Stocks to watch: M&M, Nykaa, SAIL, Sun Pharma, NALCO, Oil India and more

Today’s stocks to watch: SAIL, Nykaa, Power Finance Corporation, Gujarat Gas, Castrol India, and Campus Activewear will release third-quarter fiscal year (Q3FY23) results.

Domestic markets are expected to open on a sour note on Monday, ahead of critical inflation data and amid a gloomy global mood.

The SGX Nifty was trading at 17,829 points as of 7:15 a.m., down about 50 points.


Globally, US market futures were downbeat this morning, with Dow Jones futures, NASDAQ futures, and S&P 500 futures falling up to 0.6%.

Asia-Pacific markets slumped in lockstep as investors await macroeconomic data this week.

Furthermore, stock movement in Adani Group firms, currency, and foreign money flow activity would all have an impact on investor sentiment.

Earnings today: Earnings will be reported today by SAIL, Nykaa, Power Finance Corporation, Gujarat Gas, Castrol India, Campus Activewear, GR Infraprojects, Borosil Renewables, and Zee Entertainment, among others.

M&M: By 2024, the manufacturer expects to launch its first electric vehicle from its Zaheerabad factory in Telangana. According to the management, the production facility will be used for new product development and the creation of new electric cars. The factory will produce both e-autos and e-Jeetos.

Sun Pharma: Due to failed disintegration tests, the drugmaker recalled over 34,000 bottles of generic medicine intended to treat high blood pressure in the US market. The batch was manufactured in the company’s Halol-based manufacturing plant in Gujarat. The faulty batch was later distributed in the market by the company’s US subsidiary.

Tata Steel: According to Managing Director and CEO TV Narendran, the merger of seven subsidiary firms with Tata Steel is likely to be completed in the fiscal year 2023–24. Previously, the board authorised a plan to integrate subsidiaries into itself in order to maximise synergies, increase efficiency, and cut expenses.

NALCO: The business reported a net profit of Rs 284 crore in Q3 FY23, up from Rs 170 crore the previous year. Despite robust production growth, profit margins were impacted by reduced sales volume, increased input prices, and a tough worldwide climate. However, management anticipates that the situation will improve in Q4 FY23 as prices firm up.

Glenmark Pharma: The company’s consolidated profit after tax increased by 21.3 percent to Rs 290.8 crore in Q3FY23 from Rs 239.8 crore in Q3FY22. Consolidated sales increased 9.2% to Rs 3,463.9 crore during the quarter. According to the corporation, secondary sales in India have continued to rise sharply.

Brigade Enterprises: Sales bookings surged 48% to Rs 1,009.7 crore in Q3 FY23, driven by better volumes and price realisation amid robust housing demand. Meanwhile, the average sales realisation increased 5% to Rs 6,590 per square foot in Q3 FY23.

Oil India: On the basis of higher oil and natural gas prices, the state-owned corporation announced its highest-ever quarterly net profit of Rs 1,746.10 crore in Q3FY23, up from Rs 1,244.90 crore in Q3FY22. The revenue climbed by 27% to Rs 5,981.63 crore. The board also declared a second interim dividend of 10 rupees per share.

Inox Wind: Due to greater expenditures, the company’s overall net loss increased to Rs 287.86 crore in Q3 FY23. Meanwhile, total costs jumped to Rs 522.31 crore in Q3 FY23 from Rs 283.65 crore the previous year.

Sundaram Finance: Sundaram Home Finance, the company’s wholly-owned subsidiary, has set a target of disbursing over Rs 10 crore in the small business loan market. The management stated that because they have received a great response from the sites that have been introduced thus far, they want to boost their payouts by the end of this year.

F&O ban: Ambuja Cements and Indiabulls Housing Finance were banned in the F&O ban period on Monday, February 13.