Stocks to Watch: Check out the companies making headlines before the opening bell.
Results on October 19: UltraTech Cement to be in focus ahead of September FY23 quarter earnings on October 19. IndusInd Bank, UltraTech Cement, HDFC Asset Management Company, Nestle India, 5paisa Capital, AU Small Finance Bank, CG Power and Industrial Solutions, Havells India, Home First Finance Company India, Inox Leisure, Metro Brands, Max Financial Services, Nippon Life India Asset Management, Navin Fluorine International, Persistent Systems, Shoppers Stop, and Syngene International will also be watched out ahead of their September FY23 quarter earnings.
L&T Technology Services: The company recorded a 23 percent year-on-year growth in consolidated profit at Rs 283.2 crore for the quarter ended September FY23, supported by strong topline growth. Revenue increased 24 percent on-year to Rs 1,995 crore in Q2FY23, with deal wins at $ 60 million plus. Revenue in dollar terms increased by 13.6 percent YoY to $ 247.1 million and revenue growth in constant currency was 18 percent YoY.
Praj Industries: The company registered a massive 44.4 percent on-year growth in consolidated profit at Rs 48.13 crore for the quarter ended September FY23, backed by healthy topline and operating income growth. Its revenue grew by 64.64 percent to Rs 876.6 crore, compared to the corresponding period last fiscal.
ICICI Lombard General Insurance Company: The company reported a 32 percent year-on-year growth in profit after tax at Rs 590.5 crore for Q2FY23. Net premium earned jumped 18 percent to Rs 3,836.55 crore, compared to the corresponding period last fiscal. The company has declared an interim dividend of Rs 4.50 per share for the financial year ended March 2023.
Suven Life Sciences: The company said the board of directors has decided to open its rights issue on October 31 and the closing date will be November 10. The company is planning to raise Rs 399.80 crore through the rights issue and the issue price has been fixed at Rs 55 per share.
Tinplate Company of India: The company posted a loss of Rs 35.1 crore for Q2FY23, against a profit of Rs 75 crore in year-ago period, impacted by an increase in inventories and other expenses and lower topline. Its revenue declined nearly 2 percent YoY to Rs 959.55 crore for the quarter ended September FY23.
Shalby: The multi-specialty hospital has recorded a 71.3 percent on-year growth in consolidated profit at Rs 18.4 crore for the quarter ended September FY23, supported by operating income. Its revenue grew by 11 percent to Rs 201.8 crore compared to the same period last year.
Adani Enterprises: Adani Defence & Aerospace, the subsidiary of Adani Group, has decided to acquire Air Works for an enterprise value of Rs 400 crore. Adani Defence Systems & Technologies has signed definitive agreements for the acquisition of Air Works, the biggest and highly diversified independent MRO with the largest pan-India network presence across 27 cities.
Harsha Engineers International: The company has issued Letter of Intent (LOI) to Clean Max Enviro Energy Solutions for setting up of hybrid power project with a configuration of wind turbine generator of 2.7 MW along with solar power plant at Pipaliya, in Gujarat.
Mahindra CIE Automotive: The auto ancillary company has recorded a 3 percent year-on-year growth in consolidated profit at Rs 171.4 crore for the quarter ended September FY23, supported by topline and other income, but dented by higher tax cost. Revenue grew by 30 percent to Rs 2,723 crore, compared to the corresponding period last fiscal.
Anant Raj: The company more than doubled its consolidated profit to Rs 33.74 crore for quarter ended September FY23, against Rs 14.14 crore in same period last year which was impacted by second covid wave. Revenue from operations jumped 191 percent to Rs 251.62 crore over the last year.
Network 18 Media and Investments: Network18 Group posted a consolidated loss of Rs 28.84 crore for the quarter ended September FY23, against a profit of Rs 199.27 crore in year-ago period as the company continued to invest in content, marketing, and distribution initiatives, to create a strong foundation for long-term growth, leading to a 34 percent increase in operating costs. Consolidated operating EBITDA fell by 87 percent YoY to Rs 32 crore but consolidated operating revenue climbed 12 percent on-year to Rs 1,549 crore in Q2FY23, amid a challenging advertising environment. [Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.]
TV18 Broadcast: TV18 Group has reported a consolidated profit of Rs 10.28 crore for the quarter ended September FY23, against a profit of Rs 231.40 crore a year ago as the company continued to invest in content, marketing, and distribution initiatives, to create a strong foundation for long-term growth, leading to a 34 percent increase in operating costs. Consolidated operating revenue increased 13 percent on-year to Rs 1,473 crore amid a challenging advertising environment, but consolidated operating EBITDA fell 83 percent YoY to Rs 41 crore in Q2FY23. [Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.]
KPI Green Energy: The company has reported a 73 percent on-year growth in consolidated profit at Rs 21.16 crore for the quarter ended September FY23, boosted by topline. Revenue from operations grew by 178 percent to Rs 160 crore during the same period.
Moneycontrol News
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