Stocks To Watch Today: Adani Twins, Dabur India, Tata Motors, RIL, L&T & More

On 3rd November (Friday) Adani Enterprises, Adani Power, Reliance Industries, Larsen & Toubro, NBCC, and Tata Motors are among the trending stocks that market watchers are likely to keep under their spotlight.

Dabur India

Dabur India said on Thursday that its net profit for the second quarter of FY24 jumped by 3.29% to Rs 507.04 crore from Rs 490.86 crore reported in the year-ago quarter. In comparison to the Rs 2986.49 crore reported in Q2FY23, the company reported a 7.27% spike in sales to Rs 3203.84 crore for the quarter under review. In the meanwhile, the firm reported a spike of 10% to Rs 661 crore in earnings before interest, tax, depreciation, and amortisation (EBITDA). EBITDA margin was 20.6% in Q2FY24 as opposed to 20.1% during the same time last year.

Adani Enterprises

Consolidated net profit for the company dropped 50.57% to Rs 227.82 crore from Rs 460.94 crore during the same period the previous year. Adani Enterprises said on Thursday that its revenue for the quarter was Rs 22,517.3 crore, which was 41% less than Rs 38,175.23 crore for Q2FY23. According to Adani Enterprises, strong incubating businesses were the reason for its EBIDTA's 39 per cent growth to Rs 2,979 crore in Q2FY24.

Adani Power

For the quarter that ended on September 30, 2023, the company produced strong earnings. The company's net profit jumped by 848% to Rs 6,594.17 crore in Q2FY24 from Rs 695.33 crore in the same period the previous year, according to the figures. According to the Adani Group company, its consolidated revenue from operations climbed 84% during the quarter to Rs 12,990 crore from Rs 7,044 crore in Q2FY23. The company said on Thursday that its consolidated continuing EBITDA for Q2FY24 climbed 202% to Rs. 4,336 crore from Rs. 1,438 crore in Q2 FY23.

Tata Motors

In contrast to a net loss of Rs 944 crore in the same period last year, Tata Motors declared a consolidated net profit of Rs 3,764 crore for the second quarter of the financial year 2023-24 on Thursday. Revenue from operations saw a notable climb, rising by a considerable 32% to Rs 1,05,128 crore in Q2FY24 from Rs 79,611 crore in the same period the previous year.

Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA, for the quarter, climbed to Rs 13,767 crore from Rs 5,571 crore in the same period of the previous fiscal year, according to Tata Motors.

Reliance Industries

According to a Bloomberg piece quoting sources, Reliance Industries stated on Thursday that it is planning to issue a local-currency bond to raise Rs 15,000 crore ($1.8 billion). According to the article, the aforementioned rupee bond offering is anticipated to be Reliance Industries' biggest ever and the conglomerate's first entry into the domestic bond market since 2020.

Larsen & Toubro

The announcement was made on Thursday by Larsen & Toubro (L&T) about the sale of its entire stake in L&T Infrastructure Engineering Limited (LTIEL), an Indian company that offers independent engineering consulting services to the infrastructure industry. STUP Consultants Private Limited, a French subsidiary of Assystem SA, acquired a stake in the company. This deal complies with Larsen & Toubro's pledge to concentrate on its primary operations and assets. For the infrastructure industry in India, LTIEL, originally known as L&T-Ramboll Consulting Engineers Limited, offers engineering consultation services. The deal is anticipated to be completed by January 15th, 2024, assuming the fulfilment of all standard closing conditions.

Mr. D K Sen, Advisor to Chairman and Managing Director, L&T and Chairman, LTIEL, shared his perspective on this development: "This is a step to exit the non-core standalone consulting engineering practice and focus energy and attention on our core businesses. It not only benefits L&T but also allows LTIEL and its employees greater avenues of growth."

NBCC

The company said on Thursday that it has secured orders worth Rs 212 Cr from the Directorate General, Medical Education and Research, Haryana for 1. Planning and procurement of hospital furniture, biomedical equipment, installation and long-term maintenance for under construction University of Health Sciences Kutail at Karnal, Haryana, 2. Planning and procurement of hospital furniture, bio-medical equipment, installation and long-term maintenance for under construction Government Medical College at Koriyawas,Mahendergarh and Pt. Neki Ram Sharma Government Medical College, Bhiwani, Haryana.

Godrej Properties

Godrej Properties said on Thursday that its consolidated net profit for the quarter came to Rs 67 crore, a rise of 22 per cent over the net profit for the previous quarter, which was Rs 55 crore. While sales climbed to Rs 343 crore from Rs 165 crore in Q2FY23, the company recorded an operating loss of Rs 62 crore, down from Rs 67 crore. With sales of Rs 5,034 crore, the firm had its highest-ever quarterly sales, up 109% from the year-ago quarter. It sold 5.24 million square feet of space to accomplish these sales. Net operating cash flow climbed 12% YoY to Rs 811 crore, while revenues for the quarter grew by 23% to Rs 2,378 crore from Q2FY23.

Cholamandalam Investment and Finance Company

On November 2, Cholamandalam Investment and Finance Co Ltd said that its net profit for the September quarter of the current financial year was Rs 762.49 crore, up 35% YoY from Rs 563.41 crore in the same period the previous year. Standalone total income was Rs 4,571.89 crore, compared to Rs 3,037.78 crore for the same period in the previous year. The company's total disbursements for the July-September quarter were Rs 21,542 crore, a 47 per cent YoY growth. It was Rs 14,623 crore in the same time period the previous year. The company's assets under management climbed by 46% YoY to Rs 1.34 lakh crore in Q2FY24, from Rs 91,841 crore in Q2FY23.

Karnataka Bank

Karnataka Bank announced an outstanding net profit on Thursday for the half-year ended in September 2023, totalling Rs. 700.96 crore. This net profit jumped by 33.31% over the previous half-year ended in September 2022, when it was Rs. 525.81 crore. In addition, the net profit for the quarter that ended in September 2023 was Rs 330.26 crore as opposed to Rs 411.63 crore in September 2022. Net Interest Income also grew by 2.45% for the quarter ended in September 2023, from Rs 802.73 crore in Q2FY23 to Rs 822.41 crore.

The GNP decreased to 3.47% in Q2FY24 from 3.68% as of June 30, 23; similarly, the NNPAs dropped to 1.36% from 1.43% as of Q1FY24. Approximately a year ago, on September 30, 2022, the GNPA was 3.36% and the NNPA was 1.72%. As of September 30, 2023, the Bank's business turnover reached a new high of Rs. 1,56,467.71 crore (on a gross basis). The Bank's gross advances climbed to Rs. 66,935.98 crore from Rs. 60,991.24 crore, while its deposits surged to Rs. 89,531.73 crore from Rs. 81,633.66 crore in the year-ago quarter. The Bank has a CD ratio of 73.65% during the quarter under review.