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Business News/ Markets / Stock Markets/  Stocks to Watch: Adani Group, Asian Paints, Eicher Motors, RIL, Airtel

Stocks to Watch: Adani Group, Asian Paints, Eicher Motors, RIL, Airtel

Tata Motors, Vedanta, Cipla, Colgate Palmolive, Polycab India, Cholamandalam Financial, Dish TV, and Indian Overseas Bank will be among the stocks in focus as they will be declaring their March quarter earnings today.

Among the Sensex stocks, Bajaj Finserv, Bajaj Finance, IndusInd Bank, Tech Mahindra, and ICICI Bank ended between 4% and 5.5%Premium
Among the Sensex stocks, Bajaj Finserv, Bajaj Finance, IndusInd Bank, Tech Mahindra, and ICICI Bank ended between 4% and 5.5%

Here are the top 10 stocks that could be in focus in today's trade:

Adani Enterprises: Abu Dhabi-based International Holding Co., which has invested almost $2 billion in companies owned by Gautam Adani, doesn’t plan to take part in any potential share sales if the Indian billionaire decides to tap equity markets. Adani Enterprises Ltd., the Indian tycoon’s flagship, and at least two other group companies plan to hold board meetings on May 13 to consider raising funds via the sale of shares or other securities. Three companies controlled by Adani are considering fundraising that may draw as much as $5 billion, Bloomberg reported.

Asian Paints: Asian Paints Ltd on Thursday reported a 45% rise in fiscal fourth-quarter net profit thanks to a robust increase in volume as well as value in its decorative and non-automotive industrial paints business. Profit in the three months ended March climbed to 1,234.14 crore from 850.4 crore a year earlier, beating Bloomberg consensus estimate of 1140.5 crore. Consolidated revenue from operations rose by 11% to 8,787.34 crore in the March quarter from 7,892.67 crore in the year-ago quarter.

Reliance Industries: German retailer METRO AG on Thursday announced the completion of the sale of its Indian cash & Carry business to Reliance Retail Ventures Ltd (RRVL), which holds the retail empire of Reliance Industries Ltd. The deal includes all 31 wholesale stores operated by METRO Cash & Carry India and the entire real estate portfolio (6 store-occupied properties) to RRVL, said Metro AG in a statement. METRO and RRVL in December 2022 announced a deal for the acquisition of German firm's wholesale operations in India by billionaire Mukesh Ambani-led firm for 2,850 crore.

Eicher Motors: Royal Enfield motorcycle manufacturer, Eicher Motors surpasses expectations in terms of PAT in the fourth quarter of FY23. The automobile giant posted a consolidated PAT of 905.6 crore in Q4FY23, rising by a whopping 48.42% year-on-year. Sequentially, the growth is around 22.24%. In the quarter, the revenue stood at 3,804.32 crore, registering a growth against 3,193.32 crore in Q4 of the previous fiscal and 3,721 crore in December 2022 quarter. Also, in the quarter, EBITDA stood at 933.6 crore, while margins were at 24.5%.

Bharti Airtel: India’s second largest telecom services provider Bharti Airtel will consider issuing dividends for the financial year 2022-23 on 16 May, post its results for the quarter ended March 2023. Mint had reported in October 2022 citing analyst interviews and brokerage reports that Airtel should begin paying out dividends FY24 onwards at 20% of profits increasing to 65% by FY27. They noted that Airtel had a cumulative growth rate of 15% which was far higher than some of its Asian peers with similar earnings parameters.

Zee Entertainment: The proposed merger of Zee Entertainment Enterprises Ltd with Sony Pictures Networks India (SPN) is likely to face a fresh setback after the NSE and BSE on Thursday informed the National Company Law Tribunal (NCLT) that they have been asked by the Securities and Exchange Board of India (Sebi) to submit a 25 April Sebi order as part of the record. The market regulator had passed an ex-parte order in the matter of Shirpur Gold Refinery fund diversion case.

ONGC: il and Natural Gas Corporation Limited (ONGC) on Thursday announced significant discoveries of oil and gas in two separate offshore exploration blocks in the Mumbai Offshore region, according to a statement released by the company. The first discovery was made in the Open Acreage Licensing Policy (OALP) block MB-OSHP-2017/1 in Mumbai Offshore (SW) on the Arabian Sea. ONGC has named this discovery “AMRIT" and a detailed assessment of the discovery is currently underway.

Siemens: Consumer durables major Siemens Ltd, on Thursday, announced a 58.3% rise in net profit at Rs.934.1 crore for the six-month period that ended on 31 March 2023 as compared to 590 crore for the corresponding period of the previous year. The company follows an October-September financial year format. The company said it has booked new orders worth 31,151 crore during the March quarter, which included an order of 25,455 crore for the 9,000 HP (horsepower) locomotive project.

Paytm: SoftBank informed the stock exchanges that it has offloaded a little over a 2% stake in One97 Communications Limited - the parent entity of Paytm, in a series of open market transactions since February 2023, to comply with the capital market regulator SEBI's takeover regulations. SVF India Holdings (Cayman) Ltd, a SoftBank arm, has sold 13,103,148 shares between February 10, 2023, and May 8, 2023, which represents approximately 2.07% of the total shareholding, according to data sourced from the stock exchange filing.

South Indian Bank: Kerala-based private sector lender, South Indian Bank registered a huge growth of 224.95% sequentially in net profit to 333.89 crore in the fourth quarter of FY23. Year-on-year, the PAT recorded a growth of 22.74%. For the full year, the lender has touched a key milestone in its history with the highest-ever growth in key verticals. The bank has also declared a dividend of 30% for its shareholders. The lender's PAT was at 272.04 crore in Q4FY22 and 102.75 crore in Q3FY23 respectively.


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Published: 12 May 2023, 07:16 AM IST
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