Buzzing Stocks: Wipro, M&M, Bharat Electronics, IRCTC, Oil India, Adani Green Energy & others

Results on February 14: A total of 646 companies will announce their December quarter earnings scorecard on February 14, including Mahindra & Mahindra, Aditya Birla Fashion and Retail, Crompton Greaves Consumer Electricals, Dishman Carbogen Amcis, Gateway Distriparks, Gland Pharma, Glenmark Pharmaceuticals, Gujarat State Petronet, Indiabulls Housing Finance, Ipca Laboratories, Jyoti CNC Automation, Credo Brands Marketing, Muthoot Finance, Natco Pharma, Narayana Hrudayalaya, NMDC, Sun TV Network, and Wockhardt.

Wipro: The IT services company has invested $66 million in the US-based Aggne Global Inc. to strengthen its consulting and services capabilities in the insurance sector. Now the company will be acquiring a 60 percent stake in Aggne and has kept the option to purchase the remaining stake over a period of time. The transaction is expected to be completed by February 14, 2024.

Adani Ports and Special Economic Zone: Global rating agency Moody’s Investor Service has reaffirmed its investment grade rating at Baa3 on Adani Ports, maintaining a stable outlook.

Adani Green Energy: Global rating agency Moody’s Investor Service has reaffirmed its credit ratings on the company’s senior secured bond at Ba3, with a change in outlook from negative to stable.

Sula Vineyards: The country’s largest wine producer has registered net profit at Rs 43 crore for the October–December period of FY24, growing 9.4 percent over the corresponding period of the previous fiscal year, aided by healthy operating numbers. Revenue from operations grew by 4 percent YoY to Rs 217.5 crore for the quarter, with the own brands segment growing 3.9 percent to Rs 192.8 crore and the wine tourism business rising 16 percent to Rs 14.7 crore during the quarter.

Indian Railway Catering and Tourism Corporation: The state-owned company clocked a 17.4 percent on-year increase in standalone net profit at Rs 300 crore for the quarter ended December FY24. Revenue from operations grew by 21.8 percent year-on-year to Rs 1,118.3 crore for the quarter.

Oil India: The oil and gas Maharatna CPSE recorded standalone net profit of Rs 1,584.3 crore for the quarter ended December FY24, falling 9.3 percent compared to the year-ago period, impacted by a lower topline as well as dismal operating numbers. Revenue from operations fell 0.9 percent year-on-year to Rs 5,324 crore for the quarter with lower crude oil price realization and lower crude throughput of Numaligarh refinery, while EBITDA plunged 26.2 percent YoY to Rs 2,106 crore and margin dropped 1,353 bps YoY to 39.55 percent in Q3 FY24.

Zee Entertainment Enterprises: The media and entertainment company has registered a 141 percent on-year increase in net profit at Rs 58.5 crore for the third quarter of FY24, despite disappointing operating numbers. The base in Q3 FY23 was low as the profit was impacted by an exceptional loss. Revenue from operations fell 3 percent YoY to Rs 2,045.7 crore for the quarter, while EBITDA plunged 42.9 percent year-on-year to Rs 209.2 crore and margin declined 720 bps to 10.2 percent in Q3 FY24.

Bharat Electronics: The Navaratna defense DPSU has signed a contract worth Rs 2,167.47 crore with the Indian Navy for the supply of indigenously designed and developed electronic warfare (EW) suites for use on-board warships. This EW suite is a big leap towards the Aatmanirbhar Bharat initiative of BEL. It has also received additional orders worth Rs 114.59 crore since the last disclosure on January 30, and these orders pertain to the supply of SDRs, HD VLF receivers, EVMs, etc. With this, BEL has received cumulative orders of Rs 30,776.06 crore in the current financial year.

Jana Small Finance Bank: Trading in equity shares of the small finance bank will commence on the BSE and NSE with effect from February 14. The final issue price is Rs. 414 per share.

MTAR Technologies: The precision engineered systems manufacturer has reported a 67 percent on-year decline in net profit at Rs 10.4 crore for the quarter ended December FY24 due to subdued topline and operating numbers. Revenue from operations fell 26.1 percent year-on-year to Rs 118.4 crore during the quarter.

