Buzzing Stocks: M&M, HDFC Bank, NHPC, Avenue Supermarts, ICICI Pru, others in news

Mahindra and Mahindra: Subsidiary Mahindra Aerostructures (MASPL) and Airbus Aerostructures GmbH have signed a contract for the manufacture and delivery of metallic components for all Airbus commercial aircraft models, including the best-selling A320 family. Under the contract, MASPL will supply close to 5,000 varieties of metallic components to Airbus in Germany from its manufacturing base in India.

HDFC Bank: The equity shares will be in focus on January 18 as HDFC Bank ADR (American Depository Receipt) ended sharply lower by 9 percent at $55.59 on the NYSE on January 17 after negative opinion by most analysts on the private sector lender’s weak set of numbers for the quarter ended December FY24.

NHPC: The Government of India will be selling a 3.5 percent stake in the power company via offer-for-sale (OFS), with a floor price of Rs 66 per share. The OFS comprises a base issue size of 2.5 percent and a green shoe option of 1 percent. OFS will open for non-retail investors on January 18 and for retail investors on January 19.

IIFL Finance: The company has reported a 17.2 percent on-year decline in standalone profit at Rs 131.65 crore for the quarter ended December FY24, partly impacted by an increase in net loss on fair value changes, net loss on derecognition of financial instruments, and impairment on financial instruments. Revenue from operations jumped 17.65 percent YoY to Rs 1,158.7 crore in Q3 FY24.

Results on January 18: IndusInd Bank, 360 ONE WAM, Finolex Industries, Home First Finance Company India, IndiaMART InterMESH, Innova Captab, Jindal Stainless, Mastek, Metro Brands, Polycab India, Poonawalla Fincorp, Ramkrishna Forgings, Shoppers Stop, South Indian Bank, Supreme Petrochem, Sterling and Wilson Renewable Energy, and Tata Communications will be in focus ahead of quarterly earnings on January 18.

ICICI Prudential Life Insurance Company: The life insurance company has reported a 3.1 percent on-year increase in net profit at Rs 227.47 crore for the quarter ended December FY24. Net premium income rose 4.9 percent year-on-year to Rs 9,928.8 crore, and net commission jumped 156 percent to Rs 1,001.7 crore compared to the year-ago period.

RailTel Corporation of India: The state-owned railway company has received a work order amounting to Rs 82.4 crore from South Central Railway. The work order includes comprehensive ground infrastructure works for the provision of 4G LTE-R in 523 RKM of Secunderabad division in South Central Railway.

Avenue Supermarts: The D-Mart operator has opened two new stores at Velan Mall, Tirupur (Tamilnadu) and Sehore (Madhya Pradesh). The total number of stores as of today stood at 344.

Cochin Shipyard: The company has opened a new dry dock and the international ship repair facility (ISRF) in Kochi. The new dry dock, costing Rs 1,799 crore, is set up at the existing premises of Cochin Shipyard in Kochi. The ISRF project, costing Rs 970 crore, is set up on 42 acres of leased premises of the Cochin Port Authority at Willingdon Island, Kochi.

LTIMindtree: The technology consulting and digital solutions company has registered a 0.6 percent QoQ growth in net profit at Rs 1,169.3 crore for the quarter ended December FY24 due to weak operating margin performance. Revenue from operations during the third quarter of FY24 increased by 1.2 percent QoQ to Rs 9,016.6 crore, and revenue in dollar terms grew by 0.8 percent sequentially to $1,083.7 million for the quarter. The EBIT margin dropped 60 basis points (QoQ to 15.4 percent for the quarter.

Alok Industries: The textile company has posted a consolidated net loss of Rs 229.2 crore for the quarter ended December FY24, narrowing from a loss of Rs 249.83 crore in the year-ago period. Revenue from operations fell by 27 percent YoY to Rs 1,253 crore in Q3 FY24.

Nazara Technologies: The gaming and sports media platform, said its board has approved a preferential allotment of equity shares to raise up to Rs 250 crore. The company is proposing to issue up to 28,66,474 equity shares at a price of Rs 872.15 per equity share to Nikhil Kamath’s Kamath Associates, NKSquared, Plutus Wealth Management, Chartered Finance & Leasing, and ICICI Prudential Mutual Fund. Further, Nazara received board approval for the acquisition of a 10.77 percent stake in Kofluence Tech, the social media influencer-led marketing-tech platform, from certain existing investors through a share swap.

