Stocks To Watch: Coforge, JSW Energy, Adani Total Gas, Coal India & More

On Tuesday, 13th February hot stocks like Adani Total Gas, JSW Energy, Coal India and Zee Media Corporation are among the stocks that are likely to be in focus of the market watchers.

JM Financial

JM Financial revealed its highest-ever operating profit and sales for the December 2023 quarter. For Q3FY24, revenue and PAT were Rs. 1,261 crores and Rs. 278 crores, respectively, representing YoY growth of 33% and 46%. As of December 31, 2023, the company's average daily turnover was Rs. 42,644 crore, up 50% YoY from Rs. 28,518 crore in Q3FY23.

JSW Energy

Solar Energy Corporation of India Limited (SECI) has granted 500 MW of wind capacity to JSW Neo Energy Limited, a fully owned subsidiary of the company, in response to a tariff-based competitive bid that SECI called for the establishment of 1,350 MW ISTS-linked Wind Power Projects (Tranche - XVI). According to the bid structure, 700 MW of greenshoe option is available over the capacity that was awarded.

This may increase the company's allotted capacity by an additional 525 MW, up to a maximum of 1,025 MW. By CY24, the company aims to have 9.8 GW of installed generating capacity, up from its present level of 7.2 GW. The overall locked-in capacity of the company rises to 10.3 GW after the capacity award under SECI Tranche XVI. By 2030, the company aims to have 40 GWh of energy storage capacity in addition to 20 GW of generating capacity. JSW Energy has set a lofty goal to become carbon neutral by 2050 and reduce its carbon footprint by 50% by 2030.

Coal India

During the third quarter of FY 2024, which ended in December 2023, Coal India Limited (CIL) recorded an all-time high of Rs. 9,094 crores in consolidated profit after tax (PAT), indicating a strong 18% year-on-year rise. The company claimed in a stock exchange filing on Monday that this was its highest PAT earnings in any year's third quarter since the company's debut. PAT grew by Rs. 1,375 crores in absolute volume from the Rs. 7,719 crores during the October-December 2022 period.

In Q3 of FY 2024, consolidated revenue from operations reached Rs. 36,154 crore, up 3% from Rs. 35,169 crore in the same time the previous fiscal year. Earnings before interest, tax, depreciation, and amortisation, or EBITDA, is a metric of profitability to net income. In the nine months that ended in December of FY 2024, it climbed by Rs. 453 crores to Rs. 32,451 crores. In contrast, the same amount was Rs. 31,998 Crores in FY 2023 from April to December period.

Lemon Tree Hotels

Lemon Tree Resort in Marpalle, Telangana, is the newest addition to Lemon Tree Hotels' portfolio. Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited will oversee the hotel upon its anticipated opening in FY27. With this opening, Lemon Tree Hotels will be adding to its portfolio of hotels in Telangana, which currently consists of four properties and one upcoming property.

Adani Total Gas

For the purpose of "Design, build, finance, own and operate Bio-CNG (CBG) Plant for Treatment of 250 Tonnes Per Day (TPD) biodegradable Waste including organic fraction of solid waste and other wastes at Nakrawadi waste dumping site on PPP Model" in Rajkot, the company has been awarded a work order by the Rajkot Municipal Corporation (RMC). The project would likely cost between INR 75 and 85 crores approximately.

Coforge

The appointment of Mr. Durgesh Kumar Singh (DIN: 10485073) as an Additional Director and Non-Executive Independent Director on the Board of the company has been approved by the Board of Directors through a resolution dated February 12, 2024. Singh will hold office for a term of 2 (two) years, from February 12, 2024 to February 11, 2026, subject to shareholder approval.

Zee Media Corporation

For the quarter that ended on December 31, 2023, Zee Media Corporation Limited (ZMCL) (BSE: 532794, NSE: ZEEMEDIA) announced today that its consolidated sales came to Rs 1,673.1 million. The network incurred an expenditure of Rs 1,927.5 mn in the same period and an operating loss of Rs 254.4 mn. The company's Operating Profit (EBITDA) reached Rs (254.4) mn in Q3FY24 which was Rs (202.2) mn in Q2FY24.

GlaxoSmithKline Pharmaceuticals

GSK, or GlaxoSmithKline Pharmaceuticals Ltd., reported revenue from operations of Rs. 805 crores, profit before exceptional items and taxes of Rs. 228 crores, and EBITDA margins of 27% for the quarter ended 31st December 2023.

Commenting on the results, Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals Limited, said, "We remain committed to new category development in areas like Adult Immunization with products like Shingrix to make a positive impact to the lives of the patients in India. We will continue to drive operational efficiency and explore new innovative solutions including Omnichannel Strategy to expand reach and coverage to the target segments."