Stocks to Watch: Check out the companies making headlines before the opening bell
Results on October 17: ACC to be in focus ahead of quarterly earnings on October 17. ACC, Can Fin Homes, Craftsman Automation, Heidelbergcement India, PVR, Tata Coffee, Tata Metaliks, RPG Life Sciences, Spandana Sphoorty Financial, Indowind Energy, Bank of Maharashtra, Star Housing Finance, and Thangamayil Jewellery will be in focus as they declare their quarterly earnings on October 17.
HDFC Bank: The leading private sector lender has reported a 20% YoY growth in standalone profit at Rs 10,606 crore for the quarter ended September FY23. Net interest income grew by 18.9% to Rs 21,021.2 crore with loan book growing 19% compared to year-ago period. Asset quality improved further with gross non-performing assets as a percentage of gross advances falling 5 bps QoQ to 1.23% and net NPA fell 2 bps to 0.33% in Q2FY23.
Avenue Supermarts: The D-Mart retail chain operator clocked a 64.1% year-on-year growth in profit at Rs 685.8 crore for the quarter ended September FY23, with revenue rising 36.6% to Rs 10,638.3 crore and EBITDA climbing 33.4% to Rs 892 crore compared to year-ago period, but margin fell 20 bps to 8.4 percent in Q2FY23 YoY.
Adani Enterprises: The company will acquire SIBIA Analytics and Consulting Services, a Kolkata-based advanced analytics and machine learning company, for an undisclosed amount.
Inox Wind: The company said its board of directors on October 19 to consider raising of funds through issuance of securities including but not limited to non-convertible securities under private placement basis within the overall borrowing limits.
L&T Infotech: The IT services company recorded consolidated profit at Rs 679.8 crore for the quarter ended September FY23, up 7.2%% sequentially, with revenue rising 6.9% to Rs 4,836.7 crore and EBIT climbing 7.8% to Rs 780.9 crore. Revenue in dollar terms grew by 3.6% QoQ to $ 601 million and constant currency revenue growth stood at 4.6% QoQ.
Bajaj Auto: The company has reported a 15.7% year-on-year decline in consolidated profit at Rs 1,719.4 crore for the quarter ended September FY23 as the profit in Q2FY22 was boosted by exceptional income. Revenue grew by 16.4% to Rs 10,202.7 crore, while EBITDA jumped 25% to Rs 1,749.6 crore and margin expanded by 120 bps YoY to 17.2% in Q2FY23.
Shree Cement: The cement company has reported a 67.2% year-on-year decline in standalone net profit at Rs 189.6 crore for the quarter ended September FY23, dented by weak operating performance and higher fuel cost. Revenue from operations grew by 17.9% YoY to Rs 3,780.9 crore in Q2FY23. At the operating level, EBITDA plunged 41.7% to Rs 523.3 crore hit by higher power & fuel cost, and freight & forwarding expenses. Margin tanked 1,420 bps to 13.8% compared to year-ago period. Numbers missed analysts’ estimates.
Tata Elxsi: The company has recorded a 39.3% year-on-year growth in profit at Rs 174.2 crore for the quarter ended September FY23, supported by topline. Revenue grew by 28.2% YoY to Rs 763.2 crore in Q2FY23.
Dilip Buildcon: The road construction company has received project worth Rs 702 crore from Gujarat Metro Rail Corporation. The completion period for the said project is 26 months.
Ahluwalia Contracts (India): The company has secured order from Government of Assam office for additional construction work of new medical college & hospital, Bongaigaon (Assam) worth Rs 110.67 crore. The order inflow during the FY23 stands at Rs 3,011.76 crore, till date.?
ZEE Entertainment Enterprises: Equity shareholders of the company have given a approval to the proposed merger of ZEE and BangIa Entertainment with and into Culver Max Entertainment, formerly Sony Pictures Networks India. ZEE already had received an approval from the Competition Commission of India (CCI) for the merger on October 4, and also received approvals from the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in July 2022.
Oberoi Realty: The real estate company recorded a 19.5% year-on-year growth in consolidated profit at Rs 318.62 crore for the quarter ended September FY23, led by increase in income from joint ventures against significantly low income in year-ago period. Revenue declined 8.7% YoY to Rs 688.6 crore in the quarter ended September FY23.
Birla Corporation: The company has been declared as the successful bidder for Marki Barka coal mines in Madhya Pradesh, by the Government of India.
Olectra Greentech: Olectra Greentech, GSRTC mutually cancel order for additional 50 buses. The company and Gujrat State Road Transport Corporation (GSRTC) have mutually decided not to proceed with the additional 50 buses order. Olectra had initially bagged an order for supply of 50 electric buses from GSRTC which has been already supplied as on date, and later GSRTC issued a Letter of Award to Olectra for additional 50 buses.
Adani Ports and Special Economic Zone: Adani Agri Logistics, the subsidiary of Adani Logistics, has received a Letter of Award from the Food Corporation of India (FCI), to build silo complexes at various locations across the country. Adani Agri Logistics will develop and operate silo complexes at Kanpur, Gonda and Sandila in Uttar Pradesh and Katihar in Bihar. This is in line with the Government of India’s objective of modernizing India’s storage infrastructure, creating a total silo storage capacity of 3.5 lakh MT.
Ujjivan Small Finance Bank: The bank said the board has given its approval for the scheme of amalgamation of Ujjivan Financial Services into and with the bank. The proposed Scheme is subject to approval of the Reserve Bank of India, and exchanges.
NBCC (India): The company has secured the total business of Rs 162.08 crore in September.
Narayana Hrudayalaya: Subsidiary Health City Cayman Islands (HCCI) at Cayman Islands has entered into share purchase agreement to acquire the entire outstanding 50,000 ordinary shares of ENT in Cayman (EICL), a Cayman Islands resident company. EICL provides complete diagnosis and treatment of ear, nose, and throat conditions.
Aditya Birla Money: The company has reported a 51% year-on-year growth in profit at Rs 9.7 crore for the quarter ended September FY23, against profit of Rs 6.4 crore in corresponding period last fiscal. Revenue grew by 18.5% YoY to Rs 68.2 crore in same period.
Moneycontrol News
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