Stocks to Watch: Reliance, Vodafone Idea, Emami, OIL, Zee Entertainment

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

Reliance Industries: Reliance Retail is best positioned to lead in India’s $150 e-commerce market in the long run, analysts at Bernstein said in a report dated 24 May. The report essentially gives Reliance an edge over incumbents such as Amazon and Flipkart in the long run given the former’s extensive retail network and digital capabilities including its heft with Jio mobile services. Currently, India’s e-commerce market is led by the big two—Flipkart and Amazon—that corner an estimated 60% market share.

Vodafone Idea: Vodafone Idea narrowed losses to ₹6418 crore for the quarter ended March 2023, versus ₹6563 crore in the same quarter last year and compared to ₹7990 crore in the previous quarter. The loss-making carrier said that it was in talks with lenders for additional debt funding and with external investors for equity or equity-linked fundraising. The No 3 carrier improved quarterly revenues and recorded growth in annual revenues for the first time since the merger of Vodafone and Idea Cellular in 2018, it said in a statement.

Emami: FMCG major Emami Limited on Thursday posted a 60 per cent drop in consolidated net profit to ₹142 crore for the quarter that ended March 2023, on muted demand. The company posted a consolidated net profit of ₹354 crore in the corresponding period of FY22. Revenue from operations during the quarter was up 9% to ₹836 crore, from ₹768 crore registered in Q4 of FY22. The company attributed the decline in net profit to muted demand for personal care products and excessive rainfall in many parts of the country in March, which impacted the demand for summer products.

Zee Entertainment: Zee Entertainment reported a net loss of ₹196 crore, compared to a net profit of ₹181 crore in the corresponding period last year. The media giant's revenue during the January-March quarter came in at ₹2,112.1 crore, registering a decline of 9%, compared to ₹2,323 crore in the year-ago period. On the operating front, the company's EBITDA during the fourth quarter stood at ₹151.7 crore, registering a plunge of 71.2%, compared to ₹526.4 crore in the same period last year.

Oil India: State-run Oil India Ltd (OIL) is in discussion with London-headquartered Tullow Oil to acquire a stake in its Kenya block. Addressing the media on Thursday, “Some discussion is going on," said Oil India chairman Ranjit Rath, without elaborating further on the matter. Tullow Oil has been looking for a strategic investor for its onshore oil project in Kenya. ONGC Videsh Ltd (OVL) previously held discussions in July last year with Tullow Oil. After the July meeting, Tullow said the parties had agreed to hold further discussions on the matter.

Ircon International: Ircon International Ltd on Thursday said it has posted a 25 per cent growth in its profit after tax at ₹248.18 crore during the March quarter, helped by higher income. It had clocked ₹197.09 crore profit after tax (PAT) during the January-March quarter of the 2021-22 financial year (FY), Ircon International said in a statement. The total revenue of the company rose 31.72 per cent to ₹3,773.97 crore from ₹2,865.12 crore in the year-ago quarter.

Max India: Max India has authorized an investment of ₹294 crore in its fully owned subsidiary firms, namely ₹177 crore for Antara Senior Living and ₹117 crore for Antara Assisted Care Services, to fulfil their funding and business expansion needs, according to reports. In the March FY23 quarter, the company recorded a consolidated loss of ₹4.18 crore, which is an increase from ₹1.08 crore in the corresponding period of the previous year. However, there was a 12.6% YoY growth in revenue from operations, reaching ₹56.35 crore for the quarter.

Gujarat State Fertilisers & Chemicals: During FY22-23 the company recorded a net revenue of ₹11,445 Cr up by 25% YoY from ₹9,178 Cr in FY 21-22. Gujarat State Fertilisers & Chemicals said operating EBIDTA surged 23% YoY from ₹1,313 Cr in 12MFY22 to ₹1,618 Cr in 12MFY23. The firm broke its previous record of Rs.1305 Crores in FY 21–22 by 20% and recorded its highest PBT of ₹1568 Crores in FY 22–23. The highest-ever PAT figure climbed by 45% from ₹891 crore to Rs. 1293 crore.

TTK Prestige: During Q4FY23 its net income stood at ₹627.94 Cr down by 11.67% YoY from ₹710.88 Cr in Q4FY22. During the quarter ended March 2023, its net profit reached ₹59.45 Cr down by 25.71% YoY from ₹80.02 Cr during the quarter ended March 2022. The EPS of TTK Prestige reached ₹4.29 during the quarter under review down by 25.65% YoY from ₹5.77 in the year-ago quarter. During the financial year ended March 2023, its net income reached ₹2822.79 Cr up by 2.37% YoY from ₹2757.50 Cr in FY22.

Reliance Home Finance: Reliance Home Finance Ltd’s debenture holders have filed a contempt case against Authum Investment and Infrastructure Ltd, (AIIL) Reliance Home, and IDBI Trusteeship, alleging “wilful disobedience" of the Supreme Court’s 3 March order. Mint has reviewed a copy of the petition. The SC had authorized AIIL to implement its proposed resolution plan to turn around the company as part of Reliance Home’s corporate insolvency resolution process, in accordance with the Reserve Bank of India’s prudential norms.