BackStocks to watch: ABFRL, Amara Raja, Tata Steel, Brigade, NBCC, Wockhardt
Here are a few stocks likely to be in focus on Wednesday, May 29:
PremiumAditya Birla Fashion and Retail: ABFRL reported a net loss of ₹266.4 crore for Q4, an increase from the previous year’s loss of ₹194.5 crore. The company’s revenue rose by 18.3% to ₹3,406.7 crore. EBITDA also increased by 47.1% to ₹283.7 crore, and EBITDA margin improved to 8.3% from 6.7%. The company stated that the results are not comparable with previous quarters due to the acquisition of TCNS Clothing and Styleverse Lifestyle.
Amara Raja Energy: The company reported a 61.4% YoY jump in net profit at ₹229.8 crore for Q4FY24. The company’s revenue from operations increased 19.5% to ₹2,908 crore.
Tata Steel: The company is expected to announce a 7.6% decrease in revenue from operations to ₹58,170 crore for Q4FY24. The company’s Q4 EBITDA is projected to decrease by 14% to ₹6,179 crore, and the profit after tax (PAT) is forecasted to fall sharply by 40% to ₹942 crore.
Brigade Enterprises: The company reported a 234.3% YoY jump in net profit at ₹210.9 crore for Q4FY24. The company’s revenue from operations increased by 102.04% to ₹1,702.4 crore. The EBITDA stood at ₹432.8 crore, and the EBITDA margin was 25.4%. The company’s total collections stood at ₹5,915 crore, up 9% over FY23.
One97 Communications: Gautam Adani, Chairman of Adani Group, is reportedly contemplating acquiring a stake in One97 Communications, the parent company of Paytm, according to The Times of India. The report suggests that Vijay Shekhar Sharma, Paytm’s founder and CEO, met with Adani in Ahmedabad on Tuesday to discuss the potential deal.
NBCC (India): The company reported a 24.6% YoY increase in net profit at ₹141.5 crore for Q4FY24. The company’s revenue from operations jumped 43% to ₹4,025 crore. EBITDA climbed to ₹240.2 crore, and the EBITDA margin was 6%.
Wockhardt: The company reported a net loss of ₹177 crore for Q4. The company’s revenue from operations increased 3.2% to ₹700 crore.
Indian Railway Catering and Tourism Corporation: IRCTC reported a rise of 2% in its consolidated net profit at ₹284 crore for Q4FY24. The company’s revenue from operations rose by 19% to ₹1,155 crore.
Hindalco Industries: Novelis Inc, a US-based subsidiary of Hindalco Industries, is aiming for a valuation of up to $12.6 billion by offering 45 million shares in its IPO in the United States. The IPO price band is estimated to be between $18 and $21.
Grasim Industries: Birla Group Holdings (BGHPL), one of the key promoters of Grasim Industries, has increased its stake from 19.10% to 23.18% in the company.
MedPlus Health Services: The company reported a 25.6% YoY increase in net profit at ₹33.4 crore for Q4FY24. The company’s revenue from operations climbed 19% to ₹1,490.4 crore. The EBITDA rose 29.4% to ₹105.7 crore, and the EBITDA margin was 7.1%.
Gujarat Narmada Valley Fertilisers & Chemicals: The company reported a 61.3% YoY decline in net profit at ₹130 crore for Q4. The company’s revenue from operations dipped 7.1% to ₹2,110 crore.
Reliance Industries: The company is reportedly debating which business will go public first, with Reliance Jio Infocomm being the likely candidate. Separately, the company has signed a one-year deal with Russia's Rosneft to buy at least 3 million barrels of oil a month in roubles, according to Reuters.
Cochin Shipyard: The company announced on Monday that it has secured an additional international order from UK-based North Star Shipping for the construction of hybrid Service Operation Vessels (SOVs) to be deployed at the Scottish Power Renewables East Anglia THREE offshore windfarm off the Suffolk coast. The contract also includes an option for two more vessels. Earlier this year, North Star had contracted another hybrid SOV with CSL.
PNB Housing Finance: Two shareholders of the housing finance company have been offered a 2.68% stake in the company, equivalent to 6.96 million shares, reported CNBC-TV18. The shareholders seek nearly ₹500 crore in share sale.
Canara Bank: The company announced that its board of directors will convene a meeting on Friday, May 31, 2024, to consider and approve its capital raising plan for financial year 2024-25.
ITC: The company’s hotel business demerger into a separate entity, ITC Hotels, is expected to unlock value for minority shareholders and improve return ratios of the FMCG major, as per reports of four proxy advisory firms.
PB Fintech: Foreign investor Tencent Cloud Europe BV sold 55 lakh equity shares in the Policybazaar operator at an average price of ₹1,208.2 per share, valued at ₹664.51 crore.
HDFC Life Insurance Company: Rangarajan BN has resigned as Chief Risk Officer of HDFC Life Insurance Company to pursue opportunities outside his professional life, effective July 15, 2024. The company's board has approved the appointment of Khushru Sidhwa as Chief Risk Officer of the company, effective July 16.
