From Axis Bank to Maruti Suzuki and many more, here are the stocks to watch out for in today's trading session.
Axis Bank | Net Interest Income growth of 32.4 percent year-on-year in the December quarter is the best in nearly seven years. Return ratios have also been the best in seven-and-a-half years or more. Asset quality is also the best in close to seven years. However, deposit growth of 9.9 percent year-on-year is the weakest in seven quarters while slippages are elevated. Net Interest Margin of 4.26 percent is at a 30-quarter high.
Maruti Suzuki | The company has announced the decision to recall 11,177 Grand Vitara vehicles manufactured between August 8 and November 15, 2022 due to a suspected defect in rear seat belt mounting brackets, which in a rare case may loosen in the long run and impact functionality. The inspection and replacement of the affected parts will be done free of cost. The company will also report its December quarter results today. Read more about the street expectations here.
Tata Motors | Tata Motors on Monday said the voluntary delisting of its American Depositary Shares, representing ordinary shares, from the New York Stock Exchange will become effective close of trading on January 23, 2023. After Monday, there will be no over-the-counter market trading of the American Depositary Shares (ADSs) in the US due to regulatory restrictions under Indian law.
Welspun Corp | Associate company East Pipes Integrated Company for Industry in the Kingdom of Saudi Arabia has announced signing of contracts for the supply of steel pipes for water transmission with a total value of around 569 million Saudi Riyal. One of the contracs is with NEOM, valued at 373 million Riyal, where the pipes have to be supplied within 12 months. The financial impact of the same will be in Q1 of the next financial year. The second order is with Petrojet, valued at 196 million Riyal and the financial impact of the same would be in the first and second quarter of next year.
Dilip Buildcon | JV with Skyway Infraprojects Pvt. Ltd. declared as the L-1 bidder for the tender floated by the Madhya Pradesh Jal Nigam for a project worth Rs 1,947 crore. The said project has to be completed in 24 months. Additionally, Raipur-Visakhapatnam CG2 Highways Ltd., a wholly-owned subsidiary has also received the appointed date letter from the NHAI for development of six lane corridor in Chhattisgarh. The project cost is worth Rs 1,255 crore. Financial closure for the said project was achieved in September last year.
Gland Pharma | The company's December quarter earnings missed estimates on the revenue and profit front. This was the third straight quarter of the company reporting a decline in revenue and net profit. Revenue for the quarter declined 12 percent compared to estimates of it being flat. Core markets revenue declined 11 percent while India revenue declined 32 percent. The management said business environment remains challenging and supply chain issues continue to impact the business.
Syngene International | Revenue growth above 20 percent for the second straight quarter but misses estimates of 27 percent growth. Net profit below estimates but in-line with guidance of single-digit growth. Maintains high-teen revenue growth, 30 percent EBITDA margin and single-digit profit growth guidance for the current financial year.
Container Corporation (CONCOR) | Drop in EXIM business impacts overall performance. Net profit aided by other income, which nearly doubled year-on-year. Land License Fee (LLF) for the first nine months of the current financial year at Rs 288.5 crore.
Jammu and Kashmir Bank | Net Interest Income for the December quarter rises 26 percent from last year while Net profit jumps nearly 80 percent aided by other income. Asset quality is stable but slippages increased 41 percent sequentially.
Shoppers Stop | Retail chain Shoppers Stop on Monday reported an 18.86 percent decline in consolidated net profit at Rs 62.74 crore in the third quarter that ended on December 31, 2022. The company had posted a consolidated net profit of Rs 77.32 crore in the same period last fiscal, it said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 1,137.07 crore as against Rs 958.11 crore in the same period a year ago, it added.