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Business News/ Markets / Stock Markets/  Stocks to Watch: M&M, Reliance, ONGC, Aurobindo Pharma, Maruti Suzuki

Stocks to Watch: M&M, Reliance, ONGC, Aurobindo Pharma, Maruti Suzuki

Adani Transmission, HeidelbergCement India, Torrent Power, Force Motors, Essar Shipping, Sobha, and Zee Media Corp will be among the stocks in focus as they will be declaring their March quarter earnings today.

Stocks to Watch for MondayPremium
Stocks to Watch for Monday

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

Mahindra & Mahindra: Mahindra & Mahindra Ltd (M&M) Friday posted an 18% rise in fiscal fourth-quarter consolidated net profit buoyed by robust sales of sport-utility vehicles (SUVs) and tractors. Profit in the three months ended March stood at 2,637 crore. Revenue grew 25% to 32,366 crore from the year-earlier quarter. The company declared a dividend of 16.25 per share with a face value of 5, a 325% payout. M&M clocked its highest-ever automobile sales of 698,000 vehicles in FY23, an increase of 50%, and record tractor sales of 404,000 units during the year.

Reliance Industries: Reliance Consumer Products Ltd (RCPL), the fast-moving consumer goods arm and a wholly-owned subsidiary of Reliance Retail Ventures Ltd (RRVL), on Friday, announced its entry into the western snacking category with the launch of General Mills’ Alan’s Bugles brand of chips in India in a move that is set to give competition to PepsiCo and ITC. Alan’s Bugles is a brand of corn chips owned by American packaged consumer goods firm General Mills and available across major global markets.

ONGC: Oil and Natural Gas Corporation (ONGC) announced its Q4FY23 results on May 26, reporting a consolidated net profit of 5,701 crore, down 53%, compared to 12,061 crore in the corresponding period last year. The state-run petroleum giant's revenue from operations during the January-March quarter stood at 164,066.72 crore, registering a growth of five per cent, compared to 155,946.99 crore in the year-ago period. ONGC's consolidated turnover stood at Rs.6,84,829 crore in FY23, compared to 5,31,793 crore in FY22.

Aurobindo Pharma: Aurobindo Pharma earned a consolidated net profit of 505.9 crore in Q4 of FY23, declining by 12.2% from a profit of 576.1 crore a year ago same quarter. Sequentially, Aurobindo's PAT climbed by 3% from the profit of 491 crore in December 2023 quarter. EBITDA before R&D stood at 1,412.9 crore in Q4FY23, rising by 0.5% YoY and 3.2% QoQ respectively. EBITDA margins came in at 15.5% in Q4FY23, contracting as against 16.8% in Q4FY22 but were up from a margin of 14.9% in Q3FY23.

Maruti Suzuki: Maruti Suzuki India expects production loss to continue in the first quarter with some relief anticipated in the July-September period as it continues to grapple with the shortage of electronic components. The country's largest carmaker has been facing a shortage of chips for a while which has impacted its supplies to cater to the market demand."Our loss in the third quarter of the last financial year was around 45,000 units. Similarly, we lost around 38,000 units in the fourth quarter," Maruti Suzuki India Senior Executive Officer (Sales and Marketing) Shashank Srivastava said in an interaction.

Sun Pharma: Through a reverse triangular merger, Sun Pharmaceutical Industries has proposed to buy out all of Taro Pharmaceutical Industries' shares. Sun Pharma will purchase the shares in the all-cash deal for US $38 per ordinary share, which will be paid in full at the completion of the proposed transaction. According to Sun Pharma's filing to the markets, the proposed price reflects a premium of 31.2% over Taro's closing price on May 25, 2023, and a 41.5% premium over Taro's average closing price over the previous 60 days.

Bajaj Electricals: Bajaj Electricals is increasing its play in the premium range in appliances and other segments. It expects the revenue contribution from upscale products to rise as it has lined up several new launches, MD & CEO Anuj Poddar said. The company has recently launched a new brand 'Nex', which will target upscale urban consumers with its premium range of appliances. Despite a slowdown in some segments, Bajaj Electricals will have new product launches in the premium space and in Morphy Richards in the latter half of this year.

Karnataka Bank: Mangalore-based private sector lender, Karnataka Bank's net profit more than doubled to 353.75 crore in the fourth quarter of FY23 on a year-on-year basis. This is despite a sharp increase in provisions, and also gross NPA jumped sequentially. The lender recorded a growth of 171.38% in Q4FY23 PAT compared to a profit of 130.35 crore in Q4FY22. Sequentially, the growth stood at 17.65%. NII came in at 860.05 crore in Q4FY23 -- registering a growth of 27.15% from NII of 656.49 crore in Q4FY22.

Vodafone Idea: Vodafone Idea Ltd promoters are ready to put in additional equity investments, chief executive Akshaya Moondra said, adding that discussions with external investors have picked up pace over the past month after the conversion of equity by the Indian government, with at least three such ongoing discussions. In a conference call after its March quarter earnings, the top boss of the Aditya Birla Group-promoted carrier said that it was working to raise funding from external investors, which was held up due to a delay in the equity conversion by the government.

Samvardhana Motherson: Automotive component manufacturer Samvardhana Motherson International (SAMIL) on Friday reported a huge 438 per cent growth in its net profit to 654 crore in the March quarter of FY23, on the back of the strong booked business. Sequentially, profit after tax grew 44%. Motherson posted the highest-ever quarterly and yearly revenue. The revenue rose 30% to 22,477 crore in the fourth quarter of FY23. For FY23, revenue growth was 23% to 78,701 crore, which the company said was the highest-ever yearly revenue.

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Published: 29 May 2023, 07:17 AM IST
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