Stocks to watch out for today: Wipro, Adani Ports, Bharat Electronics, Zee Entertainment and more
Sensex rose 483 points to 71,555 and Nifty gained 127 pts to 21,743. BSE investor wealth climbed to Rs 380.77 lakh crore.
- Feb 14, 2024,
- Updated Feb 14, 2024 8:55 AM IST
Benchmark indices ended higher on Tuesday led by gains in banking and healthcare stocks. Sensex rose 483 points to 71,555 and Nifty gained 127 pts to 21,743. BSE investor wealth climbed to Rs 380.77 lakh crore. Banking and healthcare shares were the top sectoral gainers with their indices rising 736 points and 258 points, respectively on BSE. On the other hand, the BSE metal index slumped 389 pts to end at 26,608.
Here’s a look at stocks that are likely to remain in action today.
Earnings today
Shares of Mahindra & Mahindra, Aditya Birla Fashion and Retail, Crompton Greaves Consumer Electricals, Dishman Carbogen Amcis, Gateway Distriparks, Gland Pharma, Glenmark Pharmaceuticals, Gujarat State Petronet, Indiabulls Housing Finance, Ipca Laboratories, Jyoti CNC Automation, Credo Brands Marketing, Muthoot Finance, Natco Pharma, Narayana Hrudayalaya, NMDC, Sun TV Network, and Wockhardt are in news today as these firms will announce their December quarter earnings.
Wipro
The IT services company has invested $66 million in the US-based Aggne Global Inc. to strengthen its consulting and services capabilities in the insurance sector. The company will buy a 60 percent stake in Aggne and has kept the option to purchase the remaining stake over a period of time. The transaction is expected to be completed by February 14, 2024.
Adani Green Energy
Global rating agency Moody’s Investor Service has reaffirmed its credit ratings on the company’s senior secured bond at Ba3, with a change in outlook from negative to stable.
IRCTC
The state-owned company reported a 17.4 percent year-on-year rise in standalone net profit at Rs 300 crore in Q3. Revenue from operations climbed 21.8 percent year-on-year to Rs 1,118.3 crore for the quarter.
Adani Enterprises
Foreign brokerage Jefferies has initiated coverage on Adani Enterprises with a 'Buy' rating and a target of Rs 3,800, as it expects Ebitda for the Adani group flagship to double from FY23 to FY26 and grow over three times by FY23.
Sula Vineyards
The country's largest wine producer logged a net profit of Rs 43 crore in Q3, rising 9.4 percent over the corresponding period of the previous fiscal year, led by healthy operating numbers. Revenue from operations rose 4 percent YoY to Rs 217.5 crore in last quarter.
MTAR Technologies
The precision engineered systems maker reported a 67 percent year-on-year decline in net profit at Rs 10.4 crore in Q3 due to subdued topline and operating numbers. Revenue from operations slipped 26.1 percent year-on-year to Rs 118.4 crore during the quarter.
Zee Entertainment Enterprises
The media and entertainment company clocked a 141 percent year-on-year rise in net profit at Rs 58.5 crore in Q3. The base in Q3 FY23 was low as the profit was hit by an exceptional loss. Revenue from operations slipped 3 percent YoY to Rs 2,045.7 crore in Q3. EBITDA fell 42.9 percent year-on-year to Rs 209.2 crore and margins fell 720 bps to 10.2 percent in Q3 FY24.
Adani Ports and Special Economic Zone
Global rating agency Moody’s Investor Service has reaffirmed its investment grade rating at Baa3 on Adani Ports, maintaining a stable outlook.
Prestige Estates
The south-based real estate developer logged a 1.85% rise in consolidated net profit to Rs 164.7 crore in Q3. Revenue from operations fell 22.5 percent year-on-year to Rs 1,796 crore for the quarter.
Bharat Electronics
The Navaratna defense DPSU has inked a contract worth Rs 2,167.47 crore with the Indian Navy for the supply of indigenously designed and developed electronic warfare (EW) suites for use on-board warships.