NMDC: The company will act as the distributor/stockist for NMDC Steel. It will take up the marketing and sales of HR coils, sheets, and plates of NMDC Steel.
Aarti Drugs: Mirik Rajendra Gogri, part of the promoter group of Aarti Drugs, sold 4,68,378 equity shares (equivalent to 0.5% of paid-up equity) in the company at an average price of ₹485.5 per share.
Prudent Corporate Advisory Services: Canara Robeco Mutual Fund, DSP Mutual Fund, and Kotak Mahindra Mutual Fund bought 22,05,573 equity shares (equivalent to 5.3% of paid-up equity) in Prudent Corporate Advisory Services at an average price of ₹1,650 per share, valuing the purchase at ₹363.9 crore.
Aster DM Healthcare: The company reported a net loss of ₹24 crore in Q4, a significant drop from a profit of ₹170.8 crore in the year ago period. Revenue grew by 20.65% to ₹973.6 crore and EBITDA jumped 28.5% to ₹159.3 crore. The margin expanded by 100 bps to 16.4%.
Dynamatic Technologies: The company saw a more than three-fold surge in profit to ₹57.11 crore YoY. Revenue grew slightly by 0.7% to ₹370.4 crore, and the company reported an exceptional gain of ₹44.68 crore.
Greenlam Industries: The company reported a 10.9% decline in Q4 net profit at ₹40.97 crore, while revenue rose by 16.9% to ₹624.09 crore. The company's finance cost doubled to ₹13.38 crore.
Engineers India: The company reported a 39.3% plunge in profit to ₹115.5 crore YoY, and revenue fell by 8.5% to ₹805.1 crore.
Epack Durable: The company reported a 16.5% fall in Q4 net profit to ₹27.8 crore YoY, and revenue dipped by 17.7% to ₹525.7 crore.
Supriya Lifescience: The company reported standalone Q4 revenue of ₹158.18 crore in March 2024, up 11.18% from ₹142.27 crore in March 2023. The quarterly net profit was ₹36.93 crore, down 3.39% from ₹38.23 crore in March 2023. EBITDA stood at ₹57.69 crore, up 1.19% from ₹57.01 crore in March 2023.
ITI: The company' loss widened to ₹238.8 crore YoY, with revenue declined by 22.4% to ₹601.3 crore. EBITDA loss rose to ₹173.8 crore.
Fineotex Chemical: The company reported standalone revenues of ₹118.47 crore in Q4FY24, up 29.47% YoY from Rs. 91.50 crore in March 2023. The quarterly net profit stood at Rs. 32.89 crore, up 119.23% from Rs. 15 crore in the previous year. EBITDA was Rs. 42.24 crore, up 100.76% from Rs. 21.04 crore in March 2023.
Hindware Home Innovation: The company reported a decrease standalone Q4 revenue at ₹109.16 crore in March 2024, down 22.31% from ₹140.50 crore in March 2023. The company faced a quarterly net loss of Rs. 27.87 crore, down 557.31% from Rs. 4.24 crore in March 2023. EBITDA stood negative at Rs. 30.41 crore, down 825.78% from Rs. 4.19 crore in March 2023.
Coastal Trawlers: The company saw an increase in standalone Q4 revenue at ₹112.29 crore in March 2024, up 51.8% from ₹73.97 crore in March 2023. However, the company reported a quarterly net loss of ₹5.20 crore, up 30.01% from ₹7.43 crore in March 2023. EBITDA was ₹1.48 crore, up 148.21% from ₹3.07 crore in March 2023.
Uflex: The company reported a slight decrease standalone Q4 revenue at ₹1,657.24 crore in March 2024, down 0.93% from ₹1,672.76 crore in March 2023. The quarterly net profit was ₹61.37 crore, down 25.79% from ₹82.70 crore in March 2023. EBITDA was ₹224.98 crore, down 3.11% from ₹232.20 crore in March 2023.
PTC Industries: The company reported a 60% YoY spike in Q4 net profit to ₹14.7 crore, and revenue rose by 16.4% to ₹72.4 crore.
MTAR Technologies: The company reported an 84.3% YoY dip in Q4 net profit to ₹4.87 crore YoY, and revenue slipped by 27.2% to ₹143 crore.
TCPL Packaging: The company reported a 20.2% YoY jump in Q4 net profit to ₹29 crore, and revenue rose by 4.7% to ₹400.5 crore. The board announced a dividend of ₹22 per share and appointed KK Kanoria as Executive Chairman of the company effective October 1, 2024. The company plans to establish a greenfield facility in Southern India for manufacturing folding cartons.
Amines and Plasticizers: The company reported standalone Q4 revenue of ₹177.08 crore in March 2024, up 7.74% from ₹164.36 crore in March 2023. The quarterly net profit was ₹12.92 crore, up 65.91% from ₹7.78 crore in March 2023. EBITDA stood at ₹22.13 crore, up 56.95% from ₹14.10 crore in March 2023.
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