Stocks to Watch: HUL, IndiGo, Sun Pharma, RIL, Adani Group, GAIL
- Parsvnath Developers will be among the stocks in focus as it will declare its December quarter earnings today.
Here is the list of the top 10 stocks that will be in focus today:
Hindustan Unilever Ltd: Hindustan Unilever Ltd (HUL) on Friday announced that it has signed an agreement for the sale of its atta and salt business under ‘Annapurna’ and ‘Captain Cook’ brands for ₹60.4 crore. The brands are being sold to Uma Global Foods Pte Ltd., and Uma Consumer Products Private Ltd., which are subsidiaries of Reactivate Brands International, a Singapore-headquartered company and an affiliate of CSAW Aqbator Pte Ltd (Singapore). HUL’s decision is in line with the company’s intent of exiting non-core categories while continuing to drive its growth in the packaged foods business of dressings, scratch cooking and soups, the company said in a statement on Friday.
InterGlobe Aviation: IndiGo, has announced a new partnership with Turkish Airlines, which is part of its expansion plans. It had already ordered nearly 500 aircraft. This move is expected to improve passenger services from India to Istanbul and beyond. “Currently flying 1,800 flights a day & 10% of them on international routes. Farthest we travel is to Turkey, Istanbul & is keen to fly far," said Vinay Malhotra, Head of International Sales, IndiGo. As part of its new codeshare partnership with Turkish Airlines, IndiGo will be able to carry passengers from India to Istanbul and then to over 27 destinations in Europe.
Sun Pharma: Drug major Sun Pharma has announced that it has acquired a 26.09% stake in Agatsa Software Private Limited, which is an early-stage digital diagnostic devices company, for ₹30 crore in two tranches. The acquisition will be made in two tranches wherein Tranche 1 -- ₹8 crore -- would be completed in February 2023 and Tranche 2 -- up to ₹22 crore -- is expected to be completed by August 2023, subject to certain conditions, the company said in a filing. The Mumbai-based company has also acquired 27.39% of Remidio Innovative Solutions Private Limited, which provides innovative products enabling the early detection of eye diseases, for ₹149.9 crore.
Reliance Industries: Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) have secured approval for their joint bid to acquire debt-ridden textiles maker Sintex Industries from the National Company Law Tribunal (NCLT). The Ahmedabad bench of the NCLT gave an oral order on Friday approving the resolution plan submitted by RIL and ACRE. Sintex industries in a regulatory filing said, "NCLT has orally pronounced an order" on Friday "approving the resolution plan submitted jointly by Reliance Industries Limited and Assets Care & Reconstruction Enterprise Ltd."
Adani Group: The Adani group’s decision to club non-current investments and security money put up against bank guarantees as part of cash equivalents has raised concerns among analysts about whether the new classification portrays an accurate picture of the group’s ability to meet financial obligations. In a 14 February filing to the exchange, the Adani group said it had ₹31,646 crore ($3.9 billion) in cash and cash equivalents as of 31 December 2022.
CRISIL: The rating agency, CRISIL posted a consolidated net profit of ₹158 crore in the fourth quarter of the year 2022, rising by 17.5% from ₹134.5 crore in the corresponding quarter of the previous year. While consolidated income from operations came in at ₹822.3 crore in Q4 CY22 as against ₹706 crore a year ago same period, registering a growth of 16.5%. CRISIL follows a calendar year for reporting its financial results. For the year ended December 31, 2022 period, CRISIL's PAT stood at ₹564.4 crore versus ₹431.7 crore in the same period last year, recording a rise of 30.7%.
PI Industries: The company said in a stock exchange filing that the Board of Directors “has declared an Interim Dividend at the rate of Rs. 4.5 per share (i.e. 450 %) on the Equity Shares of the Company carrying face value of Re.1/- each for the financial year 2022-23 and the same shall be paid on or before March 15, 2023. In Q3FY23, PI Industries reported net sales of ₹1,613.20 crore on a consolidated basis, up by 18.94% from Rs. 1,356.30 crore in Q3FY22. The company's net expenses reached ₹1263.7 crore in Q3FY23 compared to ₹111,3.40 Cr reported in the year-ago quarter.
Samvardhana Motherson International: Samvardhana Motherson International Ltd (SAMIL) subsidiary on Sunday announced it has entered into an agreement to acquire a 100% stake in SAS Autosystemtechnik GmbH, (Germany) having an enterprise value of 540 million euros. Samvardhana Motherson Automotive Systems Group BV (SMRPBV) is the subsidiary of SAMIL, which has entered into an agreement with the SAS company from Faurecia, a company of the FORVIA Group. The transaction will be funded by a mix of debt and internal accruals.
Gail India: India's biggest gas firm GAIL is looking to buy up to 26 per cent stake in an LNG project in the United States in an attempt to shore up supply sources to meet rising demand. GAIL (India) Ltd, had run into supply disruptions last year after Russia-owned Gazprom Marketing and Trading (GMTS) failed to deliver contracted LNG due to western sanctions on Moscow over its invasion of Ukraine. The company has issued a tender seeking expression of interest (EoI) from operators of existing liquefied natural gas (LNG) liquefaction plants or proposed projects in the US that will be commissioned by 2027.
Biocon: Biotechnology major Biocon is recalling 3,665 bottles of antifungal medication in the US market for “failed degradation specifications", according to the US Food and Drug Administration (USFDA). In its latest Enforcement Report, the US health regulator said that the Bengaluru-based firm is recalling 3,665 bottles of Posaconazole Delayed-Release Tablets (100 mg, 60-count bottle), used to treat serious fungal infections like invasive aspergillosis.
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