Stocks To Watch: Adani Ports, Hero MotoCorp, Quess Corp, IRCTC, Avenue Supermarts

A traffic signal stands next to the BSE) building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Adani Ports, Hero MotoCorp, Quess Corp, IRCTC, Avenue Supermarts

Asian stocks started the week higher after their U.S. peers chalked fresh records and Treasury yields stabilized after jumping Friday.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, climbed 0.4% at 15,796 as of 8 a.m.

Stocks To Watch

  • Adani Ports: Board to consider raising up to $750 million in USD bonds

  • Bajaj Auto: Omkar Goswami resigns as an independent director of Bajaj Auto and Bajaj Finance

  • Equitas Small Finance Bank: Got RBI nod to apply for amalgamation plan

  • Maruti Suzuki India: Launched Maruti Suzuki Smart Finance, a digital end-to-end online car financing platform.

  • Nocil: The company gave a brief of its performance in its annual report. The lockdowns resulted in sub-optimal operations during the first quarter of the year under review with operating rates falling below 50% than the preceding quarter. The company recorded a turnover of Rs 939 crore, a growth of over 9% over the last year.

  • Quess Corp: Increased its stake in Stellarslog Technovation from 16.12% to 33.33% by investing Rs 3.20 crore

  • Anjani Portland Cement: Purchased additional shares in Bhavya Cements, increasing shareholding in the company to 89.15%.

  • Canara Bank: Launched its annual report and said the outlook for financial year 2021-22 is positive with expectation of economic recovery gaining momentum, particularly in the second half of the year, with broad based normalization of economic activity and continued policy support from the government and the RBI.

  • Wockhardt: Ended the year with profit after tax of Rs 686 crore as compared to a loss of Rs 69 crore in the previous year. Also reduced the net debt to equity ratio to 0.54 from 0.96

  • Federal Bank: Re-appointed Shyam Srinivasan as managing director & CEO of the bank for three years with effect from September 23, 2021.

  • Hero MotoCorp: Ended the financial year with net profit of Rs 2,964 crore, down nearly 18.5%. Exports grew 142% in Africa and Middle-East, with 7.5% growth in overall exports. The company also crossed 100 million units milestone in cumulative production and sales.

  • Apcotex Industries: Appointed Sachin Karwa as the Chief Financial Officer. Karwa will replace Suraj Badale, who will continue to work as DGM – Accounts.

  • IRCTC: To restore Lucknow-New Delhi Tejas Express train service from August 7 for 4 days a week.

  • Container Corporation of India: Q1 total volumes rise 35.4% year-on-year to 9,91,746.

  • Earnings To Watch: Authum Investment and Infrastructure, HFCL, HMT, Steel Strips Wheels

Pledge Share Details

Gayatri Projects: Promoter T. Indira Reddy revoked a pledge of 14.92 lakh shares on July 7.

Who’s Meeting Whom

IRCTC: To meet Madhu Kela, CIO from Cohesion Fund M K Trust on July 14 and Dhawal Mehta of Somerset Capital Management Singapore on July 13

Trading Tweaks

Ex-Date Final Dividend: UCO Bank, Artemis Medicare Services, Rajratan Global Wire, Polycab India, Camlin Fine Sciences, Alkyl Amines Chemicals, Punjab & Sind Bank, Rane (Madras), Dwarikesh Sugar Industries, Bosch, Persistent Systems, Syngene International, Seshasayee Paper and Boards, Thirumalai Chemicals

Price Band Revised From 10% To 5%: 3P Land Holdings, Kingfa Science & Technology (India), Vishal Fabrics

Move Into Short-Term ASM Framework: Sanginita Chemicals, Agro Phos India, IIFL Securities

Move Into Long-Term ASM Framework: Premier Polyfilm, Oswal Agro Mills, Creative Peripherals and Distribution, Nahar Capital and Financial Services

Stocks That May React To Earnings

Avenue Supermarts (DMart)

  • Revenue down 31% at Rs 5031.7 crore vs Rs 7303.1 crore (Bloomberg estimate: Rs 5032.7 crore)

  • Net profit down 74% at Rs 115.13 crore vs Rs 434.95 crore (Bloomberg estimate: Rs 159.7 crore)

  • Ebitda down 64% at Rs 221.21 crore vs Rs 616.61 crore (Bloomberg estimate: Rs 277 crore)

  • Margin at 4.4% vs 8.4% (Bloomberg estimate: 5.5%)

  • Commenting on the performance of the company, Neville Noronha, CEO & Managing Director said Q1FY22 saw a much stronger second wave of Covid-19 restrictions. "We lost significantly more days or had higher restriction on number of hours of store operations compared to the same period last year."

Bhansali Engineering Polymers

  • Revenue down 50% at Rs 232 crore vs Rs 473 crore

  • Net profit down 52% at Rs 77.3 crore vs Rs 163.4 crore

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