Dredging Corporation, Genus Power to Spandana Sphoorty - here are the top Buzzing Stocks today

Domestic stock markets were trading at a gain of around one per cent in the noon deals of Wednesday, February 2, 2022. At 1:07 pm, the S&P BSE Sensex was trading at a gain of 601.13 points or 1.02% at 59,463.70. The Nifty 50 index was 173.10 points or 0.98% up at 17,749.95. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of some of such stocks:

See Zee Business Live TV Streaming Below:

Stocks to be benefitted from Budget Announcement

Dredging Corporation: Up 15.28%. Finance Minister Nirmala Sitharaman during her Budget 2022 speech announced that the draft DPRs (Detailed project reports) for five river links have been finalised. These are Daman Ganga-Pinjal; Par Tapi-Narmad; Godavari-Krishna; Krishna-Pennar and Pennar-Kaveri. Once the consensus is reached among the beneficiary states, the Centre will provide support for their implementation. Dredging Corporation is a leader in dredging technology and has a good order fulfilment record. It has- Opportunities for dredging of more than Rs 40,000 crore in river integration and has a 10% chance in dredging, canal maintenance every year. It is expected that the company has posted an income of Rs 4000 crore on an annual basis. The current average income of the company stands at Rs 800 crore.

Genus Power: Up 11.17%. Union Finance Minister Nirmala Sitharaman has raised tariffs on imported headphones, loudspeakers, smart meters used by power distribution companies and solar panels as part of the budget proposals. Basic customs duty on smart meters increased from 15% to 25%. The company has a 70% market share in smart meters. It is the first company in Asia to supply 1.5 Mn smart meters. The additional director has a stronghold in the smart metering business. Scheider Electric and ITI are also in the business of smart meters.

MapmyIndia: Up 7.40%. With the announcement of Drone Shakti in the Union Budget, the industry got a massive push after the liberalising of the Drone Rule in 2021. The government said start-ups will be promoted to facilitate Drone Shakti, with 'drone as a service. MapmyIndia will be benefited from the announcement as it uses advanced geo-analytics and is the largest location provider for drones. It is working on a drone-based technology solution. 10-15% of its order book comes from the government. The company's management has said that drones are expected to grow business a lot

VA Tech Wabag: Up 2.47%. An allocation of Rs 60,000 crore has been made to cover 3.8 crore households in 2022-23 under Har Ghar, Nal Se Jal Scheme in the budget. Va Tech Wabag is the only Indian MNC company that has its business only in water technology. It has the best technology to remove impurities from drinking water. Management has a big focus on projects related to Nal Se Jal Scheme. Speciality:Order book of 3.6x against income of Rs 2,800 crore in FY21 Won the largest order of Rs 1,230 crore in Waste-Water Treatment (Oil & Gas Sector) from Russia Order book of Rs 10,400 crore by the end of June 2021.

