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Business News/ Markets / Stock Markets/  Stocks to Watch: Airtel, Adani Ports, Hero MotoCorp, ONGC, Vodafone Idea

Stocks to Watch: Airtel, Adani Ports, Hero MotoCorp, ONGC, Vodafone Idea

Adani Power, Adani Wilmar, Equitas SFB, HCL Infosystems, Samvardhana Motherson International, and Piramal Pharma will be among the stocks in focus as they declare their December quarter earnings today.

Asian stocks rose as earnings from companies including Fanuc Corp. boosted sentiment. Photo: Reuters Premium
Asian stocks rose as earnings from companies including Fanuc Corp. boosted sentiment. Photo: Reuters

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

Bharti Airtel: Bharti Airtel’s consolidated net profit missed estimates even as it rose 91% to 1,588.2 crore for the quarter ended December 2022 from 829.6 crore the same quarter last year, but down by 26% from September quarter’s profits of 2,145 crore, on the account of the exceptional charge of 501 crore of a license fee of one of the group’s subsidiaries. Revenues also missed estimates, rising by more than 20% on-year to 35,804 crore with more 4G customer additions coupled with sustainable growth in postpaid and enterprise segments, and by 3.6% on-quarter from 34,526 crore in the September quarter.

Hero MotoCorp: Two-Wheeler maker Hero MotoCorp on Tuesday posted a net profit of 711 crore for the October-December quarter (Q3FY23), as compared to 686 crore during the same quarter last year. This is about a 3.6 per cent increase in net profit on a year-on-year basis. The company's revenue from operations for the quarter came in at 8,031 crore as against 7,883 crore during Q3 FY22, recording an increase in revenue of 1.8 per cent.

Adani Ports: Adani Ports & Special Economic Zone Ltd. will repay a debt of around 50 billion rupees ($604.6 million) as tycoon Gautam Adani takes steps to improve a leverage metric and corporate governance at his firms following a short seller attack that has put its financial health under scrutiny. The repayment in the year starting in April will improve net debt to earnings before interest, taxes, depreciation, and amortization ratio to about 2.5 times, the company said in an earnings statement on Tuesday. The ratio stands at just over 3 times currently.

ONGC: State-run Oil and Natural Gas Corporation Limited (ONGC) is in talks with global oil majors to new technologies in its aggressive exploration push in the deep waters of India. The Maharatna held a parley of discussions with major operators in the India Energy Week in Bengaluru during 6-8 Feb 2023. ONGC held discussions with the American oil and gas giant ExxonMobil, the Norwegian energy multinational Equinor, the American oil services conglomerate Baker Hughes, and the French research organization Institut Français du Pétrole on various issues like Technology, and Deepwaters.

Vodafone Idea: Telecom operator Vodafone Idea on Tuesday said that the company's board of directors has approved the allotment of 16,133,184,899 equity shares to the government. This approval means that the government holds 33.44 per cent of Vodafone Idea. The government on Friday directed Vodafone Idea Ltd to issue equity shares against interest on deferred adjusted gross revenue (AGR) and spectrum dues of 16,133 crore that it owes. The equity conversion plan comes more than a year after the government made the initial decision.

Bayer CropScience: Bayer CropScience Ltd (BCSL) on Tuesday posted a 58.60% increase in its net profit for the December quarter of the fiscal year 2023 at Rs134.5 crore. During the corresponding quarter of the previous fiscal year, BCSL’s net profit was 84.8 crore. In a regulatory filing, Bayer CropScience said its revenue from operations rose 4.82% to Rs1,037.9 crore during the December quarter as against Rs990.1 crore in the same period a year ago.

Adani Green: Adani Green on Tuesday reported a net loss of 127 crore for the quarter ended December 2022. This is against a net loss of 79 crore in the corresponding quarter last fiscal. Revenue from operations for the sale of goods and related services dipped by 59 per cent to 917 crore from 2,268 crore in the year-ago period, said Adani Green in its filing. Adani Green's sale of energy for the December quarter increases by 59% YoY at 10,235 Mn units.

Astral Pipes: The firm announced its Q3 earnings along with a 1:3 bonus share issuance. The post-bonus paid-up equity share capital is anticipated to be somewhere around Rs. 26,86, 11,572/- comprising of 26,86, 11,572 equity shares of Re. 1/- each. The pre-bonus paid-up equity share capital as of the date is 20,14,58,679/- consisting of 20, 14,58,679 equity shares of 1. By the estimated date of April 6, 2023, or within two months after the date of board approval, such bonus shares would be credited.

Adani Total: Adani Total Gas Ltd., one of India’s largest distributors of natural gas, said its expansion and spending plans remain unchanged amid the crisis roiling the wider group. “Our plans are intact," Chief Executive Officer Suresh P. Manglani told Bloomberg Television in an interview Tuesday in Bengaluru. “Our expansions are happening and our revenue is building up." The joint venture between Adani and TotalEnergies SE has planned for almost 15000 crore ($1.8 billion) of capital spending over the next seven years to fund new growth, Manglani said.

JK Lakshmi Cement: Continuing its journey towards improving energy efficiency and driving sustainability as part of its ‘Green Pahal, Behtar Kal’ campaign, JK Lakshmi Cement on Tuesday signed an agreement with Amplus Solar to set up a 56 MWp solar power plant for its Durg facility, located in Chhattisgarh. With this initiative, JK Lakshmi Cement in the very first year will be able to replace 92 million units with green electricity that will help reduce its CO2 emissions by 73,000 Metric Tons, equivalent to over 33 Lakhs trees saved.

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Published: 08 Feb 2023, 07:26 AM IST
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