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Stocks to watch: Shares of firms like UltraTech, HUL, Airtel, BPCL, Coforge, Waaree Energies, and others will be in focus on Thursday’s trade
Stocks to watch (Representational/ File Photo)
Stocks To Watch On January 23: Domestic markets saw a volatile session on Wednesday following Tuesday’s sharp decline, but managed to close with modest gains of nearly half a percent. Today, shares of Ultratech, Dr. Reddy’s, HUL, Go Digit, and Airtel, among others, will be in focus due to various news updates and Q3 results.
Earnings Today
Several key companies are scheduled to announce their quarterly earnings today, January 23. Notable ones include UltraTech Cement, Dr. Reddy’s Laboratories, Hindustan Petroleum Corporation, Adani Energy Solutions, Adani Green Energy, Zee Entertainment, United Spirits, Mphasis, Syngene International, Ujjivan Small Finance Bank, and others.
Listings Today
Stallion India Fluorochemicals and Landmark Immigration Consultants will list their shares on BSE, NSE, and BSE SME platforms, respectively.
Hindustan Unilever (HUL)
HUL reported a Q3 standalone net profit of Rs 3,001 crore, up from Rs 2,519 crore (YoY), slightly above the estimate of Rs 2,585 crore. Revenue came in at Rs 15,195 crore, compared to Rs 14,930 crore (YoY), missing the estimate of Rs 15,600 crore. EBITDA was Rs 3,669 crore vs Rs 3,565 crore (YoY), slightly above the estimate of Rs 3,600 crore, with an EBITDA margin of 24.15%. HUL also approved the demerger of its Kwality Wall’s ice cream business and acquired a 90.5% stake in Minimalist at a pre-money enterprise value of Rs 2,955 crore.
BPCL
BPCL’s Q3 standalone net profit rose sharply to Rs 4,640 crore from Rs 2,400 crore (QoQ), missing the estimated Rs 4,977 crore. Revenue rose to Rs 1.27 lakh crore from Rs 1.18 lakh crore (QoQ), beating the estimated Rs 1.12 lakh crore. EBITDA stood at Rs 7,580 crore, up from Rs 4,547 crore (QoQ), though slightly below the estimate of Rs 8,312 crore. EBITDA margin improved to 5.94% from 3.85% (QoQ), but was still below the estimate of 7.4%.
Coforge
Coforge reported a Q3 consolidated net profit of Rs 216 crore, missing the estimate of Rs 260 crore. EBIT came in at Rs 316 crore vs Rs 287 crore (QoQ), below the estimate of Rs 397 crore. Revenue was Rs 3,320 crore, up from Rs 3,060 crore (QoQ), exceeding the estimated Rs 3,250 crore. The company also announced an interim dividend of Rs 19 per share.
Persistent Systems
Persistent Systems’ Q3 consolidated net profit rose to Rs 373 crore, surpassing the estimate of Rs 350 crore. Revenue rose to Rs 3,060 crore from Rs 2,900 crore (QoQ), meeting the estimated Rs 3,060 crore. EBIT stood at Rs 456 crore, exceeding the estimate of Rs 447 crore, with an EBIT margin of 14.88%.
Pidilite Industries
Pidilite’s Q3 consolidated net profit stood at Rs 552 crore, compared to Rs 510 crore (YoY). Revenue rose to Rs 3,369 crore from Rs 3,130 crore (YoY). EBITDA came in at Rs 797 crore vs Rs 742 crore (YoY), with a slight decline in EBITDA margin to 23.66% from 23.71% (YoY).
Tata Communications
Tata Communications’ Q3 net profit surged to Rs 236 crore from Rs 45 crore (YoY), marking a 424% growth. Revenue for the quarter stood at Rs 5,798 crore, up 3.8% from Rs 5,587.8 crore (YoY).
Laxmi Organic Industries
Laxmi Organic’s Q3 net profit increased to Rs 29.3 crore from Rs 27.2 crore (YoY) and Rs 28.1 crore (QoQ). Revenue grew to Rs 786 crore from Rs 700 crore (YoY). EBITDA improved to Rs 74.9 crore from Rs 52.2 crore (YoY), with EBITDA margin improving to 9.53% from 7.52% (YoY).
Cigniti Tech
Cigniti Tech’s Q3 net profit rose to Rs 63.6 crore from Rs 52.9 crore (QoQ). Revenue increased to Rs 516 crore from Rs 490 crore (QoQ). EBIT rose to Rs 82 crore from Rs 62 crore (QoQ), with EBIT margin improving to 15.88%.
Gravita India
Gravita India’s Q3 net profit increased to Rs 77.9 crore from Rs 60.3 crore (YoY). Revenue rose to Rs 996 crore from Rs 758 crore (YoY). EBITDA remained flat at Rs 81.1 crore, with a decline in EBITDA margin to 8.14% from 10.66% (YoY).
Paras Defence
Paras Defence signed an MoU with the Maharashtra government to establish an Optics Park with an investment of Rs 12,000 crore. The project is expected to generate 2,000 direct jobs and commence operations by 2028.
Waaree Energies
Waaree Energies’ subsidiary, Waaree Solar Americas, began commercial production of its 1.6 GW solar module line in Brookshire, Texas.
E2E Networks
E2E Networks’ Q3 net profit rose to Rs 11.6 crore from Rs 5.6 crore (YoY). Revenue increased to Rs 41.6 crore from Rs 24 crore (YoY). EBITDA declined to Rs 8.56 crore from Rs 11.2 crore (YoY), with EBITDA margin falling to 20.58%.
Mazagon Dock Shipbuilders
Mazagon Dock clarified that no contract with JNPA has been signed yet, although discussions are underway for a solar cell-powered boat project.
Go Digit General Insurance
Go Digit reported a Q3 net profit of Rs 119 crore, up from Rs 42.9 crore (YoY). Revenue rose to Rs 2,084 crore from Rs 1,980 crore (YoY).
Airtel
Telecom giant Bharti Airtel introduced Voice and SMS-only prepaid plans, in compliance with directives from the Telecom Regulatory Authority of India (TRAI).
Go Digit
Go Digit’s Q3 profit jumped 2.8 times to Rs 119 crore, while gross written premium rose 10% YoY to Rs 2,677 crore.
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