10 February 23
FII & DII DATA
FII Net BUY - 1458.02cr
DII Net SELL - 291.34cr
13 February 2023
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Stocks In News
Tata Communications
The company said in an exchange filing that it has become the official broadcast distribution provider for the Formula E World Championship. The multi-year strategic relationship supports Formula E’s innovative new remote broadcast production set up, reducing environmental impact associated, the company said.
Adani Group Companies
Three Adani Group companies have pledged additional shares for State Bank of India, days after a scathing report by US short-seller Hindenburg led to over $100 billion loss in its market value. Adani Ports and Special Economic Zone (APSEZ), Adani Transmission Ltd and Adani Green Energy pledged shares to SBICAP Trustee Company, a unit of India's biggest lender, SBI.
Adani Green Energy
Moody's Investors Service has affirmed the ratings on eight Adani Group companies, including Adani Green Energy. Moody's has changed the outlook of four Adani Group companies (Adani Green Energy; Adani Green Energy Restricted Group, Adani Transmission Step-One, and Adani Electricity Mumbai) to negative from stable while maintaining the stable outlook on the four other companies (Adani Ports and Special Economic Zone, Adani International Container Terminal, Adani Green Energy Restricted Group-2, and Adani Transmission Restricted Group 1).
Mahindra and Mahindra
The automobile company entered into a share purchase agreement with Artelia Holding SAS for sale of its entire stake in subsidiary Mahindra Consulting Engineers. It will sell stake to Artelia, in one or more tranches at a price of Rs 89.66 per share, for Rs 10.31 crore. After completion of stake sale, Mahindra Consulting Engineers will cease to be the subsidiary of the company.
Kotak Mahindra Bank
The private sector lender has entered into share purchase agreements with the current shareholders of Sonata Finance, a non-banking finance company – micro finance institution, to acquire 2.64 crore equity shares of Sonata, for Rs 537 crore. The acquisition is expected to be completed by first half of FY24.
Delhivery
The logistics services provider has posted consolidated loss of Rs 195.65 crore for quarter ended December FY23, widening from loss of Rs 126.5 crore in same period last year as EBITDA loss for the quarter at Rs 73.3 crore against EBITDA profit of Rs 54.2 crore in corresponding period of last fiscal. Consolidated revenue at Rs 1,823.8 crore for the quarter fell by 8.6% compared to Q3FY22.
Glenmark Pharmaceuticals
The pharma company has recorded consolidated profit at Rs 272.6 crore for quarter ended December FY23, increasing 23% over a year-ago period due to low base, supported by higher other income. Q3FY22 profit was impacted by exceptional loss. Revenue for the quarter at Rs 3,464 crore increased by 9.15% over a year-ago period, with India business growing 6.7% and North America business rising 10.6%, Europe business up 29.5% and Rest of World business rising 22.3% YoY. On the operating front, EBITDA was down 10.5% YoY to Rs 620 crore with margin contraction of 394 bps YoY at 17.9% for the quarter.
ABB India
The technology leader in electrification and automation has clocked a massive 58% year-on-year growth in profit at Rs 305.91 crore for quarter ended December 2023 driven by healthy operating performance, beating analysts' estimates. Revenue for the quarter at Rs 2,427 crore grew by 15.5% over a year-ago period. On the operating front, EBITDA surged 97% YoY to Rs 364.3 crore with margin expansion of 620 bps YoY to 15%. ABB India received orders worth Rs 2,335 crore for Q4 CY2022, growing 4% YoY.
Ashoka Buildcon
The road developer has recorded consolidated profit at Rs 136 crore for three-month period ended December FY23, down 65% year-on-year due to high base and weak operating margin. The profit in Q3FY22 was boosted by exceptional gain. Consolidated revenue for the quarter at Rs 1,956 crore increased by 36%. As on December 2022, total order book of the company was at Rs 16,140 crore.
On the operating front, EBITDA grew by 235 YoY to Rs 490 crore for the quarter ended December FY23, but margin was down by 260 bps YoY to 25.05%.
Bharat Heavy Electricals
The state-owned power equipment maker has reported a 56.5% year-on-year increase in consolidated profit at Rs 42.3 crore for Q3FY23, driven by strong operating performance. Revenue for the quarter at Rs 5,263.4 crore increased by 2.5% over a year-ago period. On the operating front, EBITDA jumped 62% YoY to Rs 144.5 crore with margin expansion of 100 bps for the quarter.
BEML
The railway transportation company has received an order for supply of 118 units of track width mine plough (TWMP) for Arjun MBT MK-1A from HVF, Avadi. The contract value of the order is Rs 377.98 crore and the supply of TWMP is expected to be completed by January 2026.
PB Fintech
The policybazaar operator has posted consolidated loss of Rs 87.3 crore for quarter ended December FY23, narrowing significantly from loss of Rs 298 crore in same period last year. Consolidated revenue grew by 66.1% YoY to Rs 610 crore for the quarter. Other income jumped 105.3% YoY to Rs 68.9 crore in Q3FY23.
Oils India
The state-owned oil company has recorded a standalone profit of Rs 1,746 crore for quarter ended December FY23, up by 1.5% QoQ impacted by lower other income (down 89% QoQ). Revenue for the quarter at Rs 5,376.2 crore increased by 15.8% in Q3FY23. On the operating front, EBITDA surged 54.5% sequentially to Rs 2,855 crore with margin expansion of 1,330 bps QoQ to 53.1% for the quarter. The company announced an interim dividend of Rs 10 per share.
Thermax
The energy and environment solutions provider has received an order for Rs 251.7 crore from an Indian public sector power company. The contract is for the renovation and modernisation of the electrostatic precipitator (ESP) package of its 3x210 MW thermal power station in Bankura, West Bengal. The project is slated to be completed in 25 months.
National Aluminium Company
The state-owned alumina and aluminium company has reported a 69% year-on-year decline in consolidated profit at Rs 256.32 crore for three months period ended December FY23, impacted by lower sales volume of alumina, higher input cost, power & fuel expenses coupled with global challenging business scenario and volatility. Consolidated revenue fell by 12.8% YoY to Rs 3,290 crore for the quarter. On the operating front, EBITDA plunged 61.4% YoY to Rs 460 crore and margin declined 1,758 bps YoY to 13.97% for Q3FY23.
Lemon Tree Hotels
The hotel chain operator has reported consolidated profit at Rs 40 crore for quarter ended December FY23 against loss of Rs 1.87 crore in same period last year. Consolidated revenue at Rs 233.5 crore for the quarter increased by 62.6% over a year-ago period. On the operating front, EBITDA grew by 100% YoY to Rs 126.5 crore and margin 1,010 bps to 54.15% for the quarter. The board has approved the re-appointment of Patanjali Govind Keswani as Chairman and Managing Director of the company for further three years.
Info Edge (India)
The technology company has posted consolidated loss of Rs 116.5 crore for quarter ended December FY23, against profit of Rs 4,601.8 crore in same period last year. The company reported an exceptional loss of Rs 411.77 crore for the quarter against exceptional gain of Rs 2,280.4 crore in same period last year. Consolidated revenue for the quarter at Rs 589.5 crore increased by 40% YoY. Operating numbers too were strong with EBITDA rising 61% YoY to Rs 188.5 crore with margin expansion of 424 bps YoY.
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