Stocks to Watch: TCS, RIL, HDFC Ltd, NTPC, Adani Transmission, Britannia

Tata Consultancy Services: Tata Consultancy Services (TCS) posted healthy growth in Q4 of FY23, however, it broadly missed the street’s expectations for the quarter. In Q4FY23, TCS posted 14.8% YoY and 5.03% QoQ growth in consolidated net profit to ₹11,392 crore. Revenue from operations stood at ₹59,162 crore up by 16.94% YoY and 1.6% QoQ. Further, the net margins stood at 19.3%, while operating margins came in flat at 24.5%. TCS PAT growth is below estimates, and could not sustain margin.

Reliance Industries: Reliance Industries Ltd (RIL) has started the process to set up an infrastructure investment trust (InvIT), under which the group can monetise the backend warehousing and logistics assets of its retail business, said industry sources. Reliance Retail, the company which operates the retail business of the billionaire Mukesh Ambani-led Reliance Industries, has already registered a trust with the market regulator Securities and Exchange Board of India (Sebi) in February this year, they added. The trust will store the warehouse assets that the group intends to monetise.

HDFC Ltd: HDFC Ltd on Wednesday said that the market regulator Sebi has cleared a proposal for change in control of HDFC Capital Advisors Limited (HCAL). Sebi vide its letter dated April 10, 2023, to HCAL, a subsidiary of HDFC Limited and a co-investment portfolio manager, has granted its approval for the proposed change in control of HCAL, subject to certain conditions mentioned in the said letter, HDFC said in a regulatory filing. The proposed amalgamation is subject to receipt of final approvals from Sebi in respect of change in control of certain subsidiaries of HDFC Limited, it said.

NTPC: In a bid to raise ₹3,000 crore for funding capital expenditure and loan refinancing, state-owned NTPC announced issuing non-convertible debentures on a private placement basis on Wednesday. The power giant will issue unsecured debentures through a private placement at the rate of 7.35% p.a. for a tenor of 3 years, on April 17. These debentures will mature on April 17, 2026. The generated fund will be used for funding capital expenditure, refinancing existing loans and for other general corporate purposes.

Britannia Industries: For a dividend payout of 7200% for FY 2022‐23, Britannia Industries stock is going to turn ex-dividend today. This dividend payout by Britannia Industries is the highest in the last 2 years since 2021. One of the top producers of food products in the nation, it operates in more than 80 countries and has significant operations in the dairy, bakery, and related snacking divisions.

Adani Transmission: Adani Electricity Mumbai Ltd, the power generation subsidiary of Adani Transmission Ltd said on Wednesday, that it has fully funded its capital expansion plan of ₹1,310 crore for FY23 via internal accruals, without incurring any debt. In an exchange filing, the company said as of 31 March, its working capital loan was brought down to ₹500 crore from ₹1,045 crore in December 2022. “Additionally, the company has a surplus cash balance of about ₹800 crore.” Adani Electricity caters to a power demand of 2,000 MW in Mumbai.

AU Small Finance Bank: The Reserve Bank of India (RBI) on Wednesday approved the reappointment of Sanjay Agarwal as Managing Director & CEO and Uttam Tibrewal as Whole Time Director of AU Small Finance Bank (SFB). The Bank will host a conference call with analysts and investors on Tuesday, 25th April 2023 at 6:00 PM wherein the senior management of the Bank will discuss the financial results for the quarter and financial year ended on 31st March 2023 with the participants, said AU SFB in a stock exchange filing.

Torrent Power: Torrent Power on Wednesday said it has bagged a contract to supply 920 MW of gas-based electricity from its DGEN and SUGEN plants under a tender of NTPC Vidyut Vyapar Nigam Ltd (NVVN). The Ministry of Power had designated NVVN as the nodal agency for procurement of up to 4,000 MW power from gas-based plants during identified crunch period (April 10, 2023, to May 16, 2023, with actual offtake for 21 days). The NVVN floated a tender for this on March 10, 2023.

Anand Rathi Wealth: Anand Rathi Wealth, part of Mumbai-based financial services group Anand Rathi, on Wednesday reported a 23 per cent jump in its profit after tax at ₹42.7 crore during the three months ended March 2023. In comparison, the company had posted a PAT (profit after tax) of ₹34.6 crore during the same quarter of the preceding fiscal, Anand Rathi Wealth said in a regulatory filing. Total revenue rose by 28 per cent to ₹146.8 crore during the period under review from ₹114.6 crore in the quarter ended March 31, 2022.

Vikas Lifecare: Vikas Lifecare has announced that its wholly-owned subsidiary Genesis Gas Solutions has received the first-ever orders for Ultrasonic Meters Gas Meters. The order is worth ₹30 million. The company in an exchange filing informed that Genesis has signed an agreement with SICK AG, Germany to supply Ultrasonic Gas Meters for industrial and commercial gas customers. The meters supplied by Genesis shall be part of a Field Regulating Skid (FRS) to be used by various City Gas Distribution companies.