Stocks to Watch: Adani Group, Apollo Hosp, HDFC Life, Mankind Pharma, SBI Cards
FIIs bought equities worth nearly ₹2,086 crore ($284m) on May 30. Meanwhile, DIIs sold equities about ₹439 crore on the same day. The Sensex closed at 62,969.13, up 0.20%, while the Nifty 50 rose 0.19% to 18,633.85.
PremiumHere are the top 10 stocks that could be in focus in today's trade:
Adani Transmission/Adani Total Gas/Indus Tower: MSCI Global Standard Index's latest rejig will come into effect from May 31st, where three stocks of Adani Transmission, Adani Total Gas and Indus Towers will be excluded. On the other hand, three stocks Max Healthcare Institute, Hindustan Aeronautics, and Sona BLW Precision will be included. Nuvama's latest report showed that Adani Transmission will see an outflow of $189 million as it will exit the index. While Adani Total Gas will record an outflow of $167 million. Together, the two Adani firms will likely see an outflow of $356 million.
Apollo Hospitals: Apollo Hospitals Enterprise on Tuesday recorded a 50% growth in consolidated net profit at ₹146 crore during the quarter ended March 2023, as compared to a profit of ₹97 crore, in the corresponding quarter of the last fiscal. The company reported a net income of ₹4318.50 Cr during Q4FY23 as compared to ₹3577.15 Cr in Q4FY22, representing a gain of 21% YoY. Commenting on the outlook of the stock post its earnings, A R Ramachandran, Co-founder & Trainer-Tips2trades said that despite improved Q4FY23 results, Apollo Hospitals stock price looks bearish.
HDFC Life: HDFC Life Insurance Co Ltd’s foreign joint venture partner Abrdn Plc, on Tuesday put its remaining stake comprising 35.7 million shares on the block, marking its exit from India’s life insurance space after 23 years. It has valued its holding at ₹2,088.64 crore, or ₹563- 585 per share. Abrdn (formerly Standard Life Aberdeen Plc), through its subsidiary Abrdn (Mauritius Holdings) 2006 Ltd, owned a 1.7% promoter stake in HDFC Life as on 31 March. The Indian promoter HDFC Ltd owns 48.65% of the private insurer.
Adani Ports: Adani Group’s main subsidiary Adani Ports and Special Economic Zone Ltd, on Tuesday, reported a 3% rise in its net profit at Rs. 1,141 crore for the March quarter as compared to Rs. 1,112 crore in the same period of last year. During fiscal 2023, the ports business major recorded investments of around ₹27,000 crore, which includes six key acquisitions totalling around ₹18,000 crore and an organic capex of around Rs. 9,000 crore. These investments were primarily financed through internal accruals and the cash and cash equivalents held with the company.
Mankind Pharma: During Q4FY23 the company reported revenue from operations of ₹2,053 Cr up by 19% YoY from ₹1,726 Cr in Q4FY22. Its EBITDA stood at ₹419 Cr during the quarter ended March 2023 up by 45% YoY from ₹290 Cr during the quarter ended March 2022. Mankind Pharma said its net profit for the quarter under review reached ₹294 Cr up by 52% YoY from ₹193 Cr in the corresponding quarter of the previous fiscal year. The company said its domestic revenue stood at ₹1,972 Cr during Q4FY23 up by 18% YoY.
SBI Cards: SBI Card on Tuesday said it plans to raise up to ₹3,000 crore by issuing debentures to fund business growth. The decision to consider and approve the proposal for raising funds through the issuance of non-convertible debentures (NCDs) aggregating to ₹3,000 crore would be taken in June 5 board meeting, SBI Card said in a regulatory filing. This fundraising would be done through private placement in one or more tranches over a period of time, it added.
Torrent Pharma: Torrent Pharma on Tuesday reported a consolidated profit after tax of ₹287 crore for the fourth quarter ended March 2023, riding on robust sales across geographies. he drug maker had reported a net loss of ₹118 crore in the January-March quarter of the 2021-22 fiscal. The company's revenue rose to ₹2,491 crore for the fourth quarter compared to ₹2,131 crore in the year-ago period, Torrent Pharma said in a statement.
Coal India: A week after approving its new wage agreement allowing higher allowances and benefits for non-executive employees, Coal India Ltd (CIL) raised the price of non-coking coal by 8%. In a regulatory filing, the company said the revision would come into effect from 31 May. This is the first hike in the price of non-coking coal in five years. The last hike in the prices of non-coking coal was carried out in 2018. The increase in prices would lead to incremental revenue of ₹2,703 crore for the remaining period of the current fiscal (FY24).
Suzlon: Renewable energy solution provider Suzlon on Tuesday posted a consolidated net profit of ₹319.99 crore for the March 2023 quarter. The company attributed the positive performance to a reduction in expenses during the period. The company reported a consolidated net loss of ₹205.52 crore in the quarter ended on March 31, 2022, a BSE filing showed. Suzlon’s revenue for the fiscal year 2023 stood at ₹5,947 crore, with ₹1,690 crore generated in the fourth quarter alone. The company’s EBITDA for the fiscal year amounted to ₹832 crore, resulting in an EBITDA margin of 14.0%.
Kalpataru Projects International: Promoters of Kalpataru Projects International Ltd on Tuesday divested 6% of their stake in the firm for ₹468 crore through open market transactions. Parag Mofatraj Munot (promoter) and two promoter group entities -- Kalpataru Constructions Pvt Ltd and Kalpataru Viniyog LLP -- offloaded 96.34 lakh shares of Kalpataru Projects International Ltd (KPIL). According to the bulk deal data available with the BSE, Munot sold 73.24 lakh shares, Kalpataru Constructions disposed of 10 lakh shares and Kalpataru Viniyog offloaded 13.10 lakh shares, amounting to a 5.9% stake.
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