Also read: ZEE shares at Rs 150 or Rs 200? Recovery slow, legal issues ahead, say analysts
Benchmark indices ended higher on Tuesday led by gains in banking and healthcare stocks. Sensex rose 483 points to 71,555 and Nifty gained 127 pts to 21,743. BSE investor wealth climbed to Rs 380.77 lakh crore. Banking and healthcare shares were the top sectoral gainers with their indices rising 736 points and 258 points, respectively on BSE. On the other hand, the BSE metal index slumped 389 pts to end at 26,608.
Here’s a look at stocks that are likely to remain in action today.
Earnings today
Shares of Mahindra & Mahindra, Aditya Birla Fashion and Retail, Crompton Greaves Consumer Electricals, Dishman Carbogen Amcis, Gateway Distriparks, Gland Pharma, Glenmark Pharmaceuticals, Gujarat State Petronet, Indiabulls Housing Finance, Ipca Laboratories, Jyoti CNC Automation, Credo Brands Marketing, Muthoot Finance, Natco Pharma, Narayana Hrudayalaya, NMDC, Sun TV Network, and Wockhardt are in news today as these firms will announce their December quarter earnings.
Wipro
The IT services company has invested $66 million in the US-based Aggne Global Inc. to strengthen its consulting and services capabilities in the insurance sector. The company will buy a 60 percent stake in Aggne and has kept the option to purchase the remaining stake over a period of time. The transaction is expected to be completed by February 14, 2024.
Adani Green Energy
Global rating agency Moody’s Investor Service has reaffirmed its credit ratings on the company’s senior secured bond at Ba3, with a change in outlook from negative to stable.
IRCTC
The state-owned company reported a 17.4 percent year-on-year rise in standalone net profit at Rs 300 crore in Q3. Revenue from operations climbed 21.8 percent year-on-year to Rs 1,118.3 crore for the quarter.
Adani Enterprises
Foreign brokerage Jefferies has initiated coverage on Adani Enterprises with a 'Buy' rating and a target of Rs 3,800, as it expects Ebitda for the Adani group flagship to double from FY23 to FY26 and grow over three times by FY23.
Sula Vineyards
The country's largest wine producer logged a net profit of Rs 43 crore in Q3, rising 9.4 percent over the corresponding period of the previous fiscal year, led by healthy operating numbers. Revenue from operations rose 4 percent YoY to Rs 217.5 crore in last quarter.
MTAR Technologies
The precision engineered systems maker reported a 67 percent year-on-year decline in net profit at Rs 10.4 crore in Q3 due to subdued topline and operating numbers. Revenue from operations slipped 26.1 percent year-on-year to Rs 118.4 crore during the quarter.
Zee Entertainment Enterprises
The media and entertainment company clocked a 141 percent year-on-year rise in net profit at Rs 58.5 crore in Q3. The base in Q3 FY23 was low as the profit was hit by an exceptional loss. Revenue from operations slipped 3 percent YoY to Rs 2,045.7 crore in Q3. EBITDA fell 42.9 percent year-on-year to Rs 209.2 crore and margins fell 720 bps to 10.2 percent in Q3 FY24.
Adani Ports and Special Economic Zone
Global rating agency Moody’s Investor Service has reaffirmed its investment grade rating at Baa3 on Adani Ports, maintaining a stable outlook.
Prestige Estates
The south-based real estate developer logged a 1.85% rise in consolidated net profit to Rs 164.7 crore in Q3. Revenue from operations fell 22.5 percent year-on-year to Rs 1,796 crore for the quarter.
Bharat Electronics
The Navaratna defense DPSU has inked a contract worth Rs 2,167.47 crore with the Indian Navy for the supply of indigenously designed and developed electronic warfare (EW) suites for use on-board warships.
Also read: ZEE shares at Rs 150 or Rs 200? Recovery slow, legal issues ahead, say analysts