Stocks to Watch
Shares in Rakesh Jhunjhunwala’s portfolio: Shares of Jhunjhunwala-backed stocks such as Titan, Tata Motors, Star Health, Metro Brands and others will be in focus after the big bull suddenly disappeared on August 14. According to the latest shareholding scheme, Rakesh Jhunjhunwala and his associates are 32-share public companies with a net worth of over ₹31,904.8 crore as of July 2022.
BCL: The state-owned oil company will invest ₹1.4 lakh crore in petrochemicals, town gas and clean energy over the next five years as it looks to non-oil businesses for expansion.
Max Health: On Tuesday, US private equity firm KKR and Co will sell up to 26% of its stake in Max Healthcare Institute for ₹9,416 crore via block deals. The floor price for the stake sale was set at ₹350 to ₹362 per share, a discount of up to 3.3% on its Friday close.
State Bank of India (SBI): The country’s largest lender raised its marginal cost of funds-based lending rate (MCLR) by 20 basis points (bps) across all tenors from August 15. The decision came after the Reserve Bank raised benchmark policy rates by 50bps earlier this month to tackle headline inflation.
Mahindra and Mahindra: The local automotive major on Monday opened its new center of design excellence, Mahindra Advanced Design Europe (MADE) in the UK, “which will serve as a design home for the company’s EV product portfolio.”
Life Insurance Corporation (LIC) of India: The insurance giant posted a multiple increase in its June quarter net profit to ₹682.89 crore from ₹2.94 crore in the same period last year. On a sequential basis, the state insurer’s net profit fell to ₹2,371 crore in the March 2022 quarter. Total revenue was ₹1,68,881 crore in the first quarter of FY22 from 1 ₹54,153 crore a year ago and ₹2,11,451 crore in the March quarter.
Zee entertainment companies: The media company saw a 48.94% drop in its consolidated net profit to ₹106.60 crore for the June quarter of 2022 from ₹208.78 crore for the April-June period a year ago. Total revenue in the quarter under review was ₹1,879.53 crore compared to ₹1,808.56 crore a year ago.
Oil and Gas Company (CGSB): The oil and gas producer saw its profits triple to ₹15,205.85 crore in the first quarter of FY23 from ₹4,334.75 crore in the same period a year ago. Earnings were boosted by realization of higher prices before the government imposed a tax on windfall profits resulting from a global hike in energy prices.
Future Consumer Ltd (FCL): The crisis-hit company saw its consolidated net loss widen to ₹95.14 crore for the first quarter ended June 30, 2022, from a loss of ₹31.54 crore in the April-June quarter it a year ago. Total revenue fell by 65.12% to ₹109.77 crore in the reporting period from ₹314.73 crore in the same period last year.
MotoCorp Heroes: The country’s largest two-wheeler maker reported a 71% increase in net profit year-on-year (YoY) in the April-June quarter, driven by higher sales and a weak base ‘last year. Pawan Munjal-led company’s net profit rose to ₹625 crore from ₹365.44 crore in the same quarter a year ago, while it fell slightly from ₹627 crore in the March 2022 quarter Operating revenue jumped to ₹83,932.54 crore from ₹5,487.07 crore a year ago.
One97 communications: The company, which operates under the Paytm brand, said its loan distribution business hit an annual rate of ₹25,000 crore in July from ₹24,000 crore last month. The gross value of goods on Paytm soared 82% to ₹1.06 lakh crore in July 2022 from ₹58,000 crore in the same period last year.
Tata Chemicals, Balrampur Chini Mills and Delta Corp: These three companies will be on the F&O ban list on August 16.