Profitsheets

Shares of Tata Motors slipped 4 per cent to Rs 498.55 on the BSE in Tuesday's intra-day trade on profit booking after the company pared its consolidated loss on quarter-on-quarter basis in the September-December 2021 (Q3FY22) as better availability of semiconductors helped Jaguar Land Rover (JLR) ramp up production. At 09:30 am, Tata Motors traded 3 per cent lower at Rs 502, as compared to 1.2 per cent rise in the S&P BSE Sensex. In the past six months, the stock has rallied 71 per cent, as against 12 per cent gain in the benchmark index. The Tata group commercial vehicles company reported a net loss of Rs 1,451 crore in Q3FY22, as compared to net loss of Rs 4,415 crore in the September quarter (Q2FY22). For the year-ago quarter, it had posted a net profit of Rs 2,941 crore. Revenue from operations during the three-month period declined 4 per cent year-on-year (YoY) to Rs 72,229 crore as against Rs 75,653 crore in the corresponding period. Earnings before interest tax and depre...

Union Budget 2022:   The 2022 Union Budget is currently underway. Finance Minister Nirmala Sitharaman in her budget speech has said that the government is aiming to expand the national highway network in the country by 25,000 km. This highway expansion will be carried out in 2022-23. The road network in India has increased substantially in the current fiscal compared to previous years, the Economic Survey 2021-22 said. It said that there has been a consistent increase in the construction of National Highway/roads since 2013-14 with 13,327 km of roads constructed in 2020-21 as compared to 10,237 km in 2019-20, indicating an increase of 30.2 per cent over the previous year. In 2021-22 (till September), 3,824 km of road network were constructed. The extent of road construction per day increased substantially in 2020-21 to 36.5 km per day from 28 km per day in 2019-20, a rise by 30.4 per cent as compared to the previous year. The Survey said that road transport is one of the most cost-...

Gati Shakti National Master Plan, a Rs 100-lakh-crore project for building holistic infrastructure in India, received its first ever outlay of Rs 20,000 crore in the Budget for the financial year 2022-23. "PM Gati Shakti will encompass the seven engines for multi-modal connectivity for the states with speedier implementation of development projects through technology to facilitate faster movement of people and goods through Rs 20,000 crore financed by the government to speed up this project,” Finance Minister Nirmala Sitharaman said while presenting the Union Budget in Parliament on February 1. "PM Gati Shakti is a transformative approach, driven by roads, railways, ports, airports, mass transport, waterways and logistics infrastructure. All seven engines will pull the economy forward in unison," Sitharaman added. The project will expand the national highway network by "25,000 km in 2022-23", the finance minister further noted. Prime Minister Narendra Modi had ...

Shares of fertiliser companies were up in the range of 2-9 percent in the morning trade on Tuesday, ahead of the presentation of the Union Budget for 2022-23. The stocks were trading higher on the expectation that the government will hike the allocation towards fertiliser subsidy. Analysts expect Fertiliser shares subsidy to rise to Rs 1.3 lakh crore for 2022-23 from nearly Rs 80,000 crore in the previous year as the government may aim to lower the burden of higher prices on farmers. Also Read : Economic Survey 2022: GDP growth seen at 9.2 % in FY22 For 2021-22, the Union Budget had allotted nearly Rs 80,000 crore but the revised estimate is likely to touch close to Rs. 1.4 lakh crore due to a surge in the price of fertilisers and input costs. Analysts believe that the government may also hike the fertiliser subsidy to placate farmers anguished by recent events related to the three farm laws, which were later repealed by the Centre. Shares of Deepak Fertilizers, Rashtriya Chemicals, N...

Stocks In the News: Check out the companies  such as BPCL, HPCL, Tata Power Company and others making the biggest headlines before the opening bell Q3 Results on February 1 : Tech Mahindra, Adani Ports and Special Economic Zone, Cholamandalam Investment and Finance Company, Elecon Engineering, Gujarat Ambuja Exports, IFB Industries, Indian Hotels, Indoco Remedies, Jubilant Ingrevia, Kansai Nerolac Paints, Laxmi Organic Industries, Mangalore Chemicals & Fertilizers, Procter & Gamble Hygiene & Health Care, Poonawalla Fincorp, Sona BLW Precision Forgings, Triveni Turbine, TTK Prestige, and VIP Industries will release quarterly earnings on February 1. Auto Stocks : Tata Motors, Maruti Suzuki, Mahindra & Mahindra, Bajaj Auto, TVS Motor Company, Ashok Leyland, Eicher Motors, Escorts, and Hero MotoCorp will release their monthly sales numbers for January 2022. Bharat Petroleum Corporation : The company reported consolidated profit at Rs 2,805 crore in Q3FY22 against Rs ...

The benchmark stocks indices ended higher on January 31, as the Economic Survey pegged FY23 GDP at 8-8.5% on the eve of the Union Budget to be presented by Finance Minister Nirmala Sitharaman. At close, the Sensex was up 813.94 points, or 1.42%, at 58,014.17, and the Nifty was up 237.80 points or 1.39% at 17,339.80. Tata Motors: CMP: Rs 517.50: The scrip jumped 4 percent on January 31. Tata Motors reported a consolidated net loss of Rs 1,516 crore for the quarter ended December as against a net profit of Rs 2,906.5 crore. The Jaguar Land Rover-maker reported a 4.5 percent year-on-year decline in consolidated revenues for the reported quarter to Rs 72,229 crore. Analysts had expected the automaker to report a consolidated net loss of Rs 2,200 crore.  In the previous quarter, the company had reported a consolidated net loss of Rs 4,441.6 crore. Tata Steel Long Products, MMTC: The stocks gained 3 percent and 9 percent respectively after Tata Steel Long Products Ltd (TSLP) was select...

Vedant Fashions, which owns ethnic wear brand Manyavar, will launch its initial public offering (IPO) next week on February 4. This would be the third public offer of this year after AGS Transact Technologies and Adani Wilmar. Here are 10 key things to know about the public issue: IPO Dates The offer will open for subscription on February 4 and the closing date is February 8. Anchor book will open for a day on February 3, 2022.  Price Band The price band of the IPO has been fixed at Rs 824-866 per equity share. Public Issue Size The company is planning to mobilise Rs 3,149.2 crore by offering 3,63,64,838 equity shares, which is entirely an offer for sale by investors and promoters. The offer for sale comprises 1,74,59,392 equity shares by Rhine Holdings, 7,23,014 equity shares by Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF 1, and the remaining 1,81,82,432 equity shares by promoter Ravi Modi Family Trust. Objectives of Issue Vedant Fashions will not receive IPO p...

Drug major Sun Pharma on Monday reported a consolidated net profit of Rs 2,058.80 crore for the December quarter, up 11.13 per cent against a profit of Rs 1,852.48 crore in the same quarter last year. The total revenue from operations came in at Rs 9,863.06 crore, up 11.61 per cent against Rs 8,836.78 crore in the corresponding quarter last year. The company beat analysts' estimates as a poll by ET Now projected profit at Rs 1,720 crore and revenue at Rs 9,635 crore. The board of Directors of the company also announced Rs 7 per share interim dividend. The record date for the same is February 10. The payment of the interim dividend would be made to the eligible shareholders on or before February 22, 2022, the company said. Also Read :  Sun Pharmaceutical: Buy, sell or hold? What should investors do after Q2 results? Operating EBITDA margin of the company on a standalone basis came in at 17.12 per cent during Q3FY22. The same was 20.53 per cent in Q2FY22 and 20.43 per cent in Q3FY21....

Auto major Tata Motors on Monday reported a consolidated net loss of Rs 1,451.05 crore for the December quarter against a profit of Rs 2,941.48 crore in the same quarter last year. The total revenue from operations came in at Rs 72,229.29 crore, down 4.52 per cent against Rs 75,653.79 crore in the corresponding quarter last year. This compares with ET Now poll projection of loss at Rs 1,000 crore and revenue at Rs 72760 crore. The company said sales for its UK-based subsidiary Jaguar Land Rover (JLR) remained constrained by chip shortages, with retail sales of 80,126 vehicles, down 37.6 per cent over Q3 FY21. For Q3, revenue was £4.7 billion, up 22 per cent from Q2 FY22. The chip supply situation is gradually improving with production volumes of 72,184 units up 41 per cent over Q2 FY22 and wholesale of 69,182 units up 8 per cent on Q2 FY22, the company said. EBIT margin was 1.4 per cent, and free cash flow was positive at £164 million in Q3 FY 22, demonstrating the progress JLR made in...

