Stocks To Watch On February 13: Equity markets succumbed to revenue reserving on Monday as benchmark indices closed decrease. In in the present day’s commerce, shares of Hindalco, ZEE, Eicher Motors, Coal India, JSW Energy amongst others might be in focus due to company earnings and varied different developments. Here’s a full record of shares to observe
Results Today
Shares of Hindalco, ZEE, and Eicher Motors might be in focus in the present day as the businesses will announce their third-quarter outcomes.
Coal India: The firm reported a 17% improve in its consolidated web revenue at Rs 9,069 crore for the quarter ending on December 31, 2023, in contrast to Rs 7,755 crore recorded within the corresponding interval final 12 months. Revenue from operations skilled a modest 3% 12 months-on-12 months development at Rs 36,154 crore in Q3FY24, as opposed to Rs 35,169 crore reported throughout the identical interval final 12 months. The board has additionally introduced a second interim dividend of Rs 5.25 per share for FY24.
Eicher Motors: The firm is probably going to report sturdy Q3FY24 outcomes, with stable double-digit web revenue development and excessive single-digit income development, aided by robust gross sales volumes in Royal Enfield bikes and its business automobiles portfolio, when it pronounces its third-quarter outcomes on Tuesday, February 13. According to analyst estimates, Eicher Motors is predicted to announce a 29.49% YoY improve in consolidated web revenue at Rs 959.28 crore. Revenue is probably going to have jumped 8.24% to Rs 4,027.74 crore. EBITDA margin can be anticipated to rise by 319 bps to 26.19 per cent.
Steel Authority of India: The PSU’s consolidated web revenue dropped 22% to Rs 422.92 crore for the December quarter, in contrast to the Rs 542.18 crore recorded in the identical quarter final 12 months. Revenue from operations for the quarter stood decreased 6% to Rs 23,348.64 crore, from Rs 25,042.10 crore a 12 months in the past, SAIL stated in an trade submitting on February 12. Crude metal manufacturing within the quarter got here in at 4.75 million tonne versus 4.71 million tonne reported in the identical quarter final 12 months. The public sector unit additionally declared an interim dividend Rs 1 per fairness share of Rs 10 every.
Mazagon Dock Shipbuilders: The firm noticed its web revenue soar 76% YoY to Rs 592 crore in Q3FY24. Its income through the December quarter gained 30% YoY to Rs 2,363 crore, whereas EBITDA elevated 71% to Rs 808 crore. Finance prices fell to Rs 1.29 crore within the quarter from Rs 1.48 crore within the earlier 12 months. Sub-contract bills plunged to Rs 143.81 crore from Rs 224.69 crore within the corresponding quarter of the earlier 12 months. Other venture-associated bills fell to Rs 40.58 crore from Rs 41.47 crore within the earlier 12 months. The firm’s order guide as of December 2023, stood at Rs 38,389 crore.
Hindalco Industries: The firm’s subsidiary Novelis recorded a web earnings attributable to widespread shareholders of $121 million for the quarter ended December FY24, rising 10-fold over $12 million within the 12 months-in the past interval. Net gross sales decreased 6% YoY to $3.9 billion for the third quarter of the fiscal 12 months 2024, pushed by decrease common aluminium costs as shipments had been in step with prior-12 months ranges.
Aurobindo Pharma: The firm anticipates a $20-million hit within the January-March 2024 quarter, due to a short lived pause of producing and distribution actions at its essential Eugia Unit-III formulation facility in Telangana, following sure crimson flags raised by the US drug regulatory company FDA within the just lately concluded inspections. The firm stated it’s planning to resume manufacturing operations in a phased method beginning with non-aseptic strains. The FDA issued Form 483 with 9 observations towards the power on the conclusion of the inspection on February 2. The firm, as an “abundant caution”, placed on maintain manufacturing at sure strains. The firm, in its earnings name on Monday, stated the observations are associated to sure gaps within the “aseptic process and documentation”.
Dilip Buildcon: The building and infrastructure improvement firm registered a 3.3% 12 months-on-12 months decline in consolidated revenue at Rs 107.4 crore regardless of wholesome topline, and working numbers. Revenue from operations through the quarter at Rs 2,876.8 crore elevated by 23.87% over a 12 months-in the past interval.
Paytm: Reserve Bank of India (RBI) governor Shaktikanta Das on Monday dominated out any evaluation of the central financial institution’s motion towards Paytm Payments Bank, saying the choice was taken after a number of consideration and a complete evaluation of the lender’s functioning. The RBI on January 31, had directed PPBL to cease accepting deposits or prime-ups in buyer accounts, wallets, FASTTags and different devices after February 29 citing giant scale non-compliance of rules and supervisory considerations. “At the moment let me say very clearly, there is no review of this decision,” Das stated at a press convention after a gathering of the RBI’s central board of administrators. The assembly was additionally addressed by finance minister Nirmala Sitharaman.
Bandhan Bank: One of the Big Four accounting agency EY is conducting a forensic audit on a portion of Bandhan Bank’s mortgage guide backed by authorities ensures, two individuals conscious of the event stated. The audit was commissioned by the National Credit Guarantee Trustee Co. (NCGTC), a state-run entity that operates and manages varied credit score assure belief funds of the federal government. It will cowl Bandhan Bank’s loans of round Rs 23,000 crore. NCGTC has requested EY to test whether or not the financial institution used two totally different authorities ensures for a similar set of loans, discover faux debtors if any; determine window-dressing or evergreening of loans, and test whether or not the loans had been ineligible for the federal government schemes.
Jindal Steel & Power: The firm’s environmental software to develop an iron-ore mine in South Africa at a value of as a lot as $2 billion was rejected just lately. The firm will enchantment the choice, Parshant Kumar Goyal, the final supervisor for mines and enterprise improvement at Jindal Africa, stated when known as by Bloomberg. The software was refused due to “extensive gaps in the environmental impact assessment in the context of constitutional rights,” All Rise, an environmental authorized group, stated in a press release on Monday.
