Stocks to Watch: Airtel, Vedanta, IRCTC, Bata, Jindal Steel, RITES, Power

Joseph B. Hash


The key benchmark indices are likely to start trade with marginal gains on the back of encouraging cues from the overseas markets. As of 07:55 AM, the SGX Nifty futures quoted at 17,335, indicating a likely gain of 50-odd points at the opening bell. Meanwhile, here are the top stocks in focus for trade on Wednesday.


Earnings Watch: 3i Infotech, Aban Offshore, Abbott India, ACC, Aurobindo Pharma, Balmer Lawrie, BASF, Bharat Bijlee, Berger Paints, Bharat Gears, Bosch, DCB Bank, Engineers India, Essar Shipping, FDC, Finolex Cables, GMR Infrastructure, Gufic Biosciences, Gulf Oil Lubricants, HEG, Hercules Hoists, Indiabulls Housing Finance, Igarashi Motors, Ingersoll Rand, Kanoria Chemicals, Kirloskar Electric Company, Kirloskar Oil Engines, Lumax Auto Technologies, Madhucon Projects, NDTV, NITCO, Nykaa, Patel Engineering, Petronet LNG, Procter & Gamble, Pilani Investment, PowerGrid Corporation of India, Prestige Estates, Pricol, SAIL, Sanghvi Movers, Sharda Motor, Shree Rama Multi Tech, SKF India, Spencers Retail, Star Paper Mills, STC India, Sundaram Clayton, Talbros Automotive Components, Tata Power, TN Petroproducts, Tree House Education and TTK Healthcare are some of the companies to announce December quarter results today.


Power stocks: Both power generation and the non-power sector (manufacturing units) have claimed short supply of coal, and also alleged bad quality coal supply by Coal India. At the national level, the current stock of coal at power generation units stands at an average of 9.8 days (38 per cent of the normative 24 days stock), according to data available on the National Power Portal. READ MORE

Bharti Airtel: The telecom major’s net profit dipped 2.8 per cent YoY to Rs 830 crore in Q3FY22. Its operational performance was better than Street estimates, but the net profit fell short of expectations, mainly because of higher tax outgo. The company’s revenue grew 12.6 per cent YoY to Rs 29,867 crore, and the average revenue per user (ARPU) rose 11.6 per cent YoY to Rs 163 due to an increase in mobile tariffs in late November. READ MORE








Vedanta: The Anil Agarwal-owned company plans to tie up with an investor to set up a specific acquisition fund to make a bid for Bharat Petroleum Corporation (BPCL) which is slated for privatisation by the Indian government. READ MORE

Godrej Consumer Products Ltd (GCPL): The FMCG major reported a 4.9 per cent YoY increase in consolidated net profit at Rs 527.60 crore for Q3FY22. Total revenue grew 8.1 per cent YoY at Rs 3,302.58 crore. READ MORE

IRCTC: The company’s Q3FY22 net zoomed 167.4 per cent YoY to Rs 208.80 crore when compared with Rs 78.08 crore in Q3FY21. Total income also soared 140.8 per cent YoY to Rs 540.21 crore.


Jindal Steel: The company’s Q3 net profit declined 33.5 per cent YoY to Rs 1,621.68 crore for the quarter ended December 2021 when compared with Rs 2,439.89 crore in the year ago period. Total income, however, surged 35 per cent YoY to Rs 12,524.86 crore.


NMDC: The state-owned company reported a marginal 2.8 per cent YoY drop in consolidated profit at Rs 2,048.40 crore for the quarter ended December 31, 2021 on the back of higher expenses. Total income, however, surged 35.1 per cent YoY to Rs 6,026.68 crore. READ MORE

BSE: The oldest stock exchange in the country reported 86 per cent YoY jump in net profit at Rs 58.6 crore for Q3FY22. Total revenues soared 60 per cent YoY to Rs 192.7 crore. The strong growth was driven by a 44 per cent YoY gain in average daily turnover (ADTV) in the equity cash segment to Rs 5,217 crore. The ADTV for the equity derivatives and currency derivatives segments rose 23 per cent to Rs 2.47 trillion and 29 per cent to Rs 27,124 crore, respectively. READ MORE

Infrastructure Leasing & Financial Services (IL&FS): The board of debt laden company approved a proposal enabling interim distribution of proceeds to the extent of Rs 20,000 crore by March end to creditors of the group from the resolution of the entities of the group. An affidavit has been filed with the NCLAT requesting permission for the same. READ MORE

IDFC First Bank: The private sector lender raised Rs 1,500 crore in capital through its maiden issue of tier-II bonds to bolster capital profile and support business growth. The initial issue size was of Rs 1,000 crore with a green shoe option of up to Rs 500 crore. Life Insurance Corporation of India subscribed to more than 60 per cent of the issue. READ MORE

Take Solutions: The company’s loss in Q3 widened to Rs 41.84 crore for the quarter ended December 2021 as against a net loss of Rs 25.46 crore in the corresponding quarter a year ago. Total income was down 4.4 per cent YoY at Rs 216.08 crore.


Indraprastha Gas (IGL): The company’s Q3FY22 consolidated net declined 1.9 per cent YoY at Rs 374.76 crore, even as total income surged 52.3 per cent YoY to Rs 2,468.85 crore.


Glenmark Life Sciences: The company reported 11.1 per cent YoY rise in Q3FY22 net profit at Rs 103.71 crore from Rs 93.36 crore in Q3FY21. Total income was up 4.5 per cent YoY at Rs 522.50 crore.


Bata India: The footwear major’s Q3 consolidated net profit nearly tripled to Rs 72.32 crore in the quarter ended December 2021 when compared with Rs 26.42 crore in the year ago period. Total income surged 35.9 per cent YoY to Rs 854.80 crore.


RITES: The company’s Q3FY22 consolidated net jumped 36.6 per cent YoY to Rs 143.87 crore. Total income also soared 64.9 per cent YoY to Rs 791.65 crore.


Latent View Analytics: The company’s Q3 net profit more-than-doubled to Rs 49.92 crore in the quarter ended December 2021 as against Rs 22.45 crore in the corresponding quarter a year ago. Total income grew 37.7 per cent YoY to Rs 107.75 corre.


Data Patterns (India): The company posted a net profit of Rs 8.96 crore in Q3FY22 as against a net loss of Rs 4.4 crore in Q3FY21. Total income zoomed over 95 per cent YoY to Rs 43.84 crore.


Stocks in F&O ban: BHEL is the only stock in the F&O ban period on Wednesday.

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