Shares of NIIT surged 8 per cent to Rs 427 in Monday’s intra-day trade, thus extending its two-day rally to 14 per cent on on the BSE after the company’s board approved the composite scheme of arrangement which would result in Corporate Learning Group (CLG) Business and Skills & Careers Group (SNC) Business to be reorganized as separate publicly listed companies. At 10:29 am; NIIT was up 7 per cent, as compared to 1.4 per cent rise in the S&P BSE Sensex. The counter witnessed huge trading volumes with a combined 2.06 million equity shares changing hands on the NSE and BSE. The stock had hit a record high of Rs 507 on January 17, 2022. Through a composite scheme of arrangement, the company would reduce capital in NIIT Learning Systems Limited (NLSL) and cancellation of its entire equity share capital. It would transfer and vesting of CLG Business undertaking from NIIT in to NLSL. Also Read :  Coforge share price rises nearly 7% ahead of US public issue via ADR NLSL will issu...

Telecom operator Bharti Airtel on Monday announced an agreement to acquire about 25% equity stake in Bengaluru-based technology startup Lavelle Networks. The agreement is subject to statutory approvals. "Bharti Airtel acquires about 25 per cent strategic stake in SD-WAN startup Lavelle Networks", the company said in a statement. Financial details about the deal were not disclosed. Lavelle Networks specializes in software-defined Wide Area Network solutions and it serves a range of industry segments. "As more enterprises move to cloud-based applications to serve their customers in a digital-first ecosystem, they require on-demand and reliable network connectivity," the release said. Also Read :  Bharti Airtel surges then pares gains as Google to buy $700 million stake As a result, there is an increased demand for software-defined solutions that have the ability to serve a cloud-based hybrid IT environment. Airtel Business' Network as a Service (NaaS) is a digital...

Agro-chemical firm UPL (United Phosphorous)Ltd on Monday reported 25 per cent growth in consolidated net profit at Rs 1,179 crore for the December quarter of this fiscal. The company's net profit stood at Rs 944 crore in the year-ago period. Revenue from operations was 23.79 per cent higher in the quarter at Rs 11,297 crore, compared to Rs 9,126 crore in the same period of 2020-21. The robust revenue was helped by healthy growth in volumes (+11 percent) across all regions except India  and better product realizations (+13 percent). EBITDA grew 21 percent on-year to Rs2,666 crore as against Rs 2,209 crore in Q3 FY21. "In-house manufacturing with backward integration linkages supported by effective raw material sourcing and overall cost management helped in keeping the EBITDA margins largely intact, despite the higher input costs and a sharp rise in freight charges," the company said in a notice to exchanges. UPL reported 22 percent revenue growth in Latin America, while Eu...

Britannia Industries share price rose 3 percent intraday to Rs 3,629.95 after the company declared its December quarter earnings last week. Britannia Industries on January 28 reported a consolidated net profit of Rs 371 crore for the third quarter ended December 2021, lower by 19 percent from Rs 456 crore a year ago. The company had recorded a post-tax profit of Rs 384 crore in the previous quarter. Consolidated revenue from operations for one of the oldest biscuit makers in the country stood at Rs 3,575 crore, up 13 percent, compared to Rs 3,165 crore reported in the year-ago period. Revenue in the preceding quarter was Rs 3,607 crore. Its other expenses declined marginally by 40 bps on-year to 19.2 percent as percentage of operating revenues, but on a sequential basis, there was an increase of 150 bps. Also Read :  Britannia Industries Ltd Q3 Preview: Profit, Revenue could grow in Double Digits Research house Macquarie has maintained neutral rating on the stock with a target at R...

Union Finance Minister Nirmala Sitharaman tabled Economic Survey 2022 in the Lok Sabha today ahead of the Union Budget 2022 on February 1. The Indian economy is estimated to grow by 9.2 percent in real terms in 2021-22 (as per the First Advance Estimates), after a contraction of 7.3 percent in 2020-21. "Growth in 2022-23 will be supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth, and availability of fiscal space to ramp up capital spending," said the Economic Survey. The year ahead is also well poised for a pick-up in private sector investment with the financial system in a good position to provide support to the revival of the economy. Also Read :  Key highlights of Indian Economic Survey 2020-21 Thus, India’s GDP is projected to grow in real terms by 8.0-8.5 percent in 2022-23. This projection is based on the assumption that there will be no further debilitating pandemic related economic disruption, monso...