Buzzing Stocks

Spandana Sphoorty: Up 17.90%.
Safari Industries: Up 10.47%.
Jubilant Ingrevia: Up 3.28%.
Midhani: Up 2.24%.
Aavas Financiers: Up 1.27%.
Cummins India: Up 1.17%.
KPIT Technologies: Up 1.36%.
ITC: Up 2%.
Consumer Durable Stocks: On a move. Stocks like Dixon Technologies - 3.94%; Amber Enterprises - up 2.69%; Voltas - up 23.01%; Titan - up 1.61%; Havells - up 1.53% and Blue Star - up 1.30% were trading with gains.
Realty Stocks: On a move. Stocks like Brigade Enterprises - up 4.81%; Macrotech Developers - up 3.91%; Godrej Properties - up 1.77%; Prestige Estate - up 1.62% and Indiabulls Real Estate - up 1.23% were trading with gains.
PSU Banks: On a move. Stocks like Indian Bank - up 6.08%; Union Bank - up 4.94%; Canara Bank - up 3.40%; J&K Bank - up 2.84%; UCO Bank - up 2.58%; Bank of India - up 1.91% and IOB - up 1.68% were trading with gains.
Private Banks: On a move. Stocks like IndusInd Bank - up 4.74%; Kotak Mahindra Bank - up 3.23%; Axis bank - up 2.73%; IDFC First Bank - up 2.63%; RBL Bank - up 2.53% and HDFC Bank - up 2.17% were trading with gains.
IT Stocks: On a move. Stocks like HCL Technology - up 3.06%; LTTS - up 2.24%; Wipro - up 1.84%; TCS - up 1.63% and Mindtree- up 1.30% were trading with gains.
Financial Services Stocks: On a move. Stocks like Bajaj Finserv - up 4.83%; Bajaj Finance - up 3.40%; HDFC AMC - up 3.21%; M&M Finance - up 2.99%; HDFC Life - up 2.15% and Muthoot Finance - up 2.08% were trading with gains.
Footwear Stocks: On a move. Stocks like Relaxo Footwears - up 4.09%; Mirza International - up 3.19% and Khadim India - up 1.75% were trading with gains.
Jute Stocks: On a move. Stocks like Gloster - up 4.57%; Cheviot - up 3.44% and Ludlow Jute - up 1.86% were trading with gains.
Telecom and Related Stocks: On a move. Stocks like Vodafone Idea - up 7.01%; Tejas Network - up 4.99%; MTNL - up 2.71%; D Link Industries - up 4.53%; Universal Cables - up 2.24% and ITI Limited - up 2.28% were trading with gains.
Chemical Stocks: On a move. Stocks like Laxmi Organics - up 4.99%; Balaji Amines - up 6.41%; Clean Science - up 2.83%; GHCL - up 8.21% and Deepak Nitrite - up 4.18% were trading with gains.
Paper Stocks: On a move. Stocks like JK Paper - up 5.15%; Pudumjee Paper - up 3.49%; Orient Paper - up 2.83%; Star Paper - up 4.32% and Malu Paper - up 4.13% were trading with gains.
Packaging Stocks: On a move. Stocks like Hindustan National Glass - up 4.90%; Cosmo Films - up 3.17%; Jindal Poly Films - up 7.43%; Tinplate - up 1.54% and Ester Industries - up 2.56% were trading with gains.

Recent IPOs

Sigachi Industries: Up 9.85%.
Nykaa: Up 5.89%.
Tega Industries: Up 4.65%.
MapmyIndia: Up 7.40%.
Supriya Lifescience: Up 5.01%.
HP Adhesives: Up 6.26%.
PB Fintech: Up 4.52%.
Latent View Analytics: Up 3%.

Q3FY22 Earnings Reactions

VIP Industries: Up 4.90%. The luggage manufacturer has reported a consolidated net profit of Rs 33.5 crore for the quarter ended December 31, 2021. It had posted a consolidated net loss of Rs 7 crore in the same period last fiscal. Revenue from operations grew 70.9% YoY to Rs 397.3 crore against Rs 232.5 crore reported last year. EBITDA rose 7x to Rs 57.1 crore in the period under consideration against Rs 8.1 crore posted last year. Margins improved to 14.4% in Q3FY22 against 3.5% posted in Q3FY21. 

Laxmi Organics: Up 4.99%. The chemical manufacturing company has reported an 82.2% YoY rise in the consolidated profit at Rs 82 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 45 crore in the corresponding quarter last year. Revenue from operations grew 97.2% YoY to Rs 860 crore against Rs 436 crore posted last year. EBITDA grew 73.5% YoY to Rs 118 crore compared to Rs 68 crore posted last year. Margin contracted to 13.7% in Q3FY22 against 15.6% posted in Q3FY21.

Sona BLW Precision: Up 2.20%. The company has reported a 3.5% YoY rise in the consolidated profit at Rs 86.4 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 83.5 crore in the corresponding quarter last year. Revenue from operations grew 1% to Rs 494 crore against Rs 489 crore posted last year. EBITDA stood at Rs 130 crore, down 11% from Rs 146 crore posted last year. Margin contracted to 26.3% in Q3FY22 against 29.9% posted in Q3FY21. 

