Stocks to watch: Adani Total, Airtel, Adani Power, L&T, Tata Steel

LIC, IRCTC, Hindalco, HPCL, Adani Total, Zomato, Aurobindo Pharma, and Bajaj Consumer Care will be among the companies reporting profits for the December quarter today.

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

Adani Total: France’s TotalEnergies has placed a planned investment in Adani Group’s USD 50 billion hydrogen project on hold until the findings of an audit undertaken in response to charges made by a US short-seller, said CEO Patrick Pouyanné on Wednesday. While the collaboration in which the French oil giant was to take a 25% interest in the Adani group’s hydrogen venture was announced in June last year, TotalEnergies has yet to execute a contract, he noted during an earnings call.


Bharti Airtel: Bharti Airtel announced on Wednesday a strategic relationship with Vultr, the world’s biggest privately-held cloud computing business, to supply cloud solutions to Indian enterprises. According to the service provider, Airtel will provide Vultr’s wide array of cloud solutions to its corporate clients, particularly those in the digital area, to assist them obtain unrivalled global reach and cost-performance advantage in building, testing, and running demanding cloud workloads.

Adani Power: Adani Power, an Indian power and energy firm that is part of the Adani Group, announced on Wednesday that its consolidated net profit fell 96% year on year to ₹8.7 crore for the quarter ending December 31, 2022. (Q3FY23). In the same quarter previous year, the firm earned ₹218.5 crore. Adani Power recorded a 401.6% increase in consolidated profit after tax (PAT) at ₹695.53 crore in the September quarter of this fiscal year, compared to a ₹230.6 crore loss in the similar quarter previous year.

Hero MotoCorp: Hero MotoCorp, India’s largest two-wheeler manufacturer, has set an aggressive product strategy for its Vida electric vehicle (EV) division. Swadesh Srivastava, Head of the Emerging Mobility Business Unit, said in a post-earnings call with analysts on Wednesday that the company plans to develop a new range of EVs in the next 18-20 months to expand its portfolio and cater to different segments of the electric two-wheeler market, including more affordable or “mainstream” products.

Tata Steel: Television Tata Steel CEO and Managing Director Narendran said that the UK government has provided a counter-package to the steel giant in response to its demand for a financial package to carry out its decarbonisation plans for its Port Talbot facility. The CEO and MD of Tata Steel feels there is a significant difference between what the firm requested and what the British government has delivered. He has yet to reveal any specifics about the government’s offer.

L&T: The Ministry of Defence accepted a request on Wednesday to produce 41 sets of Modular Bridges for the Indian Army’s Corps of Engineers. The action is considered as a boost to PM Modi’s indigenization of defence equipment. The defence ministry referred to it as a game-changing bridge that was designed and developed by the Defence Research and Development Organization (DRDO) and will be manufactured by Larsen & Toubro (L&T), a DRDO-nominated production agency.

NHPC: State-owned hydropower firm NHPC Ltd reported a 12.59% drop in overall net profit to ₹775.99 crore for the December quarter, compared to ₹888 crore the previous year. Total income increased to ₹2,582.76 crore in the quarter ended 31 December, up from ₹2,156.72 crore the previous year. The operating margin fell to 38.28% in Q3 FY23, down from 44.53% in Q3 FY22. In addition, the net profit margin fell to 30.04% in Q3 FY23, from 41.21% the previous quarter. The board of directors of the firm has announced an interim dividend of ₹1.40 per share for the fiscal year 2022-23.

Cummins India: Cummins India announced in a stock market filing that “the Board of Directors in their meeting held on February 08, 2023, have declared an Interim Dividend of Rs.12/- per equity shares on 277,200,000 equity shares (Face Value Rs. 2/- each) for the Financial Year 2022-23. The interim dividend warrants will be distributed by March 6, 2023, and the dividend will be paid on March 8, 2023.” The firm has set February 21, 2023 (Tuesday) as the record date for the payment of the interim dividend (FY 2022-23).

Equitas SFB: Equitas Small Finance Bank announced a 57% increase in net profit to ₹170.11 crore for the quarter ending December 2022 on Wednesday. This compares to a net profit of ₹108.11 crore the previous year. Net interest income (NII), which is the difference between interest earned and interest expenditure, increased 19.7 percent year on year to ₹647.5 crore from ₹540.8 crore (YoY). NIM is unchanged at 9.01 percent. The distribution for the December quarter was ₹4,797 crore, a 68% increase year on year. While total deposits increased by 31% year on year to ₹23,393 crore.

Vishnu Chemicals: Hyderabad-based Vishnu Chemicals is trying to raise up to ₹400 crore through QIP (qualified institutional placement), according to a senior executive with firsthand knowledge of the fundraising efforts. The company’s board of directors is scheduled to meet on Friday to grant the go-ahead. According to the individual stated above, who requested anonymity, the specialty chemical company is trying to raise the cash within the next two quarters and has hired Emkay Financial Services as an advisor for the same.