Stocks to Watch: Adani Ent, IndusInd Bank, Coal India, HUL, Asian Paints

Stocks to watch today: Shares in the Asia-Pacific traded mostly lower on Thursday after tracking losses on Wall Street overnight. In Japan, the Nikkei 225 traded down 1.06 per cent, South Korea’s Kospi inched up 0.21 per cent, while Australia’s S&P/ASX 200 dipped 0.11 per cent. Hong Kong’s Hang Seng index fell 0.72 per cent, and Mainland China’s Shanghai Composite lost 0.26 per cent.

At 7:15 AM, SGX Nifty was down 83 points at 18,139 level.

Overnight, major US stock indexes stumbled, with the S&P 500 recording its worst day in more than a month. The Dow fell 1.81 per cent, the S&P 500 lost 1.56 per cent, and rhe Nasdaq Composite slid 1.24 per cent, snapping a seven-day win streak.

Here’s a list of stocks that will be in focus on Thursday, January 19:

Earnings today: Automobile Corporation of Goa, Anant Raj , Asian Paints, AU Small Finance Bank, CanFin Homes, Datamatics, Gujarat Credit Corporation, Happiest Minds Technologies, Hatsun Agro Product, Havells India, Hindustan Unilever, Hindustan Zinc, IIFL Wealth Management, IndiaMART InterMESH, ICICI Securities, Kuantum Papers, L&T Technology Services (LTTS), Martin Burn, Menon Bearings, Meghmani Finechem, Mahalaxmi Rubtech, Modella Woollens, Mphasis, Netlink Solutions (India), Polycab India, PVR, Spectrum Foods, SVA India, Sterling and Wilson Renewable Energy, and tantia Constructions are scheduled to report their December quarter (Q#FY23) results today.

Adani Enterprises: Adani Enterprises (AEL) has set a price band of Rs 3,112-Rs 3,276 per share for its Rs 20,000-crore follow-on public offering (FPO). Shares of the company last closed at Rs 3,595 on the BSE.

The floor price is set at a 13.4 per cent discount to the last close, while the top-end is close to 9 per cent below. AEL is offering an additional discount of Rs 64 for retail investors. READ MORE

IndusInd Bank: Private lender IndusInd Bank on Wednesday reported a 58 per cent year-on-year (YoY) jump in consolidated net profit to Rs 1963.64 crore in October-December on the back of strong growth in net interest income. A sharp decline in provisions for bad loans also boosted the bank’s bottomline in Q3FY23. READ MORE

Vedanta: Metals and mining major Vedanta will acquire debt-laden power plant Meenakshi Energy for Rs 1,440 crore, the company said on Wednesday in a filing to the stock exchanges. READ MORE

Mahindra Lifespace: The real estate and infrastructure development arm of the Mahindra Group has been selected as the preferred partner to redevelop two adjacent residential societies in Santacruz West. The project will offer Mahindra Lifespaces a revenue potential of around Rs 500 crore.

Coal India: The government on Wednesday said that it has set a coal production target of more than one billion tonnes (BT) for the next financial year. Of the said target, state-owned CIL has been given the task to produce 780 MT of coal, followed by 75 MT for Singareni Collieries Company Ltd (SCCL) and 162 MT for captive and commercial mines. READ MORE

Rallis India: Tata group firm Rallis India on Wednesday reported a 43 per cent decline in its December quarter (Q3FY23) net profit at Rs 22.55 crore vs Rs 39.55 crore in Q3FY22. Revenue from operations increased to Rs 630.39 crore as against Rs 628.08 crore revenue recorded last year.

Oracle Financial Services Software: The information technology company’s revenue increased to Rs 1,490.1 crore in Q3FY23 vs Rs 1,301.9 crore in Q3FY22. Sequentially, it rose from Rs 1,421.6 crore. Further, it’s net profit came in at Rs 437.3 crore as against Rs 435.3 crore YoY, and Rs 397.7 crore QoQ.

Persistent Systems: The company reported a 6 per cent QoQ increase in revenues at Rs 2,169.37 crore, meeting Street estimates. It’s earnings before interest and tax (Ebit) was up 11.57 per cent at Rs 333.21 crore, while margin expanded to 15.36 per cent. Net profit up 8.15 per cent QoQ at Rs 237.95 crore vs Bloomberg estimate of Rs 239.87 crore). The board approved an interim dividend of Rs 28 per share.

Vivanta Industries: The Board has approved sub-division of one equity share of the company into 10 equity shares. The record date for the sub-division of equity shares shall be decided in due course. Separately, the company has received orders worth Rs 52 crore.

Gulshan Polyols: The company’s Board has approved the proposal of acquiring up to 40 per cent equity share capital of JGN Sugar and Biofuels Private Limited. READ MORE

Welspun Enterprises: The Board of Directors has approved voluntary liquidation of Welspun Natural Resources Private Limited (WNRPL), a wholly owned subsidiary of the company.

SBI: State Bank of India (SBI), the country’s largest lender, raised Rs 9,718 crore through the issuance of 15-year infrastructure debt on Wednesday, with the bonds bearing a coupon of 7.70 per cent. READ MORE

DCM Shriram: The company has informed the exchanges that the expansion of distillation capacity from 200 KLD to 320 KLD at DCM SHRIRAM, Sugar Unit: Ajbapur, has been commissioned.

Aurobindo Pharma: The United States Food and Drug Administration (US FDA) inspected the company’s wholly owned subsidiary, APL Health Care Limited’s Unit I & III, and Derma Manufacturing facility located at Jadcherla, Telangana, from January 9 to January 18, 2023. At the end of the inspection, it has been issued a ‘Form 483’ with 2 observations. READ MORE

KDDL: The Board of Directors has approved share buyback at a maximum price of Rs 1,200 per share and for an aggregate amount not exceeding Rs 21 crore. This will be done via Open market. READ MORE