The top 10 stocks that will be the spotlight are listed below.
Adani Group: The Adani group, which owes over $23 billion in debt to investors and creditors, plans to increase group-level operating profitability by close to 50% to about $91,000 crore over the next two fiscal years. This will assist lower its leverage ratios and assuage investors’ and creditors’ fears. On the condition of anonymity, two persons with direct knowledge of Adani’s strategy said that in recent talks with creditors, Adani officials presented plans to reduce the group’s leverage ratio from 4.2 times at present to 3.1 by the end of FY24, mostly by raising earnings rather than cutting debt.
Reliance Industries: The introduction of Tira, an omnichannel beauty retail platform, by Reliance Industries’ Reliance Retail Ltd. on Wednesday increased competition in India’s market for personal care products. The retailer recently announced the inauguration of the flagship Tira shop at Jio World Drive in Mumbai’s Bandra Kurla Complex. The retailer currently has a presence in the retail of clothes, groceries, luxury, footwear, electronics, and jewellery. According to persons acquainted with the retailer’s intentions, the business may expand the Tira shop format throughout 100 cities in India; formats may differ according on locales.
Tata Steel: Tata Steel released its preliminary production and delivery volumes for the 4QFY2023 and FY2023 periods. Through the elimination of bottlenecks at several locations and the expansion of Neelachal Ispat Nigam Ltd., Tata Steel India produced 19.9 million tonnes of crude steel in 2017, a 4% YoY increase. In 4QFY23, crude steel production increased by 3% QoQ to 5.15 million tonnes. In the final three months of the fiscal year 2022–23, Tata Steel’s output in India increased by 5.1% YoY to 5.15 million tonnes.
Cyient: The Securities and Exchange Board of India (SEBI) has given the go-ahead for Cyient DLM’s proposed initial public offering (IPO), making it one of the top integrated Electronic Manufacturing Services (“EMS”) and solutions providers. Through this public offering, the company hopes to raise roughly 740 crore rupees. This year’s draught prospectus was submitted by the firm on January 10. Promoter of Cyient DLM is listed IT company Cyient.
Britannia Industries: For the fiscal year FY23, the FMCG behemoth has declared an interim dividend of 72 per equity share. The payout amounts to about 7200% in percentage terms. Britannia is one of the leading dividend kings, rewarding its investors handsomely. According to Britannia’s regulatory filing on Tuesday, it “declared an Interim Dividend @ 7200% i.e., Rs. 72/per Equity Share of the face value of Re 1 each for the Financial Year 2022–23.”
One97 Communications: The Paytm-branded digital financial services company saw 40% growth in gross merchandise value on its platform in the three months ending in March 2023, reaching 3.62 lakh crore, the company said on Wednesday. In a regulatory filing, Paytm stated that the total merchant GMV processed through our platform for the quarter was $3.62 Lakh crore, showing a y-o-y rise of 40%. The business had registered a total GMV of $2.59 lakh crore a year prior.
Yes Bank: Yes Bank announced a credit growth of 11.3% at 2.01 lakh crore for the quarter ending in March 2023 on Wednesday. At the end of March 31, 2022, the outstanding credit was 1.81 lakh crore, according to a regulatory filing by Yes Bank. With Certificate of Deposits (CDs) excluded, the lender had a 12.9% increase in deposits. Karnataka Bank, a different private sector institution, reported that total loans increased by 6.1% to 61,326 crore, while deposits increased by 8.69% to 87,362 crore.
RailTel Corporation of India: On Wednesday, the Mini Ratna PSU under the Ministry of Railways announced that it had been awarded a contract by the NIC Centres for the installation of 4 Mbps Point-to-Point Lease Line Connectivity to 19 Immigration Centres across the Nation. National Informatics Centre Services Inc (NICSI), a division of the publicly traded NIC, has given this order. The work order is valid for a year.
Avenue Supermarts: The company that owns the retail chain DMart, Avenue Supermarts Ltd, said on Wednesday that its operating revenue for the three months ending in March 2023 was 10,337 crore. This represents a 20% increase over the $8,606,09 crore in operating revenue that was generated during the same quarter last fiscal. As of the end of March 2023, there were 324 stores overall, according to Radhakishan Damani led Avenue Supermarts’ regulatory filing.
Godrej Consumer Products: Godrej Consumer Products Ltd, a major FMCG company, announced on Wednesday that it anticipates operating profit growth of double digits and consolidated volume increase of mid-single digits for the quarter ending March 2023. In its regulatory filing, the company stated that the growth patterns have been consecutively improving. Godrej Consumer Products stated that it anticipates an increase in profit quality, driven by a recovery in the gross margin and ongoing marketing spending that would result in double-digit EBITDA growth.
