Stocks to watch: LIC, ONGC, Max Health, Hero Moto, Zee Entertainment, Sun TV, BEML

A likely positive start awaits the Sensex and Nifty indices on Tuesday amid robust domestic cues. India’s July retail inflation hit a five-month low of 6.71 percent. Wholesale inflation data will guide market sentiment today.

At 7:30 am, the SGX Nifty futures were trading at 17,850, about 140 points higher than the previous Nifty futures close.

However, here are some stocks that are likely to see some market action today:

Jhunjhunwala Stocks in Focus: Shares of companies owned by Rakesh Jhunjhunwala will be in the limelight on Tuesday following the death of the big investor. Titan, Star Health Insurance and Metro Brands are the stocks with the highest exposure in terms of market value.

M&Ms: On the 75th anniversary of India’s independence on Monday, Mahindra & Mahindra (M&M) unveiled its five electric SUVs. The auto giant also showcased a new INGLO electric vehicle (EV) platform at the newly established Mahindra Advanced Design Europe (MADE) in Oxfordshire, UK. Read here

The company and Volkswagen Group also announced that they have expanded their collaboration and signed a term sheet under which the German automaker will supply electric vehicle components to the Indian automaker.

Max Healthcare: US private equity major KKR and Co will sell up to 26.83 percent in Max Healthcare Institute for Rs 9,416 crore through block deals on Tuesday. The offer, managed by Jeffries India and Kotak Securities, India, will mark KKR’s exit from the company. Under the terms of the deal, the stock will sell at 350 to 362 rupees per share – a 3.29% discount to Friday’s closing price. Read more

Life Insurance Corporation of India: The state-run insurance giant reported a net profit of Rs 682.88 crore in the April-June quarter (Q1) of FY23, driven by its non-nominal business. In the corresponding period a year ago, the insurer’s profit was just Rs 2.94 crore. But these numbers are not comparable as the corporation was reviewing its policy liabilities annually until FY21. Read here

Oil and Natural Gas Corporation: The oil and gas producer reported on Friday a tripling of net profit in the June quarter as it won record prices before the government imposed a tax on windfall profits stemming from the global rally in energy prices. Oil and Natural Gas Corporation (ONGC) standalone net profit of Rs 15,205.85 crore, or Rs 12.09 per share, in April-June, compared with Rs 4,334.75 crore, or Rs 3.45 per share , for the same period last year. Read more

Hero MotoCorp: Hero MotoCorp reported a 71 percent year-on-year (y-o-y) rise in net profit in the April-June quarter on higher sales of motorcycles and scooters as well as a low base from last year. Volumes in the first quarter of FY22 were affected due to the second wave of Covid. Read here

Zee Entertainment Enterprises: Zee Entertainment on Friday reported a 48.94 percent decline in consolidated net profit to Rs 106.60 crore for the quarter ended June 30, 2022 (Q1), due to challenging macroeconomic conditions, the company said. The broadcaster reported a net profit of Rs 208.78 crore in April-June last year. Revenue during the quarter under review stood at Rs 1,879.53 crore as against Rs 1,808.56 crore reported in the year-ago period. Read more

Muthoot Finance: The gold finance company reported a net profit of Rs 802 crore in the first quarter of 2022-23, down 17 percent from Rs 971 crore in the first quarter of 2021-22 (on a loan book basis). Total revenue for the quarter under review declined 8 percent to Rs 2,509 crore from Rs 2,715 crore in the same quarter in 2021-22. Read here

BEML: BEML will soon list its land holding company on the bourses after receiving the nod from the corporate ministry, aiding the defense public sector undertaking (PSU) privatization drive.. Read here

Aditya Birla Fashion & Retail: The company is looking at FY23 with cautious optimism and the company is on a growth trajectory with a digitally and structurally transformed business, its chairman Kumar Mangalam Birla said. Read more

Indiabulls Real Estate: The company reduced its net debt by 54 percent to Rs 464 crore in the three months ended June compared to the March quarter. Also, the merger with Embassy Group is in the final phase of review by the National Company Law Tribunal (NCLT), according to an investor presentation by Indiabulls Real Estate Ltd (IBREL). Read here

Apollo tires: The tire maker reported 49% year-on-year growth in consolidated profit at Rs 190.7 crore for the quarter ended June FY23 on a low base.

Dhani Services: The company reported a consolidated loss of Rs 103.91 crore for the quarter ended June 23FY, down from a loss of Rs 192.4 crore in the corresponding period last fiscal, largely supported by a sharp decline in impairment of financial assets, but impacted by lower income from operations, which fell 19 percent year-on-year to Rs 246.4 crore in the quarter.

Sun TV Network: The company reported 35.3% yoy growth in consolidated profit at Rs 494 crore for the quarter ended June FY23, led by operating income and top line growth.

Wockhardt: The company posted a consolidated loss of Rs 75 crore for the quarter ended June FY23, against a loss of Rs 7 crore in the year-ago period. Revenue fell 31 percent to Rs 595 crore compared to the year-ago period.

Varroc Engineering: The company reported a loss of Rs 3.88 crore for the quarter ended June FY23, narrowing from a loss of Rs 16.36 crore in the year-ago period, helped by strong operating income and top line growth.

Dilip Buildcon: The road developer had posted a consolidated loss of Rs 55.1 crore for the quarter ended June 23FY, against a profit of Rs 32.86 crore in the year-ago period, but sequentially the loss widened from Rs 41.09 crore in the previous quarter due to poor operational results.

Elgi equipment: The company reported 305% year-on-year growth in consolidated profit at Rs 48.7 crore for the quarter ended June FY23, driven by a low base and strong operating results.

astral: The company posted a 25% year-on-year rise in consolidated profit at Rs 93.80 crore for the quarter ended June FY23, despite higher input costs, partly helped by a low base.

Aegis Logistics: The logistics company reported a 55% year-on-year rise in consolidated profit at Rs 103.37 crore for the June FY23 quarter. Income from operations increased 230 percent to Rs 2,235.5 crore compared to the year-ago period.

Bajaj Healthcare: The company reported a 37.5% year-on-year decline in profit at Rs 12.02 crore for the quarter ended June FY23, impacted by weak operating income and lower top line. Revenue fell 7.3% to Rs 172 crore compared to the year-ago period.

Ahluwalia Contracts (India): The company reported an 8.6% year-on-year rise in consolidated profit at Rs 37.77 crore for the quarter ended June FY23 and its revenue from operations rose 5% to Rs 609.25 crore from the year-ago period.

Hinduja Global Solutions: The company posted an 869% year-on-year rise in consolidated profit at Rs 73.26 crore for the quarter ended June FY23, led by robust other income and a low base in Q1FY22 due to exceptional loss. Revenue grew 14 percent to Rs 912 crore compared to the year-ago period.

Stocks under F&O ban: Tata Chemicals, Balrampur Chini Mills and Delta Corp.

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