Coal India, Tata Power, IRCTC: Stocks to watch out for today

Stocks to watch out for on Wednesday: The domestic equity market is expected to open in the green today. At 08:23 AM, the GIFT Nifty was trading 43 points, or 0.22 per cent higher at 19,603.5 levels. 

On Tuesday, the benchmark indices, the Nifty 50 and the Sensex, traded in a narrow range before closing the day's session with minor cuts. The S&P BSE Sensex ended at 65,846.5, down 107 points, or 0.16 per cent, while the NSE's Nifty was down 26 points, or 0.13 per cent, to finish at 19,570.85 points.

At around 8:38 am on Wednesday, August 9, the GIFT Nifty futures traded 6.5 points lower, or 0.03 per cent at 19,601.5, suggesting a negative opening of the market. 

As the indices showed marginal cuts, companies like Coal India, Hindalco, Oil India, Utkarsh SFB (newly listed), Siemens, Star Cement, Suven Pharma, Infibeam, Irkon, and Jet Airways reported their first-quarter results on Tuesday.

On the other hand, companies like Tata Power, IRCTC, Berger Paints, BRPL, Bluechip, and Jindalpoly are set to announce their April-June quarter on Wednesday (August 9).
 
ZeeBiz takes you through some of the prominent shares that can see major traction in the share market on Wednesday.

Results today, August 9

IRCTC, Berger Paints, Tata Power, Trent, Bharat Forge, Bajaj Consumer, Dreamfolks, Sunteck Realty, Eclerx, Bata, EID Parry, Force Motors, Granules, Abbot India, Matrimony, Natco Pharma, SJVN, Bombay Dyeing, Varroc Engg, Vguard, Emami Paper Mills, Hinduja Global, JM Chem & Pharma, PI Industries, Reliance Power, VMart, FDC, Max Financial, ZEEL will announce their June quarter numbers today. 

Coal India 

The Public Sector Undertaking company's profit after tax (PAT) slid 10 per cent to Rs 7,971 crore in the April-June quarter against Rs 8,893 crore in the year-ago period.

The consolidated revenue of the largest coal producer in India, however, jumped 2.5 per cent to Rs 35,983 crore from Rs 35,092 crore in the corresponding period last year.

The company's share lost early gains on Tuesday to end the day at Rs 230.25 on the BSE.   

Tata Power

Zee Business research estimates the company's revenue to rise 7.9 per cent year-on-year (YoY) to Rs 15,636 as the power generation company is set to announce its first-quarter results on Wednesday.

The company's EBITDA is expected to soar 58 per cent to Rs 2,655 crore, while the EBITDA margin is set to rise to 16.98 per cent against 11.61 per cent in the corresponding quarter last year.

Analysts estimate the PAT to fall 11 per cent YoY to Rs 710 crore from Rs 794.6 crore in the first quarter of last year.

The company's share price closed 0.34 per cent higher at Rs 233.60 on Tuesday.

Berger Paints

One of the leading paint companies in India is expected to report robust Q1 results on Wednesday.

As per Zee Business research analysts, Berger Paints' PAT is likely to soar 25 per cent to Rs 317 crore in the quarter under review from Rs 254 crore in the corresponding period last year.

The revenue from operations is estimated to jump 8 per cent to Rs 2,978 crore in the current quarter from Rs 2,769 crore in the corresponding quarter in FY23.

Analysts estimate the EBIDTA to skyrocket 27 per cent to Rs 514 crore in the April-June quarter from Rs 405 in the same quarter last year.

The company's shares were up 0.67 per cent to Rs 711.50 at market close on Tuesday.

IRCTC

The Indian Railway Catering and Tourism Corporation (IRCTC) is also set to announce its quarterly results on Wednesday.

According to Zee Business Research, IRCTC is likely to report a 12 per cent YoY rise in net profit to Rs 275.4 crore and revenue growth of 20.2 per cent to Rs 1025 crore.

The company's share price was not in good health on Tuesday, as it ended the day 1.59 per cent down at Rs 643.25.