Reliance Industries (RIL) share price gained nearly 2 percent intraday to Rs 2,374.35 on January 31 after foreign research firm CLSA upgraded the rating and target price. CLSA has upgraded Reliance Industries’ rating to 'buy' and raised the target price to Rs 2,955 from Rs 2,850. "After a sharp fall, the company is now within 15 percent of our conservative value," the rating agency said. "It’s at a good entry point to play its long-term promise across multiple big India themes." Reliance had on January 21 reported a consolidated profit after tax (PAT) of Rs 18,549 crore for the quarter ended December 2021, up 42 percent from Rs 13,101 crore registered in the corresponding quarter a year ago. The company had reported a profit of Rs 13,680 crore in the September 2021 quarter. Also Read : Reliance Industries slips 7% in 2 days, loses over Rs 1trillion in market cap Consolidated operating revenue (net of GST) for the country’s most valuable company by market-cap...

Shares of Info Edge India rose over 7 percent on January 31 after the company reported robust growth in revenues for the quarter ended December 2021. Info Edge on January 28 posted a 48 percent on-year growth in revenues to Rs 403 crore for the third quarter on the back of strong performance of its recruitment business. The recruitment solutions business reported an 80 percent on-year jump in billings to Rs 375 crore of which Rs 308 crore came from Naukri.com alone. Even Siksha.com, its education solutions business, reported a 51 percent year-on-year growth in sales. “This is the third quarter in a row that has witnessed stellar billing growth and great momentum, particularly in the recruitment business. The sustained focus on growing efficiently and investing for the future is reflected in our swelling billings and cash profits,” said Chintan Thakkar, whole-time director and Chief Financial Officer at Info Edge. Also Read : Stocks In the News : Tata Motors, L&T, Sun Pharma, Brita...

Shares of Payment solutions provider AGS Transact Technologies made a tepid listing on the National Stock Exchange (NSE) and BSE. The stock got listed at ₹176, 0.57% higher on the issue price band of ₹166-175 apiece. Poor listing gains might not have been a complete shock for investors as the weak grey market premium and business nature of the company indicated tepid listing gains. Cash management being a core business of the company in the growing digital world, its financial performance has been on a declining trend in the last three years. Post-listing, the market capitalisation of the company stood at ₹2,118 crore, according to BSE data. The grey market premium of the company’s shares show a little premium of ₹5 from the higher end of the price band. Also Read :  AGS Technologies IPO : Dates, Issue Price, GMP, Subscription, Share Analysis and Allotment The initial public offering (IPO) was open for subscription from January 19 to January 21 and received good response from inves...

Stocks In the News: Check out the companies  such as Tata Motors, L&T, Sun Pharma, Britannia and others  making headlines before the opening bell.  Q3 Results on January 31: More than 100 companies will release their quarterly earnings on January 31 including Tata Motors, BPCL, HPCL, Indian Oil Corporation, UPL, Sun Pharmaceutical Industries, DLF, Aarti Drugs, ADF Foods, Ajanta Pharma, LT Foods, Dwarikesh Sugar Industries, Edelweiss Financial Services, Exide Industries, GIC Housing Finance, Housing Development & Infrastructure, Hester Biosciences, Infibeam Avenues, Jindal Saw, KEC International, KPIT Technologies, Krsnaa Diagnostics, Navin Fluorine International, Satin Creditcare Network, Shipping Corporation of India, Suven Life Sciences, UCO Bank, Venus Remedies, and Voltamp Transformers. L&T: The company recorded lower profit at Rs 2,054.74 crore in Q3FY22 against Rs 2,466.7 crore in Q3FY21, revenue jumped to Rs 39,562.92 crore from Rs 35,596.42 crore Yo...