Som Distilleries and Breweries: The alcoholic beverage manufacturer has registered a 71 percent on-year growth in consolidated profit at Rs 18 crore for the October-December quarter of FY24, backed by strong topline and operating performance. Revenue from operations (excluding excise duty) during the same period increased by 79.3 percent YoY to Rs 266.3 crore.

Persistent Systems: The Pune-based IT services company said the board may consider a proposal of alteration in the share capital of the company by sub-division or split of the existing equity shares having a face value of Rs 10 each on January 19–20.

Pricol: Investor Minda Corporation exited Pricol by selling its entire personal shareholding of 15.7 percent via open market transactions. Minda sold 1,83,76,431 equity shares at an average price of Rs 343.5 per share and 7,46,027 shares at an average price of Rs 345.98 per share. However, Goldman Sachs India, Aditya Birla Sun Life Insurance Company, ICICI Prudential Mutual Fund, Tata Mutual Fund, TNTBC as the trustee of Nomura India Stock Mother Fund, Fidelity Funds India Focus Fund, and Employees Provident Fund bought 1,68,83,171 equity shares in the company, which is equivalent to 13.85 percent of equity capital, at an average price of Rs 343.5 per share, valued at Rs 580 crore.

Happiest Minds Technologies: The IT services company has recorded a 3.5 percent on-year and 2 percent sequential growth in net profit at Rs 59.6 crore for the October-December quarter of FY24. Revenue from operations grew by 11.7 percent year-on-year and 0.8 percent quarter-on-quarter to Rs 409.9 crore during the quarter. Revenue growth in dollar terms was 0.5 percent QoQ and in constant currency at 0.8 percent for the December quarter.

Oracle Financial Services Software: The Oracle-owned company has recorded a 69 percent on-year growth in net profit at Rs 741 crore for the October-December quarter of FY24. Revenue from operations during the same period grew by 26 percent YoY to Rs 1,824 crore, and operating income rose by 45 percent YoY to Rs 840 crore.

Indiabulls Housing Finance: The housing finance company has received board approval for raising funds up to Rs 5,000 crore through the issue of equity shares or any other convertible or exchangeable securities.

Speciality Restaurants: The food services company has registered a 10 percent on-year decline in consolidated net profit at Rs 13.83 crore for the quarter ended December FY24, dented by weak operating margin performance. Consolidated revenue from operations grew by 11.8 percent to Rs 116 crore compared to the year-ago period.

Balaji Amines: The company has received BIS certification for the product Morpholine from the Bureau of Indian Standards for Unit-III at Chincholi MIDC, Maharashtra.

Uniparts India: Uniparts Olsen Inc., a wholly owned subsidiary company in the USA, has received an order of $1.2 million from Doosan Bobcat North America Inc. Uniparts will supply construction equipment parts in the normal course of business. The order is expected to increase to $5 million in the next 5 years.

Intellect Design Arena: The company has received approval from the authorities of Gujarat International Finance Tech City (GIFT City), Gandhinagar, Gujarat, to set up its branch office at the International Financial Services Centre, GIFT City SEZ, Gujarat. The branch office established in GIFT City SEZ is planned for AI-enabled product development and a center of excellence for customer success.

Australian Premium Solar (India): The company will list its equity shares on the NSE Emerge on January 18. The final issue price has been fixed at Rs. 54 per share. Its equity shares will be available for trading in the trade-for-trade segment.

Dhatre Udyog (formerly known as Narayani Steels): Aditya Agarwal, a part of the promoter group, will be selling 11.5 lakh equity shares (representing 10.55 percent of paid-up equity) in the company via OFS. The OFS will open for non-retail investors on January 18 and retail investors on January 19.

Zaggle Prepaid Ocean Services: The company has entered into an agreement with Torrent Gas to implement a close-loop fleet program. The gross transaction volume is estimated at Rs 200 crore.

New Swan Multitech: The company will list its equity shares on the BSE SME on January 18. The issue price is Rs. 66 per share. The stock will be in the trade-for-trade segment for 10 trading days.

Grindwell Norton: The company has executed a shareholder agreement and share issue agreement with Advanced Synthetic Minerals (ASM) to hold 49 percent of the equity share capital of ASM.