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Business News/ Markets / Stock Markets/  Stocks to Watch: LIC, Zomato, Grasim, Apollo Hospitals, RVNL, Ircon
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Stocks to Watch: LIC, Zomato, Grasim, Apollo Hospitals, RVNL, Ircon

Here are a few stocks likely to be in focus on Friday, February 9:

The NSE F&O ban list for February 9 includes Aurobindo Pharma, Biocon, Punjab National Bank, Ashok Leyland, Balrampur Chini Mills, Delta Corp, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, SAIL and UPL. Zee Entertainment Enterprises has been removed from the list. Photo: MintPremium
The NSE F&O ban list for February 9 includes Aurobindo Pharma, Biocon, Punjab National Bank, Ashok Leyland, Balrampur Chini Mills, Delta Corp, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, SAIL and UPL. Zee Entertainment Enterprises has been removed from the list. Photo: Mint

Life Insurance Corporation of India: The company saw a 49% year-on-year increase in net profit during the December quarter of FY24 at 9,444.4 crore compared to 6,334.2 crore during the same period last year. It was mainly driven by an increase in net income from investments and growth in net premium income. India’s largest insurer’s net premium income grew by 4.6% to 1.17 trillion compared to 1.11 trillion in Q3FY24. The company's board proposed an interim dividend of 4 per share for FY24, with the record date set for 21 February 2024. Additionally, LIC's net income from investments during the December quarter rose by 12% year-on-year to 95,266.8 crore from 84,869 crore in Q3FY2023, while management expenses increased by 32% year-on-year to 18,193.8 crore.

Grasim Industries: The flagship company of Aditya Birla Group reported a 39.80% decline in its consolidated net profit for Q3FY24 at 1,514.44 crore, down from 2,515.78 crore a year ago. “Financials from previous period are not comparable on account of the acquisition of a 9.99% stake by ADIA entities in Aditya Birla Health Insurance," the company said in an exchange filing. Consolidated operating revenue rose 11.61% to 31,965.48 crore in Q3FY24, from 28,637.86 crore in Q3FY23, driven by the performance of key subsidiaries UltraTech Cement and Aditya Birla Capital. On a standalone basis, the textile manufacturer reported a decline of 8.17% in net profit from 257 crore a year earlier to 236 crore.Stand-alone revenue from operations rose 3% to 6,400 crore from 6,196 crore a year earlier.

Zomato: The online food delivery platform reported a consolidated net profit of 138 crore, compared to a net loss of 347 crore in the year-ago period. Zomato's revenue from operations for the quarter came in at 3,288 crore, up 69% from 1,948 crore in the year-ago period. Total expenses were higher at 3,383 crore, compared to 2,485 crore in the corresponding period a year ago, the company said. Revenue from its mainstay food delivery business grew 48% for the quarter, while revenue from its quick commerce division more than doubled. Zomato's contribution margin - a key profit metric - expanded to 7.1% in Q3FY24 from 6.6 per cent in Q2FY24 due to the introduction of a fee for customers to use the food delivery platform.

Bombay Dyeing and Manufacturing: The Indian realty-to-textile company reported a consolidated profit of 30.54 billion ($368 million) in the Q3FY24, compared to a loss of 1.01 billion rupees last year. Total expenses fell by 39.4% to 4.60 billion, largely due to a nearly 99% fall in inventories of finished goods, while its input costs also dropped 4.3%. This helped the company to reduce its loss before exceptional item by 27.2% to 731.6 million rupees. The Mumbai-based company's primary revenue-generating segment, polyester, which accounted for about 95% of its revenue, fell by 11%. This resulted in a 43.4% decline in its revenue from operations at 3.69 billion rupees.

Apollo Hospitals: Beating market expectations, Apollo Hospitals Enterprises reported a whopping 60% rise in consolidated net profit (attributable to shareholders) at 245 crore in the quarter ending December FY24, compared to a net profit of 153.5 crore in the year-ago period. Apollo Hospitals also declared an interim dividend of 6 per share on Thursday. Its consolidated revenue from operations increased by 13.8% YoY to 4850.6 crore in Q3FY24 against 4263.6 crore in Q3FY23.

IRCON International: The company reported a rise of 29% in its consolidated net profit at 244 crore in Q3FY24, compared to 190 crore in the year-ago period. The state-run engineering and construction firm's revenue from operations for the quarter rose 23% at 2,884 crore, compared to 2,346 crore in the same period last year. It also declared an interim dividend of Rs.1.80 per equity share on the face value of 2 each (90 per cent of the paid up equity share capital) for the financial year 2023-24. The company's EBITDA during the December quarter rose 63.2 per cent to Rs.378.1 crore, compared to Rs.231.7 crore in the year-ago period, while EBITDA margin stood at 12.6 per cent.

Escorts Kubota: The Indian tractor maker reported a smaller-than-expected third-quarter profit on Thursday, as lower demand offset the fall in costs. Escorts Kubota's standalone net profit rose nearly 49% to 2.77 billion (about $33 million) for Q3FY24, but fell short of analysts' expectations of 2.82 billion, per LSEG data. Revenue rose 2.5% to 23.20 billion, the slowest growth since at least March 2022.

Rail Vikas Nigam: The public sector undertaking reported a decline of 6.2% in net profit at 358.6 crore in Q3FY24, compared to 382.4 crore in the yar-ago period. RVNL's revenue from operations in the quarter fell 6.4% to 4,689.3 crore, compared to 5,012.1 crore in the same period last year. On a sequential basis, the company's net profit fell 9.1 per cent from 394.4 crore during the quarter ending September 2023. Revenue from operations also declined 4.6 per cent quarter-on-quarter from 4,914.32 crore during the September quarter. On the operating front, RVNL's EBITDA during the quarter declined 9.6% to 249 crore, compared to 275 crore in the year-ago period, while EBIT margin came in at 5.3 per cent compared to 5.5 per cent in the same period last year.

Biocon: Biocon Limited reported net profit of 660 crore in Q3FY24, compared to a net loss of 42 crore in the same quarter of the previous year. Apart from this, the firm reported a 34% rise in revenue at 3,954 crore, compared to 2,941 crore in the same quarter of the previous year. EBITDA came in at 926 crore, up from 644.3 crore in the year-ago period, while EBITDA margin was at 23.4% against 21.9% in the year-ago period.

MMTC: The company reported a net loss of 42.89 percent at 55.71 crore in the December quarter of FY24, against 97.55 crore during the previous quarter ended December 2022. Sales declined 99.90 percent to 0.73 crore in the quarter ended December 2023, compared to 763.16 crore during the same quarter in previous year, the firm said a regulatory filing. Total revenue too declined to 63.33 crore in Q3FY24 compared to 788.09 crore in the same period last year.

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Published: 09 Feb 2024, 07:29 AM IST
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