Home / Markets / Stock Markets /  Stocks to Watch: Adani Total, Airtel, Adani Power, L&T, Tata Steel

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

Adani Total: France's TotalEnergies has put on hold a planned investment in Adani Group's USD 50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller, chief executive Patrick Pouyanné said on Wednesday. While the partnership where the French oil giant was to take a 25 per cent stake in the hydrogen venture of the Adani group was announced in June last year, TotalEnergies has not yet signed a contract, he said at an earnings call.

Bharti Airtel: Bharti Airtel on Wednesday said it has entered a strategic partnership with Vultr, the world’s largest privately-held cloud computing company, to deliver cloud solutions to enterprises in India. Airtel will offer Vultr’s extensive suite of cloud solutions to its enterprise customers, especially those in the digital space and help them gain unrivalled global reach and cost-performance advantage to build, test, and run demanding cloud workloads, the service provider said.

Adani Power: Adani Power, an Indian power and energy company, which is part of Adani Group, on Wednesday said its consolidated net profit dipped by 96% on-year to 8.7 crore for the quarter ended 31 December 2022 (Q3FY23). The company reported a profit of 218.5 crore in the same quarter last year. In the September quarter of this financial year, Adani Power reported a 401.6% rise in consolidated profit after tax (PAT) at 695.53 crore as against 230.6 crore loss in the corresponding quarter last year.

Hero MotoCorp: Hero MotoCorp, India’s largest two-wheeler maker, has set sights on an accelerated product plan for its electric vehicle (EV) business under the Vida brand. The company aims to develop a new range of EVs in the next 18-20 months to expand its portfolio and cater to different segments of the electric two-wheeler market, including more affordable or “mainstream" products, Swadesh Srivastava, Head of the Emerging Mobility Business Unit said in a post-earnings call with analysts on Wednesday.

Tata Steel: TV Narendran, the chief executive officer and managing director of Tata Steel, said the UK government has offered a counter-package to the steel giant against its proposal seeking a financial package to execute its decarbonisation plans for its plant in Port Talbot. The Tata Steel CEO & MD believes there is a big gap between what the company had asked for and what the British government has offered. However, he is yet to share any details of the government's offer.

L&T: The Ministry of Defence on Wednesday approved the proposal to indigenously manufacture 41 sets of Modular Bridges for the Corps of Engineers of the Indian Army. The move is seen as a boost to the indigenization of defence equipment under PM Modi. The defence ministry called it a game-changing bridge which is designed and developed by Defence Research and Development Organisation (DRDO) and shall be produced by Larsen & Toubro (L&T) as a DRDO-nominated production agency.

NHPC: State-owned hydro power giant NHPC Ltd has reported a 12.59% decline in its consolidated net profit to 775.99 crore for the December quarter, compared to 888 crore in the year-ago period. Total income rose to 2,582.76 crore in the quarter ended 31 December from 2,156.72 crore a year ago. Operating margin declined to 38.28% in Q3 FY23 from 44.53% in Q3 FY22. Also, the net profit margin was reduced to 30.04% in Q3 FY23, compared to 41.21% in the year-ago quarter. The company’s board has declared an interim dividend of 1.40 per share for the financial year 2022-23.

Cummins India: Cummins India said in a stock exchange filing that “the Board of Directors at their meeting held on February 08, 2023, have declared an Interim Dividend of Rs.12/- per equity shares on 277,200,000 equity shares (Face Value Rs. 2/- each) for the Financial Year 2022-23. The Dividend warrants for the said interim dividend will be dispatched by March 06, 2023, and the dividend will be paid on March 08, 2023." For the payment of the interim dividend (FY 2022-23), the company has fixed February 21, 2023 (Tuesday) as the record date.

Equitas SFB: Equitas Small Finance Bank on Wednesday reported a 57% rise in net profit to 170.11 crore for the quarter ended December 2022. This is against a net profit of 108.11 crore in the year-ago period. The net interest income (NII), which is the difference between interest earned and expended, rose 19.7 per cent to 647.5 crore from 540.8 crore year-on-year (YoY). NIM’s stable at 9.01 per cent. The disbursement for the December quarter stood at 4,797 crore, a growth of 68% YoY. While the total deposits grew 31 per cent on a year-on-year basis to 23,393 crore.

Vishnu Chemicals: Hyderabad-based Vishnu Chemicals is looking to raise up to 400 crore via QIP (qualified institutional placement), a senior executive with direct knowledge of the fundraising plans told Mint. The company’s board is set to meet on Friday to give a go-ahead. The speciality chemical maker is looking to raise the funds within the next two quarters and has roped in Emkay Financial Services as an advisor for the same, the person quoted above said, requesting anonymity.

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout