The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
India's leading private sector telecom services provider, Bharti Airtel on Friday reported a whopping 98 per cent net profit at Rs 1,353 crore (Rs 13.53 billion) for the fourth quarter ended March 31, compared to the same period last year.
Tata Steel delivered one of its best financial performances ever in the third quarter of the current financial year, and surpassed its deleveraging target of $1 billion. In an interview, Koushik Chatterjee, executive director and chief financial officer, Tata Steel, tells Ishita Ayan Dutt that the company will continue to focus on deleveraging but profitable and value-added growth will be equally important.
SBI is expected to mop up almost $202 million via the share sale.
A weak margin outlook in the near term and lack of fresh triggers may keep the Godrej Consumer Products (GCPL) stock under pressure. The stock, after tepid September quarter (Q2) results and marginal downward revision in earnings estimates, declined 3.5 per cent in trade on Friday. Though consolidated sales of the company, which owns the Goodknight and Cinthol brands, grew 8.5 per cent year-on-year (YoY), its operating profit declined because of the sharp contraction in margins.
From the 30-share pack, Infosys, Tech Mahindra, TCS, HDFC, HDFC Bank, Wipro and HCL Technologies were among the major laggards in early trade. Nifty tumbled 314.95 points to 17,160.70.
ICICI Bank puts up a good show in Q4.
India's largest carmaker, Maruti Udyog Ltd on Friday reported an impressive 65 per cent jump in net profit in fourth quarter of 2004-05 to Rs 259.45 crore as compared to Rs 157.15 crore during the year ago period.
'Favourable product mix, sales recovery, and cost saving initiatives are expected to support margins going ahead while focus on debt reduction (target of debt free by FY24) will aid balance sheet strength'
After new-age tech companies reported better-than-expected June quarter (Q1FY23) results, analysts said it will be a long road to recovery for their respective businesses and the stock prices. Moreover, brokerages differ on whether it is the right time to own these stocks. The common thread, however, that runs across most brokerages is Zomato, where they suggest buying the stock with the one-year target price ranging between Rs 60 - 115, translating into an upside of around 9 - 109 per cent from the current levels. The company's gross order value (GOV) of food delivery jumped 10 per cent quarter-on-quarter (QoQ) and 42 per cent year-on-year (YoY) in Q1, aided largely by growth in volume, and mild growth in average order value (AOV) at 1-2 per cent. The company also broke even on an adjusted Ebitda basis during the quarter.
The company reported 2.13 per cent growth in consolidated net profit as per International Financial Reporting Standards.
The laggards include FMCG (16 per cent), Energy (37 per cent) and Media (34 per cent).
The broader markets outperformed the benchmark indices- BSE Midcap and Smallcap indices gained 0.4% each
Glaxo SmithKline Consumer Healthcare Ltd has posted a net profit of Rs 105.80 million for the quarter ended December 31, 2002 as compared to Rs 303.90 million in the quarter ended December 31, 2001.
Sensex eneded lower on poor perfromance by financials and IT stocks.
Britannia Industries will take higher grammage cuts instead of increasing prices in a bid to tackle rising inflation, the firm said. The biscuit major took a 10 per cent price hike in financial year 2021-22 (FY22) and resorted to reducing pack sizes as an indirect way of increasing prices. In the previous financial year, the ratio of grammage reduction was 65 per cent, which will be higher in FY23.
The mobile data revenue at Rs 2,324 cr registered a growth of 70 per cent
However, experts caution that investors should not expect the big returns they got from the sector between March and September 2020.
In addition, he will have to move swiftly to control any damage that may have been caused to the bank's image and investor confidence due to the loan controversy
Tata Sons, India's biggest promoter in the private sector, is expected to earn a record Rs 27,797 crore via equity dividend and proceeds through share buyback from its listed group companies for the financial year 2021-22. This amount is up 17.6 per cent from Rs 23,663 crore that it pocketed in FY21. Nearly two-thirds of these proceeds will show up in Tata Sons' financial results for FY22, thanks to the quarterly interim dividend by its cash cow Tata Consultancy Services (TCS).
A looming global shortage of diesel in Europe presents India with more than one opportunity to profit from strong margins. A shortage of the fuel, a key contributor to inflation, has been exacerbated by the conflict in Ukraine, and western sanctions on Russian fuel supplies. The slowdown in natural gas supply means the West needs diesel to heat their homes this winter.
The company, which sells every second car in the domestic market, said it expected production and sales to grow between 4 per cent and 8 per cent for the financial year started in April.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
Total network minutes rise 5% q-o-q but revenue per minute down 1.9%
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
Without exception, the top four majors beat Street estimates across all parameters - revenues, profitability, or net profit growth. However, what stood out were the large deal wins reported by the big two, TCS and Infosys.
Cipla's fortunes on Monday took a veritable bow after the company said Friday that Q4 net profit dropped 24%.
In recent past, midcap stocks have performed well, say experts.
The S&P BSE Midcap and the S&P BSE Smallcap indices slipped in red to shed over 1% each
Larsen & Toubro edged up 2.55% to Rs 223.20 after posting a 42% rise in net profit for Q4.\n\n\n\n
Lupin was bound downward today after the company announced an 83.6% drop in net profit for Q4.
LML set off the blocks, rising 3.66% to Rs 29.75, what with a net profit growth of 41.44% for Q4.
Markets ended lower amid volatile trade with Sun Pharma leading the decline.
Defying trends, the country's largest private sector lender, HDFC Bank, has shifted its asset mix significantly towards high-rated segments. As a result, its wholesale-to-retail mix has tilted heavily in favour of wholesale, even at the cost of margins. Further, it is even looking to ramp up its branch network, with an aim to service clients within a 1-2 km radius rather than the current 5-6 km radius.
Yes Bank CEO said the private lender is disposing some of the properties in many other cases as well. He, however, declined to elaborate on borrowers against whom such action was underway.
The combined profit before tax of 748 companies, which have declared their results for Q1FY21, is down 46 per cent YoY. Their net sales went down by a quarter as the Covid-19 lockdown led to a sharp fall in economic activity.
