Stocks to watch: Bharti Airtel, Adani Wilmar, Adani Power, Hero MotoCorp and others

The SGX Nifty suggests a favourable start for the BSE Sensex and NSE Nifty 50. Stocks to watch on Wednesday include Bharti Airtel, Adani Power, Adani Wilmar, and Shree Cement.

The Indian stock market is expected to begin in the green, according to the SGX Nifty on Wednesday. Nifty futures were trading higher on the Singapore Exchange, at 17797. The BSE Sensex plummeted 221 points to 60,286, while the NSE Nifty 50 slid 43 points to 17,722.

Stocks in focus on 8 February, Wednesday


Bharti Airtel: The telecom operator posted a net profit of Rs 1,588 crore in the fiscal third quarter, falling short of analyst projections. However, profit nearly quadrupled year over year, increasing by 91%. It recorded sales of Rs 35,804 crore for the quarter ending December, up 20% year on year. In addition, the business announced a mobile average revenue per user (ARPU) of Rs 193 in India. The combined EBITDA of the telecoms behemoth was Rs 18,600 crore, rising 24.8% year on year and 5% from the preceding quarter. The business also declared Capex of Rs 9,314 crore for the quarter.

Hero MotoCorp reported a 3.6% year-on-year improvement in standalone net profit at Rs 711 crore for the quarter ended December 2022, driven by other income but hampered by poor operating performance. Revenue for the quarter increased by 1.9% year on year to Rs 8,031 crore, despite a 4% fall in sales volumes. EBITDA declined 3.7% year on year to Rs 924 crore, with the margin falling 70 basis points for the quarter. The corporation declared a Rs 65 interim dividend per share.

Adani Green Energy: The firm said that its fiscal third-quarter consolidated net profit increased 110% year on year to Rs 103 crore, with total revenue increasing 53.5% year on year to Rs 2,258 crore. Total costs increased 44% to Rs 2067 crore in the quarter, up from Rs 1,430 in the previous year. Revenue from electricity delivery climbed 39% year on year to Rs 3,695 crore. As of December 2022, run-rate EBITDA was Rs 7,380 crore, with a net debt to run-rate EBITDA ratio of 5.6x. The greenfield commissioning of 1,915 MW is largely driving the increase in sales, EBITDA, and Cash Profit.

Vodafone Idea: The telecom operator has authorised an allocation of over 1,613.31 crore equity shares to the Government of India at an issue price of Rs 10 per equity share, totaling Rs 16,133.18 crore. The government now owns 33.44% of the corporation after issuance of shares. The government requested last week that Vodafone convert the net present value of the interest amount relating to the postponement of spectrum auction instalments and AGR dues into equity shares.

Adani Ports: The Adani group firm announced net profit of Rs 1,315 crore on Tuesday, down 16% year on year, compared to a 25% increase expected for the quarter ending 31 December 2022. The company’s net revenue for the quarter also fell short of expectations. Revenue for the December quarter was Rs 4,786 crore, up 17.5% year on year from Rs 4,071 crore recorded in the same period last year.

PC Jeweller: A consortium of four banks has issued loan recall notifications to the firm, including IDBI Bank, Indian Bank, Bank of India, and Karur Vysya Bank. The legal processes between State Bank of India (lead bank) and the corporation are still ongoing, with the next hearing scheduled for February 28, 2023. Except for three in Delhi (Preet Vihar, Pitampura, and Kingsway Camp), the company’s showrooms are open.

Infosys: Infosys has announced a cooperation with GE Digital to expedite grid modernization in the utilities industry. Both will use a collaborative go-to-market strategy to provide value-added solutions for grid-related goods and services to their new and existing clients.

Aurobindo Pharma: The company’s step-down subsidiary Aurolife Pharma has gained FDA licence to produce and commercialise Diclofenac sodium topical solution. The topical solution of diclofenac sodium is used to treat knee osteoarthritis. According to IQVIA, the product is projected to be released in Q1FY24 and has a market size of roughly $487 million for the 12 months ending December 2022.

Q3 Earnings Today” Today’s third-quarter results include Shree Cement, Adani Power, Adani Wilmar, Cummins India, Escorts Kubota, Dreamfolks Services, Endurance Technologies, Equitas Small Finance Bank, GATI, Gujarat Pipavav Port, Graphite India, HG Infra Engineering, Honeywell Automation India, IRCON International, ITD Cementation India, Minda Corporation, Samvardhana Motherson International, Nara