Stocks To Watch Today: Hindalco, DB Realty, TVS Motor, IRCTC, CRISIL & More

On Wednesday, November 8, multiple of the hot stocks-such as TVS Motor, L&T, Hindalco Industries, Cochin Shipyard, and IRCTC-are probably going to continue to get attention from market observers.

TVS Motor Company

TVS Motor (Singapore) Pte Ltd on Tuesday initiated an acquisition of 8,000 equity shares in Killwatt GmbH. The shareholding of TVS Motor (Singapore) Pte Ltd in Killwatt GmbH will be increased from 25% to 39.28%, by way of newly issued shares of Killwatt GmbH. Earlier the company had informed that TVS Motor Company Limited's subsidiary, TVS Motor (Singapore) Pte Ltd, had completed their acquisition of the 25% stake in Killwatt GmbH, as per a stock exchange filing.

Larsen and Toubro (L&T)

On November 7, Larsen and Toubro (L&T) announced that the governments of Madhya Pradesh and Odisha granted its subsidiary, L&T Construction, major work orders worth between Rs 1,000 crore and Rs 2,500 crore. The order for major lift irrigation projects in clusters XXII and XXV has been acquired. In order to irrigate a culturable command area of 28,944 hectares in the districts of Angul, Dhenkanal, and Nabarangpur on a turnkey basis, the overall scope of works includes the execution of 19 lift irrigation schemes, comprising intake points spread across the Manjore reservoir, Brahmani River, Rengali Left Main Canal, Rengali Right Main Canal, and Indravati Reservoir.

Cummins India

The Board of Directors of Cummins India Limited (CIL), at their meeting held on Tuesday, approved the unaudited financial results for the quarter and period ended September 30, 2023. The firm said that its total sales for the quarter were Rs 1,871 Cr, which was a 14% decrease from the previous quarter and a 3% decrease from the same quarter last year.

Its domestic sales were Rs 1,364 Cr, down 19% from Q1FY24 and down 2% from Q2FY23. Its export sales were Rs 507 Cr, up 2% from the previous quarter and down 4% from the same period the prior year. According to the corporation, its profit after tax, which was Rs 329 Cr, jumped by 4% from the previous quarter and by 30% from the same period the previous year.

Hindalco Industries

On Tuesday, Novelis Inc.-a global leader in aluminium recycling and rolling-released its second-quarter fiscal year 2024 results. Novelis Inc. is a leading supplier of sustainable aluminium solutions. For the second quarter of fiscal year 2024, net revenues came in at $4.1 billion, down 14% from the same period the previous year. In the second quarter of the fiscal year 2024, net income dropped 14% from the previous year to $157 million, mostly as a result of lower Adjusted EBITDA. In the second quarter of fiscal year 2024, adjusted EBITDA was $484 million, 4% less than in Q2FY23.

In the first half of the fiscal year 2024, net cash flow generated through operating operations climbed to $290 million from $196 million in the previous fiscal year quarter. The boost was mostly attributable to favourable adjustments in working capital, which were somewhat offset by lower Adjusted EBITDA. The first half of fiscal year 2024 had an outflow of $300 million in Adjusted Free Cash Flow. As of September 30, 2023, the company has a robust $2.3 billion total liquidity position, made up of $1.2 billion in cash and cash equivalents and $1.1 billion in availability under committed credit facilities.

Dollar Industries

One of the most reputable brands in the garment and hosiery industry, Dollar Industries Limited, released its Q2'FY24 results on Tuesday. According to the company, EBITDA grew significantly by 37.6% to Rs 4,227 Lacs, while GP margin jumped by 189 bps to 32.6%. Gross profit climbed by 28.6% YoY to Rs 13,457 Lacs. The EBITDA margin surpassed the 10% threshold, growing by 122 bps YoY. The firm reported a total income of Rs 41,305 Lacs, a 21.2% YoY growth. The company's net profit soared by 43.9% to Rs 2,487 Lacs from Q2 FY23 PAT of Rs 1,729 Lacs. PAT margin expanded by 95 basis points to 6.0%.

