Stocks To Watch: IEX, Adani Total Gas, Bharti Airtel, Tata Chemicals & More

On Tuesday, 6th Feb hot stocks like Adani Total Gas, Tata Chemicals, IEX, are among the top 8 stocks that are likely to be in the focus of the market watchers.

Tata Chemicals

The financial results for the quarter and nine months ending December 31, 2023, were released by Tata Chemicals Limited on Monday. Consolidated income from operations for the quarter was Rs 3,730 Cr, down from Rs 4,148 Cr in the same quarter of the previous year (Q3FY23). Consolidated EBITDA for the quarter was Rs 542 crore, down from Rs 922 crore in Q3FY23. PAT for the quarter was Rs 194 Cr on a consolidated basis, down from Rs 432 Cr in Q3FY23. As opposed to Rs 1,218 Cr in Q3FY23, the income for the quarter on a standalone basis was Rs 1,093 Cr. PAT on a standalone basis was Rs 115 Cr, down from Rs 190 Cr in the same quarter the previous year.

IEX

The leading power exchange in India, Indian Energy Exchange, reached 10,893 million units (MU) in January 2024, the highest total volumes ever recorded. This is a 26.1% increase YoY. This volume is made up of 15.20 lakh Renewable Energy Certificates (RECs), or 1,520 MU, 9,137 MU from the conventional power market sector, and 236 MU from the green market section. Government figures released on January 24th said that the nation's energy consumption was 133.8 BUs, up 6% over the same period of the previous year.

Ashok Leyland

On Monday, the company revealed a double-digit percentage EBITDA of Rs. 1114 Cr in Q3 FY24 compared to Rs. 797 Cr in Q3 FY23. It earned revenues of Rs. 9273 crores as opposed to Rs. 9030 crores in Q3 FY23, a rise of 2.7%, and achieved a net profit of Rs. 580 crores, a 60% increase over Q3 FY23. At the end of Q3 FY24, debt was at Rs. 1747 Cr, and the debt-to-equity ratio stood at 0.2 times as compared to 0.3 times at the end of the previous quarter.

Gulf Oil Lubricants India

In comparison to the quarter ended December 31, 2022, the company's revenue from operations increased to Rs. 817.26 crores from Rs. 781.10 crores, a rise of 4.63%, and its profit after tax (PAT) climbed to Rs. 80.74 crores from Rs. 62.65 crores, a growth of 28.86%. Throughout the quarter, EBITDA continued to climb sequentially, reaching a new century of Rs 111.06 crores. The EBITDA margin improved sequentially by 107 basis points or 13.59%, said the company on Monday.

Adani Total Gas

In order to strengthen the LNG ecosystem in the nation, Adani Total Gas Ltd. (ATGL) and INOX India Ltd. (INOXCVA), a prominent cryogenic liquid storage, distribution, and re-gas solutions provider based in Gujarat, have entered into a mutual support agreement. Under this agreement, ATGL and INOXCVA will mutually accord a "preferred partner" status for the delivery of LNG and LCNG equipment and services. The mutual support agreement outlines each party's role and responsibilities in utilising the other's expertise to develop the LNG infrastructure, which includes small-scale and large-scale LNG plants, LNG stations, developing best practices for fuel efficiency and HSE, high-quality conversions, and services.

Mahindra Lifespace Developers

The company on Monday announced the launch of a residential project, 'Mahindra Vista' at Kandivali, Mumbai. The said Project is registered with Maharashtra RERA (RERA Registration no. P51800054671), as per a stock exchange filing.

TVS Supply Chain Solutions

In the third quarter of the fiscal year 2023-24, TVS Supply Chain Solutions reported a consolidated net profit of Rs 10 crore, down from Rs 17.2 crore in the same time the previous fiscal year. Additionally, the company's revenue from operations decreased by 6.4% in the quarter under review to Rs 2,221.8 crore from Rs 2,373.4 crore in the third quarter of FY23. While Q3FY24 adjusted EBITDA was Rs 173.6 crore, EBITDA margins increased 70 basis points year on year on a consolidated basis.

Bharti Airtel

On Monday, Bharti Airtel announced a 54 per cent rise in consolidated net profit for the December quarter, coming in at Rs 2,442.2 crore. According to the company, Bharti Airtel reported a profit of Rs 1,588.2 crore for the same time last year. In the third quarter of the current fiscal year, the total revenue from operations increased by 5.8% to Rs 37,899.5 crore from Rs 35,804.4 crore in the quarter ending in December 2022. According to the corporation, its mobile average revenue per user per month (ARPU) was Rs 208, up about 8% from Rs 193 during the same quarter the previous year.