India Daybook – Stocks in News

*P&G:* Net profit up 36.5% Rs 210.7 cr, Revenue up 8.9% at Rs 1,138.4 cr YoY 

*TVS Motors:* Net profit at Rs 536.6 cr vs poll Rs 520.0 cr, Revenue at Rs 8144.0 cr vs poll Rs 8184.0 cr YoY 

*DCX System:* Net profit up 49% at Rs 20.0 cr, Revenue up 78% at Rs 309.0 cr YoY 

*Vesuvius:* Net profit at Rs 60 cr vs Rs 36.0 cr, Revenue up at Rs 413.0 cr vs Rs 352.0 cr YoY 

 *Vaibhav Global:* Net profit at Rs 29.4 cr vs Rs 22.9 cr, Revenue up at Rs 700.0 cr vs Rs 646.0 cr YoY 

*De Nora:* Net profit at Rs 6.4 cr vs Rs 1.6 cr, Revenue up at Rs 19.1 cr vs Rs 14.4 cr YoY 

*Nelcast:* Net profit at Rs 16.6 cr vs Rs 12.1 cr, Revenue up at Rs 358.0 cr vs Rs 329.0 cr YoY 

*Mangalore Chem:* Net profit at Rs 67.0 cr vs loss Rs 32.2 cr, Revenue up at Rs 141.0 cr vs Rs 283.0 cr YoY 

*SIS:* Net profit at Rs 75.3 cr vs Rs 67.4 cr, Revenue up at Rs 3074.0 cr vs Rs 2768.0 cr YoY 

*Spandana:* Net profit at Rs 116 cr vs Rs 49.5 cr, Revenue at Rs 584.0 cr vs Rs 281.0 cr YoY 

*Tata Motors:* Arbitral tribunal rules in favour of company and Tribunal asked West Bengal Industrial Development to pay Tata Motors Rs 766 cr + interest at 11% 

*Chemplast Sanmar:* Company's chemicals division gets LoI to manufacture pipeline Active Ingredient. 

*Bajaj Hindusthan:* Company gets Rs 1,361 crore order toward cane payment arrears from Uttar Pradesh Power Corp 

*Triveni Eng:* Net profit down 97.9% at Rs 29.1 cr vs Rs 1,388 cr, Revenue up 9.9% at Rs 1,617.4 cr vs Rs 1,471.6 cr (YoY) 

 *GMR Airports:* Net loss of Rs 190.4 cr vs loss of Rs 197.1 cr, Revenue up 30.3% at Rs 2,063.5 cr vs Rs 1,583.6 cr YoY 

*Castrol:* Net profit up 3.8 at Rs 194.4 cr Vs Rs 187.2 cr, Revenue up 5.5% at Rs 1,183 cr Vs Rs 1,121 cr (YoY) *Sterling Tools:* Net profit down 24.7% at Rs 12.5 Cr vs Rs 17 cr, Revenue up 17.7% at Rs 210.2 Cr Vs Rs 178.6 cr (YoY) 

*DLF:* Net profit up 30.6% at Rs 622.8 cr vs Rs 477 cr, Revenue up 3.5% At Rs 1,347.7 Cr Vs Rs 1,302.3 cr (YoY) 

*APL Apollo:* Net profit up 35% at Rs 203.0 cr, Revenue up 17% at Rs 4630.0 cr YoY 

*LG Balakrishnan:* Net profit up 12.4% at Rs 75.5 cr vs Rs 67 cr, Revenue up 3.8% at Rs 600 cr vs Rs 578 cr (YoY) 

*Rainbow:* Net profit at Rs 62.9 cr vs Rs 61.1 cr, Revenue at Rs 333 cr vs Rs 313 cr YoY 

*Marico:* Net profit at Rs 360.0 cr vs poll Rs 346.0 cr, Revenue at Rs 2476.0 cr vs poll Rs 2464.0 cr YoY 

*DCM Shriram:* Company to set up sugar plant at Loni, Uttar Pradesh. 

*Colgate:* Company gets Transfer Pricing Order from the Income Tax Authority for AY22; income Tax liability of Rs 170 Cr 

 *DCM Shriram:* Net profit down 75% at Rs 32.0 cr, Revenue down 2% at Rs 2708.0 cr YoY 

*Fine Organics:* Net profit down 49% at Rs 103.0 cr, Revenue down 41% at Rs 540.0 cr YoY 

*Ramco Systems:* Net loss at Rs 145.8 cr vs Rs 46.8 cr, Revenue down 9.1% at Rs 126.8 cr vs Rs 139.5 cr (YoY) 

*Siyaram Silk:* Net profit of Rs 61.0 cr vs profit of Rs 80.0 cr, Revenue down at Rs 586.0 cr vs Rs 636.0 cr YoY

Bank of India

The public sector lender has revised its marginal cost of fund-based lending rate (MCLR) with effect from November 1 in terms of the pricing policy approved by the Board. The overnight MCLR remained unchanged at 7.95 percent, but over a one- to three-year period, the MCLR has increased by 5 bps.

