Stocks in Focus on January 14: Mindtree, Titan, Tata Motors, Welspun Enterprises, Reliance Industries and many more
Domestic stock markets settled with small gains on Thursday, January 13, 2022.
Domestic stock markets settled with small gains on Thursday, January 13, 2022. The S&P BSE Sensex rose 85.26 points or 0.14% at 61,235.30. The Nifty 50 index rose 45.45 points or 0.25% at 18,257.80. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Friday, January 14, 2022. List of such five stocks:
Q3FY22 Earnings: Mindtree + Plastiblends India + Tata Metaliks
Mindtree: IT firm Mindtree on Thursday reported a 9.6% QoQ rise in the consolidated profit at Rs 437.50 crore for the quarter ended December 31, 2021. It posted a profit of Rs 399 crore in the previous quarter ended September 30, 2021. Its revenue from operation grew 6.3% to Rs 2,750 crore in the period under consideration compared to Rs 2,586 crore posted in September 2021 quarter. Its revenue in dollar terms grew 4.6% to $36.6 crore compared to Rs 35 crore posted in the last quarter. EBIT grew by 12.8% to Rs 529 crore compared to Rs 469 crore. The margin improved to 19.2% in Q3FY22 from 18.1% posted in Q2FY22. The company's sequential revenue growth of 5.2 per cent in constant currency. The attrition level grew to 21.9% in the quarter ended December 2021 against 17.7% posted in September 2021 quarter. The company’s year-to-date deal TCV (total contract value) crossed USD 1.2 billion.
Plastiblends India: The manufacturer and exporter of Colour & Additive Master Batches on Thursday reported a 6.1% YoY rise in the consolidated profit at Rs 12.1 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 11.4 crore in the corresponding quarter of the previous financial year. Its revenue from operations grew 8.8% to Rs 174 crore in the period under consideration compared to Rs 160 crore posted last year. EBITDA dropped by 0.5% to Rs 19.6 crore from Rs 19.7 crore posted last year. The Margin declined to 11.3% in Q3FY22 from 12.3% posted in Q3FY21. The company has achieved the highest ever quarterly income of Rs 175 crore.
Tata Metaliks: The manufacturer of pig iron and DI pipes in India has reported a 52.5% YoY decline in its consolidated profit at Rs 35.7 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 75.2 crore in the corresponding quarter of the previous financial year. Its revenue from operations grew 31.2% to Rs 690 crore in the period under consideration against Rs 526 crore posted last year. EBIDTA declined 46.5% to Rs 68 crore in the December 2021 quarter against Rs 127 crore posted in December 2020 quarter. Its margin contracted to 9.9% in Q3FY22 from 24.1% posted in Q3FY21. The company in a statement has said that the cost of material, changes in inventory and other expense increase led to margin fall.
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Titan: Ace investor Rakesh Jhunjhunwala has raised his stake in jewellery-watches-to-eyewear maker Titan Company from 3.80% to 4.02% in the quarter ended December 2021. With this, his shareholding in the company has increased to 5.09% from 4.87%. In addition, his wife Rekha Rakesh Jhunjhunwala's shareholding was maintained at 1.07% during the same period.
Tata Motors: Tata Motors on Thursday reported a 2 per cent year-on-year increase at 2,85,445 units in group global wholesales for the third quarter of FY22. Global wholesales of all Tata Motors' commercial vehicles range in Q3FY22 were at 1,02,772 units, higher by 14 per cent over Q3FY21. For all passenger vehicles, the global wholesales in Q3FY22 stood at 1,82,673 units, down three per cent as compared to the same period a year ago.
Zomato: Amid stringent curbs to contain the third wave of COVID-19 pandemic, discounts that were being offered by online food delivery platforms, Zomato and Swiggy, have been reduced. The discounts have gone down amid a steep surge in demand for food deliveries and severe cost pressure. Many restaurants are working on delivery mode only. Besides, Zomato has shut down (de-registered) its subsidiary company Zomato SA in South Africa.
Welspun Enterprises: Private equity investor Actis, reportedly, may buy six road assets of Welspun Enterprises Ltd for an enterprise value of Rs 8,000 crore- Rs 10,000 crore. The equity value of the transaction is expected to be well over Rs 2,000 crore. The asset includes five hybrid annuity model (HAM) roads and one build-operate-transfer (BOT) project. Welspun expects to close the sale process by end of March.
LIC IPO: Life Insurance Corporation (LIC), India's largest insurer, initial public offering (IPO) may open for bidding by mid-March, as reported by Reuters. Currently, the officials are working on the valuation of the company. The company could publish the draft prospectus of its mammoth initial public offering (IPO) this month.
Reliance Industries: Reliance Industries Limited (RIL) signed MoU with the Government of Gujarat for a total investment of Rs 5.955 lakh crore as part of the Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct/indirect employment opportunities in the State. To make Gujarat net-zero and carbon-free, RIL proposes to invest Rs 5 lakh crore in the State over 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development. RIL will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen. RIL will invest another Rs 60,000 crore in setting up New Energy Manufacturing-Integrated Renewable Manufacturing: 1) Solar PV Module (manufacture of Polysilicon, wafer, cell & module); 2) Electrolyzer; 3) Energy-storage Battery; 4) Fuel Cells. Further Rs 25,000 crore investments will be made by RIL in existing projects and new ventures over the next 3 to 5 years. RIL has also proposed to invest Rs 7,500 crore over 3 to 5 years for Jio Network upgradation to 5G and another Rs 3,000 crore over 5 years in Reliance Retail.
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