Stocks to Monitor: ABFRL, Amara Raja, Tata Steel, Brigade, NBCC, Wockhardt

Stocks to watch on Wednesday, May 29, 2024: The Sensex and Nifty benchmarks are expected to open lower on Wednesday due to negative global cues. The GIFT Nifty futures indicate a lower start, with a gap of 97 points below Nifty 50 futures at 22,840. This morning, the Asia-Pacific markets showed a mixed trend, with Japan's Nikkei 225 falling by 0.32 percent and the broader Topix index slipping by 0.18 percent. South Korea's Kospi was down by 0.79 percent, and the small-cap Kosdaq slipped by 0.76 percent. Australia's S&P/ASX 200 dropped by 0.97 percent. Hong Kong's Hang Seng index futures were trading 1 percent lower at 18,632 levels.

Aditya Birla Fashion and Retail: ABFRL reported a net loss of Rs 266.4 crore for Q4, which was an increase from the previous year's loss of Rs 194.5 crore. The company's revenue rose by 18.3 percent to Rs 3,406.7 crore. EBITDA also increased by 47.1 percent to Rs 283.7 crore, and the EBITDA margin improved to 8.3 percent from 6.7 percent. The company stated that the results are not comparable with previous quarters due to the acquisition of TCNS Clothing and Styleverse Lifestyle.

Amara Raja Energy: The company recorded a 61.4 percent year-over-year increase in net profit, amounting to Rs 229.8 crore for Q4FY24. Additionally, the company's revenue from operations rose by 19.5 percent to Rs 2,908 crore.

Tata Steel: The company is expected to announce a 7.6 percent decrease in revenue from operations to Rs 58,170 crore for Q4FY24. The company’s Q4 EBITDA is projected to decrease by 14 percent to Rs 6,179 crore, and the profit after tax (PAT) is forecasted to fall sharply by 40 percent to Rs 942 crore.

Brigade Enterprises: The company reported a 234.3 percent year-over-year jump in net profit at Rs 210.9 crore for Q4FY24. The company’s revenue from operations increased by 102.04 percent to Rs 1,702.4 crore. The EBITDA stood at Rs 432.8 crore, and the EBITDA margin was 25.4 percent. The company’s total collections stood at Rs 5,915 crore, up 9 percent over FY23.

NBCC (India): The company recorded a 24.6 percent year-over-year increase in net profit, amounting to Rs 141.5 crore for Q4FY24. Revenue from operations surged by 43 percent to Rs 4,025 crore. EBITDA rose to Rs 240.2 crore, with an EBITDA margin of 6 percent.

Wockhardt: The company recorded a net loss of Rs 177 crore in Q4, while its revenue from operations rose by 3.2 percent to Rs 700 crore.

One97 Communications: Gautam Adani, Chairman of Adani Group, is reportedly considering acquiring a stake in One97 Communications, the parent company of Paytm, according to The Times of India. The report suggests that Vijay Shekhar Sharma, Paytm’s founder and CEO, met with Adani in Ahmedabad on Tuesday to discuss the potential deal.

Indian Railway Catering and Tourism Corporation: IRCTC's consolidated net profit for Q4FY24 increased by 2 percent to Rs 284 crore, while the company's revenue from operations surged by 19 percent to Rs 1,155 crore.

Hindalco Industries: Novelis Inc, a US-based subsidiary of Hindalco Industries, aims to achieve a valuation of up to $12.6 billion by offering 45 million shares in its IPO in the United States. The estimated price range for the IPO is between $18 and $21 per share.

Grasim Industries: Birla Group Holdings (BGHPL), a major promoter of Grasim Industries, has increased its stake in the company from 19.10 percent to 23.18 percent.

MedPlus Health Services: The company recorded a 25.6 percent year-over-year increase in net profit, reaching Rs 33.4 crore for Q4FY24. Revenue from operations rose by 19 percent to Rs 1,490.4 crore. EBITDA also increased by 29.4 percent to Rs 105.7 crore, with an EBITDA margin of 7.1 percent.

Reliance Industries: The company is considering which business to take public first, and Reliance Jio Infocomm is the likely candidate. Additionally, as reported by Reuters, the company has signed a one-year deal with Russia's Rosneft to purchase at least 3 million barrels of oil per month in roubles.

Cochin Shipyard: The company announced on Monday that it has secured an additional international order from UK-based North Star Shipping for the construction of hybrid Service Operation Vessels (SOVs). These vessels will be deployed at the Scottish Power Renewables East Anglia THREE offshore windfarm off the Suffolk coast. The contract also includes an option for two more vessels. Earlier this year, North Star had contracted another hybrid SOV with CSL.

PNB Housing Finance: Two shareholders of the housing finance company have been offered a 2.68 percent stake in the company, which is equivalent to 6.96 million shares, as reported by CNBC-TV18. The shareholders are seeking nearly Rs 500 crore through the sale of shares.

