Stocks In Focus, Share Market News


1 February 23

FII & DII DATA 

FII Net   BUY - 1785.21cr
DII Net  BUY   - 529.47cr

02 February 2023

Today Results 

AAVAS Financier
AB Capital
Aegis Logistics  
APL Apollo
Apollo Tyres
APTUS VALUE
Bajaj Electric
Berger Paints
Birlasoft
Cera Sanitary
CG Consumer
Chennai Ferrous
Clean Science
Coromandel Int
DB Corp
Dabur India
Deepak Fert
Dr Lal PathLab
eClerx Services
Fino Payments
GIC Housing Fin
GMM Pfaudler
Godrej Prop
Greenlam Ind
Gulf Oil Lubric
Hawkins Cooker
HDFC
Hikal
IG Petro
JTL Ind.
Jubilant Ind
Kamdhenu
Karnataka Bank
Mahanagar Gas
Mahindra Life
Mahindra Holida
Max Healthcare
Privi Special
S H Kelkar
Sheela Foam
SIS
Stove Kraft
TATA Cons. Prod
Titan Company
V-Guard Ind
Zydus Wellness
Welspun Corp

Stocks In Focus 

Adani Enterprises 

Withdraws its Rs 20,000 crore follow-on public offer (FPO) that was fully subscribed on the final day of the subscription with help form some big Indian conglomerates. The FPO stands withdrawn “given the unprecedented situation and the current market volatility” and all proceeds would be returned to investors.


Hero Motocorp 

Sales for the month of January at 3.56 lakh units, well below Nomura's estimate of 4.1 lakh units. On a year-on-year basis, sales declined 6.3 percent from 3.8 lakh units last year. Exports declined 67 percent to 7,253 units.


Eicher Motors 

Royal Enfield has sold 74,746 motorcycles in January 2023, rising 27 percent over 58,838 units sold in same month last year. But exports dropped by 23 percent to 7,044 motorcycles in the same period. The company has registered a 45 percent YoY growth by selling 6.91 lakh motorcycles in April 2022-January 2023 period.


Syngene International

Promoter Biocon has offloaded 4 crore shares of the company via open market transactions on February 1. As a result, its shareholding in Syngene reduced by 9.96 percent to 54.6 percent, from 64.56 percent earlier. Government of Singapore bought 1.57 crore shares of Syngene at Rs 560 per share.


Lakshmi Machine Works 

The textile machinery manufacturer has reported a massive 76 percent year-on-year growth in profit at Rs 113 crore for quarter ended December FY23, backed by healthy operating performance and topline. Revenue from operations at Rs 1,222 crore increased by 34 percent compared to year-ago period.


Craftsman Automation 

The auto ancillary company has completed acquisition of 76 percent stake in DR Axion India. In December 2022, it had signed a definitive agreement for acquiring 8.57 crore shares of DR Axion India.


Alembic Pharmaceuticals 

The pharma company has registered a 29 percent year-on-year decline in consolidated profit at Rs 122 crore for quarter ended December FY23, impacted by weak operating performance and lower other income. However, revenue from operations at Rs 1,509 crore increased by 19 percent YoY in the same period with growth across verticals as US business grew by 10 percent to Rs 432 crore and India segment reported a 12 percent growth at Rs 545 crore.


Induslnd Bank 

Clarifies on its exposure towards a "conglomerate group" saying total outstanding loans are 0.49 percent of the overall book. Total non-fund outstanding is 0.85 percent of the loan book while loan outstanding against fixed deposits is 0.2 percent of loan book. Majority of the fund and non-fund exposure is working capital requirements and the same is secured.


Britannia Industries 

The company has reported a 156 percent year-on-year growth in consolidated profit at Rs 932.4 crore for December FY23 quarter led by strong operating performance and exceptional income of Rs 359 crore. Revenue from operations at Rs 4,197 crore grew by 17.4 percent over a year-ago period. EBITDA jumped 51.5 percent to Rs 817.6 crore for the quarter YoY.


Coal India 

The country's largest coal mining company has announced production of 71.9 million tonnes of coal for January 2023, growing 11.5 percent over a year-ago month, while offtake rose by 6.1 percent to 64.5 million tonnes in the same period. These are provisional numbers.


Ashok Leyland 

The commercial vehicle maker has sold 17,200 units in the month of January 2023, growing 23 percent over a year-ago period with healthy growth across segments. Medium & heavy commercial vehicle sales increased by 28 percent to 11,050 units in the same period, and light commercial vehicle segment registered 17 percent YoY growth at 6,150 units for January.


Ambuja Cements & Acc 

Adani group clarifies that none of the shares of these two companies have been pledged by the promoters. They have provided only a non-disposal undertaking and accordingly, there is no requirement of providing any top-up share of Ambuja and ACC or a cash top-up.


Insurance Companies

Government's proposal to tax proceeds from life insurance if annual premium is over Rs 5 lakh is negative as it dilutes attraction of top selling products, according to brokerages. CLSA has cut price targets for its life insurance coverage companies by 25-35 percent. HDFC Life has been downgraded to sell, Max Financial to underperform and ICICI Prudential & SBI Life to outperform. All had a buy rating from CLSA earlier. Morgan Stanley sees this as a negative for the sector and meaningful downside risks to financial year 2024 APE and VNB growth forecasts. HDFC Life and SBI Life fell the most in three years on Wednesday while for LIC, it was the biggest single-day drop since listing. ICICI Prudential has also clarified that their share of non-unit linked policies with an annual premium of over 5 lakh is nearly 6 percent of the total annual premium equivalent for the first nine months of the current financial year.


IDFC and IDFC First Bank 

IDFC to invest Rs 2,200 crore in IDFC First Bank to increase its stake to 40 percent from the current 36.38 percent. IDFC will also give dividends worth Rs 1,760 crore to shareholders. IDFC had received Rs 4,000 crore from the sale of its AMC business.

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