Stocks to watch: Adani Enterprises, ONGC, Nykaa, IRB Infra, Castrol India and more

Stocks to watch today: Adani Enterprises, ONGC, Coal India, Siemens, Grasim Industries, and Eicher Motors, among others, will publish third-quarter fiscal year (Q3FY23) results.

Despite good global sentiments, the SGX Nifty saw a flat start to Tuesday’s trade as India’s inflation rate rose to a three-month high of 6.5 percent in January.

The SGX Nifty was trading at 17,809 points as of 7:15 a.m., up 20 points.

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Globally, US markets rose overnight in anticipation of the inflation news. The Dow Jones, NASDAQ Composite, and S&P 500 all gained up to 1.4%.

Asia-Pacific markets rallied in lockstep, with the Nikkei 225, S&P 200, Kospi, Kosdaq, and Topix all rising up to 0.6%.

Back home, the quarterly earnings season, the rupee’s movement, crude oil prices, and foreign money flow activity will all influence market developments.

The following are the top stocks that are expected to trade on Tuesday:

Earnings Today: Earnings will be reported today by Adani Enterprises, ONGC, Coal India, Siemens, Grasim Industries, Eicher Motors, Apollo Hospitals, Bosch, PI Industries, Bharat Forge, Vodafone Idea, NMDC, Biocon, Torrent Power, and Bata India, among others.

Nykaa: The company’s consolidated earnings fell 70.7 percent year on year (YoY) to Rs 8.4 crore in Q3FY23 from Rs 29 crore in Q3FY22, owing to investment and retail shops. However, revenue from operations increased by roughly 33% year over year to Rs 1,462.8 crore during the period.

Zee Entertainment: The company’s quarterly earnings fell 92% owing to decreasing advertising spending and greater expenses. While domestic advertising income fell 16%, overall costs increased by more than 10% to Rs 1,800 crore. Meanwhile, total income remained constant from the previous year at Rs 2,100 crore.

IRB Infrastructure: The construction business increased its consolidated net profit by 94.49 percent year on year to Rs 141.35 crore from Rs 72.68 crore in the previous quarter. Total revenue increased to Rs 1,570 crore from Rs 1,497.78 crore in Q3 FY22. The company’s costs decreased from Rs 1,280.22 crore to Rs 351.72 crore.

Castrol India: The lubricant manufacturer reported a profit after tax (PAT) of Rs 193 crore in Q3 FY23, up from Rs 189 crore the previous year. In contrast, revenue from operations increased by 8% year on year to Rs 1,176 crore in Q3 FY23 from Rs 1,091 crore in Q3 FY22.

SAIL: The state-owned company reported a 65 percent YoY drop in consolidated net profit to Rs 542.18 crore in Q3FY23, from Rs 1,528.54 crore, due to higher costs. Total revenue declined to Rs 25,140.16 crore from Rs 25,398.37 crore in the previous quarter. According to management, negative macroeconomic conditions throughout the world influenced steel prices, reducing steelmakers’ profitability.

JSW Steel: JSW Steel saw a 15% increase in crude steel output to 18.91 lakh tonne (LT) in January 2023, up from 16.4 LT in January 2022. Furthermore, flat-rolled product output climbed by 14% to 14.24 LT in January 2022, up from 12.47 LT in January 2022. Overall capacity utilisation increased to 99.9% in January 2023.

Brigade Enterprises: Strong demand and superior price realisation helped the business record 31% YoY sales of housing and commercial buildings worth Rs 2,618.5 crore in the first three quarters of the fiscal year 2022–23. Furthermore, the average sales realisation increased by 5% to Rs 6,616 per square foot from Rs 6,298 per square foot.

Chemplast Sanmar: Chemplast Sanmar proposes to invest over Rs 680 crore in the expansion of its Custom Manufactured Chemicals (CMC) Division near Hosur, Tamil Nadu. Phase 1 of the multi-purpose custom manufacturing block is expected to be completed by the second quarter of 2023–24, according to the business.

Stocks in the F&O Ban: Ambuja Cements, BHEL, Indiabulls Housing Finance, and PNB were among the equities subject to the F&O restriction on Tuesday, February 14.