Stocks to watch: Shares of firms like Vedanta, HDFC, RIL, IndusInd Bank, PVR, IT stocks, and others will be in focus in Wednesday’s trade.
The Nifty 50 January futures contract on the Singapore Exchange hints at a negative start to domestic equities on Wednesday. The futures contract was trading at 18252.50 down 53.5 points or 0.29 per cent from the previous close.
Vedanta: Vedanta on Tuesday said that its total aluminium production dropped by 2 per cent to 5,66,000 tonnes in the third quarter of the current fiscal. The company’s total aluminium output stood at 5,79,000 tonnes in the year-ago period. Alumina production at Lanjigarh refinery decreased by 6 per cent YoY and 2 per cent QoQ to 443kt due to maintenance activities in calciners,” Vedanta said in a filing to BSE. The company said at Zinc India, the mined metal production increased marginally by 1 per cent to 2,54,000 tonnes in the third quarter.
Avenue Supermarts: Revenue growth in the quarter ended December slowed down on a sequential basis, even though the company posted a double-digit rise in the topline. The company, which operates D-Mart chain of supermarkets, saw revenue rising 25 per cent year-on-year (YoY) in Oct-Dec to Rs 11,305 crore, according to the provisional figures.
IndusInd Bank: The private lender posted 19 per cent year-on-year (YoY) increase in net advances, at Rs 2.7 trillion, at the end of December 31, 2022. Net deposits, too, grew 14 per cent YoY to Rs 3.25 trillion.
HDFC: According to a regulatory filing, loans assigned during the quarter ended December 31, 2022, stood at Rs 8,892 crore compared to Rs 7,468 crore in the corresponding quarter of the previous year. Besides, gross income from dividend for the quarter was Rs 482 crore as against last year’s income of Rs 195 crore.
Avenue Supermarts (DMart): The retail chain operator’s standalone revenue from operations for the quarter ended December 31, 2022 (Q3FY23) stood at Rs 11,304.58 crore relative to revenue of Rs 9,065.02 crore at the end of Q3FY22. The total number of stores as of December 31, 2022 stood at 306.
Oreint Cement: According to media reports, Adani Group is in talks to buy promoter stake in the company. BSE has sought clarification from the company, and the reply is awaited.
Reliance Industries: Reliance Consumer Products Limited, the FMCG arm and a wholly owned subsidiary of Reliance Retail Ventures Limited, will acquire 50 per cent equity stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited, which owns and operates a beverage business under the flagship brand ‘Sosyo’. The existing promoters, Hajoori family, will continue to own the remaining stake in SHBPL.
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Som Distilleries: The company has informed the exchanges that its IMFL (Indian Made Foreign Liquor) brand Genius Prestige Whiskey has taken a 46 per cent market in the state of Karnataka in its segment within three months of its launch.
IT stocks: Information Technology stocks will be in focus today after global brokerage JPMorgan raised target prices across tier-1 stocks. JPM has raised target on Wipro to Rs 370 (from Rs 360), HCL Tech to Rs 880 (from Rs 850), Infosys to Rs 1,700 (from Rs 1,600), and TCS to Rs 3,000 (from Rs 2,900).
Punjab Sind Bank: The lender’s gross advances at the end of December 31, 2022 stood at Rs 78,049 crore, registering a 17 per cent year-on-year (YoY) growth over last year’s Rs 66,710-crore loan book.
It’s total depostis were up 9.1 per cent YoY at Rs 109,497 crore. CASA deposits, too, advanced 11.3 per cent to Rs 36,460 crore with CASA ratio improving by 67 basis points.
RailTel: The Company has received the work order from South Eastern Coalfields Limited for providing MPLS VPN services at 529 Locations under SECL Command Area for the period of 5 Years. The total value of the work is Rs 186.19 crore (including GST).
Aarti Surfactants: The Board will meet on Monday, January 09, 2023, to consider and approve the number of shares to be issued on a rights basis, issue price, rights entitlement ratio for the proposed Right Issue, and to fix the Record Date.
Equitas Small Finance Bank: The Bank has received RBI’s approval allowing SBI Funds Management to acquire up to 9.99 per cent of the paid-up equity capital of the Bank through the schemes of SBI Mutual Fund.
PVR, Inox Leisure: In a relief to multiplexes, the Supreme Court on Tuesday said that theatre owners had the right to prohibit outside food and beverages on their premises. The Supreme Court, however, said that cinemas should allow parents to bring food for infants and children and provide free drinking water to all visitors.
IT stocks: Information Technology stocks will be in focus today after global brokerage JPMorgan raised target prices across tier-1 stocks. JPM has raised target on Wipro to Rs 370 (from Rs 360), HCL Tech to Rs 880 (from Rs 850), Infosys to Rs 1,700 (from Rs 1,600), and TCS to Rs 3,000 (from Rs 2,900).
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