The benchmark  stocks indices erased morning gains and tanked more than 800 points to close flat on January 28. The Sensex was down 76.71 points, or 0.13%, at 57,200.23, and the Nifty shed 5.50 points, or 0.03%, at 17,104.70. Bharti Airtel : CMP: Rs 368 : The share price ended in the green after the company announced a strategic partnership with technology giant Google. Bharti Airtel will issue 71.2 million shares of the company to Google on a preferential basis at Rs. 734 apiece, a premium of 4 percent to the closing price on January 27. The preferential allotment of equity shares will see Google own a 1.28 percent stake in the country’s second-largest telecom operator, the company said in an exchange filing. Dr Reddy's Labs: CMP: Rs 4,225: The stocks ended in the red even after the generic drugmaker reported a 3,648% surge in net profit to Rs 707 crore in the quarter ended December from a year ago as it benefitted from a steep fall in impairment, amortisation and depreciation c...

Vedanta Ltd on Friday reported a 26.75 percent increase in its consolidated net profit for the December quarter to Rs 5,354 crore from Rs 4,224 crore reported a year ago. The company had posted a net profit of Rs 5,812 crore in the previous quarter. The company attributed the better-than-expected earnings to sustained margins benefitting from operational efficiencies and high commodity prices despite input cost headwinds. Consolidated revenues for the metal and oil and gas major stood at Rs 33,697 crore, up 49.77 percent, compared to Rs 22,498 crore reported in the year-ago period. Revenues in the preceding quarter stood at Rs 30,048 crore. Vedanta's EBITDA was up 42 percent to Rs 10,938 crore primarily supported by improved commodity prices. This was partially offset higher cost of production impacted by input commodity inflation. Its EBITDA margin fell to 37 percent in the quarter from 38 percent a year back and 40 percent in the previous quarter. Also Read : L&T Q3 result | ...

Kotak Mahindra Bank on January 28 reported a 15 percent year-on-year rise in net profit to Rs 2,131 crore for the quarter ended December, which was above analysts' expectations of Rs 2,073 crore. The outperformance on the bottomline was thanks to the reversal of provisions to the tune of Rs 131 crore in the reported quarter, of which Rs 100 crore were made for COVID-19 contingencies. The private sector lender's net interest income, the difference between the interest income the bank earned from its lending activities and the interest it paid to depositors, in the quarter grew 12 percent on-year to Rs 4,334 crore, a tad below the Street's expectation of Rs 4,474.7 crore. “NII momentum expected to improve with focus on revving loan growth, in addition, to support from funding cost tailwinds,” brokerage firm Prabhudas Lilladher said in an earnings preview note. The lender's margins surprised the Street coming in at 4.62 percent for the reported quarter as against an expect...

Larsen & Toubro (L&T) on January 28 reported a 17 percent on-year decline in consolidated net profit to Rs 2,055 crore for the quarter ended December 2021. The decline in the bottomline is largely on account of a higher base in the year-ago quarter which included the sale of commercial property in the realty business and gain on divestment from discontinued operations of the electrical and automation business. The country's largest infrastructure company, however, reported an 11 percent on-year growth in consolidated revenues to Rs 39,563 crore during the quarter in review. "The increase reflects an improving project execution momentum and robust growth in the IT&TS portfolio," the infrastructure giant said in a filing to the bourses. The company bagged new orders worth Rs 50,359 crore in the reported quarter, which surpassed even the most optimistic analyst's estimate of Rs 45,000 crore, but was down 31 percent on-year. Overall, the company said that its ...

The share price of CE Info Systems Ltd, which operates under the brand name MapmyIndia, dropped 11.36 percent to hit a low of Rs 1,271.65 on the BSE after the firm reported lower-than-expected earnings for the December quarter. CE Info Systems reported a consolidated profit of Rs 18.52 crore, down 14 percent from a year-ago period. Revenue fell 11 percent to Rs 43.37 crore. EBITDA margins declined 700 basis points to Rs 35.9 percent year on year. The firm said its board will meet on February 4 to consider and approve majority stake investment in an loT and logistics SaaS tech company. The firm will also consider an interim dividend for fiscal year 2022. At 1 pm, the scrip was trading at Rs 1,326, down 8 percent from previous close, on the BSE. Also Read : Axis Bank Q3 Results : Net profit zooms 224% to Rs 3,614 crore, NII rises 17% The firm said sales of automotive OEMs were hit due to a shortage of semiconductors, which impacted the firm. The firm said that as the supply chains recove...

