Stocks to watch: Airtel, ONGC, Adani Energy, Tata Chem, Marico, Aster DM Health

Bharti Airtel: The company posted a net profit of ₹4,160 crore for the quarter ended June, doubling sequentially and jumping 158% from a year ago due to exceptional gains from a favourable tax judgement and divestment of its Sri Lankan operations. Consolidated revenue rose nearly 3% to ₹38,506 crore, while Ebitda came in at ₹19,944 crore, up 1% y-o-y. Ebitda margin declined to 51.8%. MD and CEO Gopal Vittal highlighted cost efficiencies, strong Africa revenue growth, and 6.7 million new smartphone customers in India with an improved ARPU of ₹211.

ONGC: The company beat first-quarter profit estimates with a standalone profit of ₹89.38 billion, bolstered by strong domestic fuel demand and higher price realisation. Crude oil price realisation grew 8.8% to $83.05 per barrel, while revenue from operations rose 4% to ₹352.66 billion. Profit fell 15% due to the government’s windfall tax on petroleum crude, and expenses swelled 19% to ₹253.71 billion. Its peer Oil India is expected to report results later this week.

InterGlobe Aviation: IndiGo introduced its business class product, #IndiGoStretch, on the Delhi-Mumbai route with bookings starting August 6 for travel from November 14. Business class seats will be available on 12 domestic routes. The airline will also launch a loyalty program called ‘IndiGo BluChip’. CEO Pieter Elbers emphasized the premium quality of the new service, while highlighting India’s growing demand for premium services.

Reliance Industries: The diversified conglomerate climbed to the 86th spot on the Fortune 500 list, the highest-ever rank for the company, with a market capitalisation of ₹19.585 trillion. The company had posted a 2.6% rise in revenue to ₹10,00,122 crore and a 16.1% rise in EBITDA to ₹1,78,677 crore at the end of FY24. Other Indian companies on the list include LIC, Indian Oil, SBI, ONGC, BPCL, Tata Motors, HDFC Bank, and Rajesh Exports.

Adani Energy Solutions: The company raised ₹8,373 crore through a QIP to invest in transmission assets, smart metering, debt repayment, and general corporate purposes. The QIP RECeived bids nearly 6x the base deal size from various investors; CEO Kandarp Patel highlighted the strong interest from institutional investors and India’s robust investment cycle.

Tata Chemicals: The company reported a 71.8% fall in first-quarter profit to ₹1.5 billion due to lower soda ash prices and subdued demand. Revenue fell more than 10% to ₹37.89 billion. Because of the oversupply in Asia and the EU due to China’s economic slump and decreased EU demand for glass products, recovery may take 12-18 months.

Marico: The FMCG company announced an 8.66% rise in net profit to ₹464 crore for the April to June quarter compared to ₹427 crore the previous year. Revenue from operations increased 6.7% to ₹2,643 crore. India revenues rose 7.38% to ₹1,926 crore, while its oil business contributed 72% of revenue growth, with Parachute coconut oil at 34%, Saffola edible oils at 16%, and value-added hair oils at 22%. EBITDA margin grew 50 bps to 23.7%, as the company focuses on diversification and premiumisation in India business.

Mahindra Lifespace Developers: Ample Parks, a joint venture between Actis and Mahindra Lifespace Developers secured a 70-acre industrial land at Mahindra World City, Chennai, for an integrated industrial and logistics park. The JV plans to develop 2 million sq. ft of Grade A industrial and warehousing space with ₹800 crore investment, and aims to acquire 700-750 acres for 15-17 projects in tier 1 and 2 cities over the next 5-7 years.

Aster DM Healthcare: The company plan to merge with Care Hospitals, to create India’s third-largest hospital chain with 9,900 beds. Private equity firm Blackstone owns large stakes in both the companies. The merged entity is to be called Aster DM Quality Care Pvt. Ltd. The share swap ratio of the merger is expected to be of 50:50. Further, the Moopen family will own a lower stake in the combined entity.

Sterlite Technologies: STL appealed to the European Commission against anti-dumping duties on Indian optical fiber cable manufacturers. The company expects business to improve and return to profitability. STL anticipates benefiting from Indian government’s anti-dumping duty on certain optical fiber imports from China, South Korea and Indonesia.

Tata Power: The company received a letter of intent from PFC Consulting to acquire a project special purpose vehicle Paradeep Transmission. The SPV is to be developed on build, own, operate, and transfer basis for 35 years. The project involves constructing 2 x 1,500 MVA, 190 km of 765 kV double circuit transmission line from Angul substation to Paradeep, Odisha.

Ambuja Cements: The company announced its first venture in Bihar with a 6 MTPA cement grinding unit at Warisaliganj, Nawada, Bihar, with an investment of ₹1,600 crore. The project is to be implemented in three phases, with the first phase of 2.4 MTPA targeted for December 2025. It is expected to contribute ₹250 crore per year to Bihar’s fiscal revenue and create 250 direct and 1,000 indirect jobs.

