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Business News/ Markets / Stock Markets/  Stocks to Watch: Adani Group, Mahindra & Mahindra, Zee, Hindalco, BHEL
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Stocks to Watch: Adani Group, Mahindra & Mahindra, Zee, Hindalco, BHEL

Here are a few stocks likely to be in focus on Tuesday, February 14:

The companies under the NSE F&O ban list for Wednesday, February 14, includes National Aluminium Company, Aditya Birla Fashion & Retail, Ashok Leyland, Aurobindo Pharma, Balrampur Chini Mills, Bandhan Bank, Biocon, Delta Corp, India Cements, Indus Towers, Punjab National Bank, SAIL and Zee Entertainment Enterprises. Photo: ReutersPremium
The companies under the NSE F&O ban list for Wednesday, February 14, includes National Aluminium Company, Aditya Birla Fashion & Retail, Ashok Leyland, Aurobindo Pharma, Balrampur Chini Mills, Bandhan Bank, Biocon, Delta Corp, India Cements, Indus Towers, Punjab National Bank, SAIL and Zee Entertainment Enterprises. Photo: Reuters

Adani Group: US-headquartered ratings firm Moody's upgraded the ratings of two green energy firms and two electricity generation and distribution firms of the Adani Group following improved financials, timely debt repayments and a capital infusion by the group over the past year. On Tuesday, Moody's upgraded the ratings of four Adani firms to stable — Adani Green Energy Ltd (AGEL), Adani Green Energy Restricted Group-1 (comprising Adani Green Energy (UP) Ltd, Parampujya Solar Energy Pvt Ltd and Prayatna Developers Pvt Ltd), Adani Transmission Step-One Ltd. and Adani Electricity Mumbai Ltd.

Mahindra & Mahindra: The carmaker, scheduled to report its Q3FY24 results on Wednesday, is likely to post strong double-digit growth in earnings for the December quarter. Net profit for the quarter expected to rise 21.2% YoY to 2,428.30 crore, as per analyst estimates. Revenue is likely to increase 16.5% YoY to 25,216 crore, led by strong growth in volumes in the automotive segment, which will offset the weakness in the tractor segment. Operating profit, or EBITDA, is likely to have grown 14% YoY to 3,213 crore.

Zee Entertainment Enterprises: The media company's consolidated net profit jumped 141% to 58.5 crore for the quarter ended December 31, compared to the 24.3 crore it had earned in the same quarter last year. Revenue from operations fell 3% YoY to 2,045 crore, while its EBITDA declined 43% YoY to 209 crore in the quarter, from 366 crore last year. EBITDA margins declined to 10.2% in the period, compared to 17.4% a year ago.

Hindalco Industries: The flagship company of the Aditya Birla group on Tuesday reported a 71% YoY jump in consolidated net profit to 2,331 crore for Q3FY24. However, its consolidated revenue from operations for the quarter declined 1% YoY to 52,808 crore in Q3FY24. The company's consolidated Ebitda increased 61% to 6,322 crore, with an operating margin of 11%. Revenue at Hindalco’s overseas subsidiary Novelis fell 5.58% to 32,749 crore in the quarter ended December 2023. Earlier, the company had said the cost of the greenfield rolling and recycling plant in Bay Minette, Alabama, will increase from $2.7 billion to $4.1 billion and will be commissioned in the second half of FY27.

Bharat Heavy Electricals: The state-run company posted a standalone net loss of 163 crore in Q3FY24, compared to the net profit of 31 crore it had posted in the year-ago period. Meanwhile, standalone revenue from operations saw a notable increase of 4.5% in Q3FY24, to reach 5,504 crore, compared to 5,264 crore in Q3FY23. BHEL experienced a decline in its quarterly profit during the fourth quarter of fiscal 2023, and has continued to report losses in subsequent quarters. This trend can be attributed to the challenges posed by increased costs of vital raw materials such as steel, copper, and rubber.

Eicher Motors: The maker of Royal Enfield motorcycles reported a 34.4% YoY increase in consolidated net profit for the quarter ended December 31, at 996 crore. Consolidated revenue from operations rose 12.3% YoY to 4,179 crore. Sequentially, the topline rose just 1.6%, while the bottomline declined by 2%. EBITDA, or operating profit grew 27% YoY to 1,090.43 crore, while operating margin expanded 305 basis points on year to 26.09%.

Nuvama Wealth Management: The company's net profit almost doubled to 178 crore in the December quarter, compared to 90 crore in the year-ago period, it stated in an exchange filing on Tuesday. Its revenue rose 38% in Q3FY24 to 558 crore, while it rose 29% to 1,467 crore for the first nine months of the fiscal. The company's expenses rose 21% to 328 crore from 270 crore a year ago, it said. Its Assets Under Management (AUM) stood at 73,855 crore as of December 2023, up 8,000 crore.

Tata Motors: The carmaker announced a price cut of up to 1.2 lakh on various electric vehicle (EV) models as the company intends to pass on the benefits of reductions in battery prices to the customers. Tata Motors has slashed prices of three of its long range variants of its top-selling Nexon.ev by 1.2 lakh each. It now starts from 16.99 lakh compared to 18.19 lakh earlier. Meanwhile, price of Tiago.ev will now start at 7.99 lakh, after receiving a price cut of 70,000. However, prices of the recently launched Punch.ev remain unchanged.

Bharat Electronics: The defence ministry signed a 2,269-crore contract with Bharat Electronics Limited (BEL) on Tuesday to procure 11 Shakti warfare systems, and the associated equipment. The system will be installed on-board the frontline warships of the Indian Navy, officials said. The Shakti EW system, designed, developed and manufactured indigenously, are capable of accurately intercepting electronic emissions and implementing counter measures in a dense electromagnetic environment, officials added.

Sula Vineyards: The comany reported a more than 9% rise in third-quarter profit on Tuesday, at 42.98 crore, from 39.28 crore in the year ago period. Total revenue rose 4% to 218 crore, the company said. Its EBITDA margin expanded to 33.7% from 31% a year ago. Additionally, Sula declared an interim divided of 4 per share for FY24.

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ABOUT THE AUTHOR
Pranay Prakash
My experience as a Finance Journalist has involved working as a Web Producer and Sub Editor at a wire agency and business magazine, respectively, where I have curated various domain specific news pages, and later edited long-form, in-depth pieces on everything from India's corporates to the state of the economy, and various sectors. At Mint, I am involved in the editing of market copies and the curation of the live markets blog. Apart from the financial markets, my interest encompass topics related to the economy, the political economy of a growing economy, the space of policy design, and how it affects the wider economy and the decisions of corporates and consumers alike.
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Published: 14 Feb 2024, 07:40 AM IST
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