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Business News/ Markets / Stocks to Watch: Protean eGov Tech, CIL, LIC, Eicher Motors, ONGC, Biocon

Stocks to Watch: Protean eGov Tech, CIL, LIC, Eicher Motors, ONGC, Biocon

Grasim Industries, Manappuram Finance, NRB Bearings, Vardhman Holdings, Advani Hotels, and Narayana Hrudayalaya will be in focus as they will be declaring their quarterly earnings today.

Stocks to watch for Monday (REUTERS)Premium
Stocks to watch for Monday (REUTERS)

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

Protean eGov Technologies: The listing date of the IPO of Protean eGov Technologies Limited has been fixed on 13th November 2023 i.e. on Monday. As per the information available on BSE, the public issue will be listed on BSE and NSE in a special pre-open session during Monday deals. While stock market experts and allottees are busy assessing the possible listing gain from the Protean eGov Technologies Limited IPO, the grey market is also dropping some hints about the possible premium for allottees.

Coal India: The country’s largest coal supplier reported a 9.85% increase in revenue and a 12.51% increase in profit year-over-year during the September quarter. Thr results were declared post-market hours on Friday. The positive performance indicates the company's ability to generate higher revenue and profitability compared to the same period last year. The operating income of Coal India witnessed a significant decline of 25.78% quarter-over-quarter.

LIC: LIC declared their Q2 FY24 results on 10 November 2023, post-market hours. The top line decreased by 9.2% & the profit decreased by 49.35% YoY. As compared to the previous quarter, the revenue grew by 6.85% and the profit decreased by 16.65%. The Selling, general & administrative expenses rose by 55.58% q-o-q & decreased by 41.47% Y-o-Y.

Eicher Motors: The Royal Enfield motorcycle maker reported a 54.7% rise in its net profit to 1,016 crore in the September quarter of financial year 2023-24, on Friday post-market hours Its larger-than-expected rise in second-quarter profit was led by strong sales amid burgeoning demand for premium motorcycles. The automaker had reported a net profit after tax of 657 crore in the July-September quarter of last fiscal.

ONGC: ONGC released its July-September quarter results for fiscal 2023-24 (Q2FY24) on Friday, November 10, post-market hours. ONGC reported a surge of 142 per cent in consolidated net profit at 16,553 crore, compared to 6830 crore in the corresponding period last year. The state-run petroleum giant's revenue from operations during the second quarter of the current fiscal stood at 146,873.73 crore, registering a decline of 13 per cent, compared to 68,656.12 crore in the year-ago period.

Biocon: Biocon, a leading biopharmaceutical company, announced its Q2 FY24 results on November 10, 2023, post-market hours. The company reported a significant increase in both revenue and profit compared to the previous year. The topline increased by 49.26% year-on-year (YoY), while the profit saw a remarkable growth of 167.8% YoY. In comparison to the previous quarter, Biocon witnessed a moderate revenue growth, with a 1.16% increase, and a substantial increase in profit, with a growth of 23.87%.

SAIL: SAIL declared its Q2 FY24 results on 10 November 2023 post market hours. The topline increased by 13.2% & the profit came to 1305.59cr. It is noteworthy that the Steel Authority Of India had declared a loss of R329.36cr in the previous fiscal year same period. As compared to the previous quarter, the revenue grew by 21.98%. The Selling, general & administrative expenses rose by 9.83% q-o-q & increased by 10.31% Y-o-Y.

Apollo Hospitals: Apollo Hospitals reported announced its expansion plans and announced a 250-bed new hospital in Pune (expandable to 425 beds in 2 years) at an overall cost of 675 crores. The Hospital is expected to be commissioned by Ql FY25. The commissioning capacity in a few quarters from now is positive as will start contributing to the business, said analysts. Apollo is already undergoing an expansion of around 2200 hospital beds.

Sun TV Network: Sun TV declared their Q2 FY24 results on 10 November 2023. The results were declared post-market hours. The topline increased by 26.98% & the profit increased by 14.06% YoY. As compared to the previous quarter the revenue declined by 22.29% and the profit decreased by 21.51%. The Selling, general & administrative expenses rose by 4.7% q-o-q & increased by 6.52% Y-o-Y.

United Spirits/Som Distilleries/Sula Vineyards/Globus Spirits: As the festive fervour of Diwali and the unfolding wedding season, India’s alcoholic beverages industry is gazing at a varied landscape, with different states presenting a mixed bag of opportunities and challenges. Industry insiders project contrasting scenarios across states, influenced by state-level changes. Delhi, Karnataka, Pondicherry and Kerala are likely to see the impact of policy or duty changes.

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Published: 13 Nov 2023, 07:24 AM IST
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