Stocks To Watch: IREDA, Adani Ports, ONGC, IRCTC, V2 Retail & More

On Monday 12th February hot stocks like IREDA, Adani Ports, ONGC, IRCTC, V2 Retail are among the top 8 stocks likely to be in focus of the market watchers.

Adani Ports and Special Economic Zone

According to evaluations conducted by four international rating organisations, Adani Ports and Special Economic Zone Ltd. (APSEZ) has achieved the highest ranking for its environmental performance and climate initiatives. APSEZ received a leadership band "A-" by the CDP in recognition of the company's efforts to address the potential risks associated with climate change by putting existing best practices into effect. The highest grade of "A" has been awarded to APSEZ in recognition of its risk management, climate governance, and emission reduction initiatives.

APSEZ has also taken the lead among the 324 major companies in the global transport and transport infrastructure industry in the S&P Global Corporate Sustainability Assessment (CSA) 2023's environmental dimension. APSEZ is the only port operator to appear on the list of the top 15 leading firms in the sector internationally based on the overall ESG assessment, with a 96 percentile score. In their January 2024 update, the Sustainalytics Low Carbon Transition Rating also gave APSEZ the highest ranking in the ports industry.

In line with its status as a pioneer, APSEZ was also given an "Advanced" grade in Moody's latest Energy Transition Rating. In addition, Moody's assessed APSEZ in 2022 based on environmental, social, and governance factors. The company placed first in the Transport & Logistics sector and ninth overall in the Global Emerging Markets.

IREDA

The Memorandum of Understanding (MoU) that the Indian Renewable Energy Development Agency Ltd. (IREDA) and the Indian Institute of Technology, Bhubaneswar signed is a major step towards promoting innovation and research in the renewable energy industry. The Memorandum of Understanding (MoU), which was signed at the 100 Cube Start-up Conclave at IIT Bhubaneswar, intends to facilitate cooperative efforts in technology transfer, innovation and research projects, and fostering the start-up ecosystem.

The collaboration between IIT Bhubaneswar and IREDA is well-positioned to encourage joint research endeavours, ease technology transfer, and offer all-encompassing assistance to the startup ecosystem. It will also include capacity-building initiatives to improve the capabilities of IREDA officials, such as training courses, conferences, and workshops.

Trent

Being a part of the renowned TATA family, Westside opened its newest store in Mohali with the intention of inspiring style connoisseurs. Spread across 39 square feet, this store is situated at Westside, Jubliee Junction, Sector 66, Opposite ISB, Airport road, Mohali, Punjab-140803. The majority of Westside's brands will be there, easily available in one place, across the categories of clothing, accessories, cosmetics, footwear, and HOME.

Happy Forgings

Happy Forgings' net profit jumped by 39.22% to Rs 57.90 crore in the quarter that ended in December 2023 from Rs 41.59 crore in the quarter that ended in December 2022. Sales for the quarter ended December 2023 climbed 16.22% to Rs 341.99 crore from Rs 294.26 crore in the corresponding quarter ended December 2022. EBITDA grew by 30% YoY to Rs 95 Cr in the quarter under review from Rs 73 Cr in Q3FY23.

V2 Retail

According to the company's announcement, its revenue from operations was Rs 373.8 crores, up 56% YoY. In Q3 FY24, the gross margin was 31.4% compared to 35.9% in Q3 FY23. With a 60% year-on-year gain, EBIDTA for the quarter was Rs 60.9 crores as opposed to Rs 38.1 crores in Q3 FY23. The EBIDTA margin for Q3 FY24 was 16.3%, but it was 15.9% for Q3 FY23. The firm reported that its profit after tax (PAT) for the quarter was Rs 23.6 crores, up 153% year on year from Rs 9.3 crores in Q3FY23.

Aurobindo Pharma

On February 10, Aurobindo Pharma revealed that its consolidated net profit for the October-December quarter of the current financial year jumped by 90.6 per cent year on year to Rs 936.2 crore, up from Rs 491.2 crore during the same time the previous year. Revenue from operations in Q3 FY24 totalled Rs 7,351.7 crore, a 14.7 per cent increase over Rs 6,407 crore in Q3FY23. EBITDA for the firm increased to Rs 1,601. crore from Rs 954.4 crore in the same period last year. The EBITDA margin was at 21.8 per cent in Q3FY24 against 14.9 per cent in Q3FY23. The Board has approved an interim dividend @ 150% i.e. Rs 1.5 per equity share of INR 1/- for the year FY23-24.

IRCTC

On February 10, 2024, the Registrar of Companies, NCT of Delhi & Haryana, accepted the incorporation of a wholly owned subsidiary company named "IRCTC PAYMENTS LIMITED" by Indian Railway Catering and Tourism Corporation Limited (IRCTC) with the goal of operating a payment aggregator business.

ONGC

In the December quarter of the financial year 2023-24, Oil and Natural Gas Corporation (ONGC) reported a consolidated net profit of Rs 10,748 crore, down around 8% from Rs 11,665 Cr in the same period the previous year. For the third quarter of the current fiscal year, the firm recorded a 2.2 per cent reduction in revenue from operations or Rs 1,65,569 crore as opposed to Rs 1,69,213 crore that was reported during the same time last year. The Board has authorised a second interim dividend of 80%, or Rs 4.00 for every Rs 5.00 equity share.