Jet Airways

One of the prominent airlines in India is set to release its first-quarter results later in the day (August 8).

On Monday, the National Company Law Appellate Tribunal (NCLAT) was informed that Jalan Karlock Consortium, Jet Airways' new management company, has to pay Rs 350 crore to the committee of creditors towards fulfilling conditions precedents.

The company's share price performed well on the BSE on Tuesday, as it gained 1.99 per cent to end the market session at Rs 60.60.

Aarti Drugs

The buyback of shares window will open today. till August 17. The price for the share is fixed at Rs 900 apiece and a total of 6.65 lakh shares will be repurchased by the company. 

The company also announced its June quarter number on Tuesday. The company posted a profit after tax (PAT) of Rs 70 crore against Rs 136 crore, down 49 per cent. The revenue of the company stood at Rs 1414 crore against Rs 1610 crore, down 12.2 per cent. 

Siemens 

Multinational conglomerate Siemens which follows October to September year posted a 51 percent-on-year rise in its consolidated net profit for the quarter ended June 30, 2023, to Rs 455.8 crore on the back of a rise in operating margins seen during the quarter.

Gujarat Alkalies & Chemicals

The company reported a loss of Rs 57 crore against a PAT of Rs 19 crore in a year ago period. The revenue of the company was logged at Rs 913 crore against 1128 crore, down 19.1 per cent. 

Birla Corporation

M P Birla group flagship, Birla Corporation, recorded a 3.6 per cent year-on-year (YoY) drop in consolidated net profit to Rs 59.71 crore in the quarter from April to June (or Q1 of the financial year 2024). The net profit in the year-ago period stood at Rs 61.92 crore.

The company attributed this decline to higher depreciation and interest costs. However, cash profit at Rs 217 crore was up by 6.5 percent, owing to improved sales and a substantial decrease in power and fuel costs, it explained.

Data Patterns 

Data Patterns (India) Ltd reported an 81.4 per cent increase in net profit at Rs 25.83 crore for the first quarter that ended June 30, 2023, against Rs 14.24 crore in the same quarter last year. Revenue was up 31.2 per cent at Rs 89.69 crore.

The Phoenix Mills

Phoenix Mills reported a 66.5 per cent decline in net profit at Rs 240.5 crore for the first quarter that ended June 30, 2023, against Rs 718.69 crore in the same quarter last year. Revenue was up 41.1 per cent at Rs 810.62 crore.

Oil India

Oil India reported a 10 per cent decline in PAT at Rs 1,613 crore for the first quarter that ended June 30, 2023, against Rs 1,788 crore in the March quarter. Revenue was down 16 per cent at Rs 4.531 crore quarter-on-quarter (QoQ).   

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank, which got listed on the bourses last month, reported a 20 per cent YoY rise in net profit for the June quarter at Rs 107 crore, on account of higher income and lower provisions.

PCA, Mankind, Alkem, Cadila, Cipla, Sanofi, Abbott 

National Pharmaceutical Pricing Authority has fixed the prices of 44 formulations including the maximum price of multivitamins and D-3 including sugar, pain, fever, infection, and heart medicine is fixed 

Shyam Metalics and Energy Ltd

The company has released a business update in which the Sponge Iron declined from 60,158 tonnes to 55,701 tonnes, down 7.4 percent yoy. The Steel Billets decreased from 24,040 tonnes to 15,570 tonnes, down 35.2 per cent (YoY).

ICICI Lombard  

The company has received a show cause notice from Delhi Goods and Services Tax (GST) Intelligence. The company has deposited Rs104 crore as per the notice.

Lupin 

Subsidiary Novel Laboratories Inc gets approval for the drug from US FDA. Fluocinolone Acetonide Body Oil drug got approval. The drug will be manufactured at Lupine's US-based SOMERSET facility. The annual turnover of the drug in the US is USD 1 crore.

Zee Learn 

Subhash Chandra’s Essel Group-owned Zee Learn Ltd on Tuesday confirmed signing a settlement agreement with JC Flowers Asset Restructuring Co. (ARC). 

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