Stocks To Watch: ZEEL, Cipla, Oberoi Realty, HPCL, Tata Motors, MRPL & More

On Tuesday, 23rd January hot stocks like Axis Bank, Coforge, Hero MotoCorp, IIFL Securities and Oberoi Realty are among the top 10 stocks likely to be in focus of the market watchers.

Coforge

The IT company Coforge announced its October-December quarter results on Monday. It saw a 31% increase in net profit from the previous quarter, which ended in September 2023, to Rs 238 crore from Rs 181 crore. From Rs 2,276.2 crore in Q2FY24 to Rs 2,323.3 crore in Q3FY24, the company's revenue from operations increased by 2%. The Board has recommended an interim dividend of Rs 19 per share, and the record date for this payout will be 5th February 2024, as per a stock exchange filing.

Hero MotoCorp

Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, has appointed the diversified CG Motors as its distributor in Nepal. Hero MotoCorp and CG Motors seek to establish a cutting-edge greenfield factory in Nepal for assembling products. Considering that the operations will attract new investments and generate employment possibilities, this demonstrates the company's commitment to the nation. The plant would be located in the district of Nawalpur and have an annual capacity of 75,000 units. The first day of operations will be March 2024.

Mangalore Refinery and Petrochemicals (MRPL)

In an exchange filing on Monday, Mangalore Refinery and Petrochemicals Ltd (MRPL) reported a consolidated net profit of Rs 392.08 crore for the third quarter (Q3) of fiscal year 2024 (FY24) that ended on December 31, 2023. This is in contrast to a loss of Rs 194.95 crore during the same period the previous year. In the third quarter of FY24, its consolidated revenue from operations was Rs 28,383.41 crore, compared to Rs 30,966.16 crore during the same time in the previous fiscal year. In the December quarter of the current fiscal year, the firm recorded a consolidated total income of Rs 28,422.99 crore, down from Rs 31,008.46 crore in Q3FY23. The Board has also declared an interim dividend of Rs 1 per share for FY24. The company has fixed February 02, 2024, as the record date.

IIFL Securities

The company on Monday declared the financial results for the quarter and nine months ended December 31, 2023. Its net income stood at Rs 582.3 Cr during the quarter under review up by 68% YoY from Rs 347.0 Cr recorded in the year-ago quarter. The company posted a net comprehensive income of Rs 150.4 Cr which was Rs 64.2 Cr in the year-ago quarter representing a growth of 134% YoY. IIFL Sec reported a profit before tax of Rs 203.2 Cr in Q3FY24 up by 139% YoY from Rs 85.1 Cr in Q3FY23. The brokerage business's average daily market turnover (including F&O) for the quarter was Rs 2,71,309 Cr (BSE + NSE), up 9% on a quarterly basis and 73% on an annual basis. For the quarter ending December 31, 2023, total brokerage revenue was Rs 267.5 Cr, up 73% year on year.

Hindustan Petroleum Corp Ltd (HPCL)

The company's board had previously approved the creation of a wholly owned subsidiary HPCL Renewable & Green Energy Ltd in order to expand into new green and renewable energy business sectors and to combine the company's current green business operations under one roof. The WOS is incorporated in accordance with the approval and subsequent observance of the relevant rules, and on January 19, 2024, the Ministry of Corporate Affairs issued the Certificate of Incorporation.

Cipla

On Monday, January 22, Cipla reported quarterly revenue for the third quarter of the current fiscal year of Rs 6,604 crore (consolidated). Cipla reported revenue for Q3FY23 of Rs 5,811 crore. Cipla's net profit for the quarter under review increased by 31.8% to Rs 1,056 crore from Rs 801 crore during the same period the previous year. Cipla's third-quarter EBITDA (earnings before interest, taxes, depreciation, and amortization) was Rs 1,747.7 crore, up 24% from the Rs 1,408.4 crore it reported in the October-December period of the previous year. Cipla's margin climbed to a record-breaking 26.5% during Q3FY24. It had reported a margin of 24.2% in Q3FY23.

Oberoi Realty

One of the largest real estate companies in India, Oberoi Realty Ltd., is well-known for its opulent residential projects. On January 19, 2023, the company unveiled a new tower in the Elysian at Oberoi Garden City, Goregaon. The project has a gross booking value of around Rs. 882 crores for approximately 2.20 lakh square feet (carpet area). The flagship property of Oberoi Realty, Oberoi Garden City, turned Goregaon into one of the most sought-after real estate destinations. This integrated development, which occupies around 80 acres, provides a ready-made social and leisure infrastructure along with outstanding access to the business districts, suburban station, and metro.

Tata Motors

Tata Motors said on Sunday that, starting next month, the prices of all of its passenger car lineup, including electric vehicles (EVs), will increase by an average of 0.7%. According to a statement from Tata Motors, this hike will take effect on February 1, 2024, and is being made to partially offset the increase in input costs.

Zee Entertainment Enterprises Ltd (ZEEL)

The much-awaited $10 billion merger between Culver Max Entertainment (CME), formerly known as Sony Pictures Networks India, and Zee Entertainment, the two largest media companies in India, has officially come to an end. Following its announcement on January 22, the move has led to a number of legal proceedings and disagreements between the two businesses. The termination of CME occurred due to the failure to extend the merger collaboration agreement by the deadline of January 21, according to a statement released by Sony Pictures Entertainment. After more than two years of discussions, the statement voiced grief that the closing standards were not reached.

Axis Bank

The private sector lender is scheduled to release its financial results today for the quarter ended 31st December 2023.