Stocks to keep an eye on today: Metro Brands, Hero MotoCorp, Titan, IndiGo, Ambuja, Mankind Pharma, Adani Wilmar, Som Distilleries, Dalmia Bharat Sugar, Sula Vineyards, Adani Total Gas, and others.
SUMMARY
Metro Brands recorded a decline of 11.6% in net profit, amounting to Rs 93.5 crore for the quarter ending in June, compared to Rs 105.78 crore in the same period last year.
Sula Vineyards has been issued a notice by the Maharashtra excise department, demanding Rs 115.8 crore in excise duty.
Som Distilleries has obtained approval from the Rajasthan government to supply its Indian Made Foreign Liquor (IMFL) brands.
On Wednesday, the domestic equity market experienced a decline, with Sensex dropping 361 points to 66,097, and Nifty falling 111 points to 19,622.
Metro Brands is a company or brand that operates in the market.
Metro Brands reported a decrease of 11.6% in net profit, amounting to Rs 93.5 crore for the quarter ending in June, compared to Rs 105.78 crore in the corresponding period of the previous year. The revenue from operations during the same quarter was Rs 582 crore.
Adani Total Gas is a company or entity operating in the market. It is likely associated with the energy or gas sector.
During the June 2023 quarter, Adani Total Gas recorded a 9% increase in net profit. The firm’s net profit for Q1 of this fiscal stood at Rs 150.2 crore, compared to Rs 138.4 crore profit during the quarter ending in June 2022.
Ambuja Cements is a company or brand operating in the market. It is likely associated with the cement industry.
Ambuja Cements’ shares are drawing attention as per a report indicating that the Adani group company has reportedly struck a deal to acquire a controlling stake in the operations of Sanghi Industries. According to a Reuters report citing two sources with direct knowledge, this transaction would significantly strengthen the cement operations of billionaire Gautam Adani’s firm.
Sula Vineyards is a company or brand that operates in the market, likely related to the wine or vineyard industry.
Sula Vineyards has received a notice from the Maharashtra excise department demanding Rs 115.8 crore in excise duty. However, the company has stated that this order will not have any impact on its current business operations.
Dalmia Bharat Sugar is a company or brand that operates in the market, presumably related to the sugar industry.
In the June quarter, Dalmia Bharat Sugar reported a net profit of Rs 61 crore, showing growth from Rs 49.27 crore in the corresponding period of the previous fiscal year. However, the total income for the June quarter declined by 9.50% to Rs 843.04 crore compared to Rs 931.55 crore in the same period last year, as stated by Dalmia Bharat Sugar. The company’s earnings per share (EPS) for the June 2023 quarter were reported as Rs 7.58, an increase from Rs 6.09 for the same period in the previous year.
Som Distilleries has obtained approval from the Rajasthan government for the supply of its Indian Made Foreign Liquor (IMFL) brands.
Today’s earnings will be closely watched as several companies, including Titan, IndiGo, Ambuja, Mankind Pharma, and Adani Wilmar, are set to announce their first-quarter results. Investors and market participants are keen to assess the financial performance and outlook of these companies based on their Q1 earnings reports.
In July, Hero MotoCorp’s total sales dropped to 391,310 units, compared to 445,580 units in July 2022. The company attributed the decline to incessant rains and floods, which caused crop damage in various states and also led to a significant reduction in customer footfalls at the dealerships.
