Stocks to Watch: Delta Corp, L&T, HCC, Anupam Rasayan, Voda Idea, IT shares

Delta Corp will be in focus ahead of its Q3 earnings, the stock is also in F&O ban. HCC may come under pressure owing to debt default.

The key benchmark indices are likely to start trade on a subdued note tracking cues from its Asian counter parts like Nikkei, Hang Seng and  Taiwan, which were down around 0.4-07 per cent. The focus, however, will be on individual stocks with the earnings season to kick-start tomorrow onwards in a big way, with the likes of Infosys and TCS.

According to brokerage estimates, the Nifty 50 companies combined net profit is expected to rise 24.9 per cent (YoY) in the October-December quarter to Rs 1.5 trillion - marginally down from an all-time quarterly high net profit of Rs 1.54 trillion in the second quarter of FY22. Cyclicals are expected to lead the earnings growth. READ MORE

As of 08:00 AM, the SGX Nifty January futures were quoted at 18,005, indicating a 30-40 point loss at the opening bell for the NSE benchmark index. Meanwhile, here are the stocks in focus for trade today.

Earnings Watch: Atharv Enterprises, Danube Industries, Delta Corp, Earum Pharmaceuticals, Ganesh Housing, Gayatri Tissue, Hathway Bhawani, Integra Garments, JTL Infra, Katare Spinning Mills, Madhusudan Industries, Radhe Developers and Vikas Propant are some of the companies scheduled to announce December quarter results today.

HCC: Construction major Hindustan Construction Company (HCC) has defaulted on a debt payment to the tune of Rs 2,161 crore in December 2021 even as the company’s lenders have initiated a comprehensive debt resolution plan. The company has a total debt of Rs 9,727 crore and of this, it owes Rs 4,091 crore to Indian banks, the company said in a statement to the stock exchanges. READ MORE

Anupam Rasayan: The chemicals maker on Monday said, it has signed a Letter of Intent (LoI) worth $95 million (about Rs 700 crore) with a multinational crop protection firm for supply of a new life science related active ingredient, for a period of five years. READ MORE

Vodafone Idea (VIL): According to brokerage firm IIFL, the telecom player is unlikely to opt for conversion of interest on government dues into equity. VIL has to take a call on the issue by Wednesday.

Last Friday, Bharti Airtel said it will pay the interest on deferred spectrum and adjusted gross revenue liabilities and will not issue equity to the government. READ MORE

Fortis Healthcare: A US-based entity has filed a suit against the company and various others, including IHH Healthcare Berhad, for alleged "copyright infringement and tortious interference with contracts", seeking damages in excess of $6.5 billion. READ MORE

Larsen & Toubro: The engineering & construction major said its construction arm has bagged a significant order from National High Speed Rail Corporation Ltd. The major scope of work for the project comprises design and construction of civil and building works for a double-line high speed railway of a length of 8.198 km. READ MORE

Shriram Transport Finance: The company informed BSE that its board approved issuance of $475,000,000 4.15 per cent Senior Secured Notes due 2025 (Social Bonds) under the $3,500,000,000 Global Medium Term Note Programme. The rate of interest of 4.15 per cent is fixed, semi-annual basis payable on January 18 and July 18 of every year.

5Paisa: The low-cost brokerage firm reported a sharp 73.3 per cent drop in Q3 net profit to Rs 1 crore for the quarter ended December 2021 when compared with Rs 3.73 crore in the corresponding quarter a year ago. Total income, however, surged 62.3 per cent to Rs 70.13 crore from Rs 49.36 crore in the same period.

Gravita India: The company’s board has approved a proposal to raise up to Rs 300 crore through QIP issue of shares.

Spandana Sphoorty Financial: The micro-finance lender’s board has approved a proposal to raise up to Rs 300 crore in one or more tranches by private placement of shares or QIP issue.

Stocks in F&O ban: Delta Corp, Indiabulls Housing Finance and RBL Bank are the three stocks in the F&O ban period today.