Stocks to watch: Shares of firms like Infosys, IRCTC, Wipro, RIL, Axis Bank, TVS Motors, Tech M, and others will focus on Friday’s trade.
Stocks to watch on January 17: On the weekly expiration day, domestic markets traded within a narrow range and ended slightly higher, marking the third consecutive day of consolidation. Key stocks like Reliance Industries (RIL), Infosys, IRCTC, Wipro, Jio Financial, and BPCL are likely to remain in focus due to recent developments and Q3 results.
Earnings to watch on January 17: Several companies will announce their quarterly earnings today, including Wipro, Tech Mahindra, SBI Life Insurance, ICICI Lombard General Insurance, Indian Hotels, Jio Financial Services, Release India, Ramakrishna Forgings, Supreme Petro. Chem, Sterlite Technologies, Swaraj Engines, Seshasay and PA Board are included. Steel Strips Wheels, Ether Industries, 5 Paisa Capital, Concorde Enviro Systems, Sanathan Textiles, Pune Sugars (Erod), Mamta Machinery, and MRO-Tech Realty.
Lists: Capital Infra IPO (Mainline) and Satkartar Shopping IPO (SME) are all set to list on the markets today.
Reliance Industries: For Q3, Reliance Industries reported a consolidated net profit of Rs 18,540 crore, up 7.39% YoY from Rs 17,265 crore. Revenue grew 7.02% YoY to Rs 2,44,000 crore, while EBITDA grew 7.71% YoY to Rs 43,789 crore. EBITDA margin improved slightly to 17.96%, up 0.13 percentage points from last year.
Infosys: Infosys posted a consolidated net profit of Rs 6,810 crore for Q3, up 4.77% QoQ from Rs 6,500 crore, as per estimates. Revenue rose 1.85% QoQ to Rs 41,760 crore, beating estimates of Rs 41,300 crore. EBIT grew 3.03% QoQ to Rs 8,912 crore, with EBIT margin at 21.34%, up 0.24 percentage points.
Access Bank: Axis Bank’s Q3 standalone net profit rose 3.83% YoY to Rs 6,304 crore, beating estimates. Interest income rose 10.71 percent to Rs 30,950 crore. The bank reported a marginal increase in gross NPA to 1.46% and net NPA to 0.35%. Provisions declined by 2.18% to Rs 2,156 crore compared to the previous quarter.
IRCTC: IRCTC has appointed Sudhir Kumar as Chief Financial Officer, effective January 16.
Havel’s India: For Q3, Havells India reported a consolidated net profit of Rs 278 crore, down 3.47% YoY from Rs 288 crore. Revenue grew 10.75% YoY to Rs 4,889 crore, while EBITDA declined 1.62% to Rs 426 crore. EBITDA margin declined to 8.71%, down 1.10 percentage points from last year.
LTIMindtree: LTIMindtree’s Q3 net profit declined 13.2% QoQ to Rs 1,085 crore, missing estimates of Rs 1,120 crore. Revenue rose 2.78% QoQ to Rs 9,661 crore, slightly ahead of estimates. EBIT declined 8.28% QoQ to Rs 1,339 crore, with an EBIT margin of 13.76%, down from 15.46% in the previous quarter.
Metro Brands: For Q3, Metro Brands reported a standalone net profit of Rs 94.1 crore, down 1.67% YoY from Rs 95.7 crore. Revenue grew by 11.69% to Rs 688 crore, while EBITDA grew by 13.20% to Rs 223 crore. EBITDA margin improved slightly to 32.41%.
TVS Motors: TVS Motors announced its entry into the Moroccan market in partnership with Hindi Motors, launching a range of two-wheelers including the TVS NTORQ 125, TVS Raider 125, and TVS Apache 160 and 200.
Bharat Petroleum Corporation (BPCL): BPCL secured a Rs 31,802 crore loan deal with an SBI-led consortium for expansion of its petrochemical complex and refinery at Bina.
AIA Engineering: AIA Engineering subsidiary Vega ME plans to expand its manufacturing facilities in China and Ghana and is exploring locations in Indonesia. The company aims to add 100,000 MTPA capacity with an investment of $50 million (Rs 410 crore), which is expected to be completed in three years.
Bajaj Healthcare: The company secured a new contract to manufacture, market and sell magnesium L-threonate in the Indian market.
Hatsun Agro Products: For Q3, Hatsun Agro’s standalone net profit fell 28.71% YoY to Rs 40.9 crore. Revenue grew 6.30% yoy to Rs 2,009 crore, while EBITDA rose 0.47% to Rs 214 crore. EBITDA margin declined to 10.65% from 11.27% YoY.
HFCL: HFCL received an advance work order from BSNL worth Rs 2,501 crore.
Waaree Renewable Technology: Waaree Renewable Tech’s Q3 consolidated net profit fell 16.71% YoY to Rs 53.5 crore, while revenue grew 11.11% YoY to Rs 360 crore. EBITDA fell 18.11% YoY to 71.92 crores, EBITDA margin fell to 19.96% from 27.08% last year.
Spencer Retail: Spencer’s Retail’s Q3 net loss narrowed 7.62% to Rs 47.3 crore, with revenue down 20.49% YoY to Rs 520 crore. EBITDA rose marginally by 0.34% YoY to Rs 11.8 crore, with an improved EBITDA margin of 2.28%, up from 1.80% YoY.
Last Mile Enterprises: The company approved 1:10 sub-division of its equity shares.
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