Top Stocks in Focus: Adani Total Gas, Newgen Software, YES Bank, Vodafone Idea and More

The domestic stock market concluded positively on Monday, with the Sensex surging by 1241 points to reach 71,941, and the Nifty gaining 385 points to close at 21,737. Today's spotlight is on the following companies set to release their earnings for the December 2023 quarter on January 30: Larsen & Toubro, Dr. Reddy's Laboratories, Bajaj Finserv, PB Fintech, Arvind, Astral, Adani Total Gas, Blue Star, Cochin Shipyard, Coromandel International, Gillette India, JBM Auto, J Kumar Infraprojects, KEC International, KPIT Technologies, Mahindra & Mahindra Financial Services, Piramal Pharma, Keystone Realtors, Shyam Metalics and Energy, SRF, Strides Pharma Science, Star Health and Allied Insurance Company, Symphony, Triveni Engineering & Industries, VIP Industries, and Voltas.

ITC

ITC has announced a 6.5% increase in its consolidated net profit (attributable to owners) for the quarter ending on December 31, 2023. The net profit has risen to Rs 5,335 crore from Rs 5,007 crore in the same period last year. The consumer goods giant has benefited from higher demand for its products, which include cigarettes and noodles, among others.

YES Bank

Arun Agrawal has resigned as the Country Head of Institutional and Government Banking, citing personal reasons. The bank has accepted Agrawal's resignation, effective January 29.

NTPC

The largest power generation company in the country has reported a 2.1 percent year-on-year increase in standalone net profit, amounting to Rs 4,572 crore for the quarter ending December FY24. The growth was driven by weak operating numbers and lower topline. On the other hand, standalone revenue from operations in Q3 decreased by 4.7 percent to Rs 39,455.3 crore compared to the same period last year.

Godfrey Phillips India

The manufacturer of cigarette and tobacco products reported a net profit of Rs 212.4 crore during Q3, representing a 6.6 percent increase compared to the same period in the previous fiscal year. The revenue from operations also grew by 36 percent YoY, reaching Rs 1,250 crore for the quarter.

Bajaj Finance

Bajaj Finance has reported a 22.40% YoY increase in its consolidated profit for Q3 of FY24. The profit figure reached Rs 3,638.95 crore in Q3 FY24, up from Rs 2,973 crore during the same period in the previous fiscal year. The company's revenue from operations also grew by 31.28% to Rs 14,161.09 crore in Q3 FY24, compared to Rs 10,787.25 crore in Q3 FY23.

Vodafone Idea

The telecom operator posted a net loss of Rs 6,986 crore for the December quarter, against a loss of Rs 8,738 crore in the previous quarter. Revenue fell 0.4% sequentially to Rs 10,673.1 crore.

Mahindra Logistics

The company logged a net loss of Rs 16.4 crore from Rs 15.5 crore last year. Revenue climbed 5.1% at Rs 1,397.2 crore. However, EBITDA slipped 17.1% to Rs 52.2 crore, and margin dropped to 3.7% from 4.7% last year.

Havells India

The executive committee has approved an investment of up to $20 million in Havels International Inc., a wholly-owned subsidiary incorporated in Delaware. The funds will be used to leverage new growth opportunities in the US.

Marico

The FMCG company clocked a 16% rise in consolidated net profit of Rs 386 crore in the December quarter, from a year ago despite a lower topline. Consolidated revenue from operations declined nearly 2% to Rs 2,422 crore.

GAIL

GAIL has reported a significant increase in its consolidated net profit, reaching Rs 3,193.34 crore in the third quarter of the financial year 2023-24, as a result of a softening in liquefied natural gas (LNG) prices from the previous year. In the same period last year, the consolidated net profit stood at Rs 397.59 crore. Furthermore, the net profit has sequentially risen by 31 percent from Rs 2,442.18 in the quarter ended September 2023.

Piramal Enterprises

The company has recently released its financial report for the December quarter. Unfortunately, the report revealed a consolidated net loss of Rs 2,377.6 crore compared to a profit of Rs 3,545.4 crore from the previous year. This was primarily due to an exceptional loss of Rs 3,539.8 crore from the company's investments in alternative investment funds. Furthermore, revenue from operations also fell by nearly 12% year-on-year to Rs 2,476 crore.

Newgen Software

The company's subsidiary has been awarded a seven-year project for digital product development, operational support, and related services to support the digitization of Singapore, with a total value of nearly Rs 97 crore.