APL Apollo Tubes

he structural steel tubing company has recorded a 35 percent year-on-year growth in profit at Rs 202.9 crore for the July–September period of FY24, driven by healthy operating profit. Revenue from operations grew by 16.65 percent to Rs 4,630 crore compared to the corresponding period last fiscal.

Spandana Sphoorty Financial

The microfinance lender has recorded a massive 127 percent on-year growth in net profit at Rs 125.2 crore for the quarter ended September FY24. Revenue from operations grew sharply by 105 percent YoY to Rs 610.3 crore, with AUM rising 69 percent to Rs 9,784 crore and disbursement growing 81 percent to Rs 2,513 crore for the quarter.

Castrol India:

The automotive and industrial lubricant manufacturing company has reported a 3.9 percent on-year increase in profit at Rs 194.4 crore for the quarter ended September 2023 (Q3CY23) with a decline in EBITDA margin. Revenue from operations grew by 5.5 percent to Rs 1,183 crore compared to the year-ago period.

DLF

The real estate major has recorded a 30.6 percent on-year growth in consolidated profit at Rs 622.8 crore for the quarter ended September FY24, despite muted topline, partly supported by EBITDA margin. Consolidated revenue from operations increased by 3.5 percent year-on-year to Rs 1,347.7 crore for the quarter.

TVS Motor

he two-and-three-wheeler company has recorded standalone profit at Rs 536.55 crore for the quarter ended September FY24, rising 31.7 percent over a year-ago period. Revenue from operations increased by 12.8 percent YoY to Rs 8,145 crore during the quarter, with sales volume rising 5 percent YoY to 10.74 lakh units. EBITDA increased by 22 percent year over year to Rs 900 crore, with a margin expansion of 80 basis points to 11 percent during the same period.

Procter & Gamble

he FMCG company has reported a 36 percent on-year growth in net profit at Rs 211 crore for the quarter ended September FY24 (Q1 FY24), led by acceleration of volume growth coupled with product price mix and productivity. Revenue from operations increased by 9 percent YoY to Rs 1,138 crore, driven by superior retail execution and an integrated growth strategy.

Colgate Palmolive:

he company received a transfer pricing order of Rs 170 crore from the Income Tax Authority for AY 2021–22. It will make an application before the Dispute Resolution Panel.

Bajaj Hindusthan Sugar

The company has received Rs 1,361 crore in the respective escrow account maintained exclusively for cane price payments for each of its 14 sugar units from Uttar Pradesh Power Corporation. The amount is paid to the cane growers towards the cane payment arrears for the sugar season 2022–23.

PSP Projects

The company bagged work orders worth Rs 200.25 crore in Gujarat. The total order inflow for FY24 amounts to Rs 958.63 crore.

DCM Shriram

The company will set up a sugar plant in Loni, Uttar Pradesh, to increase capacity to 9,400 TCD from 7,300 TCD.

Filatex India

Board-approved expansion project for manufacturing recycling ships with a capacity of 20,000 TPA from polyester and textile waste. The project is to be executed by a company or subsidiary at an estimated cost of Rs 150 crore.

Power Grid Corp:

The company acquired Beawar Dausa Transmission via tariff-based competitive bidding for an aggregate value of nearly Rs 21.37 crore, subject to adjustment.

Tata Motors:

The carmaker said an arbitration panel has ruled in its favour to recover Rs 766 crore with interest from the West Bengal Industrial Development Corp. for the Singur-Nano project that the company was forced to scrap.

Trident Aims for 3x Growth in Home Textiles by 2026

1. *Market Focus*: Towel-to-rugs maker Trident targets Rs 1,000 crore turnover by 2026 for its home textile brand MyTrident, focusing on India's resilient domestic market amid weaker global demand. 2. *Trend Shift*: Trident sees potential among the younger generation seeking affordable home furnishings, expecting a shift from unorganized to organized markets similar to the apparel industry. 4. *Strategies*: The company plans to expand retail presence, invest in marketing, and appoint Kareena Kapoor Khan as brand ambassador. It aims to double exclusive stores, allocate Rs 100 crore for marketing, and invest in capacity expansion and modernization.

India Daybook – Stocks in News

*Welspun Enterprises:* Company acquires remaining 50.10% stake in Michigan Engineers (Positive) *Union Bank:* Board approves raising up to ₹5,000 cr via Qualified Institutional Placement, floor price at ₹91.10/sh. (Positive) *Tata Power:* Renewable Energy signs PPA for 9 MWp on campus solar plant with Tata Motors Limited for Pantnagar plant in Uttarakhand (Positive) *Adani Ent:* Promoter has raised stake to 69.87% from 67.65%, acquired 2.22% from August 7-18 (Positive) *Sula Vineyards:* Company to concentrate on vineyards outside Bengaluru (Positive) *Lemon Tree:* Company has signed license agreements for two properties in Bhubaneswar and Kasauli (Positive) *Brigade:* Company has entered into a sale deed for acquiring 6.54 acres of land parcel in Chennai. (Positive) *RITES:* Company signed a MoU with NHPC Limited to collaborate on comprehensive Consultancy services for Rail Infrastructure facilities (Positive) *BHEL:* Company has received an order worth of Rs 4000 crore from Mahan Energen, a unit of Adani Power (Positive) *BLS International:* BLS International FZE is in process to subscribe 100% share capital of Saudi Arabia-based BLS International Travel & Tourism (Positive) *Glenmark:* USA reaches antitrust settlement with US Department of Justice, Antitrust Division (DOJ) (Neutral) *Adani Power:* Company targets 21,110 MW thermal capacity by fiscal 2029. (Neutral) *Adani Energy Solutions:* To meet investors on Aug 23, Aug 30: Agencies. (Neutral) *Shriram Properties:* Omega TC Sabre Holdings sold 18 lakh shares at Rs 75.43 apiece. (Neutral) *Sanghi Industries:* Ambuja Cements has made an open offer to acquire a 26% stake for Rs 767.16 crore. The offer opens on Sept. 29 and closes on Oct. 13. (Neutral)

