Stocks to watch today: Domestic equities will take cues from stock-specific action amid Q3 earnings season. Besides, newsflow around the Adani-Hindenburg case will further drive the sentiment. Last week, the benchmark indices fell nearly 2 per cent in the last two trading sessions after the US-based short seller made its controversial report public.
This morning, SGX Nifty was flat, while other Asian indices were mixed. The Shenzhen Component rose more than 2 per cent, while the Shanghai Composite rose 1.36 per cent in China. Hong Kong's Hang Seng index traded 0.6 per cent lower. In Japan, the Nikkei 225 rose 0.12 per cent, while South Korea's Kospi fell 0.24 per cent.
Here're the top stocks to watch on Monday, January 30:
Earnings today: Bajaj Finserv, BPCL, Coal India, Dhampur Sugar, Dwarikesh Sugar, Exide, Gail India, Inox Leisure, Larsen & Toubro, MRPL, PNB, RECL, Tech Mahindra and Welspun Industries are some of the notable companies scheduled to announce their Q3 results on Monday.
Adani group stocks: Terming Hindenburg Research's conduct a "securities fraud", the Adani group said on Sunday night it was shocked and deeply disturbed to read the report published by the "Madoffs of Manhattan". In a 413-page document, Adani retaliated against the American short-seller, saying the document was a "malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations to drive an ulterior motive". READ ADANI'S REBUTTAL HERE
State Bank of India (SBI): India's largest lender State Bank of India (SBI) said on Friday that its exposure to the Adani Group was well below the Reserve Bank of Indias (RBIs) Large Exposure Framework and was secured by cash generating assets. READ MORE
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Bajaj Finance: Consumer financier Bajaj Finance reported its highest ever quarterly profit at Rs 2,973 crore in the October-December quarter (Q3) of FY23, up 40 per cent year on year (YoY), aided by a healthy rise in net interest income (NII) and drop in provisions and contingencies. The company now estimates new customer addition at 11 million in FY23. READ MORE
Tata Motors: The company will be raising its passenger vehicles' prices by 1.2 per cent on a weighted average basis depending on the variant and model from February 1, given a rise in overall input costs.
Dixon Technologies: The Company has signed a Term sheet with Mega Alliance Holdings Limited (Part of Tinno Group) to form a Joint Venture.
Zomato: In a clarification issued to the exchanges on Friday, the food delivery firm said it is rebranding Instant, its ten-minute food delivery service, and not shutting it down. The statement has come amid reports claiming that the company was planning to close Instant, launched less than a year ago, owing to tough market conditions. READ MORE
Bharat Electronics: State-owned BEL's standalone net profit increased to Rs 598.77 crore in Q3FY23 from Rs 583.37 crore in the same period a year ago. It, however, fell from Rs 611.05 crore reported in Q2FY23. The company's board recommended an interim dividend of Rs. 0.60 per share. The record date has been fixed as Feb 10, 2023.
Hi-tech Pipes: Hi-Tech Pipes, on Saturday, reported over 28 per cent jump in its consolidated net profit to Rs 13.02 crore for the December 2022 quarter on account of higher income. Its total income also rose to Rs 569.80 crore from Rs 440.03 crore in the year-ago quarter. The company's board also approved a proposal for sub-division/split of existing equity share from one equity share into 10 equity shares.
Godfrey Phillips: The cigarette maker reported a growth of 70.3 per cent in consolidated net profit at Rs 199.30 crore for the December quarter versus net profit of Rs 117 crore last year. The company's Ebita rose 20 per cent YoY to Rs 209.8 crore, but the Ebit margin decreased 200 basis points to 22.8 per cent.
Vedanta: Vedanta, after market hours on Friday, recorded a 42 per cent fall in profit to Rs 3,092 crore in the quarter ending December 2022, as compared to Q3FY22. Sequentially, however, the profit was up 15 per cent. It also announced an interim dividend of Rs 12.5 per share for its shareholders. Till now in FY23, it has announced a total dividend of Rs 81 per share. READ MORE
Tata Steel: British business secretary, Grant Shapps, has told British Steel and Tata Steel that they must guarantee a certain number of UK jobs until 2033 as part of an agreement to land £300m each in government aid, the Guardian reported on Friday. A six-month moratorium on redundancies may also be stipulated in return for the taxpayer funding, the report said.
Poly Medicure: The company's total income at the end of Q3FY23 stood at Rs 299.26 crore as compared to Rs 283.38 crore at the end of Q2FY23. It's net profit came in at Rs 50 crore for the recently concluded quarter against net profit of Rs 43.5 crore QoQ.
Coal India: State-run miner Coal India Ltd's chairman and managing director Pramod Agrawal has said the company plans to invest around Rs 42,600 crore in low-emission infrastructure for fossil fuel mining and green energy to help India achieve its net-zero targets.
NTPC: State-run NTPC, on Saturday, reported a 5 per cent YoY rise in its consolidated net profit for Q3FY23 at Rs 4,854.36 crore. Its revenue from operations increased 34 per cent on year to Rs 44,601.84 crore.
CMS Info: CMS Info Systems' consolidated net profit surged 25.8 per cent to Rs 75.78 crore in the Oct-Dec quarter of FY23 from Rs 60.24 crore in Q3FY22. Revenue from operations, meanwhile, increased 21 per cent YoY to Rs 488.32 crore. The company said it had achieved the highest-ever quarterly currency throughput at Rs 3.3 trillion, up 10.7 per cent YoY
Borosil Renewables: The company has informed the exchanges that trial production from SG-3 solar glass furnace, with the capacity of 550 Tonnes Per Day (TPD), commenced on January 26, 2023, in its first rolling line. The trial production from the second rolling line also commenced from January 27, 2023.
NMDC: The government has received multiple Expressions of Interest (EoI) for the proposed strategic disinvestment of NMDC Steel Ltd, the Department of Investment and Public Asset Management (Dipam) said on Friday.
Captain Pipes: The Board of Directors of Captain Pipes considered the issue of two bonus shares for every one equity share held by shareholders, and split/sub-division of one equity share of the company into 10 equity shares on Friday. The proposals will be approved at the company's EGM to be held on Feb 23, 2023.
Kajaria Ceramics: Kajaria Ceramics has reported a 41 per cent YoY drop in its net consolidated profit during Q3FY23 at Rs 73.6 crore. The company's consolidated income grew just 2 per cent YoY to Rs 1,098.6 crore. The board of directors has approved additional acquisition of up to 11,40,968 equity shares of Kajaria Vitrified (KVPL), a subsidiary company, at a consideration of Rs 1.80 crore.
Samvardhana Motherson International: Samvardhana Motherson International Ltd said it will acquire a 51 per cent stake in Saddles International Automotive and Aviation Interiors Pvt Ltd for an enterprise value of Rs 207 crore.
Hinduja Global: Hinduja Global Solutions (HGS), on Friday, announced that the company's board has approved buyback programme worth Rs 1,020 crore. The company said that it has fixed final buyback price of Rs 1,700 per equity share.
Sportking: The company has fixed Friday, February 10, 2023, as the record date for the purpose of determining the entitlement and names of equity shareholders, who shall be entitled to participate in the proposed offer for Buyback of 5,80,000 fully paid up equity shares at the price of Rs 950 per equity share.