Stocks To Watch Today: Adani Green, L&T, ZEEL, Bharti Airtel, DLF & More

On 31st October 2023, trending stocks that are likely to be the focus of market watchers are Adani Green Energy, Bharti Airtel, L&T, ZEEL, DLF & more. The top 10 stocks going to be the talk of the town today are as follows.

Procter & Gamble Hygiene and Health Care

On Monday, Procter & Gamble Hygiene and Health Care Ltd. released its financial results for the quarter ended September 30, 2023. With sales of Rs 1138 crore for the quarter, the firm exceeded expectations, growing at a pace of 9% over Q2FY23 thanks to excellent retail execution and an integrated development plan. Profit After Tax (PAT) for the quarter was Rs 211 crore, up 36% from the same period last year. Product price mix, productivity, and acceleration of volume growth were the main drivers of PAT.

Adani Green Energy

Adani Green Energy's consolidated net profit jumped by 148.99% during the quarter under review to Rs 371 crore from Rs 149 crore in the quarter ended on September 30, 2022. From Rs 1,105 crore in Q2FY23 to Rs 1,984 crore in the September 2023 quarter, the company's revenue from operations jumped by 80%. As of September 30, 2023, the Group's operating capacity was 8,316 MW, compared to 6.724 MW in Q2FY23.

L&T

The company declared on Monday that it had won a fresh order worth between Rs 2,500 and Rs 5,000 crore. During the current quarter, L&T Construction's Power Transmission & Distribution division was able to acquire significant orders both domestically and internationally. To discuss and approve the unaudited consolidated and standalone financial records of the company for the quarter ended September 30, 2023, the L&T board is set to convene on Tuesday.

Zee Entertainment

Punit Goenka, the erstwhile promoter of Zee, felt tremendous relief when he heard that the Securities Appellate Tribunal (SAT) on Monday had cleared the way for him to return to his position as managing director and CEO of Zee, leading one of the largest integrated companies in the media and entertainment industry as a result of the Zee-Sony merger. Due to an alleged fund-diversion case, SEBI banned Punit Goenka of Zed Entertainment Enterprises from holding key directorships in listed firms in an order dated August 14.

Muthoot Capital Services

On Monday, the company said that its net profit stood at Rs 83.21 crores in Q2FY24 compared to Rs 17.75 Crores in Q1FY23. During the quarter, the firm disbursed loans of Rs 328 crores. At the end of the quarter, the total AUM (Assets under Management) was Rs 1771 crores. The company completed an ARC of Rs. 235 crores on the substandard assets during the quarter. Its Return on Equity was 60.6% and its Return on Asset was 17.2% in Q2FY24. In Q2FY24, its GNPA decreased by 50.9% QoQ, and its CRAR was 35.4%.

Gokaldas Exports

The firm said on Monday that its consolidated revenue for the quarter was Rs 509.0 crore, down from Rs 576.3 crore in the same period of the previous year. Additionally, its consolidated profit before tax was Rs 29.3 crore, down from Rs 49.0 crore in the corresponding quarter of the previous year.

Mr. Siva Ganapathi, Vice Chairman and Managing Director of Gokaldas Exports said, "Our performance reflects lean demand from major brands, given that they were carrying excess inventory. We ramped up our labour force in Q2 in preparation for the third quarter, resulting in increased cost. We are expecting improved momentum in the second half of the year as we are seeing growing traction in customer orders. We will stay focused on improving operating parameters and are confident of the medium to long-term prospects of the company."

Colgate-Palmolive (India)

The company on Monday received a transfer pricing order of income tax liability of Rs 170 Crores from the Income Tax Authority for the Assessment Year 2021-22. Adjustments on transfer pricing concerns have been made by the Income Tax Authority's transfer pricing order. The company is waiting on the outcome of the Draft Assessment procedures before submitting an application to the Dispute Resolution Panel.

DLF

On Monday, the company recorded a consolidated revenue of Rs 1,476 crore. Its Gross margins were at 57% during Q2FY24. DLF reported an EBITDA of Rs 591 Cr during the quarter under review while its net profit reached Rs 629 crore, reflecting Y-o-Y growth of 29%.

Castrol India

The company reported a 6% year-on-year growth in revenue from operations for the quarter (3Q) ended in July-September 2023, from Rs 1,121 Crores in 3Q 2022 (the same quarter in the previous year) to Rs 1,183 Crores. Its net profit stood at Rs 194 Cr in Q2FY24 compared to Rs 187 Cr in Q2FY23.

Bharti Airtel

The telecom giant is set to release its financial results for the quarter ended 30th September 2023.