Stocks To Watch: Vodafone Idea, Adani Green, Bharti Airtel, Adani Wilmar, ONGC

Asian markets primed for a mixed open on Wednesday following a late rally in the U.S. shares in a volatile session after Federal Reserve Chair Jerome Powell rebuffed an opportunity to tamp down investor optimism.

The S&P 500 rose more than 1%, reversing a 0.6% drop. The tech-heavy Nasdaq 100 outperformed major benchmarks, climbing more than 2%.

Powell’s sober comments echoed those made after last week’s FOMC meeting, soothing traders who were expecting the Fed chief to push back on the loosening of financial conditions and Friday’s bumper jobs report. Powell highlighted that disinflation has begun, and that further hikes will likely be needed if the jobs market remains strong.

At 6:05 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.27% at 17,777.5.

Meanwhile, the yield on 10-year Treasuries advanced to 3.66%. Crude prices were above $83-mark, Bitcoin hovered around $23,000-level.

The Indian benchmark indices declined in trade on Tuesday after opening with slim gains amid volatility.

Rupee closed higher against the U.S. dollar even as traders awaited the monetary policy decision, scheduled today.

Overseas investors in Indian equities remained net sellers for the fourth day in a row on Tuesday. Foreign portfolio investors offloaded equities worth Rs 2,559.96 crore, while domestic institutional investors mopped up stocks worth Rs 639.82 crore for the 12th day in a row.

• Vodafone Idea: The company allocated 16.13 crore shares, or 33.44% stake, to the government in lieu of conversion of interest dues from deferment of adjusted gross revenue and spectrum auction payments.

• ONGC: The company interacted with global oil majors, including ExxonMobil, Equinor, Baker Hughes, and France-based Institut Français du Pétrole, to collaborate in its exploration ventures in deepwaters of India at the India Energy Week.

• BSE: The stock exchange will divest 2.5% stake in Central Depositary Services Ltd. to meet regulatory shareholding norms.

• Canara Bank: The bank appointed K Satyanarayana Raju as MD & CEO, with effect from Feb. 7, 2023, till his superannuation on Dec. 31, 2025. The board also appointed Hardeep Singh Ahluwalia as executive director, for three years.

• PC Jeweller: Four more banks—IDBI Bank, Indian Bank, Bank of India and Karur Vysya Bank—have issued loan recall notices against the company.

• Blue Star: The company detected a cyberattack at certain locations, following which, its technical team had taken all necessary precautions to retrieve and restore the systems. The company said it has not found any material impact on the operations due to this incident.

• Rail Vikas Nigam: The company emerged as the lowest bidder for provision of automatic block signalling on Madar-Sakhun section of Jaipur division over North-Western Railway. The project cost is Rs 69.48 crore.

• Bharti Airtel Q3 FY23 (Consolidated, QoQ)

Revenue up 4% at Rs 35,804 crore (Bloomberg estimate: Rs 35,727 crore)

Ebitda up 5.14% at Rs 18,710 crore (Bloomberg estimate: Rs 18,666 crore)

Ebitda margin at 52.25% Vs 51.54% (Bloomberg estimate: 52.2%)

Net profit down 26% at Rs 1,590 crore (Bloomberg estimate: Rs 3,189 crore)

ARPU up 1.63% at Rs 193 (Bloomberg estimate: Rs 198.97)

• GlaxoSmithKline Pharmaceuticals Q3 FY23 (Consolidated, YoY)

Revenue down 2% at Rs 802 crore (Bloomberg estimate: Rs 883 crore)

Ebitda up 16% to Rs 229 crore (Bloomberg estimate: Rs 218 crore)

Ebitda margin at 28.5% vs 24.2% (Bloomberg estimate: 24.6%)

Net profit up 9% at Rs 165 crore (Bloomberg estimate: Rs 170 crore)

• Adani Green Energy Q3 FY23 (Consolidated, YoY)

Revenue up 40.92% at Rs 1,973 crore

Ebitda down 18.22% at Rs 853 crore

Ebitda margins at 43.23% vs 74.5%

Net profit up 110.2% at Rs 103 crore

• Eveready Industries Q3 FY23 (Consolidated, YoY)

Revenues up 1.39% at Rs 330.43 crore

Ebitda down 40.94% at Rs 23.96 crore

Ebitda margin at 7.25% vs 12.45%

Net profit down 77% at Rs 5.44 crore

• Hero MotoCorp Q3 FY23 Highlights (Standalone, YoY)

Revenue up 2% at Rs 8,031 crore (Bloomberg estimate: Rs 8,063 crore)

Ebitda down 4% at Rs 924.1 crore (Bloomberg estimate: Rs 961.7 crore)

Ebitda margin at 11.5% vs 12.2% (Bloomberg estimate: 11.9%)

Net profit up 4% to Rs 711 crore (Bloomberg estimate: Rs 718.4 crore)

The board approved an interim dividend of Rs 65 per share.

