Stocks to Watch: Adani Enterprises, Bajaj Finance, Maruti Suzuki, Tata Motors | Mint – Mint

Adani Enterprises: The ₹20,000 crore follow-on public offer of the Adani group’s flagship Adani Enterprises opens today and will close on 31 January. The price band has been set at ₹3,112-3,276 per share. On Wednesday, the company saw a clutch of foreign and domestic investors buy shares worth almost ₹6,000 crore as part of the anchor book allocation.

Bajaj Finance: The non-banking finance company will report its fiscal third quarter results on Friday, with the market largely expecting the financier to report healthy profit led by improved net interest income. Net interest margin, however, may be subdued due to rising funding.

Maruti Suzuki: Pending orders with India’s largest carmaker Maruti Suzuki have jumped to around 4.05 lakh units this month on steady bookings. Newly introduced SUVs Jimny and Fronx also added to the numbers. The bookings for Jimny have crossed 11,000 units, while that of Fronx is around 4,000 units. Compared to January 2022, the inquiry is higher by 28% and bookings by 16% in the same month this year.

Tata Motors: Surpassed Street expectations as the parent of Jaguar Land Rover (JLR) swung to its first quarterly net profit in two years. The Mumbai-based automaker posted a consolidated net profit of ₹2,597.71 crore in the three months ended 31 December, compared with a loss of ₹1,516.14 crore a year earlier. Analysts polled by Bloomberg had estimated a ₹1,060 crore net profit for the quarter.

Vedanta Ltd: Mining major Vedanta will announce its December quarter earnings on Friday. The Anil Agarwal-backed company will also declare a fourth interim dividend for FY23 for which it has already fixed the record date. Kotak Institutional Equities expects a 41% YoY and 11.5% QoQ drop in Vedanta’s Ebitda due to weaker commodity prices across segments, lower benefit of hedges unlike the previous quarter, and weak demand.

Vodafone Idea: The board of the debt-laden Vodafone Idea will meet on Tuesday to discuss a proposal to issue ₹1,600 crore debentures to mobile tower vendor ATC Telecom Infrastructure. Vodafone Idea and ATC had agreed to extend the last date to issue optionally convertible debentures till 28 February after the shareholder’s approval to issue the debentures lapsed in December.

DLF Ltd: The realty major reported a 45% growth in sales bookings to ₹6,599 crore during April-December on better demand and is on track to achieve its annual sales guidance of ₹8,000 crore. DLF, the country’s largest realty firm in terms of market capitalisation, reported a 37% increase in its consolidated net profit at ₹519.21 crore for the quarter ended December. 

LTIMindtree: The IT services provider has partnered with Duck Creek Technologies, and Microsoft to build a cloud migration solution for insurers. The solution will enable insurers to migrate their on-premises core systems to the cloud in a quick and efficient manner.

Dr Reddy’s Laboratories: The pharma company reported a 77% year-on-year growth in consolidated profit at ₹1,247 crore for quarter ended December, driven by strong US business. Consolidated revenue from operations stood at ₹6,770 crore, up 27.3% on year. Ebitda surged 55% YoY to ₹1,966 crore with 5 percentage points expansion in margin at 29% for the quarter.

NMDC: Tata Steel, Jindal Steel and Power, JSW Steel, Adani Group and Vedanta Group are likely to bid for the government’s majority stake in NMDC Steel Ltd, a steel plant separated from India’s largest iron ore producer. The ₹20,000 crore plant, with a capacity to produce 3 million tonnes per annum, is likely to be commissioned by the end of March.