Stocks To Watch: GAIL, UTI AMC, Yes Bank, NACL Ind, UNO Minda & More

The top 10 stocks that market observers will be watching on Tuesday, January 30th include popular stocks like Mahindra Logistics, UTI Asset Management Company, Aditya Birla Sun Life AMC, and Patel Engineering.

Advani Hotels & Resorts (India)

The firm said on Monday that it had achieved a significant milestone in Q3FY24, with its highest revenue in any quarter in its operating history of INR 3,304 lakhs, or an 11% YoY rise. Profit Before Tax (PBT) for Q3FY24 is INR 1,270 lakhs, representing a YoY increase of 8%. Compared to the same quarter previous year, EBITDA climbed by INR 106 lakhs, however, EBITDA margins decreased by 1%. At INR 931 lakhs, the company's profit after tax (PAT) represents a 6% growth.

Mahindra Logistics

In contrast to Rs. 1,140 crores in Q3FY23, the company reported recorded Revenue of Rs. 1,160 crores during the quarter ended December 2023 on Monday. In Q3FY24, its EBITDA increased to Rs. 71 crores from Rs. 69 crores in Q3FY23. PAT for the same quarter of FY23 was Rs.12.5 crores as opposed to Rs.16.8 crores. Mahindra Logistics Limited (MLL) finished the second tranche of its share purchase in Whizzard/Zip Zap Logistics, a last-mile delivery firm, on December 23 the quarter. Currently, MLL regulates 60% of the stake in the company.

Patel Engineering

The Maharashtra Krishna Valley Development Corporation, Pune, has sent Patel Engineering Limited and the JV Partner a letter of award for the construction of a pipe line distribution network for the Nira Deoghar Right Bank Main Canal, specifically from km 66 to km 76 and km 77 to km 87. These km were previously declared as L1. The company as a 40% partner in the JV, has a 174.57 crore stake in the project.

Waaree Renewable Technologies

Waaree Renewable Technologies has received a Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) work for a solar power project of 4MWp (DC) / 2.95 MW (AC) from one of India's leading stainless steel products company. The projects are scheduled to be completed within a period of five months.

UTI Asset Management Company

On Monday, December 31, 2023, UTI Asset Management Company Limited (UTI AMC) releases its quarterly results. FY 24 Q3 Profit after Tax (PAT) jumped by 210% YoY and 2% QoQ to Rs 186 crore. UTI Asset Management Company has a total of Rs 17,59,150 crore in assets under management. For the quarter that ended on December 31, 2023, core Profit after Tax was Rs 78 crore, representing a 21% YoY growth and an 11% QoQ drop. Operating expenses for Q3 FY 24 were recorded at Rs 189 crore, representing a 1% YoY decrease and a 2% QoQ increase. The quarter's total revenue from operations was Rs 449 crore, boosting 11% QoQ and 52% YoY. For the October-December 2023 quarter, the core income was Rs 290 crore, representing a 2% YoY growth and a 1% QoQ fall.

Uno Minda

Participating at the "Bharat Mobility Global Expo" from February 23 to February 24, 2024, at Pragati Bhavan in New Delhi, is Uno Minda Limited. The event is being arranged by the Ministry of Commerce and Industry and the Ministry of Heavy Industries. At its exhibition booth, the firm will be presenting its state-of-the-art components and solutions.

NACL Industries

The company said on Monday that its overall income for the quarter that ended on December 31, 2023, was Rs. 355.63 Cr. In comparison to Rs. 39.91 Cr and Rs. 16.00 Cr during the same time last year, EBITDA and PAT for the quarter were Rs. 3.34 Cr and a loss of Rs. 13.23 Cr, respectively. Subject to shareholder approval, Dr. M. Lakshmi Kantam has been appointed as an Additional Director of the Company under the Independent category on the Board of the Company, effective January 23, 2024.

Aditya Birla Sun Life AMC Limited (ABSLAMC)

The unaudited financial statements for the quarter and nine months ended December 31, 2023, were released on Monday by Aditya Birla Sun Life AMC Limited (ABSLAMC). Revenue increased by 16% year on year during the quarter, from Rs. 3,632 million to Rs. 4,210 million. From Rs. 1,663 million in Q3FY23 to Rs. 2,093 million in Q3FY24, profit after tax jumped by 26% annually. The QAAUM mutual fund had an 11% yearly rise to Rs. 3,115 billion. For the quarter ended December 31, 2023, ABSLAMC's total QAAUM, including Alternate assets, increased by 11% year on year to Rs. 3,247 billion.

Yes Bank

On Monday, the bank modified its SMP. For personal reasons, Mr. Arun Agrawal, the country head of institutional and government banking, submitted his resignation. With effect from January 29, 2024, at the end of work hours, the bank has released Mr. Agrawal from his responsibilities.

GAIL

On Monday, GAIL (India) Limited successfully completed a long-term LNG purchase deal with ADNOC Gas to acquire about 0.5 MMTP A LNG. This is in accordance with an agreement between GAIL and Abu Dhabi National Oil Company (ADNOC) P.J.S.C. dated October 30, 2022, wherein the parties agreed to look into potential areas of collaboration, including the purchase of LNG by GAIL from ADNOC for a duration that can be short, medium, or long term. GAIL and ADNOC's noteworthy partnership will strengthen the strong cultural and economic ties that exist between India and the United Arab Emirates (UAE).

According to this arrangement, deliveries will start in India in 2026 and last for ten years. This deal is expected to support GAIL's strategic growth objectives to serve its downstream clients in the constantly changing natural gas environment of the country, while also helping India meet its growing energy security requirements. It is expected that the long-term LNG purchase deal between GAIL and ADNOC Gas would strengthen India's energy security, boost economic collaboration, and advance both companies into new areas of strategic partnership.