BackStocks to Watch: HCL Tech, HFCL, ICICI Lombard, Polycab, Jupiter Wagons
IndusInd Bank, Havells India, AU Small Finance Bank, HDFC Asset Management, Inox Leisure, Nestle India, and Ultratech Cement will be in focus as they declare their September quarter earnings today.
PremiumHere is the list of the top 10 stocks that will be in focus today:
HCL Tech: HCL Technologies will be turning ex-dividend on October 19 ahead of its record date to determine eligible shareholders for the third interim dividend payout of ₹10 per share. HCL Tech posted healthy second quarterly results which have led the company's shares to perform on the upside bias. Since its Q2 announcement, HCL Tech shares have jumped by more than 6% on Dalal Street. The majority of experts are optimistic about HCL Tech shares.
L&T Technology Services: L&T Technology Services reported a net consolidated profit increased by 22.7% to ₹282 crore in Q2 from ₹230 crore in the same quarter the previous year. The company reported a net profit of ₹274.2 crore in Q1 of the current financial year and a 5.6% sequential rise in its earnings before interest, tax, depreciation, and amortisation (EBITDA) to ₹362.8 crore in Q2 from ₹343.3 crore in Q1.
HFCL: Domestic telecom gear maker HFCL's consolidated net profit remained flat at ₹84.31 crore for the quarter ended September 30, 2022, as per a filing. The company had posted a net profit of ₹85.94 crore in the same period a year ago. The consolidated revenue from operations increased to Rs. 1173 crore in Q2FY23 from Rs. 1122 crore in Q2FY22., it added.
ICICI Lombard: Private sector non-life player ICICI Lombard General Insurance on Tuesday reported a 32.2% growth in net profit at ₹591 crore for the September quarter, boosted by a tax reversal of ₹128 crore. The ICICI Bank group company said excluding this tax reversal, net income inched up by 3.4%. In the year-ago quarter, the company had booked a net income of ₹447 crore.
Samvardhana Motherson: Sojitz Corporation on Tuesday divested a 2.83% stake in auto component major Samvardhana Motherson International for ₹825 crore through an open market transaction. According to the bulk deal data available with the BSE, Sojitz Corporation offloaded 12,80,00,000 shares, amounting to a 2.83% stake in the company. The shares were disposed of at an average price of ₹64.53 apiece, taking the transaction value to ₹825.98 crore.
Polycab India: Wires and cables manufacturer Polycab India (PIL) on Tuesday reported a 36.72% growth in consolidated profit during the September quarter at ₹270.45 crore. The company's profit stood at ₹197.80 during the corresponding quarter of 2021-22, it said in a regulatory filing. Revenue from operations of the company during the quarter under review grew by 10.83% to ₹3,332.35 crore as against ₹3,006.55 crore in the year-ago period.
Jupiter Wagons: Jupiter Wagons Ltd (JWL) on Tuesday said it has been selected as the successful resolution applicant of Stone India Limited which used to supply engineering products to Indian Railways. Stone India is now delisted from trading. Lenders filed for insolvency after the company failed to repay its dues. Stone India will strengthen JWL’s offerings for railways, including brake systems and other engineering products.
KPI Green Energy: KPI Green Energy on Tuesday posted a jump of over 72% in its consolidated net profit to ₹21.15 crore in the September quarter mainly on the back of higher revenues. The consolidated net profit of the company was ₹12.25 crore in the year-ago period, a BSE filing showed. The total income of the company rose to ₹160.14 crore in the quarter under review from ₹57.69 crore in the previous year.
Adani Enterprises: The Adani Group on Tuesday said that it agreed to acquire Air Works, one of India’s major centres for the maintenance, repair and overhaul (MRO) of aircraft. The Adani Group forayed into the aviation sector in 2019 by winning bids for six airports. In 2021, the group took over the management of Mumbai and Navi Mumbai airports. As a result, the group handles more than 20% of the passenger traffic in India.
Tata Motors: Tata Motors on Tuesday said it has received an order for 200 electric buses which will be deployed in Jammu and Srinagar. The Mumbai-based auto major has won the tender of 200 electric buses floated by Jammu Smart City Ltd, it said in a statement. The automaker will supply 150 units of 9-metre and 50 units of 12-metre Starbus electric buses, it added.
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