Prestige Estates Projects: The south-based real estate developer has recorded consolidated net profit of Rs 164.7 crore for the October–December period of FY24, growing 1.85 percent over the corresponding period of the last fiscal year, supported by a healthy operating margin and higher other income but impacted by a subdued topline. Revenue from operations dropped 22.5 percent year-on-year to Rs 1,796 crore for the quarter.

Ahluwalia Contracts (India): The construction company has registered a massive 56.3 percent on-year growth in consolidated net profit at Rs 70.2 crore for the third quarter of FY24, supported by strong topline as well as operating numbers. Revenue from operations increased by 38.1 percent year-on-year to Rs 1,026.5 crore for the quarter.

Deepak Nitrite: The chemicals manufacturing company has reported consolidated net profit of Rs 202 crore for the third quarter of FY24, falling 3.3 percent compared to the corresponding period of the last fiscal year, with muted topline growth and subdued operating numbers. Revenue from operations grew by 0.9 percent year-on-year to Rs 2,009.2 crore for the quarter.

Hindustan Copper: The state-owned company has recorded standalone net profit of Rs 63 crore for the third quarter of FY24, falling 21.4 percent compared to the corresponding period of the previous fiscal year, impacted by subdued topline numbers. Revenue from operations fell by 28.3 percent YoY to Rs 399.3 crore during the quarter.

Coffee Day Enterprises: The Cafe Coffee Day chain operator has reported net profit of Rs 69 crore for the quarter ended December FY24, against a loss of Rs 402 crore in the corresponding period of the last fiscal, backed by strong operating numbers. Revenue from operations stood at Rs 257 crore for the quarter, growing 5 percent over a year-ago period.

National Aluminium Company: The state-run alumina and aluminum manufacturer has recorded consolidated net profit of Rs 470.61 crore for the October–December period of FY24 despite muted topline growth, backed by strong operating numbers with a fall in in-push costs and power and fuel costs. Revenue from operations grew by 1.5 percent year-on-year to Rs 3,347 crore for the quarter.

Gujarat Gas: The city gas distribution company has reported a nearly 41 percent on-year decline in net profit at Rs 220.3 crore for the third quarter of FY24, impacted by weak operating numbers and higher input costs. Revenue from operations increased by 6.6 percent year-on-year to Rs 3,929.1 crore for the quarter, with sales volumes rising by 26 percent to 9.16 mmscmd YoY.

Rashi Peripherals: The information and communication technology products distributor is set to list equity shares on the bourses on February 14. The final issue price has been fixed at Rs. 311 per share.

Capital Small Finance Bank: The small finance bank is going to debut on the BSE and NSE on February 14. The final offer price has been set at Rs. 468 per share.

NBCC: The state-owned construction company has registered a massive 60.3 percent on-year growth in consolidated net profit at Rs 110.7 crore for the quarter ended December FY24 due to lower exceptional losses and healthy operating numbers. Revenue from operations grew by 13 percent year-on-year to Rs 2,412.6 crore for the quarter.

Rashtriya Chemicals & Fertilizers: The fertilizer company has reported consolidated net profit at Rs 11.22 crore for the October-December period of FY24, falling sharply by 95.4 percent compared to the year-ago period, as revenue from operations fell 21.4 percent to Rs 4,903.5 crore during the same period.

Nuvama Wealth Management: The company has posted net profit at Rs 176.2 crore for the third quarter of the current financial year 2023–24, growing 101.6 percent over a year-ago period, with revenue from operations increasing 45.3 percent year-on-year to Rs 840.6 crore and net interest income rising 104.5 percent year-on-year to Rs 139.7 crore for the quarter.

Garden Reach Shipbuilders & Engineers: The state-run shipbuilding and repairing company has posted net profit at Rs 88.3 crore for the third quarter of the current financial year 2023–24, growing 38 percent over a year-ago period despite a lower operating margin, aided by topline and other income. Revenue from operations grew by 32.1 percent year-on-year to Rs 923.1 crore for the quarter.