Stocks To Watch: IREDA, ESAB India, LIC, Zomato, BHEL & More

Popular stocks like LIC, Zomato, Ircon International, Torrent Power, and BHEL are among the top 10 stocks that market observers are likely to be keeping an eye on this Friday, February 9.

Apollo Hospitals

Compared to a net profit of Rs 153.5 crore during the same time last year, Apollo Hospitals Enterprises recorded a staggering 60% rise in its consolidated net profit to Rs 245 crore in the quarter ending in December of FY24. The total revenue from operations of Apollo Hospitals climbed by 13.8% YoY to Rs 4850.6 crore in Q3 FY24 from Rs 4263.6 crore in Q3 FY23. The operator of the hospital network declared on Thursday that its shareholders will receive an interim dividend of Rs 6/-per share. February 20 has been set as the record date for the interim dividend payment. The eligible equity shareholders would get the interim dividend by March 6th.

LIC

During the December quarter of FY2024, the Life Insurance Corporation of India (LIC) experienced a 49% year-on-year rise in net profit, reaching Rs 9,444.4 crore as opposed to Rs 6,334.2 crore during the same time the previous year. The net premium income of the largest insurer in India increased by 4.6% to Rs 1.17 trillion in Q3 FY24 from Rs 1.11 trillion in Q3FY23. Furthermore, LIC's net income from investments increased from Rs 84,869 crore in Q3FY2023 to Rs 95,266.8 crore in the December 2023 quarter, a 12% year-on-year increase. The interim dividend of Rs 4 per share for FY24 has been recommended by the board of the firm, and the record date was set for February 21, 2024.

Ircon International

The firm said on Thursday that its total income increased by 24.4% year on year to Rs. 3,011.9 crore in Q3FY24 from Rs. 2,421.9 crore in Q3FY23. During the quarter, revenue from operations climbed to Rs. 2,884.2 crore, up from Rs. 2,346.5 crore in Q3FY23, a 22.9% rise. EBITDA jumped by 63.2% to Rs. 378.1 crore in Q3FY23 from Rs. 231.7 crore in the year-ago quarter. The EBITDA margin for the company was 12.6%. Compared to Q3FY23's Rs. 190 crore, net profit climbed by 28.8% to Rs. 244.7 crore in Q3FY24.

Suryoday Small Finance Bank

On Thursday, Suryoday Small Finance Bank revealed an almost four-fold increase in net profit, which came in at Rs 57 crore for the third quarter ending December 31, 2023, compared to Rs 18 crore in the same time last year. Net interest income jumped by 33.9% YoY to Rs 245.7 crores from Rs 183.4 crores. Net total income jumped by 42.3% YoY to Rs 297.6 crores from Rs 209.1 crores in the year-ago quarter. Regarding asset quality, net NPA was 1.4% whereas gross NPA was 2.9% in Q3FY24.

Torrent Power

According to a company release, Torrent Power recorded a 46 per cent drop in its consolidated net profit to Rs 374 crore for the December quarter, down from Rs 695 crore for the third quarter of FY 2022-2023.

In the December quarter of FY2023-24, revenue from operations was Rs 6,366 crore, down from Rs 6,443 crore in the Q3 of FY 2022-23. The Board also declared an interim dividend of Rs 12 per share.

The Ramco Cements

The company reported on Thursday that, representing a 10% increase, its sales volume was 4 million tonnes in the December 2023 quarter as opposed to 3.64 million tonnes in the Q3FY23. With a 5% rise, net revenue for Q3FY24 was Rs. 2,113 crores as opposed to Rs. 2,018 crores in Q3FY23. EBITDA climbed by 37% to Rs. 402 crores in Q3FY24 from Rs. 294 crores in Q3FY23.

The net debt as of December 31, 2023, stood at Rs. 4,993 crores, which includes borrowings for working capital. The net debt to EBITDA was 3.22 times. For the third quarter that ended on December 31, 2023, Ramco Cements Ltd. announced a 38.6% YoY rise in the net profit of Rs 93.4 crore on Thursday, February 8. The Ramco Cements reported a net profit of Rs 67.4 crore for the same quarter last year, according to a regulatory filing from the company.

BHEL

The HPGCL (Haryana Power Generation Corp. Ltd.) has given Bharat Heavy Electricals Limited (BHEL) an order to build the 1x800 MW Ultra Super Critical Expansion Unit at DCRTPP Yamuna Nagar. The order value, exclusive of GST is Rs 5500 Crs.

Zomato

Zomato reported a consolidated net profit of Rs 138 crore for the October-December quarter of fiscal 2023-24 (Q2FY24), up from a net loss of Rs 347 crore for the same time the previous year. In comparison to Rs 1,948 crore during the same period last year, revenue from operations in the third quarter of the current fiscal clocked in at Rs 3,288 crore, representing a spike of 69%. According to the corporation, total expenses climbed to Rs 3,383 crore from Rs 2,485 crore during the same period last year.

ESAB India

The company declared on Thursday that it will purchase solar-powered electricity from a firm that generates power. Regarding this, the company intends to contribute twenty-six per cent of its equity to a Special Purpose Vehicle that will produce and provide the company with solar electricity. At its meeting on February 8, 2024, the Board of Directors approved an investment in the aforementioned Special Purpose Vehicle up to Rs. 1.52 crore.

IREDA

The Reserve Bank of India (RBI) approved the Indian Renewable Energy Development Agency Ltd. (IREDA) on Thursday to establish a fully owned subsidiary in the International Financial Services Centre (IFSC) located in GIFT City, Gujarat. By entering the IFSC Gift City, IREDA has strengthened its position in the international market and demonstrated India's dedication to sustainable development.