Stocks To Watch Today: Adani Ports, SJVN, ZEE Ent, Ashok Leyland, ICICI Bank & More

Some of the trending stocks, including Zee Entertainment, ICICI Bank, Adani Ports, SJVN, and Aditya Birla Fashion and Retail, are probably going to be the attention of market observers on Friday, November 10.

Muthoot Capital Services

On Thursday, the company announced Commercial Paper (CP) amounting to Rs. 15 Crores. The issue holds a discount rate of 9.43% FIMMDA Convention with a tenure of 141 days. The issue will mature on 29-03-2024 and it holds a price of Rs 96.4852 with a credit rating of CRISIL A1+.

Aditya Birla Fashion and Retail

The company reports 5% YoY to Rs. 3226 Cr in sales for the quarter on Thursday. For the quarter, the consolidated EBITDA was Rs. 369 Cr, with an EBITDA margin of 11.4%. During Q2FY24, the firm reported a net loss of Rs 200 Cr on a consolidated basis and Rs 75 Cr on a standalone basis.

"Our businesses demonstrated notable resilience amid the overall slowdown and added challenges of a shift in festive season and fewer wedding dates. Net profit for the quarter was affected by negative operating leverage resulting from subdued sales in a weak demand environment. Continued growth investments in new businesses also had an impact on profitability for the quarter," said the management of the company.

Adani Ports

Adani Ports and Special Economic Zone said on November 9 that its September quarter consolidated net profit was Rs 1747.85 crore, up 4.19 per cent from the same period last year. The Adani Group firm announced in an exchange announcement that its revenue from operations for Q2FY24, was Rs 6,646.41 crore, up 27.55 per cent over the same quarter in the previous fiscal year. During the September quarter, Adani Port's earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped by 35% to Rs 4,053.9 crore from Rs 3,005.5 crore during the same period the previous year. EBITDA margins for the quarter under review were 61%, down from 57.7% in Q2FY23.

SJVN

The consolidated net profit of state-owned SJVN Ltd decreased marginally to Rs 439.64 crore during Q2FY24. According to a regulatory statement, its consolidated net profit for the quarter that ended on September 30, 2022, was Rs 445.44 crore. From Rs 387.75 crore in the same time last year to Rs 398.22 crore during the quarter under review, overall expenses climbed. Additionally, total income rose from Rs 916.25 crore in Q2FY23 to Rs 951.62 crore in Q2FY24.

Zee Entertainment

In the September quarter, Zee Entertainment Enterprise Ltd (ZEEL) reported a 5% decrease in its consolidated profit after tax (PAT) to Rs 130 crore from Rs 137 crore during the same time last year. Operating revenue for the firm was Rs 2437.8 crore, up from Rs 2023.9 crore in Q2FY23. From Rs 1,013 crore in Q2FY23 to Rs 979 crore in the July-September quarter of FY24, the company's revenue from advertisements dropped by 3.3%.

Ashok Leyland

The Hinduja Group's flagship company reported a net profit for the quarter of Rs 561 crore, up from Rs 199.3 crore during the same time last year. At Rs 9,638 crore, the standalone net revenues are 16.6% higher YoY. The EBITDA margin increased to 11.2%, with earnings before interest, tax, depreciation, and amortization (EBITDA) standing at Rs 1,079.8 Cr.

ICICI Bank

The Reserve Bank of India (RBI) gave ICICI Bank permission on November 9 to establish ICICI Securities as a wholly-owned subsidiary. On June 26, ICICI Bank declared that it would be reviewing a request to delist the bank's subsidiary, ICICI Securities.

V2 Retail

At Rs 231 crores, revenue from operations represented a 19% year-on-year growth. In Q2 FY24, gross margin was 28.1%, down from Q2 FY23's 28.2%. EBIDTA for the quarter stood at Rs 19.9 crores as compared to Rs 10.1 crores in Q2 FY23, registering a growth of 98% on Y-O-Y basis. EBIDTA margin stood at 8.6% for Q2 FY24 as compared to 5.2% for Q2 FY23. The company reported a net loss of Rs 5.7 Cr during Q2FY24 compared to a net loss of Rs 11.6 Cr in Q2FY23.

Dhanlaxmi Bank

From Rs. 15.89 crore in Q2 FY 2022-2023 to Rs. 23.16 crore in Q2 FY 2023-2024, the bank's standalone net profit jumped by 45.75%. The bank's Q2 FY 2023-24 standalone operating profit was Rs. 23.60 crore. In September 2023, the total business was Rs. 24127.77 crore, up 10.39% from Rs. 21,856.94 crore in the same quarter in 2022. As of September 30, 2023, gross advances climbed by 13.19% to Rs. 10310.55 crore from Rs. 9109.31 crore in the year-ago quarter. The bank's total deposits climbed by 8.39% to Rs. 13,817.22 crore on September 30, 2023 from Rs. 12,747.63 crore in Q2FY23. As of September 30, 2023, CASA's percentage of the bank's total deposits was 31.06%. The amount of retail deposits climbed by 8.36% to Rs. 6914.51 crore.