• Deepak Nitrite Q3 FY23 (Consolidated, YoY)

Revenues up 16% at Rs 1,991.06 crore (Bloomberg estimate: Rs 2,007.10 crore)

Ebitda down 10% at Rs 314.59 crore (Bloomberg estimate: Rs 304.77 crore)

Ebitda margin at 15.8% vs 20.4% (Bloomberg estimate: 15.2%)

Net profit down 14% at Rs 209.05 crore (Bloomberg estimate: Rs 199.02 crore)

• NHPC Q3 FY23 (Consolidated, YoY)

Revenues up 19.75% at Rs 2,582.76 crore (Bloomberg estimate: Rs 2,069.3 crore)

Ebitda up 28.17% at Rs 1,705.27 crore (Bloomberg estimate: Rs 1,148.65 crore)

Ebitda margin at 66.03% vs 61.69% (Bloomberg estimate: 55.5%)

Net profit down 17.41% at Rs 671.67 crore (Bloomberg estimate: Rs 836.3 crore)

The board approved dividend of Rs 1.4 per share.

• Thermax Q3 FY23 (Consolidated, YoY)

Revenue up 26.91% at Rs 2,049.25 crore (Bloomberg estimate: Rs 2,114.2 crore)

Ebitda up 42.42% at Rs 161.08 crore (Bloomberg estimate: Rs 161.19 crore)

Ebitda Margins at 7.86% vs 7% (Bloomberg estimate: 7.6%)

Net profit up 58.83% at Rs 126.19 crore (Bloomberg estimate: Rs 119.15 crore)

• Navin Fluorine International Q3 FY23 (Consolidated, YoY)

Revenues up 48.72% at Rs 563.58 crore (Bloomberg estimate: Rs 518.02 crore)

Ebitda up 57.82% at Rs 155.58 crore (Bloomberg estimate: Rs 128.88 crore)

Ebitda margin at 27.61% vs 26.01% (Bloomberg estimate: 24.9%

Net profit up 54.91% at Rs 106.56 crore (Bloomberg estimate: Rs 90.32 crore)

The board appointed Anish Ganatra as CFO, effective Feb. 9, 2023.

Samvardhana Motherson International, Adani Wilmar, Shree Cement, Godrej Agrovet, Endurance Technologies, Cummins India, Piramal Pharma, Honeywell Automation India, Oberoi Realty, Graphite India, JB Chemicals & Pharmaceuticals, Gati, Dreamfolks Services, Piramal Enterprises, Adani Power, Equitas Small Finance Bank, Escorts Kubota, GOCL Corporation, Gujarat Pipavav Port, HG Infra Engineering, Hindustan Foods, Talbros Automotive Components

• Jash Engineering: Bellwether Capital bought 76,571 (0.64%) shares and Patel Pratil sold 82,000 (0.68%) shares at Rs 858.71 apiece.

• TV Today Network: Seetha Kumari sold 3.03 lakh shares (0.58%) at Rs 303.73 apiece.

• Steel Strips Wheels: Promoter RK Garg bought 20,128 shares on Feb. 6.

• Quess Corp: Promoter & Director Ajit Issac bought 5 lakh shares on Feb. 3.

• KPIT Technologies: Promoter Anupama Patil sold 15 lakh shares between Feb. 3-7.

Ex-Date Interim Dividend: Aarti Drugs, Anupam Rasayan India, Coal India, Kajaria Ceramics, P&G Hygiene and Health Care, Power Grid Corporation of India, Sun Pharmaceutical Industries, MOIL, Radiant Cash Management Services, RailTel Corporation of India, Shanthi Gears, TCI Express

Record Date Interim Dividend: Aarti Drugs, Anupam Rasayan India, Coal India, Kajaria Ceramics, P&G Hygiene and Health Care, Power Grid Corporation of India, Sun Pharmaceutical Industries, MOIL, Radiant Cash Management Services, RailTel Corporation of India, Shanthi Gears, TCI Express

Move Out Of Short-Term ASM Framework: Adani Transmission, Kiri Industries

• State Bank of India: To meet investors and analysts on Feb. 8-9.

• Tata Power: To meet investors and analysts on Feb. 8.

• UltraTech Cement: To meet investors and analysts on Feb. 8.

• Capri Global Capital: To meet investors and analysts on Feb. 8.

• Maharashtra Seamless: To meet investors and analysts on Feb. 8.

• Nifty February futures ended at 17,780.75, a discount of 25.20 points.

• Nifty February futures rose 1.60% and 3,314 shares in Open Interest.

• Nifty Bank February futures ended at 41,640, a discount of 133.10 points.

• Nifty Bank February futures fell 4.14% and 4,105 shares in Open Interest.

• Securities added to the ban period: Ambuja Cements

• Securities removed from the ban period: Adani Ports and Special Economic Zone

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