Natco Pharma

Natco Pharma’s consolidated net profit increased 31 per cent to Rs. 420 crore in the first quarter ended June 30, 2023 against Rs. 320 crore in the corresponding quarter of the previous financial year I want to say we’ll go past Rs. 1,000 crore. But how much more than Rs. 1,000 crore, depends on how the market plays out. So that’s a little difficult to guess. I think Rs. 1,000 crore to Rs 1,200 crore range is my expectation,’‘ he said in the first quarter earnings call. The Hyderabad-based company is also expecting its newly-started agro chemicals division to register further growth this year. It is targeting a revenue of Rs. 50 crore to Rs. 200 crore in the current financial year. “The season just started. I would say we have gone from Rs. 1 crore s to Rs. 45 crore. It’s a fairly good run.’‘ Nannapaneni said. Natco is currently running promotional advertisements in Telangana for its agri products and also plans to take up a similar campaign in Maharashtra soon. We are filing our agro portfolio outside India. So the export business might take two to three years from now. But overall, I think my expectation is that the business should grow to around Rs. 400 crore to Rs. 500 crore in the next three to four years. And it will be a good solid business and contributing solidly for our both bottom line and top line,’‘ the CEO said. Natco is also witnessing organic business growth in Chlorantraniliprole (CTPR) in the domestic market is doing registration outside India as well. It had already filed the product in Brazil. Natco Pharma’s consolidated net profit increased 31 per cent to Rs. 420 crore in the first quarter ended June 30, 2023 against Rs. 320 crore in the corresponding quarter of the previous financial year on 26.3 per cent growth in total revenue at Rs. 1,160 crore. Major drivers of business during the quarter were from formulation exports, strong growth in domestic business of both pharma and agro, and steady sales from subsidiaries.

TVS Supply Chain Solutions

The TVS Mobility Group company will make its debut on the stock exchanges on Aug. 23. The IPO was subscribed 55% on day 1, 1.03 times on day two and 2.78 times on day three.

India Daybook – Stocks in News

*Engineers India:* Company gets an order worth Rs 472 cr from ONGC (Positive) *Honeywell:* CEO Vimal Kapur sees India business doubling in next 5 years (Positive) *JSW Steel:* Company emerges as preferred bidder of mining lease for iron ore mineral in two blocks (Positive) *Ahluwalia:* Company gets order worth Rs 426.57 crore (Positive) *HFCL:* Company bags order worth approximately Rs 81 crore from Delhi Metro Rail Corporation (Positive) *Greaves:* Electric Mobility enters into an agreement with Bike Bazaar Finance to provide flexible financing options (Positive) *Go Fashion:* ICICI Prudential Life, BNP Paribas, Kuwait Investment Authority Fund, and Societe Generale have bought total 24.44 lakh equity shares (Positive) *Balrampur Chini:* Europe-based financial services group Societe Generale has picked half a percent stake (Positive) *Man Infraconstruction:* Societe Generale has also bought 39.31 lakh shares or 1.06 percent stake (Positive) *Usha Martin:* Motilal Oswal Mutual Fund has bought 18.5 lakh shares (Positive) *Tejas Networks:* Company has deployed its TJ1400 family of carrier-class FTTx and packet switching network solutions. (Positive) *Caplin Point:* Company has received approval from USFDA for cisatracurium besylate injection. (Positive) *Tata Motors:* Jaguar Land Rover plans an annual investment of 3 billion pounds while targeting revenue of over 30 billion pounds by FY26 (Positive) *RK Forging:* Sets New Company ‘Ramkrishna Titagarh Rail Wheels Limited’ Alongwith Titagarh Rail Systems. (Positive) *Inox Wind:* Board members have approved the merger of Inox Wind Energy into the company (Neutral) *Punjab & Sind Bank:* The bank has received board approval for raising capital up to Rs 750 crore through the issuance of Basel-III compliant additional Tier-1 bonds (Neutral) *Jyoti Structures:* Follis Advisory LLP has sold 1.33 crore shares in the construction company (Negative) *ZEE ENT:* SEBI has restrained Essel Group Chairman Subhash Chandra Goenka and Zee Entertainment head Punit Goenka from holding any key managerial position for 1 year. (Negative)