Tech Mahindra: Down 2.59%. The Indian multinational information technology services and consulting company has reported a 2.2% QoQ rise in the consolidated profit at Rs 1,369 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 1,339 crore in the previous quarter ended September 30, 2021. Revenue from operations grew 5.2% QoQ to Rs 11,451 crore in the reported quarter against Rs 10,881 crore posted in the previous quarter. In dollar terms, the revenue grew 4.1% to $153.35 crore against $147.3 crore posted in the September 2021 quarter. EBIT stood at Rs 1,698 crore, up 2% QoQ against Rs 1,652 crore posted in the previous quarter. Margin declined to 14.8% in Q3FY22 against 15.2% posted in Q2FY22. The attrition rate was at 24% during the quarter as against 21% in the preceding quarter. Net New Deal wins stands at $70.4 crore. 

Indian Hotels: Down 1.33%. Tata group hospitality firm Indian Hotels Co Ltd (IHCL) has reported a consolidated net profit of Rs 96 crore for the quarter ended December 31, 2021. It had posted a consolidated net loss of Rs 133.22 crore in the same period last fiscal. Revenues from operations grew 98.5% to Rs 1,111.2 crore against Rs 559.9 crore posted last year. The company has posted an EBITDA profit of Rs 321.8 crore in the reported quarter against an EBITDA loss of Rs 16.7 crore posted last year. The margin stood at 29% in Q3FY22. 

Cholamandalam Investment: Down 1%. The financial services company Cholamandalam Investment and Finance Company has reported a 28% YoY rise in the net profit at Rs 524 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 409 crore in the corresponding quarter last year. Net income grew 9% YoY to Rs 1,484 crore against Rs 1,364 crore posted last year. The company's gross NPA declined to 5.85% in Q3FY22 against 6.16% reported in Q2FY22. The net NPA also declined to 3.58% in the reported quarter against 3.91% posted in the previous quarter. Total Disbursements grew 32% QoQ to Rs 10,430 crore against Rs 7,926 crore posted in September 2021 quarter. 

Sutlej Textile: Down 3.90%. The textile and cotton yarn manufacturer has reported a 217% YoY rise in the consolidated profit at Rs 36.52 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 11.52 crore in the corresponding quarter last year. Revenue from operations grew 48% YoY to Rs 813.21 crore against Rs 549.44 crore posted last year. EBITDA stood at Rs 89.26 crore, up 101% YoY from Rs 44.31 crore posted last year. Margin improved to 10.98% in Q3FY22 against 8.1% posted in Q3FY21. 

IFB Industries: Down 4.48%. The company has reported a consolidated loss of Rs 3.2 crore for the quarter ended December 31, 2021, against a consolidated profit of Rs 71.24 crore posted in the corresponding quarter last year. Revenue from operation was almost flat at Rs 953.1 crore in the period under consideration against Rs 951 crore posted last year. EBITDA stood at Rs 27 crore, down 74.7% from Rs 107.2 crore posted last year. Margins down to 2.8% in Q3FY22 against 11.3% posted in Q3FY21. 

Stocks In News

Tata Teleservices Ltd: Up 4.79%. Tata Teleservices (Maharashtra) (TTML) has decided not to convert its accrued interest on deferred AGR dues into government equity. IT said the amount to be converted as per the government's calculations stands at Rs195.22 crore, which is much lesser than its estimation of Rs 850 crore. On January 11, 2022, the company had told the bourses that it wanted to opt for equity conversion. (the news is positive for the company ) 

Eicher Motors: Up 1.84%. The company has sold 58,838 units of motorcycles in January 2022 against 68,887 units sold in the same month of last year. Total commercial vehicles sales stood at 5,434 units in January 2022 against 5,673 units sold in January 2021.