Stocks to Watch: SBI, Zomato, Paytm, Airtel, M&M, Vedanta, GAIL
Here are the top stocks that could be in focus in today's trade:
Zomato: Food aggregator platform Zomato turned profitable for the first time ever in the first quarter (Q1) of 2023-24 (FY24). The firm reported a consolidated profit after tax of Rs 2 crore compared to a loss of Rs 186 crore in the year-ago period. Revenue from operations grew 71 percent year-on-year.
Bharti Airtel: Leading telecom operator Bharti Airtel touched the magical ARPU figure of Rs 200 a month for the first time in a decade. Meanwhile, it reported a flat consolidated net profit of Rs 1,612 crore in Q1FY24.
Lupin: Pharma major Lupin recorded a consolidated net profit of Rs 453.33 crore for the June quarter of FY24, as against a consolidated net loss of Rs 86.8 crore reported in the same period a year ago. While revenue surged nearly 29 percent YoY, Ebitda's margin jumped to 18.5 percent, up 1,190 basis points from last year.
Eicher Motors: The two-wheeler maker reported a 50 percent surge in consolidated net profit at Rs 918.34 crore for Q1FY24. The company claimed that this is its best-ever Q1 performance and is also the fourth consecutive quarter of highest-ever revenue from operations and PAT.
Paytm: Fintech company Paytm said its average monthly users rose by 19 percent on-year to 93 million. Merchant subscriptions stood at 8.2 million, with 4.1 million new subscriptions over the year, according to the filing. The fintech platform doled out 4.3 million loans in the month of July, making the total value of loans distributed in the month to Rs 5,194 crore, at a whopping yearly growth of 148 percent.
CDSL: The company has informed the exchanges that a warning letter, dated July 31, 2023, has been issued by Sebi against the company, which was received on August 3.
Torrent Power: Torrent Power Ltd (TPL) has entered into an agreement with subsidiaries of Shapoorji Pallonji & Company Private Limited (SPCPL) for the supply of 132 MW of solar power in Gujarat. The estimated project cost is Rs 700 crore. Separately, Torrent Power has forayed into the electric mobility infrastructure segment with four charging stations in Gujarat. The first set of charging stations has been installed in Ahmedabad.
GAIL (India): GAIL (India) is close to finalizing a long-term liquefied natural gas (LNG) import deal with Qatar to buy at least 1 million metric tons per year, potentially for more than 20 years, Reuters has reported. The deal would be part of GAIL's plans to lock in new supply contracts by 2030 to diversify its gas imports and hedge against supply disruptions like those seen after Russia's invasion of Ukraine last year when LNG prices surged to a record high.
Vedanta: S&P Global Ratings revised the credit outlook for Vedanta Resources Ltd to negative, citing increased funding risks. The agency has affirmed the 'B-' rating for the company.
Piramal Pharma: The company's revenue from operation grew by 18 percent YoY in Q1FY24 to Rs 1,749 crore, driven by broad base performance across all three businesses – CDMO, CHG, and ICH. Meanwhile, It narrowed its net loss to Rs 99 crore from Rs 109 crore YoY. Ebitda's margin climbed to 10 percent relative to 6 percent in Q1FY23.
LIC Housing Finance: LIC Housing Finance reported a 43 percent YoY rise in net profit at Rs 1,324 crore for the June quarter, while it clocked 28 percent YoY growth in interest income at Rs 6,304 crore. LIC HF has appointed T Adhikari as the managing director for five years, effective August 3.
Mahanagar Gas: MGL reported a two-fold increase in consolidated net profit to Rs 368.4 crore in Q1FY24 on account of a decline in domestic gas and LNG prices. Revenue from operations increased marginally to Rs 1,690 crore, while Ebitda came in at Rs 560.22 crore. MGL's total gas sales volume for the quarter slipped to 3.412 mmscmd from 3.448 mmscmd in Q1FY23.
Deepak Nitrite: The company reported a 36.1 percent YoY decline in net profit to Rs 149.9 crore for Q1FY24. Ebitda declined 41.1 percent YoY to Rs 209.7 crore, while Ebitda's margin shrank to 11.9 percent vs in 17.3 percent YoY.
HCC: The Board has approved raising funds up to Rs 300 crore via Rights Issue.
NBCC: The company won a contract worth Rs 301 crore to construct a hostel-cum-residential block at the University of Delhi.
JM Financial: The board approved the appointment of Nishit Shah as the Chief Financial Officer in place of Manish Sheth, effective October 1.
