18 January 23
FII & DII DATA
FII Net SELL- 319.23cr
DII Net BUY - 1225.96cr
19 January 2023
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Quarterly Results News , Stocks In News
IndusInd Bank
The private sector lender has reported a massive 68.7% year-on-year jump in standalone profit at Rs 1,959 crore for quarter ended December FY23, as provisions and contingencies fell 36% YoY to Rs 1,065 crore for the quarter. Net interest income grew by 18.5% YoY to Rs 4,495.3 crore for the quarter, meeting analysts' expectations. Asset quality remained stable with gross non-performing assets improving by 5 bps QoQ to 2.06% and net NPA rising 1 bp to 0.62% for the quarter.
State Bank Of India
The country's largest lender has raised Rs 9,718 crore through its second infrastructure bond issuance at coupon rate of 7.70 percent. The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. The tenor of these bonds is 15 years.
Mahindra Lifespaces
The company has won redevelopment project in Mumbai. The project will offer company a revenue potential of around Rs 500 crore.
Stocks in Focus
Shemaroo Entertainment
The company has reported a 45.4% year-on-year decline in consolidated profit at Rs 1.03 crore for quarter ended December FY23. Consolidated revenue from operations surged 66.3% to Rs 149.56 crore compared to year-ago period.
Rallies India
The crop care solutions provider reported a 43% YoY decline in profit at Rs 22.55 crore for quarter ended December FY23, impacted by weak operating performance and international business. Revenue grew by 0.4% YoY to Rs 630.9 crore due to erratic rainfall in the domestic market and headwinds in international business. EBITDA for the quarter fell 20.9% to Rs 53.3 crore and margin dropped 226 bps to 8.44% compared to year-ago period.
Ugro Capital
The company has crossed AUM of Rs 5,000 crore in quarter ended December FY23, coming in at Rs 5,095 crore, up 97% compared to Rs 2,589 crore in Q3FY22. Quarterly gross loan origination for December FY23 quarter was Rs 1,874 crore, up 78% compared to Rs 1,053 crore in Q3FY22.
Persistent Systems
The IT services company has registered a 8.2% sequential growth in profit at Rs 238 crore for quarter ended December FY23, with revenue growing 5.9% QoQ to Rs 2,169.4 crore and dollar revenue rising 3.4% to $264.35 million for the quarter. At the operating level, EBITDA increased by 9.1% QoQ to Rs 401.55 crore for the quarter. The company has announced an interim dividend of Rs 28 per share for FY23.
Alok Industries
The company posted consolidated loss of Rs 250 crore for quarter ended December FY23, against loss of Rs 0.09 crore in same period last year. Consolidated revenue from operations for the quarter stood at Rs 1,705.7 crore, against Rs 2,129.6 crore in corresponding period last year.
Vedanta
The company has been declared as successful bidder for acquisition of Meenakshi Energy under Corporate Insolvency Resolution Process. After the same, board of directors approved the said acquisition worth Rs 1,440 crore. Meenakshi Energy is a 1000 MW coal-based power plant in Nellore, Andhra Pradesh. The acquisition is estimated to be completed in FY 2024. Vedanta will make upfront payment of Rs 312 crore and the balance Rs 1,128 crore via NCDs issued by Meenakshi Energy.
Wipro
The IT services company has opened AWS Launch Pad Center in Toronto, Canada. This centre will enable customers in Canada to accelerate their move to the cloud and build industry leading solutions leveraging Wipro and AWS expertise.
Adani Enterprises
The company has received approval from board members for FPO floor price at Rs 3,112 per share and cap price for FPO at Rs 3,276 per share. Retail investors will get FPO shares at a discount of Rs 64 per share. Investors can bid for a minimum of 4 FPO shares and in multiples of 4 FPO shares thereafter. The company plans to raise Rs 20,000 crore via FPO.
Gulshan Polyols
The chemicals company has received board approval for acquisition of 40% stake in JGN Sugar and Biofuels. With this, it would be an associate company of Gulshan. The acquisition is expected to be completed over a period of next 3 months.
Oracle Financial Services Software
The company recorded a 10% sequential increase in consolidated profit at Rs 437.33 crore for quarter ended December FY23. Revenue from operations for the quarter at Rs 1,449.3 crore increased by 5.3% compared to previous quarter. The company signed license fees of $27.5 million during this quarter with customers in 19 countries.
Goa Carbon
The company clocked a massive 57% year-on-year growth in profit at Rs 25.6 crore for quarter ended December FY23 despite higher input cost, driven by healthy topline and operating performance. Revenue from operations jumped 93% YoY to Rs 416.76 crore for the quarter.
Aurobindo Pharma
The United States Food and Drug Administration (US FDA) inspected the company's wholly owned subsidiary, APL Health Care's Unit I & III, at Jadcherla in Telangana, during January 9 to January 18, 2023. The US health regulator issued a 'Form 483' with 2 observations. The observations are procedural in nature.
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