Bharti Hexacom: The company reported a net profit of ₹511 crore for the June quarter, up 101.9% YoY from the previous year. Revenue increased 13.6% to ₹1,911 crore, with mobile services revenue up 12.9%. ARPU improved to ₹205 from ₹194, and homes and office business revenue increased 21.1% YoY. The company reported EBITDA at ₹912 crore with a margin of 47.7%, while EBIT came in at ₹416 crore with a margin of 21.8%.

Brigade Enterprises: The company reported a 267.12% YoY jump in net profit to ₹80.5 crore for Q1FY25, with revenue from operations surging 64.8% to ₹1,077.7 crore. Real estate revenue stood at ₹707 crore, leasing revenue at ₹259 crore, and hospitality revenue at ₹118 crore. EBITDA jumped 67.3% to ₹292.5 crore with a margin of 27.2%, and pre-sales bookings stood at 1.15 million sq. ft., with a sale value of ₹1,086 crore.

Deepak Nitrite: The company reported a 35.1% YoY jump in net profit to ₹202.5 crore for Q1FY25, with revenue from operations increasing 22.5% to ₹2,166.8 crore. EBITDA jumped 47.4% to ₹309.2 crore with a margin of 14.35%.

Biocon: The company received an establishment inspection report (EIR) with voluntary action indicated (VAI) from the US FDA for its API facility in Visakhapatnam, Andhra Pradesh, following a GMP inspection conducted in June 2024.

BLS International Services: The company reported a 70.1% YoY jump in net profit to ₹120.8 crore for Q1FY25, with revenue from operations increasing 28.5% to ₹492.7 crore. EBITDA jumped 66% to ₹133.1 crore with a margin of 27%. Visa and consular business revenue grew 35.9% YoY to ₹414.1 crore, digital business revenue at ₹78.5 crore, and business correspondent segment witnessed over 3.5 crore transactions.

Honeywell Automation India: The company reported a 32% YoY surge in net profit to ₹136.5 crore for Q1FY25, with revenue from operations increasing 3% to ₹960.4 crore. EBITDA grew 27.9% to ₹154.2 crore with a margin of 16.1%.

V-Mart Retail: The company reported a net profit of ₹12 crore for Q1FY25, reversing a net loss of ₹21.9 crore in the previous year; revenue from operations increased 15.9% to ₹786 crore; EBITDA jumped 88.9% to ₹99 crore with a margin of 12.6%.

Indian Energy Exchange: IEX reported its highest-ever monthly traded volume of 13,250 MU for July 2024, a 56% YoY increase. Electricity volume stood at 10,093 MU, while green electricity volume came in at 1 billion unit. REC volume rose 405% YoY to 3,150 MU. India’s energy consumption reached 145.4 BUs, a 4% increase YoY.

Lupin: The company announced the incorporation of Lupin Lanka (Private) Ltd in Sri Lanka as its wholly-owned subsidiary. Separately, it received a centralized Show Cause Notice from the Maharashtra GST Authority seeking recovery of ₹336.2 crore in taxes, along with applicable interest and an equivalent penalty of ₹336.2 crore for the period from July 2017 to March 2022.

Schneider Electric Infrastructure: The company's Q1 profit spiked 38.8% YoY to ₹48.5 crore in Q1FY25 compared to ₹34.9 crore in the year ago period, while revenue grew 19.7% to ₹592.9 crore compared to ₹495.3 crore earlier.

Brigade Enterprises: The company's consolidated Q1 profit zoomed 268% YoY to ₹80.5 crore, compared to ₹21.9 crore in the year ago period, while revenue jumped 64.8% to ₹1,077.7 crore from ₹653.97 crore earlier.

BEML: The company's consolidated Q1 net loss narrowed to ₹70.5 crore, compared to a net loss of ₹75 crore in the year ago period. Revenue rose 9.9% YoY to ₹634.1 crore, compared to ₹576.9 crore earlier.

BLS International Services: The company's consolidated Q1 profit jumped 70.1% YoY to ₹120.8 crore compared to ₹71 crore in the year ago period. Revenue grew 28.5% to ₹492.7 crore, compared to ₹383.5 crore earlier.

Motherson Sumi Wiring India: The company's Q1 profit jumped 20.9% YoY to ₹148.9 crore compared to ₹123.1 crore in the year ago period, while revenue grew 16.7% to ₹2,184.8 crore compared to ₹1,871.8 crore earlier.

Triveni Turbine: The company's consolidated Q1 profit increased 31.9% YoY to ₹80.41 crore, compared to ₹61 crore in the year ago period. Revenue grew 23% to ₹463.3 crore during the period, compared to ₹376.4 crore earlier.

Bajaj Consumer Care: Quant Mutual Fund bought a 1.89% stake in Bajaj Consumer Care at an average price of ₹256 per share while Goldman Sachs Funds sold a 1.69% stake at an average price of ₹256.02 per share.

Huhtamaki India: Plutus Wealth Management LLP purchased a 0.66% stake in Huhtamaki India at an average price of ₹416.49 per share.

Aavas Financiers: Smallcap World Fund Inc bought a 0.63% stake in Aavas Financiers at an average price of ₹1,630 per share.