Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Wednesday's trading session based on latest news developments. Investors are also awaiting December quarter earnings that are scheduled to be released today. Companies set to announce their earnings are Larsen & Toubro, SBI Life, Motilal Oswal, Raymond, RBL Bank, Tata Communications, Alembic Pharma, Asian Paints, Axis Bank and Ceat Ltd among others.
IndiaMart Q3: Company's profit after tax grew 123.83% to Rs 63 crore for the period ended December 31, 2019 as against Rs 27.7 crore for the period ended December 31, 2018, largely due to tax benefits. Revenue rose 23% to Rs 181.5 crore during Q3FY20 as compared to Rs 147 crore during Q3 FY19.
Polycab India Q3: Company's PAT grew by 14% to Rs 221 crore in Q3FY20 from Rs 193 crore in Q3FY19. Company's revenue rose 24% YoY to Rs 2,507 crore driven by healthy growth across segments. The wires and cables business grew 20% to Rs 2,150 crore in Q3FY20 from Rs 1,795 crore recorded in Q3FY19. The fast moving electrical goods business grew 34% to Rs 216 crore in Q3FY20 from Rs 161 crore in Q3FY2019. Company's ROCE stood at 30.6% and ROE at 23.5% for Q3FY20.
ICICI Prudential Life Q3: Company's net profit rose 1.9% (YoY) to Rs 302.5 crore in Q3 FY20 as compared to Rs 297 crore recorded in Q3 FY19. Company's net premium income climbed 8.7% (YoY) to Rs 8,131 cr during the quarter ended December 2019 as against Rs 7,483 crore reported in the same period last year.
Rane Madras Q3: Company's net loss widened 954.41% on a yearly basis to Rs 7.17 crore during Q3FY20 as against Rs 0.68 crore loss recorded in Q3FY19. Company has reported net sales of Rs 320.46 crores during the period ended December 31, 2019, as compared to Rs 387.68 crore during the same period last year, registering a de-growth of 17.34%.
Newgen Software Technologies Q3: Company's profit after tax stood at Rs 24 crore, up 33% due to revenue growth and cost optimisation, while company's EBITDA was at Rs 35.8 crore, rising 34%. Revenue from operations (Consolidated) rose 15% yearly to Rs 185 crore as compared to Rs 160.5 crore in Q3FY19. Revenue from sale of products/ Licence stood at Rs 35.9 crore, Annuity Revenue streams (ATS/AMC, Support and Cloud/SaaS) at Rs 102.6 crore, Implementation & Digitization revenues at Rs 46.4 crore.
Granules India Q3: Company's net profit rose 6.1% YoY to Rs 64 crore in December quarter of 2019, as against Rs 60.3 crore, reported in December quarter of 2018. The company also reported one-time loss of Rs 32 crore due to impairment. Company's revenues were up 11.4% at Rs 704 crore in Q3FY20 as compared to Rs 631.8 crore recorded during Q3 FY19. Company's EBITDA rose 44.% to Rs 163.2 crore versus Rs 113.3 crore, while its margins stood at 23.2% this quarter compared to 17.9% in the same quarter last year. Granules India board has approved share buyback of up to 1.25 crore equity shares worth Rs 250 crore at Rs 200 per share. Granules India Ltd board has also declared 3rd interim dividend of Rs 0.25.
Telecos: Telecom stocks of Vodafone Idea, Bharti Airtel, Infratel and Tata Communications are likely to be under investor's focus today as the companies filed a modification application in the Supreme Court, seeking more time to pay the adjusted gross revenue (AGR) dues to the government the deadline for which ends on January 23.
Indian Overseas Bank: The bank has issued equity shares on a preferential basis to government for the capital infusion of Rs 4,360 crore received during FY 2019-20.
Central Bank of India: The Bank has made Annual Interest Payment of Rs 27.6 crore on 21 January 2020, on its Upper Tier ll Series Vl of Rs 300 crore at a coupon rate of 9.20% to the eligible bondholders as per the record date.
Mayur Uniquoters: Company said the commercial operations in its newly set up PU Plant located at Sitapur Phase 1 Industrial Area, Morena, Madhya Pradesh have commenced on January 21, 2020.
Q3 Earnings Today: Larsen & Toubro, SBI Life Insurance, Motilal Oswal Financial Services, Raymond, RBL Bank, VST Industries, Ujjivan Small Finance Bank, Tata Communications, Alembic Pharmaceuticals, Asian Paints, Axis Bank, Ceat Ltd, Hindustan Media Ventures, IIFL Wealth Management, Syngene International, Agro Tech Foods, AU Small Finance Bank, Creditaccess Grameen, Eimco Elecon India, Gateway Distriparks, India Grid Trust, Swasti Vinayaka Synthetics, Swasti Vinayaka Art And Heritage Corporation, Supreme Petrochem, Sharda Cropchem, Ozone World, Pro Fin Capital Services, Rane Engine Valve, R.S. Software India, Victory Paper & Boards, Triton Corp, Alchemist Corporation, Ashirwad Capital, Axiscades Engineering Technologies, Genus Power Infrastructures, K.P.R. Mill among others will release their Q3 results today.