Stocks to watch on May 25: The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 18,339, down 47 points or 0.26% from the previous close.
Earnings Watch: AIA Engineering, Ashapura Minechem, Aster DM Healthcare, Balmer Lawrie, Bharat Dynamics, Bharat Gears, Dhanuka Agritech, Dredging Corporation of India, eClerx, Emami, Esab India, FDC, GSFC, Heritage Foods, Hindustan Oil Exploration, Vodafone Idea, Indian Energy Exchange (IEX), IFCI, Igarashi Motors, Ingersoll Rand, ITD Cementation, JSW Holdings, Jubilant Industries, Kolte Patil Developers, Medplus Health, Page Industries, Radico Khaitan, SAIL, Saksoft, Strides Pharma, Suven Pharma, Triveni Engineering, TTK Prestige, Voltamp Transformers, Zee Entertainment and Zee Learn are few of the prominent companies scheduled to announce March quarter earnings on Thursday.
Hindalco: Hindalco Industries posted a 48% fall in its standalone net profit at Rs 832 crore for the quarter ended March. Revenue from operations during the quarter increased 5% to Rs 19,995 crore.
Life Insurance Corporation of India (LIC): The insurance behemoth reported a 466 per cent year-on-year (YoY) increase in standalone net profit for Q4FY23 to Rs 13,421 crore. Net premium income, however, declined 8.3 per cent to Rs 1.31 trillion; the first-year premium income too registered a decline of 12.3 per cent to Rs 12,811 crore.
FSN E-Commerce Ventures (Nykaa): The company reported a 71.8 per cent YoY decline in its net profit to Rs 2.4 crore for the quarter ended March 2023 when compared with Rs 8.50 crore in the quarter ended March 2022. Revenue from operations, however, rose by 33.7 per cent YoY to Rs 1,302 crore. The company’s fashion business witnessed a demand slowdown; its expenses surged, too, due to growing material and employee costs.
National Aluminum Company (Nalco): The company posted a 51.7 per cent decline in Q4FY23 net profit to Rs 459 crore as against Rs 1,025.46 crore in the corresponding period last year. Total income too was down 17 per cent YoY at Rs 3,726.76 crore.
Adani Group: GQG Partners, Abu Dhabi Investment Authority, International Holding Company, and the Hinduja conglomerate are among famed investors that have shown interest in participating in Adani Group companies’ share sale plan that would raise up to Rs 29,000 crore, said investment banking sources.
Meanwhile, in a separate development the Group is exploring the possibility to invest up to $3 billion in seaport and renewable energy projects in Vietnam.
Oil India: The company posted a 9.7 per cent growth in net profit at Rs 1,788.28 crore for the fourth quarter of FY23 when compared with Rs 1,630.01 crore in the year-ago period. Total income jumped 22.2 per cent YoY to Rs 6,075.55 crore.
ICRA: Rating agency ICRA’s consolidated net profit rose by 14.5 per cent YoY to Rs 38.6 crore in Q4FY23, backed by a 16.4 per cent growth in revenue to Rs 109.1 crore.
Trident: The company reported a 28.4 per cent decline in net profit to Rs 129.70 crore in Q4FY23 as against Rs 181 crore in Q4FY22. Total income was down 15.2 per cent YoY from Rs 1,853.07 crore to Rs 1,570.97 crore.
Ashok Buildcon: The company’s Q4FY23 net profit more-than-doubled to Rs 434.76 crore when compared with Rs 187.98 crore in Q4FY22. Total income increased by 27.4 per cent YoY to Rs 2,067.88 crore.
Titagarh Wagons: The company’s Q4 net profit dipped 19.6 per cent YoY to Rs 53 crore for the quarter ended March 2023. Total income, however, more-than-doubled to Rs 982.53 crore from Rs 426.33 crore.
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