ITC: The company's demerger of its hotel business into a separate entity, ITC Hotels, is expected to unlock value for minority shareholders and improve the FMCG major's return ratios, according to reports from four proxy advisory firms.

HDFC Life Insurance Company: Rangarajan BN has resigned as the Chief Risk Officer of HDFC Life Insurance Company in order to pursue opportunities outside of his professional life. His resignation will be effective from July 15, 2024. The company's board has approved the appointment of Khushru Sidhwa as the new Chief Risk Officer, effective from July 16.

Aarti Drugs: Mirik Rajendra Gogri, a member of the promoter group of Aarti Drugs, has divested 468,378 equity shares (equivalent to 0.5 percent of paid-up equity) in the company at an average price of Rs 485.5 per share.

Prudent Corporate Advisory Services: Canara Robeco Mutual Fund, DSP Mutual Fund, and Kotak Mahindra Mutual Fund collectively purchased 22,05,573 equity shares (equivalent to 5.3 percent of the paid-up equity) in Prudent Corporate Advisory Services at an average price of Rs 1,650 per share, valuing the purchase at Rs 363.9 crore.

Aster DM Healthcare: The company reported a net loss of Rs 24 crore in Q4, which is a significant drop from a profit of Rs 170.8 crore in the same period last year. Revenue grew by 20.65 percent to Rs 973.6 crore and EBITDA jumped 28.5 percent to Rs 159.3 crore. The margin expanded by 100 basis points to 16.4 percent.

Dynamatic Technologies: The company's profit surged more than threefold to Rs 57.11 crore YoY. Revenue increased slightly by 0.7 percent to Rs 370.4 crore, and the company recorded an exceptional gain of Rs 44.68 crore.

Greenlam Industries: The company's Q4 net profit declined by 10.9 percent to Rs 40.97 crore, while revenue increased by 16.9 percent to Rs 624.09 crore. The finance cost doubled to Rs 13.38 crore.

Supriya Lifescience: The company's standalone Q4 revenue for March 2024 was reported at Rs 158.18 crore, an 11.18 percent increase from Rs 142.27 crore in March 2023. The quarterly net profit was Rs 36.93 crore, a 3.39 percent decrease from Rs 38.23 crore in March 2023. EBITDA stood at Rs 57.69 crore, marking a 1.19 percent increase from Rs 57.01 crore in March 2023.

Fineotex Chemical: The company's standalone revenues in Q4FY24 were Rs 118.47 crore, which is a 29.47 percent increase year over year from Rs 91.50 crore in March 2023. The quarterly net profit was 32.89 crore, marking a 119.23 percent increase from 15 crore in the previous year. Additionally, the EBITDA was 42.24 crore, up 100.76 percent from 21.04 crore in March 2023.

Hindware Home Innovation: The company's standalone Q4 revenue decreased to Rs 109.16 crore in March 2024, marking a 22.31 percent decrease from Rs 140.50 crore in March 2023. The company experienced a quarterly net loss of 27.87 crore, reflecting a 557.31 percent decrease from 4.24 crore in March 2023. EBITDA was negative at 30.41 crore, down 825.78 percent from 4.19 crore in March 2023.

Coastal Trawlers: The company experienced a standalone Q4 revenue increase to Rs 112.29 crore in March 2024, which is a 51.8 percent rise from Rs 73.97 crore in March 2023. However, the company also reported a quarterly net loss of Rs 5.20 crore, marking a 30.01 percent increase from Rs 7.43 crore in March 2023. EBITDA stood at Rs 1.48 crore, showing a 148.21 percent increase from Rs 3.07 crore in March 2023.

Uflex: The company's standalone Q4 revenue in March 2024 slightly decreased to Rs 1,657.24 crore, down by 0.93 percent from Rs 1,672.76 crore in March 2023. The quarterly net profit was Rs 61.37 crore, showing a 25.79 percent decrease from Rs 82.70 crore in March 2023. The EBITDA was Rs 224.98 crore, down by 3.11 percent from Rs 232.20 crore in March 2023.

TCPL Packaging: The company reported a 20.2 percent year-over-year (YoY) increase in Q4 net profit to Rs 29 crore, and revenue rose by 4.7 percent to Rs 400.5 crore. The board announced a dividend of Rs 22 per share and appointed KK Kanoria as Executive Chairman of the company, effective October 1, 2024. The company plans to establish a greenfield facility in Southern India for manufacturing folding cartons.

Amines and Plasticizers: The company's standalone revenue for Q4 in March 2024 was reported at Rs 177.08 crore, which is a 7.74 percent increase from Rs 164.36 crore in March 2023. The quarterly net profit rose to Rs 12.92 crore, marking a 65.91 percent increase from Rs 7.78 crore in March 2023. Additionally, EBITDA increased to Rs 22.13 crore, up by 56.95 percent from Rs 14.10 crore in March 2023.