Stocks to Watch: HDFC, Pfizer, Adani Group, PVR Inox, P&G Health, Vedanta
4 min read 16 May 2023, 07:18 AM ISTBharti Airtel, Bank of Baroda, Jindal Steel and Power, Max Healthcare, LIC Housing Finance, and Kajaria Ceramics will be among the stocks in focus as they will be declaring their March quarter earnings today.
PremiumHere are the top 10 stocks that could be in focus in today's trade:
HDFC: Mortgage lender Housing Development Finance Corporation (HDFC)would issue bonds through a private placement to raise up to ₹8,000 crore and strengthen its financial position. Unsecured redeemable non-convertible debentures (NCDs) with a base size of ₹3,000 crore and an option to retain over-subscription of up to ₹5,000 crore would be issued. According to HDFC in a regulatory filing, the issue's objective is to increase the Corporation's long-term resources.
Pfizer: For the March quarter, Pfizer Ltd's standalone net profit rose 3.1% to ₹129.65 crore from ₹125.79 crore during the same period last year. The company's revenue from operations for Q4FY23 stood at ₹572.64 crore, up 4.2% on year from ₹549.66 crore in Q4FY22. On Monday, The company declared a final dividend of ₹35 per share and a special dividend of ₹5 per share for FY23. On a sequential basis, net profit for the fourth quarter of FY23 dropped by about 14%, from ₹150.66 crore to ₹129.65 crore.
Adani Group: The Supreme Court has adjourned the hearing of the plea filed by SEBI seeking a six-month extension to complete the probe on Adani Group to July 10. SEBI told the Supreme Court on May 15 that any incorrect or premature conclusion of its investigation into the Adani group's possible lapses of regulatory disclosures will be "legally untenable" and not "serve the ends of justice". SEBI, in a filing, said it has approached 11 overseas regulators for information relating to whether the Adani group has violated any norms regarding its publicly available shares.
PVR Inox: Multiplex PVR on Monday reported a consolidated net loss of ₹333.35 crore for the quarter ended March 2023. This is against a net loss of ₹105.49 crore in the corresponding quarter last fiscal. The company had clocked a profit of ₹16.1 crore in the preceding December quarter. The revenue from operations rose to ₹1143.17 crore for the quarter under review from ₹536.17 crore in the year-ago period.
P&G Health: Procter & Gamble (P&G) Health announced its Q4FY23 results reporting a net profit up ₹59 crore, registering a growth of 15.7 per cent, compared to ₹51.2 crore in the corresponding period last year. The company reported total sales of ₹316.3 crore in the January-March quarter, reporting an increase of 21 per cent compared to ₹262.2 crore in the year-ago period. The company reported a total revenue of ₹321 crore, posting a growth of 19.8 per cent, compared to ₹268 crore in the same period last year.
Vedanta: Vedanta on Monday said that it has appointed Sonal Shrivastava as its new chief financial officer (CFO). She joins the company on 1 June 2023. She will be joining Vedanta from the Holcim Group, where she had joined in 2002 and was the chief financial officer for the Asia Pacific, Middle East and Africa regions. Prior to this, she was the CFO of Amuja Cements Ltd. Shrivastava has more than 26 years of financial leadership experience across sectors.
Berger Paints: Berger Paints India posted a consolidated net profit of ₹185.7 crore in the quarter ending March 2023, registering a fall of 15.9% from ₹221 crore posted in the same quarter last year. The consolidated revenue in Q4FY23 rose 11.7% to ₹2,443.6 crore from ₹2,187.5 crore, YoY. EBITDA increased 6.4% to ₹368.7 crore from ₹346.5 crore, YoY, while EBITDA margin contracted to 15.1% from 15.8%, YoY. Berger Paints expects to continue its double-digit growth in the decorative business in the coming quarter.
Century Plyboards: Century Plyboards, the plywood and laminate sheets manufacturer, reported a consolidated net profit of ₹114.7 crore in the quarter ended March 2023. This is a sharp rise of 29.5% from a net profit of ₹88.5 crore posted in the same quarter last fiscal. The company’s consolidated revenue from operations in Q4FY23 rose 7.1% to ₹965.4 crore from ₹901.1 crore, YoY. At the operational level, EBITDA increased 2% to ₹163.8 crore from ₹160.7 crore, YoY, while EBITDA margin contracted to 17% from 17.8%, YoY.
Aeroflex Industries: Ashish Kacholia, a renowned capital markets investor and Bengal Finance and Investments Pvt Ltd purchased 4.05% of the equity shares of Aeroflex Industries Ltd, a key subsidiary of SAT Industries, on Monday, according to a stock exchange filing on the BSE and NSE. The total cost of the shares purchased was ₹40.56 crores. Aeroflex Industries produces and supplies environmentally friendly metallic flexible flow solution products for both domestic and international markets.
Suryoday Small Finance Bank: Suryoday Small Finance Bank on Monday posted a net profit of ₹39 crore for the March quarter of 2022-23 as bad loans fell. The bank had posted a net loss of ₹48 crore for the same quarter a year ago. Total income during Q4 FY23 rose to ₹363 crore from ₹257 crore in the same quarter of the previous year, Suryoday Small Finance Bank said in a regulatory filing. Interest income also increased to ₹329 crore from ₹237 crore in the same period a year ago.
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