Stocks to Watch today, May 25: Nykaa, LIC, Adani Group, Hindalco, Nalco

Stocks to watch on May 25, 2023: AIA Engineering, eClerx, GSFC, Voda Idea, IEX, IFCI, Page Inds, SAIL, Strides Pharma, and Zee among prominent companies scheduled to announce Q4 results on Thursday.

Stocks to Watch on Thursday, May 25, 2023: The key benchmark indices are likely to extend Wednesday’s fall in opening trades this morning amid weak global cues. At 07:30 AM, the SGX Nifty June futures quoted at 18,345, indicating an opening down tick of 30-odd points.

Overnight the US markets ended on a negative note, after Fitch Ratings placed the United States’ AAA rating on a negative watch list, stating that the ongoing debt ceiling negotiations have raised the risks that the government could miss payments on some of its obligations.

Earnings Watch: AIA Engineering, Ashapura Minechem, Aster DM Healthcare, Balmer Lawrie, Bharat Dynamics, Bharat Gears, Dhanuka Agritech, Dredging Corporation of India, eClerx, Emami, Esab India, FDC, GSFC, Heritage Foods, Hindustan Oil Exploration, Vodafone Idea, Indian Energy Exchange (IEX), IFCI, Igarashi Motors, Ingersoll Rand, ITD Cementation, JSW Holdings, Jubilant Industries, Kolte Patil Developers, Medplus Health, Page Industries, Radico Khaitan, SAIL, Saksoft, Strides Pharma, Suven Pharma, Triveni Engineering, TTK Prestige, Voltamp Transformers, Zee Entertainment and Zee Learn are few of the prominent companies scheduled to announce March quarter earnings on Thursday.

 

Life Insurance Corporation of India (LIC): The insurance behemoth reported a 466 per cent year-on-year (YoY) increase in standalone net profit for Q4FY23 to Rs 13,421 crore. Net premium income, however, declined 8.3 per cent to Rs 1.31 trillion; the first-year premium income too registered a decline of 12.3 per cent to Rs 12,811 crore. READ MORE

Hindalco: The company’s consolidated net profit grew by 37 per cent YoY to Rs 2,411 crore in Q4FY23. Revenue for the fourth quarter was flat around Rs 55,857 crore. 

FSN E-Commerce Ventures (Nykaa): The company reported a 71.8 per cent YoY decline in its net profit to Rs 2.4 crore for the quarter ended March 2023 when compared with Rs 8.50 crore in the quarter ended March 2022. Revenue from operations, however, rose by 33.7 per cent YoY to Rs 1,302 crore. The company’s fashion business witnessed a demand slowdown; its expenses surged, too, due to growing material and employee costs. READ MORE

National Aluminum Company (Nalco): The company posted a 51.7 per cent decline in Q4FY23 net profit to Rs 459 crore as against Rs 1,025.46 crore in the corresponding period last year. Total income too was down 17 per cent YoY at Rs 3,726.76 crore.

Brigade Enterprises: The company reported a net profit of Rs 63.09 crore for the quarter ended March 2023. In comparison, the company had posted a net loss of Rs 11.63 crore. Total income, however, declined from Rs 964.72 crore to Rs 872.11 crore. 

IT: Analysts at S&P Global Ratings believe that Indian IT firms could see revenue decelerate by 5 per cent through FY25. Macroeconomic concerns, along with a cautious approach towards discretionary information technology (IT) spending, will likely impact the revenue. READ MORE

Adani Group: GQG Partners, Abu Dhabi Investment Authority, International Holding Company, and the Hinduja conglomerate are among famed investors that have shown interest in participating in Adani Group companies' share sale plan that would raise up to Rs 29,000 crore, said investment banking sources. 

Meanwhile, in  a separate development the Group is exploring the possibility to invest up to $3 billion in seaport and renewable energy projects in Vietnam.

Oil India: The company posted a 9.7 per cent growth in net profit at Rs 1,788.28 crore for the fourth quarter of FY23 when compared with Rs 1,630.01 crore in the year-ago period. Total income jumped 22.2 per cent YoY to Rs 6,075.55 crore.

ICRA: Rating agency ICRA’s consolidated net profit rose by 14.5 per cent YoY to Rs 38.6 crore in Q4FY23, backed by a 16.4 per cent growth in revenue to Rs 109.1 crore. 

Trident: The company reported a 28.4 per cent decline in net profit to Rs 129.70 crore in Q4FY23 as against Rs 181 crore in Q4FY22. Total income was down 15.2 per cent YoY from Rs 1,853.07 crore to Rs 1,570.97 crore.

Ashok Buildcon: The company's Q4FY23 net profit more-than-doubled to Rs 434.76 crore when compared with Rs 187.98 crore in Q4FY22. Total income increased by 27.4 per cent YoY to Rs 2,067.88 crore.

RattanIndia Enterprises: The company has opened two new dealerships in Mumbai, thus marking a significant expansion of its footprint in the region. 

Titagarh Wagons: The company's Q4 net profit dipped 19.6 per cent YoY to Rs 53 crore for the quarter ended March 2023. Total income, however, more-than-doubled to Rs 982.53 crore from Rs 426.33 crore.

Stocks in F&O ban: Delta Corp and Indiabulls Housing Finance are the only two stocks in F&O ban period on Thursday.