The January futures contract of Nifty 50 on the Singapore Exchange indicates a negative start for the domestic equities. The contract traded at 18,136 points, down 86 points or 0.47% from the previous close. Corporate earnings and other news developments will bring in a lot of stock-specific action.
Earnings today: Automobile Corporation of Goa, Anant Raj , Asian Paints, AU Small Finance Bank, CanFin Homes, Datamatics, Gujarat Credit Corporation, Happiest Minds Technologies, Hatsun Agro Product, Havells India, Hindustan Unilever, Hindustan Zinc, IIFL Wealth Management, IndiaMART InterMESH, ICICI Securities, Kuantum Papers, L&T Technology Services (LTTS), Martin Burn, Menon Bearings, Meghmani Finechem, Mahalaxmi Rubtech, Modella Woollens, Mphasis, Netlink Solutions (India), Polycab India, PVR, Spectrum Foods, SVA India, Sterling and Wilson Renewable Energy, and tantia Constructions are scheduled to report their December quarter (Q3FY23) results today.
Adani Enterprises: Adani Enterprises (AEL) has set a price band of Rs 3,112-Rs 3,276 per share for its Rs 20,000-crore follow-on public offering (FPO). Shares of the company last closed at Rs 3,595 on the BSE.
The floor price is set at a 13.4 per cent discount to the last close, while the top-end is close to 9 per cent below. AEL is offering an additional discount of Rs 64 for retail investors.
Hindustan Unilever: The board will meet to consider and approve December quarter earnings. The company is expected to record double-digit revenue growth. However, volume growth is likely to be muted in single digits and gross margins will take a hit year-on-year (YoY) mainly due to inflationary pressure.
HCL Technologies: Shares of the company will trade ex-dividend for the Rs 10 dividend per share announced last week.
IndusInd Bank: Private lender IndusInd Bank on Wednesday reported a 58 per cent year-on-year (YoY) jump in consolidated net profit to Rs 1963.64 crore in October-December on the back of strong growth in net interest income. A sharp decline in provisions for bad loans also boosted the bank’s bottomline in Q3FY23.
Vedanta: Metals and mining major Vedanta will acquire debt-laden power plant Meenakshi Energy for Rs 1,440 crore, the company said on Wednesday in a filing to the stock exchanges.
Mahindra Lifespace: The real estate and infrastructure development arm of the Mahindra Group has been selected as the preferred partner to redevelop two adjacent residential societies in Santacruz West. The project will offer Mahindra Lifespaces a revenue potential of around Rs 500 crore.
Coal India: The government on Wednesday said that it has set a coal production target of more than one billion tonnes (BT) for the next financial year. Of the said target, state-owned CIL has been given the task to produce 780 MT of coal, followed by 75 MT for Singareni Collieries Company Ltd (SCCL) and 162 MT for captive and commercial mines.
Rallis India: Tata group firm Rallis India on Wednesday reported a 43 per cent decline in its December quarter (Q3FY23) net profit at Rs 22.55 crore vs Rs 39.55 crore in Q3FY22. Revenue from operations increased to Rs 630.39 crore as against Rs 628.08 crore revenue recorded last year.
Oracle Financial Services Software: The information technology company’s revenue increased to Rs 1,490.1 crore in Q3FY23 vs Rs 1,301.9 crore in Q3FY22. Sequentially, it rose from Rs 1,421.6 crore. Further, it’s net profit came in at Rs 437.3 crore as against Rs 435.3 crore YoY, and Rs 397.7 crore QoQ.
Persistent Systems: The company reported a 6 per cent QoQ increase in revenues at Rs 2,169.37 crore, meeting Street estimates. It’s earnings before interest and tax (Ebit) was up 11.57 per cent at Rs 333.21 crore, while margin expanded to 15.36 per cent. Net profit up 8.15 per cent QoQ at Rs 237.95 crore vs Bloomberg estimate of Rs 239.87 crore). The board approved an interim dividend of Rs 28 per share.
Vivanta Industries: The Board has approved sub-division of one equity share of the company into 10 equity shares. The record date for the sub-division of equity shares shall be decided in due course. Separately, the company has received orders worth Rs 52 crore.
SBI: State Bank of India (SBI), the country’s largest lender, raised Rs 9,718 crore through the issuance of 15-year infrastructure debt on Wednesday, with the bonds bearing a coupon of 7.70 per cent.
Aurobindo Pharma: The United States Food and Drug Administration (US FDA) inspected the company’s wholly owned subsidiary, APL Health Care Limited’s Unit I & III, and Derma Manufacturing facility located at Jadcherla, Telangana, from January 9 to January 18, 2023. At the end of the inspection, it has been issued a ‘Form 483’ with 2 observations.
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