Stocks to watch: Avenue Supermarts, HDFC, Vedanta, South Indian Bank, and others

Stocks to watch today: Tuesday’s trading will centre on shares of companies like South Indian Bank, HDFC, Vedanta, Avenue Supermarts, and others.

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The market began the week on a downbeat tone with the major indices falling more than 1% on October 3, with the exception of pharmaceuticals, where selling pressure was felt across all sectors. The Nifty50 plummeted 207 points to 16,887, while the BSE Sensex fell 638 points to 56,789

Stocks to watch:

South Indian Bank:

The bank released preliminary data for the September FY23 quarter, noting that gross advances increased 17% YoY to Rs 67,981 crore while deposits increased 2% YoY to Rs 88,503 crore.

Housing Development Finance Corporation

In Q2FY23, loans assigned totaled Rs 9,145 crore, up from Rs 7,132 crore during the same period previous year, according to HDFC. The HDFC Bank received every loan that was assigned throughout the quarter. The total amount of gross dividend income for the second quarter was Rs 1,360 crore, while the profit from selling investments was zero.

KEC International

The infrastructure EPC firm has received fresh orders totaling Rs. 1,407 crore from various markets. The Middle East placed orders with the transmission and distribution section, and the railways business obtained a contract for signalling and telecommunications work. Its total order intake for the year is currently at Rs 8,400 crore.

Dilip Buildcon

The Surat Metro Rail Project in Gujarat has got a letter of acceptance (LOA) from the road construction company through its joint venture RBL-DBL. The order in question is for Rs 1,061 crore.

Vedanta

In addition, Zinc India reported its highest-ever second quarter mined metal production at 2.55 lakh tonnes, up 3 percent YoY, driven by better grades and improved mill recoveries. The company said its alumina production at Lanjigarh refinery decreased by 11% YoY to 4.54 lakh tonnes due to scheduled maintenance. Due to the conclusion of debottlenecking operations in Q1FY23, the steel segment’s total saleable production grew by 11% YoY to 3.25 lakh tonnes.

Avenue Supermarts

The D-Mart operator reported standalone revenue for the three months ending in September 2022 at Rs. 10,384.66 crore, up 36% from Rs. 7,649.64 crore during the same period in the previous year. There were 302 stores overall as of September 2022.

Mahindra & Mahindra Financial Services

According to the corporation, the business kept growing with the payment of over Rs 4,080 crore, resulting in an increase of 11% YoY in September 2022, helped by macro tailwinds. A disbursement of roughly Rs 21,300 crore is anticipated for the first half, which resulted in a robust gross asset book of approximately Rs 73,900 crore, up 3% month over month. In comparison to August 2022, when the collection efficiency was 96%, September 2022 had a 98 percent increase in collection efficiency.

Marico

With a three-year CAGR in the high single digits, its India division saw low single-digit volume growth, and its overseas business continued its great performance with double-digit constant currency growth. As a result, its consolidated revenue for the September FY23 quarter increased year over year in the low single digits. A higher effective tax rate will have an even greater influence on net earnings.