Stocks to Watch: Adani Group, Tata Motors, Dr.Reddy's, DLF, Airtel, IGL

Stocks to Watch: Adani Enterprises FPO and Earthstahl & Alloys IPO opens for subscription on Friday. Shares of Adani Group companies also likely to be in focus amid the Hindenburg controversy.

Stocks to Watch Today: Indian markets are likely to pullback in Friday’s opening trades following the steep losses on Wednesday’s as global cues were supportive. At 07:10 AM, the SGX Nifty futures quoted at 18,031, indicating an opening gain of 50-odd points on the Nifty 50 index.

Today, also marks the first trading day for the F&O February series. And also, a landmark day for Indian equity markets, with all the listed stocks entering the T+1 (trading plus one day) settlement cycle. Here’s what the experts say about the latter move. READ MORE

Meanwhile, following stocks are likely to be in focus in Friday’s trade.

Earnings Watch: Aarti Drugs, AIA Engineering, Bajaj Finance, Godfrey Phillips, Ramco Industries, Responsive Industries, TajGVK Hotels, Vedanta and Vimta Labs are few of the notable companies scheduled to announce December quarter results today.

Adani Enterprises: The Gautam Adani Group’s flagship company’s mega Rs 20,000 crore FPO opens for subscription today. So far, the company has garnered Rs 5,985 crore from anchor investors on allotting shares at the higher-end of the price band at Rs 3,276 apiece.

As the company is issuing partly paid up shares, AEL will collect Rs 1,638 per share from investors in the first tranche.

Meanwhile, amid the ongoing controversy between the Adani Group Hindenburg Research, the latter said it stands by its report and shall demand company documents in the US courts. The said statement came, after Adani Group said it was examining legal action against Hindenburg, the US-based investment research firm that specialises in activist short-selling, 

Earlier on Wednesday, Hindenburg stated that its two-year investigation revealed that Adani Group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades". READ MORE

Bajaj Auto: The auto major’s operating performance for the December quarter comfortably beat Street expectations. It’s capitalisation posted a 29 per cent increase in operating profit to Rs 1,777 crore, its highest till date, led by higher margins and an improved topline show. READ ANALYSIS

Tata Motors: After clocking losses for seven straight quarters, Tata Motors has posted a consolidated net profit of Rs 3,043 crore in Q3FY23. This came on the back of a strong order book, better semiconductor chip supply, tempered commodity prices, and a better product mix. Total income jumped 22.9 per cent YoY to Rs 89,618 crore. READ MORE

Dr Reddy’s Laboratories: The pharma major posted a strong 77 per cent growth in net profit at Rs 1,247 crore riding on the back of a 27 per cent rise in revenues largely driven by the North American and Russian markets. Revenues jumped to Rs 6,770 crore.

Maruti Suzuki: The company will launch its first electric vehicle (EV) in the next financial year, and will roll out six EVs by FY30, the automaker’s parent firm Suzuki said on Thursday. READ MORE

Meanwhile, pending orders for Maruti jumped to around 405,000 units this month as the inflow of bookings continues to be steady 

Bharti Airtel, RIL: Airtel and Jio have been able to garner over 20 million 5G customers in less than four months after the official launch of the service in October, according to industry estimates.  READ MORE

Tata Chemicals: Essar group-promoted Vertex Hydrogen has signed a deal for the sale of over 200 megawatts of low-carbon hydrogen to Northwich-based Tata Chemicals Europe (TCE),.

DLF: Realty major has achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December this fiscal on better demand and is on track to achieve its annual sales guidance of Rs 8,000 crore, a senior company official said.

Meanwhile, the company reported a net profit of Rs 519.21 crore for Q3FY23 as against Rs 379.48 crore in Q3Fy22. The rise can be attributed to the exceptional item (expense) of Rs 224.43 crore reported in the year-ago quarter. Total income during the quarter was down 7.5 per cent YoY at Rs 1,560 crore 

Indraprastha Gas (IGL): The company’s Q3 consolidated net slipped 11 per cent to Rs 334.06 crore, as the retailer held prices despite rise in input cost. Revenue from operations, however, soared 67.7 per cent YoY to Rs 4,089.03 crore.

Torrent Pharmaceuticals: The company’s Q3FY23 net rose 14 per cent YoY to Rs Rs 249 crore on the back of good growth in the India and Brazil markets. Total income stood at Rs 2,491 crore.

TeamLease Services: The company reported a dip in its net profit for the third quarter of FY23 at Rs 29 crore as against Rs 30 crore in a year ago period. Total income was up 14 per cent YoY at Rs 2,108 crore. 

Further, the company’s board is scheduled to meet on February 03, 2023 to considering a proposal for share buyback.

Happiest Minds Technologies: It has signed an agreement to acquire Madurai-headquartered IT services company SMI through a combination of upfront and deferred equity consideration amounting to Rs 111 crore.

Indian Bank: The state-run bank reported nearly two-fold jump in profit at Rs 1,396 crore in the quarter ended December 2022, driven by increase in interest income and decline in bad loans. Total income increased 18 per cent YoY to Rs 13,551 crore.

In the primary market, apart from Adani Enterprises’ FPO, Earthstahl & Alloys maiden share sale opens for subscription in the price band of Rs 38 to Rs 40. Both issues close on January 31, 2023.