Stocks to Watch: Adani Transmission, Mahindra Finance, Dabur, PNB, JSW Steel
- Adani Enterprises, Bank of India, HDFC, HPCL, Vodafone Idea, UCO Bank and Raymond will be among the stocks in focus as they declare their September quarter earnings today.
Here is the list of the top 10 stocks that will be in focus today:
Adani Transmission: Adani Transmission on Wednesday reported a 32% dip in its consolidated net profit at ₹194 crore in the September quarter compared to a year ago, mainly due to adverse forex movement adjustment. The company explained in a statement that in the second quarter of FY23, consolidated PAT (profit after tax) or net profit of ₹194 crore was lower year on year. The consolidated net profit of the company was ₹289 crore in the quarter ended on September 30, 2021.
JSW Steel: JSW Steel is aiming at expanding its capacity to 50 million tonnes from the existing 27 million tonnes by 2030, its group chairman Sajjan Jindal said here on Wednesday. The expansion will be in both greenfield and brownfield projects. JSW group will bid for PSUs like Rashtriya Ispat Nigam Ltd (RINL) and iron-ore producer NMDC Ltd’s steel plant as and when they are divested, Jindal said.
JK Paper: JK Paper on Wednesday reported a more than two-fold increase in consolidated net profit at ₹326.93 crore in the second quarter of FY23, helped by higher sales volume and enhanced sales realisation. The company had logged a net profit of ₹118.38 crore in the July-September period a year ago, JK Paper said in a regulatory filing. Its revenue from operations went up 72.34% to ₹1,722.63 crore. It stood at ₹999.51 crore in the corresponding quarter last year.
Punjab National Bank: Punjab National Bank (PNB) is on track to achieve the target to recover ₹32,000 crore from bad loans in the current fiscal year, MD & CEO Atul Kumar Goel said on Wednesday. The recovery target is of ₹32,000 crore for the current fiscal year and it comes at around ₹8,000 crore per quarter, Goel told reporters in a post-quarterly earnings call. "In the June quarter, we have recovered ₹7,057 crore. In the September quarter, the total recovery was ₹8,564 crore," Goel said.
Dabur India: FMCG giant, Dabur shares will turn ex-dividend on November 3. The company has announced a dividend of 250% for its shareholders and has fixed November 4th as the record date. Thus, the shares will turn ex-dividend a day before the record date. Dabur posted a decent second quarter for FY23 with the foods and beverages business leading the growth. The majority of experts have suggested buying Dabur shares with a target price between ₹600 to ₹700 going ahead.
Mahindra Finance: Mahindra & Mahindra Financial Services (Mahindra Finance) on Wednesday reported an over 55% decline in its net profit at ₹492 crore in the quarter ended September 2022. In the year-ago same quarter ended September 2021, it had posted a net profit of ₹1,103 crore. Total income increased 3% to ₹3,029 crore during the quarter under review against ₹2,951 crore during the corresponding quarter last year, it said in a release.
Manali Petrochemicals: Petrochemical manufacturing firm Manali Petrochemicals Ltd reported a standalone profit after tax (PAT) at ₹11.71 crore for the second quarter ending September 30, 2022, the company said on Wednesday. The company which is a part of AM International, Singapore, had reported a standalone PAT at ₹119.62 crore during the corresponding quarter in the previous year. The standalone revenue during the quarter under review stood at ₹267.22 crore, as against ₹407.80 crore during the same period last financial year.
Dalmia Bharat: Cement maker Dalmia Bharat Ltd on Wednesday reported a 76.84% decline in consolidated net profit at ₹47 crore for the quarter ended September. The company had posted a net profit of ₹203 crore during the July-September quarter a year ago, Dalmia Bharat said in a regulatory filing. Its revenue from operations increased 15.11% to ₹2,971 crore in the second quarter of the current fiscal. In the year-ago period, the same stood at ₹2,581 crore.
TCI: Indian logistics and supply chain management company Transport Corporation of India (TCI) plans to strengthen its operations in neighbouring Nepal and Bangladesh while expanding to Sri Lanka. The move is part of the company’s plan to become a major logistics player in the South Asian region that is witnessing booming trade and, with it, the potential for greater movement of goods.
Mahindra Holidays: Mahindra Holidays & Resorts India Ltd on Wednesday reported a 30% decline in consolidated profit after tax at ₹41.39 crore in the second quarter ended September 30, 2022, impacted by higher expenses. The company had posted a consolidated profit after tax of ₹59.76 crore in the same period last fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.
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