Stocks to Watch: Adani Group, RIL, Tata Steel, Cyient, Britannia, Paytm

Here is the list of the top 10 stocks that will be in focus today:

Adani Group: The Adani group aims to boost group-level operating earnings by nearly 50% to around ₹91,000 crore over the next two fiscal years, helping lower its leverage ratios and assuaging the concerns of investors and creditors to whom it owes around $23 billion. In recent meetings with creditors, Adani officials outlined plans to lower the group’s leverage ratio from 4.2 times now to 3.1 by the end of FY24, chiefly by increasing earnings rather than reducing debt, two people with direct knowledge of Adani’s strategy said on the condition of anonymity.

Reliance Industries: Reliance Retail Ltd, on Wednesday announced the launch of Tira, an omnichannel beauty retail platform further fueling competition in India’s beauty and personal care market. The retailer that now has a presence across apparel, grocery, luxury, footwear, electronics and jewellery retail also announced the opening of the flagship Tira store at Jio World Drive in Mumbai’s Bandra Kurla Complex. The company could potentially scale up the Tira store format across 100 cities in India; formats could change according to locations, said people familiar with the retailer’s plan.

Tata Steel: Tata Steel announced its provisional 4QFY2023 and FY2023 production and delivery volumes. Tata Steel India recorded the highest-ever annual crude steel output of 19.9 million tonnes, with a rise of 4% YoY, by debottling bottlenecks across sites and ramping up Neelachal Ispat Nigam Ltd. Production of crude steel rose by 3% QoQ and reached 5.15 million tonnes in 4QFY23. Tata Steel's output volume in India grew by 5.1% YoY to 5.15 million tonnes in the fourth quarter of the fiscal year 2022–23.

Cyient: One of the leading integrated Electronic Manufacturing Services (“EMS") and solutions providers, Cyient DLM has received the Securities and Exchange Board of India (SEBI) approval for its proposed initial public offering (IPO). The company plans to raise about ₹740 crore through this public offer. The company filed its draft prospectus on January 10th this year. Listed IT firm, Cyient is the promoter of Cyient DLM.

Britannia Industries: FMCG giant, Britannia Industries has declared an interim dividend of ₹72 per equity share for the financial year FY23. In percentage terms, the dividend comes to around a whopping 7200%. Britannia is among the kings of dividend stocks, paying hefty benefits to its shareholders. In its regulatory filing on Tuesday, Britannia said, "declared an Interim Dividend @ 7200% i.e., Rs. 72/‐ per Equity Share of the face value of Re 1 each for the Financial Year 2022‐23."

One97 Communications: Digital financial services firm One97 Communications, which operates under the Paytm brand, has recorded 40% growth in gross merchandise value on its platform to ₹3.62 lakh crore in March 2023 quarter, the company said on Wednesday. The company had recorded a total GMV of ₹2.59 lakh crore a year ago, Paytm said in a regulatory filing that the total merchant GMV processed through our platform for the quarter was ₹3.62 Lakh crore marking a y-o-y growth of 40%.

Yes Bank: Yes Bank on Wednesday said it has reported a credit growth of 11.3 per cent at ₹2.01 lakh crore for the March 2023 quarter. The outstanding credit was ₹1.81 lakh crore at the end of March 31, 2022, Yes Bank said in a regulatory filing. The lender registered a 12.9 per cent growth in deposits excluding Certificate of Deposits (CDs). Another private sector lender Karnataka Bank posted a 6.1 per cent increase in total loans to ₹61,326 crore, while deposits grew by 8.69 per cent to ₹87,362 crore.

RailTel Corporation of India: RailTel Corporation of India, a Mini Ratna PSU under the Ministry of Railways, on Wednesday said that it has received a work order worth about ₹38.95 crore by the NIC Centres for Point-to-Point lease line connectivity of 4 Mbps to 19 immigration centres throughout the country. This order has been received from National Informatics Centre Services Inc (NICSI), a unit under the state-owned NIC. The work order is for a one-year period.

Avenue Supermarts: Avenue Supermarts Ltd, which runs the retail chain DMart, on Wednesday reported that its revenue from operations for the quarter ended March 2023, stood at ₹10,337 crore. This is a 20% jump from ₹8,606.09 crore revenue from operations reported in the corresponding quarter last fiscal. The total number of stores as of 31 March 2023 stood at 324, said Radhakishan Damani led Avenue Supermarts in its regulatory filing.

Godrej Consumer Products: FMCG major Godrej Consumer Products Ltd on Wednesday said it expects to report mid-single-digit consolidated volume growth and double-digit operating profit growth for the quarter ended March 2023. The company said that the growth trends continue to improve sequentially, in its regulatory filing. Godrej Consumer Products said that it expects the quality of profit should see improvement, led by gross margin recovery and continued marketing investments translating to double-digit EBITDA growth.