Stocks to Watch: LIC, Adani Power, Emami, JK Cement, Nykaa, NHPC

Life Insurance Corporation: State-run insurance giant Life Insurance Corporation (LIC) on Friday said its September quarter consolidated net profit after tax (PAT) surged multi-fold to ₹15,952 crore from ₹1,434 crore in the corresponding quarter of the last fiscal year. The insurer recognised a gain due to changes in its accounting policy. In the April to June quarter, the insurance giant had reported a net profit of ₹682.9 crore.

Adani Power: Adani Power on Friday posted a consolidated net profit of ₹696 crore for the September quarter of 2022-23, mainly due to higher one-time income. In the year-ago period, it incurred a net loss of ₹231 crore, a company statement said. Total income was 52% higher at ₹8,446 crore as against ₹5,572 crore in the September quarter of 2021-22.

JK Cement: JK Cement on Saturday reported that its standalone net profit declined by 26.07% to rs 124.8 crore. This is against ₹168.8 crore in the year-ago period, the company said in a regulatory filing. The revenue from operations declined by 16.7% to ₹2,141.8 crore in the quarter under review from ₹329 crore in the previous quarter, JK Cement said in its regulatory filing. Earnings before interest, taxes, depreciation and amortization (EBITDA) was down by 9.8% at ₹296.7 crore from ₹329 crore in the year-ago period.

Emami: The company declared net sales of ₹807.36 crore in Q2FY23 compared to ₹777.1 crore in Q2FY22, representing a YoY growth of 3.9%. The company declared revenue from operations of ₹813.75 crore in Q2FY23 compared to ₹787.12 crore posted in Q2FY22, representing a YoY growth of 3.4%. The company reported an EBITDA of ₹195.38 crore in Q2FY23 compared to ₹277.18 crore posted in Q2FY22, representing a fall of -29.5% YoY. The company has released its Q2 earnings along with a 400% dividend.

Patanjali Foods: Baba Ramdev-backed Patanjali Foods recorded a decline in profitability for the quarter that ended September 30, 2022 (Q2FY23) period. The company garnered a net profit of ₹112.28 crore in Q2FY23 down by 31.65% from a PAT of ₹164.27 crore in Q2FY22. Also, sequentially, its Q2 PAT dipped by a whopping 53.5% from ₹241.25 crore in Q1FY23. On the profitability front, the company witnessed multiple headwinds in the edible oil segment during the quarter.

FSN E-Commerce Ventures: In a bulk deal executed on 11th November 2022, Morgan Stanley Asia (Singapore) has bought 8,213,050 Nykaa shares paying ₹186.40 apiece. This means Morgan Stanley Asia (Singapore) has bought Nykaa shares worth ₹1,53,09,12,520 or ₹153 crore. After hitting a 52-week low of ₹162.50 on Thursday’s session, FSN E-Commerce Ventures Ltd has been continuously attracting buying interest from FIIs.

Godrej Properties: Godrej Properties on Saturday said that it has been declared the highest bidder for two adjacent land parcels in Noida for a total bid value of ₹377 crore. “GPL will develop residential group housing on the land parcels located in Sector 146, Noida. Spread over 12.4 acres, the land parcels will offer approximately 3.2 million square feet of development potential comprising primarily premium residential apartments of varied configurations,” Godrej Properties said in its regulatory filing.

Punjab & Sind Bank: State-owned Punjab & Sind Bank would take a call on raising equity capital through qualified institutional placement (QIP) after taking into account third-quarter numbers and the pace of loan growth, the bank’s managing director Swarup Kumar Saha said. As far as capital adequacy is concerned, the bank is well-capitalised at 15.68% and it can easily take care of business growth this year, he told PTI in an interaction.

Glenmark Pharma: Glenmark Pharmaceuticals on Friday said its profit after tax (PAT) rose marginally to ₹279 crore for the second quarter ended September 30, 2022. The Mumbai-based drug firm had reported a PAT of ₹275 crore in the July-September period of the previous fiscal. Consolidated revenue rose to ₹3,375 crore in the period under review as against ₹3,147 crore in the year-ago quarter, Glenmark Pharma said in a regulatory filing.

NHPC: Riding on strong operating performance, NHPC has reported a 12% jump in standalone net profit. The company said it registered the highest-ever half-yearly standalone profit after tax (PAT) of ₹2,483 crore against ₹2,217 crore standalone PAT in the year-ago period. NHPC said its share in PAT for the current half year is ₹2,575 crore which is 15% higher than the PAT of ₹2,243 crore for the corresponding previous half year.