Stocks to Watch: Adani Enterprises, HUDCO, Maruti Suzuki, Cipla, Canara Bank, and more

Here’s a quick look at stocks likely to be in focus in today’s trade.

Adani Enterprises: Adani Enterprises reported a remarkable 664 percent year-on-year (YoY) increase in consolidated net profit for the September quarter, posting ₹1,742 crore, a substantial jump from ₹228 crore in the previous year’s period. Revenue from operations for the quarter reached ₹22,608 crore, reflecting a 16 percent rise compared to ₹19,546 crore in the corresponding quarter of the previous financial year. Additionally, the company’s board approved a ₹2,000 crore fundraising plan through the issuance of Non-Convertible Debentures (NCDs) in one or more tranches. On a sequential basis, Adani Enterprises’ net profit for Q2FY25 saw a 20 percent increase, up from ₹1,454.50 crore reported in Q1FY25.

Maruti Suzuki: Maruti Suzuki India Ltd. (MSIL) announced a 17 percent decline in standalone net profit for the September quarter, reporting ₹3,069 crore compared to ₹3,716.5 crore in the same period last year. Maruti’s revenue from operations for the quarter amounted to ₹37,203 crore, marking a slight 0.37 percent increase compared to ₹37,062 crore in the year-ago period. During the quarter, Maruti Suzuki sold a total of 541,550 vehicles, comprising 463,834 in the domestic market and 77,716 for export. While domestic sales volumes fell by 3.9 percent, export volumes witnessed a 12.1 percent growth year-on-year.

Cipla: Pharmaceutical major Cipla Ltd. reported a 15 percent growth in consolidated net profit for the quarter ended September 2024, reaching ₹1,303 crore, up from ₹1,131 crore in the same period the previous year. This result exceeded the ET Now poll estimates, which had predicted a net profit of ₹1,218 crore. Cipla’s revenue from operations rose 6 percent YoY to ₹7,051 crore, compared to ₹6,678 crore in the corresponding period of the previous year. The company also saw a 12 percent YoY increase in EBITDA, which stood at ₹1,886 crore for the quarter.

Canara Bank: Public sector lender Canara Bank reported an 11 percent rise in standalone net profit for the September quarter, posting ₹4,015 crore compared to ₹3,606 crore in the same quarter last year. The bank’s interest income for Q2 FY25 reached ₹29,740 crore, representing an 11 percent growth from the ₹26,838 crore earned in the same period of the previous financial year.

Torrent Pharma: Torrent Pharmaceuticals is set to witness a 2.9 percent stake sale by its promoter, valued at approximately ₹3,000 crore via a block deal scheduled for Wednesday. The promoter plans to offer 8.27 million shares at a discount of 6 percent per equity share relative to the current market price, as reported by ET Now. This stake sale includes a greenshoe option for an additional 1.65 lakh shares, accounting for 0.5 percent of the total equity. Kotak Securities and Citigroup are reportedly the bankers involved in the transaction.

HUDCO: The state-owned Housing and Urban Development Corporation (HUDCO) reported a robust 52 percent year-on-year increase in consolidated net profit for the September quarter, reaching ₹689 crore, up from ₹452 crore in the same quarter last year. Revenue from operations saw a 35 percent YoY growth, totaling ₹2,518 crore, compared to ₹1,865 crore in the corresponding period of the previous year. The company’s net interest income (NII) grew by 27 percent YoY to ₹797 crore, up from ₹627 crore in the year-ago period.

Marico: FMCG major Marico Ltd. posted a 20.27 percent increase in consolidated net profit for the September quarter, reporting ₹433 crore, compared to ₹360 crore in the same period last year. The company’s revenue from operations grew by 7.6 percent YoY to ₹2,664 crore during the quarter, up from ₹2,476 crore a year earlier, as per its regulatory filing.

Northern Arc Capital: Non-Banking Financial Company (NBFC) Northern Arc Capital, which was listed on the bourses last month, reported a 24 percent increase in consolidated net profit for the second quarter ended September 2024, with net profit reaching ₹96 crore, compared to ₹79 crore in the previous year’s corresponding quarter. The company’s total income for the quarter stood at ₹585 crore, up from ₹437 crore in the same quarter last year. Northern Arc Capital’s net interest income (NII) for the quarter also saw an increase, rising to ₹288 crore from ₹196 crore reported in the year-ago quarter.

Voltas: Voltas reported a 14.26 percent increase in revenue, reaching ₹2,619 crore compared to ₹2,292 crore in the same period last year. The company’s EBITDA surged by an impressive 131.42 percent to ₹162 crore from ₹70 crore, leading to an EBITDA margin expansion of 313 basis points to 6.18 percent. Net profit saw substantial growth, rising 269.44 percent year-on-year to ₹133 crore, up from ₹36 crore.

Prestige Estates Projects: Prestige recorded a revenue increase of 3.04 percent, totaling ₹2,304 crore against ₹2,236 crore in the year-ago period. EBITDA for the quarter grew by 6.23 percent to ₹630 crore from ₹593 crore, with the EBITDA margin improving by 82 basis points to 27.34 percent. Despite these gains, net profit declined sharply by 74.17 percent to ₹235 crore from ₹910 crore, primarily due to a deferred tax impact of ₹106 crore arising from the removal of indexation benefits on capital gains.

MTAR Technologies: MTAR posted a 13.77 percent revenue growth, reaching ₹190 crore, though this figure fell short of Bloomberg’s estimate of ₹197 crore. EBITDA rose modestly by 1.93 percent to ₹36.8 crore, lower than the estimated ₹43 crore. The EBITDA margin contracted by 224 basis points to 19.36 percent. Net profit for the quarter increased by 25 percent to ₹6.5 crore from ₹5.2 crore, yet it did not meet the anticipated ₹23 crore.

Results Today: Several prominent companies are set to announce their Q2 results on Wednesday, including Larsen & Toubro, Tata Power, Procter & Gamble Hygiene & Health Care, Biocon, Dabur India, Aditya Birla Capital, Vardhman Textiles, IRB Infrastructure Developers, Sterlite Technologies, TTK Prestige, DCM Shriram, Grindwell Norton, Electrosteel Castings, Shalby, TCI Express, Indraprastha Medical Corp., and New India Assurance.