“Buzzing Stocks: Bharti Airtel, Hero MotoCorp, Shree Cement and others in news today”

 

Results on February 8:

Shree Cement will be in focus ahead of its December FY23 quarter earnings scheduled to be declared today. Adani Power, Adani Wilmar, Cummins India, Escorts Kubota, Dreamfolks Services, Endurance Technologies, Equitas Small Finance Bank, GATI, Gujarat Pipavav Port, Graphite India, HG Infra Engineering, Honeywell Automation India, IRCON International, ITD Cementation India, Minda Corporation, Samvardhana Motherson International, Narayana Hrudayalaya, Oberoi Realty, Piramal Enterprises, Speciality Restaurants, Symphony, Tracxn Technologies, Trent, and Windlas Biotech are among others scheduled to announce their quarterly earnings data on February 8.

Hero MotoCorp:

The two-wheeler major has recorded a 3.6% year-on-year increase in standalone profit at Rs 711 crore for quarter ended December FY23, led by other income but impacted by weak operating performance. Revenue for the quarter at Rs 8,031 crore grew by 1.9% over a year-ago period, with 4 percent decline in sales volumes. At the operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) fell by 3.7% YoY to Rs 924 crore with margin declining 70 bps for the quarter. The company announed an interim dividend of Rs 65 per share.

Bharti Airtel:

The telecom operator has reported a 26% sequential decline in consolidated profit at Rs 1,588 crore for three-month period ended December FY23, impacted by licence fee provision. Revenue from operations for the quarter grew by 3.7% QoQ to Rs 35,804 crore, with average revenue per user climbing by Rs 3 to Rs 193 for the quarter. On the operating front, EBITDA increased by nearly 5% QoQ to Rs 18,453 crore with margin expansion of 101 bps for the same period.

Adani Green Energy:

The renewable energy arm of the Adani Group has registered a 110% year-on-year increase in consolidated profit at Rs 103 crore for December FY23 quarter despite weak operating performance and exceptional loss, supported by other income and strong topline. Revenue for the quarter at Rs 1,973 crore increased by 41% YoY, while EBITDA fell 18.2% YoY to Rs 853 crore with margin declining 3,127 bps to 43.23% for the same period.

Sobha:

The south-based real estate firm has reported a 48% year-on-year decline in consolidated profit at Rs 31.8 crore for quarter ended December FY23, impacted by weak operating performance. Revenue surged 40% YoY to Rs 868.2 crore for the quarter, with highest ever quarterly sales volume of 1.48 million square feet, up 12% YoY and best average price realization of Rs 9,653 per square feet, up 22% YoY. However, EBITDA fell 41% YoY to Rs 88.8 crore for the quarter with margin 1,393 bps YoY to 10.22% in the same period.

Rail Vikas Nigam:

The company has emerged as the lowest bidder (L1) for provision of automatic block signalling on Madar-Sakhun section (51.13 Kms) of Jaipur division over North Western Railway. The project cost is Rs 69.48 crore and the letter of award (LoA) is still awaited

Aurobindo Pharma:

Step-down subsidiary Aurolife Pharma has received approval from US Food and Drug Administration to manufacture & market the Diclofenac sodium topical solution. Diclofenac sodium topical solution is used in treatment of the pain of osteoarthritis of knee(s). The product is expected to be launched in Q1FY24, and has an estimated market size of around $487 million for 12 months ending December 2022, according to IQVIA.

Infosys:

The IT services major has announced collaboration with GE Digital to accelerate grid transformation for the utilities sector. Both will follow a joint go-to-market approach to deliver value added solutions for grid related products and services, for their new and existing clients.

New Delhi Television:

NDTV has registered a 53.3% year-on-year decline in consolidated profit at Rs 12.91 crore for quarter ended December FY23, with revenue falling 9.4% YoY to Rs 105.4 crore for the quarter. At the operating level, EBITDA was down 41.5% YoY to Rs 22.59 crore and margin plunged 1,180 bps to 21.4% for the quarter. The board of directors have appointed Anup Dutta as the Chief Financial Officer, NDTV Group and key managerial personnel of the company after resignation by Rajneesh Gupta.