Stocks to watch: Adani Enterprises, Britannia, Maruti, LIC, TVS and more

HDFC, Titan, Tata Consumer, Dabur India, Zydus, Berger Paints, Max Healthcare, Apollo Tyres, and Bajaj Electricals will be among the companies reporting profits for the fourth quarter today.

Here are the top 10 stocks that could be in focus in today’s trade:

Adani Enterprises: On February 1, Adani Enterprises stated that its board of directors has decided not to proceed with the fully subscribed follow-on public offer (FPO). According to a stock regulatory filing, the business intends to defend the interests of its investing community by returning the FPO funds and withdrawing the completed transaction. The business has taken the following measures in response to the crash in the shares of Adani Group firms: Meanwhile, markets regulator SEBI is investigating the run and any suspected violations in its flagship company’s recent share sale, according to Reuters.


Britannia Industries: FMCG behemoth Britannia recorded a 152% increase in consolidated net profit to ₹932.40 crore on Wednesday. According to the company’s regulatory filing, this compares to a net profit of Rs. 369.18 crore. Consolidated revenue from operations increased by 16% to ₹4,101.49 crores, up from ₹3,530.70 crores in the previous fiscal quarter. Britannia said that the net profit comprises an unusual gain (net of tax) of ₹359 crores as a result of a joint venture with Bel SA and the subsequent sale of a 49% equity investment in its subsidiary, Britannia Dairy Private Limited, as well as a fair valuation of the remaining 51% ownership.

SBI Life, LIC, and HDFC Life: With the new tax proposal on higher premium annuity products in the budget, the life insurance sector is concerned that its top lines would be affected by 10–12%. Vibha Padalkar, chief executive of leading private life insurer HDFC Life, told PTI that the budget plan to tax life products with annual premiums of more than ₹5 lakh will have a 10-12% impact on the company’s top line. She is also concerned that the enhanced tax exemption band of ₹7 lakh, as well as the significant fall in the highest surcharge on the wealthy to 39% from 42.74% previously, would encourage them to spend more and save less.

Jubilant Foodworks: Jubilant Foodworks Ltd (JFL), which operates fast-food brands Domino’s Pizza and Dunkin’ Donuts, announced a 39.66% drop in its consolidated net profit for the third quarter ended December 31, 2022, to ₹80.36 crore on Wednesday. Jubilant Foodworks Ltd. (JFL) reported a consolidated net profit of ₹133.19 crore in the October-December quarter of the previous fiscal, according to a regulatory filing. Its revenue from operations increased 10% year over year to ₹1,331.81 crore from ₹1,210.77 crore in the previous quarter.

Syngene International: Biocon Ltd divested a 10% stake in its research unit Syngene International in open market transactions on Wednesday for ₹2,240 crore.Among those who have purchased shares are the Government of Singapore, Abu Dhabi Investment Authority, Monetary Authority of Singapore, ICICI Prudential Mutual Fund, Morgan Stanley Asia Singapore Pte, and Norges Bank on behalf of the government pension fund worldwide. Biocon, the promoter of Syngene International, sold a total of 4,00,00,000 shares, equating to 9.96% ownership in the business, according to block deal data accessible through the BSE.

Maruti Suzuki/Tata Motors/M&M: Auto companies like Maruti Suzuki, Tata Motors, M&M Ltd., TKM, Kia India, and Hyundai reported improvement in car sales statistics in January 2023. MG Motor and Honda, on the other hand, reported a drop in sales volume over the same time period. Total domestic passenger car sales were 1,55,142 units, up from 1,36,442 units in the same time period the previous year, representing a 14% increase.

Tata Chemicals: Tata Chemicals recorded a 21.42 percent increase in overall net profit for the December quarter to ₹425 crore on Wednesday. According to a regulatory statement, the company’s net profit during the preceding fiscal term was ₹350 crore. The company’s revenue from operations increased by 32.05 percent to ₹4,148 crore during the quarter under review, compared to ₹3,141 crore at the same time last year.

Ashok Leyland: The Hinduja Group’s flagship company, Ashok Leyland, reported a threefold increase in earnings after tax to ₹361 crore for the third quarter ended December, boosted by strong sales.In the previous fiscal’s October-December quarter, the firm had a profit after tax of ₹6 crore. The business stated in a statement that revenue for the quarter was ₹9,030 crore, up from ₹5,535 crore the previous year. Ashok Leyland reported a 69% increase in domestic medium and heavy commercial vehicle volume year on year to 28,221 units.

TVS Motors: According to data provided on Monday, two- and three-wheeler manufacturer TVS Motor Company sold 275,115 units in January 2023. Sales increased by 3% over the previous year, when the business sold 266,788 units. Its two-wheeler sales increased by 4% to 264,710 units in January 2023 from 254,139 units the previous year, supported by a 29% increase in domestic two-wheeler sales to 216,471 units in January 2023 from 167,795 units in January 2022, according to TVS Motor.

Raymond Ltd.: Raymond reported a 4.42% drop in its December quarter net profit to ₹96.60 crore on Wednesday, owing mostly to a one-time tax blow. Raymond stated in a regulatory filing that the business had a net profit of ₹101.07 crore during the previous fiscal year’s October-December quarter. Its revenue from operations increased 17.61% to ₹2,168.16 crore in the current quarter, compared to ₹1,843.39 crore the previous year. According to Raymond, it has generated the “highest-ever revenues in a quarter.”

Mahindra Logistics: Mahindra Logistics Ltd (MLL) reported a flat profit after tax of ₹1 crore in the December quarter on Wednesday. According to a statement, the company’s profit after tax (PAT) was ₹12 crore before the impact of its Rivigo purchase. It announced the acquisition of Rivigo’s B2B express division in September last year. The transaction was finalised in November 2022. However, revenue increased 17% to ₹1,330 crore in the current quarter from ₹1,136 crore in the previous year, according to the business.