India’s largest infrastructure company Larsen & Toubro (L&T )is expected to report a 3.2 percent on-year decline in consolidated net profit to Rs 2,185 crore for the quarter ended December 2021, according to an average of estimates from five brokerages The company is, however, likely to report an 11.5 percent year-on-year growth in consolidated revenues to Rs 39,687 crore for the December quarter, the poll showed. The quarter ended December was strong for L&T in terms of order inflows with brokerages estimating that the company won new orders worth Rs 45,000-50,000 crore. That said, the topline growth of the company will be driven by the core engineering and construction businesses where analysts expect 12 percent on-year growth due to improvement in construction activity in the reporting quarter. Construction activity in the December quarter improved sharply due to the near-complete re-opening of the economy as the second wave of the coronavirus pandemic abated and the vac...

Generic drug maker Dr Reddy’s Laboratories on Friday, January 28, reported a 3,648% surge in net profit to Rs 707 crore in the quarter ended December from a year ago as it benefitted from a steep fall in impairment, amortisation and depreciation charges. Profit after tax in the third quarter of the financial year rose from Rs. 19.8 crore in the same period the previous year. Revenue increased 8% from a year ago to Rs. 5,320 crore, the Hyderabad-based company said. On a sequential basis, profit declined 29 percent from Rs 992 crore in the three months ended September. “We delivered a steady performance in Q3 with healthy EBITDA and strong cash generation while continuing to invest in building a pipeline of products across businesses,” said co-chairman and managing director GV Prasad. EBITDA is short for earnings before interest, tax, depreciation and amortisation, a measure of corporate profitability. Impairment charges dropped from Rs 597.2 crore in the year-ago quarter to Rs 4.7 crore...

LIC Housing Finance share price jumped over 13 percent in the morning session on January 28, a day after the company declared its December quarter results. The mortgage lender reported a 6 percent increase in profit after tax at Rs 767.33 crore for the quarter ended December 2021, aided by higher collections and drop in provisions. It had reported a profit after tax of Rs 727.04 crore in the same period of the previous fiscal. "The income levels were more or less maintained. Our collections were good during the three months of the quarter. Recovery also picked up across all the regions. "Even the provisions were less in the quarter because of the provisions we had made earlier," the company's Managing Director and CEO Y Viswanatha Gowd said. Also Read :  LIC Housing Finance shares trade lower after 69% plunge in Q2 profit The lender reported better growth in the quarter due to higher disbursements during the festive season. The LIC Housing Finance shares was trading ...

Dr Reddy’s Laboratories, one of India’s top drugmakers with strong overseas play, is expected to report a healthy year-on-year growth in the domestic formulations business when it reports its third-quarter results on January 28. Strong traction in chronic therapies and the addition of sales from Wockhardt’s portfolio would drive the growth, experts said. The Hyderabad-based firm’s main markets of the US and Canada are also expected to grow in the mid-teens. The company is expected to report a consolidated net profit of Rs 780–780 crore for the quarter, up 22-25 percent from the year-ago period. On a sequential basis, the net profit is expected to decline 18-22 percent. Brokerages expect the company to report a 10-15 percent year-on-year growth in consolidated revenue for the quarter at Rs 5,400–5,600 crore. On a sequential basis, the revenues may slip 3–6 percent. The company reported a consolidated profit of Rs 19.8 crore (adjusting for extra ordinaries of Rs 597 crore, the adjusted p...

Shares of Bharti Airtel jumped as much as 6 percent in trade on January 28 after the company announced a strategic partnership with US technology giant Google. However, they pared most of the gains to trade 0.7 percent higher at Rs. 711.8 on the National Stock Exchange at 09:34 AM. Bharti Airtel will issue 71.2 million shares of the company to Google on a preferential basis at Rs. 734 apiece, which is a premium of 4 percent to the closing price on January 27. The preferential allotment of equity shares will see Google own a 1.28 percent stake in the country’s second-largest telecom operator, the company said in an exchange filing. Besides the near $700-million stake purchase, Google will also invest up to $300 million towards implementing various commercial agreements which will include investments in scaling Airtel’s offerings. “As a part of its first commercial agreement, Airtel and Google will work together to build on Airtel’s extensive offerings that covers a range of Android-enab...