Stocks to Watch: Adani group stocks, LIC, Reliance, L&T, Equitas SFB, Trent

Stocks to Watch: MSCI has started a free float review of Adani Group securities and it believes certain Investors should no longer be designated as free float

Equity benchmarks may start Thursday's trade on a quiet note as indicated by the SGX Nifty futures, quoting 20 points lower at 17,880. Today, the weekly F&O expiry will also impact sentiment.

Wall Street ended lower on Wednesday following commentary from Fed officials, which reaffirmed need to rise rates. 

The S&P 500 declined 1 per cent and the Nasdaq shed around 1.7 per cent.  

Asian indices were mixed in early trade as Nikkei rose around 1 per cent while Kospi and Strait times fell up to 0.7 per cent.

Here are some stocks to watch out in trade today: 

Q3 earnings watch: Hindalco Industries, Hindustan Petroleum Corporation, Life Insurance Corporation of India, Lupin, Zomato, Adani Total Gas, Aurobindo Pharma, Bajaj Consumer Care, Bombay Dyeing & Manufacturing Company, Devyani International, Force Motors, General Insurance Corporation of India, Greaves Cotton, Hindustan Aeronautics, Indian Railway Catering and Tourism Corporation, Jet Airways, Kalpataru Power Transmission, MRF, Natco Pharma, Page Industries, Pfizer, Sapphire Foods India, Suzlon Energy, United Breweries, Ujjivan Financial Services, and Voltas will release their quarterly earnings today.

Adani Power: The company on Wednesday reported a 96 per cent decline in consolidated net profit at Rs 8.77 crore for December quarter 2022-23 mainly on the back of higher expenses. In the year-ago period, the profit was Rs 218.49 crore, the company said in a BSE filing. Total income rose to Rs 8,290.21 crore from Rs 5,593.58 crore in the same period a year ago. READ

RIL: Billionaire Reliance Industries Ltd and UK supermajor BP are nearing start of production from their giant MJ deep-water project in the KG-D6 block, which will significantly boost gas output from the prized east coast asset. The MJ field will come on stream this quarter, said Sashi Mukundan, Regional President and Head of Country, India, BP Group, at India Energy Week. READ

Adani Group stocks: MSCI has started a free float review of Adani Group securities and it believes certain Investors should no longer be designated as free float. The changes in the free float will be announced in its Feb 2023 review today. Barring Adani Wilmar and NDTV, the remaining group stocks namely Adani Enterprises, Adani Ports, Adani Total Gas, Adani Green, Adani Transmission, Adani Power, ACC & Ambuja Cements are part of the MSCI Global Standard Index

Larsen & Toubro: The company received an order worth Rs 2,585 crore from the Ministry of Defence for supply for 41 sets of modular bridges for the Corps of Engineers of the Indian Army. A modular bridge is fabricated in modules that can be installed quickly in the field.

Navin Fluorine: The company’s arm Navin Fluorine Advanced Sciences’ Dahej Plant has commenced commercial production.

RBL Bank: The bank received RBI's approval for reappointment of Rajeev Ahuja as executive director of the bank for a period of three years with effect from Feb. 21, 2023.

Indian Bank: The bank has increased its repo benchmark rate to 6.5 per cent. 

Gujarat Pipavav Port: The company has reported a 89 percent year-on-year increase in consolidated profit at Rs 84.4 crore for Q3FY23 despite higher input costs. Revenue from operations for the quarter grew 49 percent YoY to Rs 250.6 crore, while margins expanded 512 bps compared to a year-ago period.

Kabra Extrusiontechnik: The company has approved setting up of new manufacturing plant in North India for its future technologies brand Battrixx

Trent: The company has reported a nearly 20 percent year-on-year growth in consolidated profit at Rs 167 crore for three-month period ended December FY23. It registered the highest ever quarterly revenues at Rs 2,303.4 crore, up 54 percent YoY. 

Kirloskar Industries: The board will meet on February 11,  2023 to consider raising further capital by a rights issue, preferential allotment or through any other permissible mode under applicable laws. 

Oberoi Realty: The Mumbai-based real estate company has registered a 50.3 per cent year-on-year growth in consolidated profit at Rs 702.6 crore for quarter ended December FY23 on healthy topline and operating performance. Consolidated revenue surged 96 percent YoY to Rs 1,630 crore for the quarter. 

Piramal Enterprises: The financial services arm of the Piramal Group on Wednesday reported a 300 per cent year-on-year (YoY) jump in net profit at Rs 3,547 crore for the third quarter that ended December 31, 2022. Its revenue from operations rose 41.4 per cent to Rs 3,231.6 crore during the period.  

Equitas Small Finance Bank: The lender on Wednesday said it recorded its highest-ever quarterly disbursement of Rs 4,797 crore, a growth of 68 percent year-on-year (YoY) in Q3. It reported a 57.4 percent year-on-year (YoY) jump in net profit at Rs 170.1 crore for the third quarter, the highest quarterly PAT.  

Techno Electric & Engineering Company: The company has sold off 37.50 MW of its wind power assets out of the 111.90 MW situated in Tamilnadu at an approximate consideration of Rs 158.93 crore and entered into MOUS for the sale of another 71.40 MW. It had installed 111.90 MW wind power assets in the year 2011.

Asian Energy Services: Its board has approved the acquisition of 50 per cent participating interest in the Oil & Gas field situated at Indrora, Gujarat from Oilmax Energy (Promoter/Holding Company).