Cochin Shipyard

The company on Tuesday declared an interim dividend of Rs. 8.00 per equity share of Rs. 10 each fully paid-up (80%) for the financial year 2023-24. The Board of the company also approved the sub-division/ split of the existing 1 equity share of face value of Rs. 10/- each fully paid up into 2 equity shares of face value of Rs. 5/- each fully paid up, subject to shareholders approval.

Cochin Shipyard reported a 61 per cent rise in net profit to Rs 181.5 crore for the quarter that ended in September compared to Rs 112. 79 crore for the same period the previous year. The firm generated revenue from operations of Rs 1011.71 crore, up 48% from the Rs 683.18 crore recorded in the same period the previous year. The firm said that, in comparison to the same quarter previous year, when it was just Rs 61.56 crore, its other income for the quarter under review surged to Rs 87.56 crore. The company's margin shrank by 80 basis points to 19% from 19.8%, but EBITDA jumped by 41.2% to Rs 191.2 Cr in Q2FY24.

IRCTC

On November 7, Indian Railway Catering and Tourism Corporation Ltd. announced a net profit of Rs 294.67 crore for Q2FY24, up 30.36 per cent from Rs 226.03 crore in the same period of the previous fiscal year. According to a regulatory filing, the business's total revenue climbed to Rs 995.31 crore from Rs 805.80 crore in Q2FY23, a 23.51 per cent growth. For the quarter under review, earnings before interest, tax, depreciation, and amortization (EBITDA) climbed by 20.2% to Rs 366.5 crore. The EBITDA margin was 36.8%, down from 37.8% during the same time last year. For the fiscal year 2023-2024, the Board has announced an interim dividend of Rs 2.50 per equity share with a face value of Rs 2.

Power Grid Corporation of India

For the second quarter that ended on September 30, 2023, the state-owned Power Grid Corporation of India announced a 3.6% YoY rise in its net profit of Rs 3,781.4 crore on Tuesday, November 7. Power Grid Corporation of India reported a net profit of Rs 3,650.3 crore for the same period of the previous fiscal year. Compared to the same time in the previous fiscal year, when revenue from operations was Rs 11,150.6 crore, the company's revenue from operations climbed by 1% to Rs 11,267.1 crore in Q2FY24. In the second quarter of this fiscal year, EBITDA increased by 5.1% to Rs 9,908.4 crore from Rs 9,425.9 crore during Q2FY23. For the fiscal year 2023-2024, Power Grid has announced an interim dividend of Rs 4 per equity share, or Rs 10 apiece (at 40% of the paid-up equity share capital).

DB Realty

The company said on Tuesday that, compared to Rs 569 crore in Q2FY23, its net profit for the July-September quarter jumped by 55.5 per cent YoY to Rs 884.20 crore. According to a regulatory filing, revenue from operations climbed to Rs 68.01 crore in the July-September quarter of 2023-24 from Rs 10.15 crore in the corresponding period of the previous year. For about Rs 231.42 crore, the company sold its entire stake in Real Gem BuildTech Pvt Ltd (RGBPL). On November 6, 2023, a share purchase agreement with Rustomjee Group-affiliated Kingmaker Developers Pvt Ltd (KDPL) was inked to complete the acquisition.

CRISIL

On Tuesday, November 7, CRISIL Ltd revealed that its consolidated net profit for the third quarter of 2023, which ended on September 30, 2023, climbed 2.8% YoY to Rs 152 crore. According to a regulatory filing by the company, CRISIL reported a net profit of Rs 147.9 crore for the same quarter last year. Consolidated revenue from operations for the firm rose 7.7% to Rs 735.9 crore from Rs 683 crore in the same period last year. In comparison to Rs 151.5 crore during the same time in the previous fiscal year, EBITDA jumped by 26.5% to Rs 191.7 crore in the third quarter of the current fiscal year. An interim dividend of Rs. 11 per share has been declared by the board of directors.