Three stocks namely Persistent Systems, Nalco and Havells India will turn ex-dividend today. Dozens of companies including Tata Motors, Bajaj Auto, Dr Reddy's Labs, Cipla, Tata Elxsi, DLF, Patanjali Foods and Bikaji Foods will announce their December quarter results during the day. The board members of Torrent Pharmaceuticals, Indraprastha Gas, VIP Industries, Sundaram Clayton and Kirloskar Pneumatic Company will consider interim dividends today, along with their quarterly earnings.
Share of Persistent Systems would turn ex-dividend today. Persistent Systems had announced an interim dividend of Rs 28 per share. The record date for the same is January 27 and the dividend will be paid on February 17.
Nalco shares will turn ex-dividend today. Nalco had announced an interim dividend of Re 1 per share. The record date for the same is January 27 and the dividend will be paid on February 15.
Havells India would also turn ex-dividend today. Havells India had announced an interim dividend of Rs 3 per share. The record date for the same is January 28 and the dividend will be paid on February 18.
Meanwhile, the biggest results for the day would be that of Tata Motors.
On a standalone basis, Kotak Institutional Equities sees Tata Motors' losses narrowing to Rs 26.50 crore in the December quarter from Rs 215.70 crore loss in September and Rs 610 crore loss in the year-ago quarter. The domestic brokerage expects revenue for Tata Motors to rise 17.7 per cent YoY to Rs 14,544 crore compared with Rs 12,352.80 crore in the corresponding quarter last year. Margin is seen expanding to 5.2 per cent from 4.4 per cent in September and 2.4 per cent in the corresponding quarter last year, the brokerage said.
"We estimate standalone business revenues to decline by 3 per cent QoQ in Q3FY23 led by 5 per cent QoQ decline in volumes and 2 per cent QoQ increases in ASPs due to richer product mix mix. Overall, we expect Ebitda margin to improve to 5.2 per cent in Q3FY23 from 4.4 per cent in Q2FY23 led by RM tailwinds," it said.
On a consolidated basis, Kotak sees profit at Rs 800 crore against a loss of Rs 1,796 crore in the year-ago quarter. Sales are seen rising 14.50 per cent YoY to Rs 82,718 crore, Kotak said.
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