Stocks in News: From Q3 results to corporate actions – Power Grid, ACC, Bosch, Aurobindo Pharma, NMDC, IGL key scrips to watch out for on Wednesday

Snapping three-day fall, the Indian markets on Tuesday closed in the green amid massive volatility. Sensex ended 187 points higher at 57,809 after a 900-point trading range, while Nifty50 settled above 17250-mark. Midcap index fell 1 per cent at the close, market breadth favours declines.  

At least 28 stocks closed in the green, 22 in the red on Nifty50. Tata Steel, Cipla, Reliance were the top gainers and ONGC and Power Grid top losers. Almost all sectoral indices closed in the green except for IT, media and realty. Metal and pharma stocks contributed the most to markets rally on Tuesday.  

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Below are the five themes on which dozens of stocks are likely to show impact on the respective news and corporate actions of the company.  

Q3 Results on Wednesday 

At least dozens of companies to announce their October-December quarter earnings for the financial year 2021-22. From the index heavyweight, Power Grid Corporation to announce its results along with other prominent companies from broader markets such as Tata Power, Bosch, Berger Paints, ACC, Nykaa, SAIL, Aurobindo Pharma, Abbott India, Petronet LNG 

Aftermarket Earnings 

Bharti Airtel reported mixed earnings for Q3FY22, wherein the profit slipped around 27 per cent to Rs 830 crore and revenue surged marginally over 5 per cent to Rs 29866 crore sequentially. 

Indian Railways Catering and Tourism Corporation (IRCTC) reported strong Q3 numbers, as profit and revenue doubled to Rs 208 crore and Rs 540 crore during the quarter as compared to Rs 78 crore and Rs 224 crore year-on-year. 

JSPL reported mixed Q3 numbers, as the company’s net revenue stood at Rs 12,525 crore versus Rs 9281 crore YoY; company on track to achieve Rs 50,000 crore revenue for FY22, it said. The profit of JSPL slipped over 33 per cent to Rs 1622 crore as against Rs 2440 crore YoY. 

Gujarat Gas registered mixed Q3 numbers, as consolidated profit of the company came at Rs 123 crore versus Rs 391 crore and revenue from operations at Rs 5,241 crore versus Rs 2,890 crore YoY. 

J&K Bank posted mixed Q3 earnings, as the company’s profit grew YoY to Rs 173 crore versus Rs 66 crore, while net interest income came at Rs 993 crore versus Rs 1,005 crore YoY. 

Cotton Greaves reported weak Q3 results, as the company post consolidate loss of Rs 5 crore versus profit of Rs 21 crore YoY and consolidated revenue came at Rs 486 crore versus Rs 494 crore YoY. 

Reddington India reported healthy Q3 numbers, as the profit of the company surged three-fold to Rs 137 crore as against Rs 34 crore YoY and revenue came at Rs 7,088 crore versus Rs 7,714 crore YoY. 

AstraZeneca India’s Q3 profit halved to Rs 11 crore from Rs 21 crore YoY and revenue came flat at Rs 201 crore versus Rs 200 crore YoY 

NMDC witnessed a minute dip in consolidated Q3 profit at Rs 2,048 crore as against Rs 2108 crore YoY, while its consolidated revenue surged to Rs 5,873 crore versus Rs 4,355 crore YoY. 

Bata India registered strong consolidated Q3 numbers, as the profit of the company surged almost three-fold to Rs 72 crore as against Rs 26 crore YoY and revenue jumped almost 37 per cent to Rs 841 crore as compared to Rs 615 crore YoY. 

IGL reported mixed Q3 numbers, as the company’s profit declined by 23 per cent to Rs 308 crore versus Rs 400 crore sequentially and revenue from operations at Rs 2,438 crore as compared to Rs 2,016 crore quarter-on-quarter.  

Important Earnings During Market Hours 

Escorts Ltd reported a 32 per cent decline in consolidated net profit at Rs 193.71 crore for Q3FY22 as compared to Rs 286.42 crore in the same quarter last fiscal. Consolidated total income during the quarter under review stood at Rs 2,025 crore, versus Rs 2,090.93 crore in the year-ago period. 

Godrej Consumer Products Ltd (GCPL) reported a 4.93 per cent increase in consolidated net profit at Rs 527.60 crore for Q3FY22 as against Rs 502.80 crore a year ago quarter. Its revenue was up 8.08 per cent at Rs 3,302.58 crore versus Rs 3,055.42 crore YoY. 

Bajaj Electricals reported a decline of 50.94 per cent in its consolidated net profit to Rs 48.17 crore in Q3FY22 as against Rs 98.19 crore YoY. Its revenue slipped down 12.02 per cent to Rs 1,319.81 crore as against Rs 1,500.14 crore YoY. 

Stocks in News 

Vedanta says the company to bid for BPCL at EOI stage. If it culminates, may undertake management of acquired business, via profit-sharing arrangement or on management fee model. 

Vedanta completes reorganization review and concludes that the current structure is optimal. 

Bharti Airtel board approves raising up to Rs 7500 crore 

NMDC declares second interim dividend of Rs 5.73 per share 

Lupin gets approval from US FDA for Arformoterol Tartrate Inhalation Solution 15 mcg (base)/2 ml. 

Vedant Fashions IPO gets subscribed 2.7 times on the final day, the bidding largely driven by QIB category, which is 7.5 times. 

Krsnna Diagnostics gets order from Chandigarh government (UT) for Imaging diagnostic centre

Corporate Action 

The ex-date of at least companies to disburse interim dividend is on Wednesday. In this, Aarti Drugs (Rs 1 per share), Bharat Electronics (Rs 1.5 per share), Gillette India (Rs 33 per share), Orient Cement (Rs 0.75 per share), GPT Infraprojects (Rs 1.5 per share), Indian Oil Corporation (Rs 4 per share), and Sun Pharmaceutical (Rs 7 per share).