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Business News/ Markets / Stock Markets/  Stocks to Watch: TCS, Vedanta, Ambuja Cements, ACC, Yes Bank, DLF

Stocks to Watch: TCS, Vedanta, Ambuja Cements, ACC, Yes Bank, DLF

Here are a few stocks likely to be in focus on Monday, April 15:

The NSE F&O ban list for Monday, April 15 includes GNFC, Metropolis Healthcare, Piramal Enterprises, Balrampur Chini Mills, Hindustan Copper, Vodafone Idea, India Cements, National Aluminium Company, and SAIL. (Photo: Mint)Premium
The NSE F&O ban list for Monday, April 15 includes GNFC, Metropolis Healthcare, Piramal Enterprises, Balrampur Chini Mills, Hindustan Copper, Vodafone Idea, India Cements, National Aluminium Company, and SAIL. (Photo: Mint)

Tata Consultancy Services: TCS kicked off the earnings season on a high, concluding FY24 with a March quarter that surpassed expectations. For Q4FY24, it posted a net revenue of $7.36 billion, marking a sequential increase of 1.1%, which aligns with analysts' growth predictions of up to 1.5%. The net profit for the same quarter stood at $1.5 billion, reflecting a sequential rise of 6.4%. FY24 net revenue witnessed a growth of 4.1% to reach $29.08 billion. The net profit for the entire year was $5.62 billion, marking a 7.7% increase from FY23's $5.22 billion. TCS also reported a 150 basis point expansion in operating margin in the final quarter of FY24, standing at 26%.

Vedanta: The company is looking to secure a funding of 3,900-4,000 crore from Power Finance Corp. The company has arranged a rupee term loan facility from the government-owned lender amounting to at least 3,918 crore, which could extend up to 4,000 crore, ACCording to two individuals familiar with the matter. This funds from the 11-year loan will primarily be utilized to augment the capacity of its two power plants located in Chhattisgarh and Andhra Pradesh. It aims to escalate the operational capacity of its power business in India to 4.8GW by FY27, from the current 2.58 GW.

Ambuja Cements, ACC: The Adani group, which owns Ambuja Cements and ACC Ltd, aims to secure approximately one-fifth of the Indian cement market by FY28. Adani Cement plans to execute its expedited capex program using internal accruals, ensuring the business remains debt-free, as per an investor presentation by Ambuja Cements. Furthermore, Adani Cement is intensifying its capacity expansion pace and anticipates a growth rate of 16 per cent to achieve 140 MTPA (million tonnes per annum) by FY2028. The Adani group firm stated in its presentation, "Adani Cement's market share is projected to increase to 20 per cent by FY28 from the current 14 per cent."

Glenmark Pharmaceuticals: The company is recalling 6,528 bottles of a high blood pressure treatment drug from the US market due to "failed dissolution specifications", as per the US FDA. The US health authority, in its recent Enforcement Report, stated that the US subsidiary of the Mumbai-based pharmaceutical firm is recalling a specific batch of Diltiazem Hydrochloride extended-release capsules. The regulator pointed out an "Out of Specification (OOS)" result was observed during a dissolution test at the 12-month mark in a long-term stability study.

Yes Bank: Japan's Mitsubishi UFJ Financial Group (MUFJ) and Sumitomo Mitsui Banking Corp. (SMBC) are looking to secure a majority stake in Yes Bank, as per four individuals privy to the matter. Another Middle Eastern firm has also expressed interest, three of the aforementioned individuals revealed. This comes as the State Bank of India-led consortium, which rescued the lender in 2020, is mulling over a plan to divest its stake. "It's still early days in the deal, and both MUFG and SMBC are assessing the opportunity, though no final decision has been made. Both are eager to strengthen their foothold in a burgeoning market like India," said one of the individuals. The second person added, "At present, MUFG's India strategy is robust, and they have also placed bets on local startups."

DLF: The company has initiated the construction of its new shopping mall in Gurugram, spanning 26-27 lakh square feet. This project, costing approximately 2,200 crore, is part of DLF's expansion strategy in response to the resurgence of retail consumption following the COVID-19 pandemic. DLF's Vice Chairman and MD (Rental Business), Sriram Khattar, confirmed the commencement of construction work for the 'Mall of India' in Gurugram at a recent CII conference on the real estate sector. He stated that the total size of this mall would be 26-27 lakh square feet and the investment would be around 2,200 crore.

Anand Rathi Wealth: The company reported a substantial year-on-year growth of nearly 33% in its net profit, reaching 56.6 crore for the quarter ending in March FY24, despite lackluster operating margins. The company's revenue from operations for the quarter also increased 29% to 184.3 crore, compared to the same quarter last year. The board of the company has given its approval for a final dividend of 9 per share for FY24 and has proposed a buyback of equity shares worth up to 164.65 crore.

PVR Inox: The multiplex operator is expanding its presence in the South, aiming to enhance its operational efficiency during a challenging period for the cinema industry due to content scarcity and reduced occupancies. "The Southern market constitutes 33 percent of our portfolio, which is 588 out of 1,741 screens. 40 percent of the screens opening in FY25 will be in the South. We aim to invest in regions with high consumption to ensure maximum returns. The average occupancy in the South is high," said Ajay Bijli, Managing Director of PVR INOX Limited.

Aster DM Healthcare: The company has announced a special dividend of 118 per share. This announcement comes in the wake of the company receiving proceeds from the sale of its GCC business and the redemption of redeemable preference shares that were issued to the company by Affinity Holdings, which is a wholly owned significant subsidiary of the company.

Varun Beverages: The company has commenced the production of carbonated soft drinks and energy drinks at its facility in Gorakhpur, Uttar Pradesh, according to an exchange filing on April 13. As of December 31, 2023, the company boasts 40 state-of-the-art manufacturing facilities, with 34 in India and 6 abroad. On February 5, Varun Beverages reported a consolidated net profit of 132 crore for the December quarter of FY24, a significant 77% rise from 75 crore in the same period the previous year. The total revenue for the quarter was 2,731 crore, marking a strong 21 percent increase from 2,257 crore in the corresponding quarter of the previous year.

Shilpa Medicare: Shilpa Medicare Ltd, a manufacturer of Active Pharmaceutical Ingredients (API), has successfully raised 500 crore via a Qualified Institutional Placement (QIP), as per a filing on April 13. The company's board sanctioned the allocation of 1.09 crore equity shares, each with a face value of Re 1, to qualified institutional purchasers. The issue price for the QIP was set at 455 per share, indicating a 4.68 percent markdown from the base price of 477.33 per share.

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Pranay Prakash
My experience as a Finance Journalist has involved working as a Web Producer and Sub Editor at a wire agency and business magazine, respectively, where I have curated various domain specific news pages, and later edited long-form, in-depth pieces on everything from India's corporates to the state of the economy, and various sectors. At Mint, I am involved in the editing of market copies and the curation of the live markets blog. Apart from the financial markets, my interest encompass topics related to the economy, the political economy of a growing economy, the space of policy design, and how it affects the wider economy and the decisions of corporates and consumers alike.
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Published: 15 Apr 2024, 08:20 AM IST
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