%)

Net profit down 13% at Rs 36 crore (Bloomberg estimate: Rs 36 crore)

• Dish TV India Q3 FY23 (Consolidated, YoY)

Revenues down 22.31% at Rs 552.09 crore

EBITDA down 38.59% at Rs 261.6 crore

Margins at 47.38% vs 59.94%

Net loss of Rs 2.85 crore vs net profit of Rs 80.64 crore

• Fortis Heatlhcare Q3 FY23 (Consolidated, YoY)

Revenue up 6.36% at Rs 1,559.88 crore

Ebitda down 3.66% at Rs 276.44 crore

Ebitda margin at 17.72% vs 19.56%

Net profit up 10.98% at Rs 129.56 crore

• National Aluminium Co. Q3 FY23 (Consolidated, YoY)

Revenues down 12.81% at Rs 3,289.98 crore

Ebitda down 61.38% at Rs 459.77 crore

Ebitda margin at 13.97% vs 31.55%

Net profit down 69.14% at Rs 256.32 crore

New India Assurance Company, Allcargo Logistics, Gujarat Gas, Zee Entertainment Enterprises, IRB Infrastructure Developers, FSN E-Commerce Ventures, Castrol India, Suprajit Engineering, Grindwell Norton, Heidelbergcement India, Campus Activewear, Gujarat State Petronet, Carysil, Vijaya Diagnostic Centre, Icra, Ahluwalia Contracts (India), Authum Investment & Infrastructure, Bengal & Assam Company, Borosil Renewables, Godrej Industries, GR Infraprojects, HBL Power Systems, Hinduja Global Solutions, Hindware Home Innovation, Housing & Urban Development Corporation, Indian Railway Finance Corporation, ISGEC Heavy Engineering, ITI, Jindal Worldwide, Jaiprakash Power Ventures, Kama Holdings, Landmark Cars, Linde India, Marksans Pharma, Global Health, Mirza International, MMTC, National Fertilizers, NLC India, Power Finance Corporation, Polyplex Corporation, PTC India, Ratnamani Metals & Tubes, Shree Renuka Sugars, Rhi Magnesita India, R Systems International, Steel Authority Of India, Schneider Electric Infrastructure, Sindhu Trade Links, Sun Pharma Advanced Research Company, Wockhardt

One97 Communications: Alibaba Singapore E-commerce sold 2.14 crore shares (3.31%) at Rs 642.74 apiece.

• GHCL: Promoter Anurag Dalmai HUF bought 5,775 shares on Feb. 8.

• Gateway Distriparks: Promoter Perfect Communications bought 1.90 lakh shares on Feb. 9.

• Aarti Pharmalabs: Promoter group Anushakti Enterprises bought 4 lakh shares, promoter group Labdhi Business Trust (Saswat Trusteeship) bought 1.69 lakh shares, promoter group Manomaya Business Trust (Alabhya Trusteeship) bought 1.39 lakh shares between Feb. 7-8.

• Steel Strip Wheels: Promoter RK Garg bought 65,000 shares on Feb. 9.

Stove Kraft: Promoter and director Rajendra Gandhi pledged 3 lakh shares on Feb. 8.

• Price Band Revised From 20% To 10%: BF Investment

• Price Band Revised From 5% To 20%: Aarti Pharmalabs

• Ex-Date Interim Dividend: Emami, Procter & Gamble Health,Engineers India, Sun TV Network

• Ex-Date Special Dividend: IDFC

• Ex-Date Buy Back of Shares: Welspun Enterprise

• Record Date Interim Dividend: Emami, Procter & Gamble Health, Engineers India, Sun TV Network

• Record Date Special Dividend: IDFC

• Record Date Buy Back of Shares: Welspun Enterprise

• Move Into Short-Term ASM Framework: BF Investments

• Move Out Of Short-Term ASM Framework: Adani Ports and SEZ, Ambuja Cements, Heranba Industries.

ICICI Bank: To meet investors and analysts on Feb. 13.

• Nifty February futures ended at 17,870, a discount of 75.85 points.

• Nifty February futures rose 3.61% and 7,165 shares in Open Interest.

• Nifty Bank February futures ended at 41,645, a discount of 75.30 points.

• Nifty Bank February futures fell 7.27% and 7,083 shares in Open Interest.

• Securities added to the ban period: Ambuja Cements, Indiabulls Housing Finance

• Securities removed from the ban period: Nil

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.