Stocks To Focus: The January futures contract of the Nifty 50 on the Singapore Exchange indicates a positive start for domestic equities. The contract was trading at 18,221 points, up 74.5 points or 0.41% from the previous session.
Volatility ahead of the expiry of the January contract is likely in the domestic market. Moreover, stock-specific action will be seen as a bunch of companies will detail earnings.
Earnings Today: Apollo Pipes, Aurionpro Solutions, CarTrade Tech, CG Power and Industrial Solutions, Chalet Hotels, Elecon Engineering, Gateway Distriparks, Geojit Financial Services, Granules India, HDFC AMC, Indoco Remedies, Indus Towers, Latent View Analytics, Macrotech Developers, Maruti Suzuki, Mor-tek Realty, Nazara Technologies, Parag Milk Foods, Pidilite Industries, PNB Housing Finance, Punjab Chemicals, Quick Heal Technologies, Sasken Technologies, SBI Card, Sharda Corpchem, Sona BLW, Sonata Software, South Indian Bank, Strides Pharma, Supreme Industries, Tata Coffee, Tatva Chintan Pharma, Triveni Engineering, TVS Motor Company, UCO Bank, United Spirits and Vaibhav Global were among the prominent companies to announce December quarter results on Tuesday.
Maruti Suzuki: According to analysts, the auto major may see sequential decline in net profit and revenue due to moderation in sales volume. Net profit may come in the range of Rs 1,794.40 crore to Rs 1,940 crore, as per brokerages’ estimates.
Axis Bank: The bank reported a 62 per cent YoY jump in standalone net for the October-December quarter at Rs 5,853.07 crore as strong growth in net interest income (NII) bolstered the bottomline despite higher provisions. The bank’s NII rose sharply by 32 per cent YoY to Rs 11,459 crore.
Bank of Baroda (BoB), CG Power and Industrial Solutions: According to an analysis by Nuvama Alternative & Quantitative Research, Bank of Baroda and CG Power and Industrial Solutions may get added to MSCI global standard index during the forthcoming rebalancing exercise. The analysis peg likely inflows of $150 million each.
Container Corporation (ConCor): The company’s Q3 net profit grew 8 per cent to Rs 307.71 crore in the quarter ended December 2022 as against Rs 284.82 crore in the year ago period. Total income was up 6 per cent at Rs 2,102.66 crore.
HFCL: The company’s Q2 net grew 14 per cent to Rs 79.90 crore in the quarter ended December 2022 as against Rs 70.11 crore in the quarter ended December 2021. Total income, however, declined 9.2 per cent YoY to Rs 1,008.15 crore. Meanwhile, the company has planned a capex worth Rs 357 crore.
Zomato: The company’s CEO Deepinder Goyal announced 800 job vacancies across 5 roles via a Linkedin post. These roles include Chief of Staff to the CEO, generalist, growth manager, product owner and software development engineer.
Jewellery-related: Shares of Gold related businesses are likely to be in focus amid reports that the government is considering bringing the effective duty on Gold to below 12 per cent. Currently, the effective duty on gold is 18.45 per cent, which includes 12.5 per cent import duty, 2.5 per cent agriculture infrastructure development cess and other taxes.
Amber Enterprises: The company reported a net loss of Rs 5.50 crore for the quarter ended December 2022 as against a profit of Rs 14.48 crore in the year ago period. Total income, however, was up 37.5 per cent YoY at Rs 921.55 crore.
Supreme Petrochem: The company’s net profit plunged 45.5 per cent to Rs 89.59 crore in the quarter ended December 2022 as against Rs 164.54 crore in the year ago period. Total income was down 8.4 per cent YoY at Rs 1,194.57 crore.
Syngene Internatinal: The company’s net rose nearly 6 per cent to Rs 109.50 crore in Q3FY23 from Rs 103.40 crore in Q3FY22. Total income was up 23.2 per cent YoY at Rs 803.80 crore.
Selan Exploration: The company’s Q3 net more-than-doubled to Rs 7.61 crore in the quarter ended December 2022 as against Rs 3.1 crore in the corresponding quarter a year ago. Total income jumped 50.3 per cent to Rs 32.06 crore.
Poonwalla Fincorp: The company’s standalone net soared 88 per cent YoY to Rs 150 crore, in the third quarter of FY23. Net NPAs declined by 108 bps to 0.89 per cent.
DCX Systems: The company’s Q3 standalone net declined 5 per cent YoY to Rs 17.29 crore in the quarter ended December 2022 against Rs 18.21 crore in the year ago period. Total income was down 15 per cent at Rs 362.36 crore.
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