Stocks to Watch: Adani Total, Adani Ports, IndiGo, Vodafone, NTPC, HAL
4 min read 16 Feb 2023, 07:19 AM ISTNestle India and Schaeffler India will be among the stocks in focus as they declare their December quarter earnings today.
PremiumHere are the top 10 stocks that could be in focus in today's trade:
Adani Total Gas and Adani Transmission: Index provider MSCI said it will postpone implementation of updates to the Foreign Inclusion Factors for two of Adani Group companies--Adani Total Gas and Adani Transmission, to the May index review. It said that the reversal of the updates to Adani Total Gas and Adani Transmission in the February Index Review will be reflected in the MSCI Index Product files starting today (16 Feb). MSCI will also apply a special treatment for all Adani Group's associated securities in the MSCI Equity Indexes starting from February 2023.
InterGlobe Aviation: Shobha Gangwal, the wife of IndiGo co-founder Rakesh Gangwal, is set to sell a 4% stake in India’s largest airline, worth $353 million, through a block deal scheduled for Thursday, according to deal terms reviewed by Mint. This is the second instance of a share sale by the Gangwal family in InterGlobe Aviation Ltd, which operates IndiGo, after selling a 2.8% stake in the airline for approximately $250 million in September. Gangwal family owned a 33.78% stake in the airline as of 31 December, stock exchange data showed.
Vodafone Idea: Vodafone Idea is in advanced discussions with telecom equipment makers for its 5G rollout strategy and will comply with minimum 5G rollout obligations, chief executive Akshaya Moondra said on Wednesday, indicating that the No. 3 carrier will launch its services in select cities soon. “We have live 5G clusters in Delhi and Pune where we have partnered with various OEMs to test the compatibility of available 5G handsets. Further, we are in advanced stages of discussion with various network vendors for finalization of the rollout strategy," Moondra said in a call to discuss December quarter results.
Adani Ports: Adani Ports and Special Economic Zone Ltd will discontinue lending money to non-group companies after having lent at least ₹12,687 crore last year, according to a Mint analysis. Instead, the Gautam Adani-controlled company will use surplus funds to cut its ₹44,000 crore debt pile. Adani Ports’ management disclosed the information to analysts from Pimco, Deutsche Bank, and JP Morgan Asset Management in response to queries regarding the nature of the loans extended to non-related parties or those not owned by the group promoter.
Vedanta: Anil Agarwal-backed mining company, Vedanta on Wednesday emerged as the preferred bidder for Sijimali Bauxite Block in Odisha. The block is seen as a strategic fit for Vedanta due to its size, location, and bauxite quality. As per the regulatory filing, Vedanta has been declared as the preferred bidder for the Sijimali Bauxite Block which is located in the Rayagada and Kalahandi districts of Odisha. The Mumbai-headquartered company wins the block under the mineral block auction conducted by the Government of Odisha.
NTPC: State-owned utility major NTPC Ltd has invited a request for proposal (RFP) for raising up to $750 million, or around ₹6,212 crore, through external commercial borrowings (ECBs) to fund its power projects, including those of renewable energy. The amount raised will be used for capital expenditure for ongoing or new capacity additions, including renewable energy projects, coal mining, and hydro projects. Proceeds will also be used to refinance existing ECB or rupee loans availed domestically.
Bharat Electronics: Navratna Defence PSU Bharat Electronics Ltd (BEL) has signed an MoU with Israel Aerospace Industries (IAI) for the domestic manufacture and supply of its Long Range Artillery Weapon System (LORA) for the Indian Tri-services. The state-of-the-art strategic weapon system will be manufactured by BEL, as the prime contractor, based on the workshare arrangement with IAI. The MoU, signed at the ongoing Aero India 2023 here, is an outcome of the growing partnership between India and Israel in the field of high technology strategic defence systems, and is in line with the Government of India’s 'Make in India' initiative for major weapon systems, a BEL statement said.
Paytm: Paytm Payments Banks Limited (PPBL) has launched UPI LITE, enabled by the National Payments Corporation of India for multiple small-value UPI transactions. The UPI LITE feature will help with faster real-time transactions with a single click through Paytm as the bank aims to drive the adoption of digital payments across the country. The NPCI designed the feature which was launched by the Reserve Bank of India (RBI) in September 2022.
Hindustan Aeronautics: Safran Helicopter Engines and Hindustan Aeronautics (HAL) have signed a workshare agreement for the joint development of the engine intended for the future 13-tonne Indian MultiRole Helicopter (IMRH) and its naval version Deck-Based MultiRole Helicopter (DBMRH), according to a joint statement from both companies. This agreement follows the memorandum of understanding signed on July 9, 2022, and stipulates the sharing of activities within the joint venture where both parties have agreed on an equivalent repartition, according to the statement shared with stock exchanges.
Pitti Engineering: Pitti Engineering Limited, a leading Engineering Company, has declared its financial results for the Quarter and Nine months ended December 31, 2022. Revenue from operations was at ₹ 239.08 crore in Q3FY23, as compared to ₹ 265.46 crore in Q3FY22. EBITDA increased by 13.24%, from ₹ 34.28 crore in Q3FY22 to ₹ 38.82 crore in Q3FY23. Net Profit was at ₹ 12.13 crore as compared to ₹ 11.60 crore in Q3FY22; which increased by 4.57%. Revenue from Operations has registered a growth of 24.99 %, to ₹ 854.67 crore in 9MFY23, as compared to ₹ 683.81 crore in 9MFY22.
