As investors gear up for Wednesday’s trading session, several stocks are drawing attention due to significant announcements and financial results. Here’s a summary of the key players and what to expect.
Cochin Shipyard
The Indian government plans to sell up to 5% stake in Cochin Shipyard through an Offer for Sale (OFS). The floor price has been set at ₹1,540 per share, representing an 8% discount to Tuesday’s closing price. This OFS will include a base offer of 2.5% and a green shoe option of another 2.5%. The offer for non-retail investors is set to open on October 16, while retail investors can participate starting October 17.
HDFC Life
HDFC Life has revised its growth outlook upward, now projecting an increase of 18-20%, up from the previous estimate of 15%. However, the share of Unit Linked Insurance Plans (ULIPs) is expected to remain stable around 30%, rather than reaching the anticipated 50%. This shift in expectations comes as the company prepares to announce its quarterly results, which are expected to show strong growth in net profits and premium income but may also reveal concerns over narrowing margins due to increased ULIP sales 123.
KEI Industries
KEI Industries reported a robust 10.3% increase in net profit, totaling ₹154.8 crore, alongside a 17.2% rise in revenue, which reached ₹2,279.6 crore. The company’s EBITDA also grew by 9.1%, though the EBITDA margin narrowed by 70 basis points year-on-year, now standing at 9.7%. The board has approved plans to raise up to ₹2,000 crore through a Qualified Institutional Placement (QIP) route.
ONGC
ONGC has increased its stake in ONGC Petro Additions Ltd. (OPaL) from 91.16% to 94.04%, acquiring an additional 2.88% stake for approximately ₹5,594.8 crore. This move reflects ONGC’s commitment to enhancing its operational capabilities within the petrochemicals sector.
PNC Infratech
PNC Infratech has secured an order worth ₹4,630 crore for two projects from the Maharashtra State Road Development Corporation (MSRDC). This contract is expected to bolster the company’s revenue and enhance its project portfolio.
Rallis India
Rallis India announced a net profit increase of 19.5%, reaching ₹98 crore, with revenue growing by 11.5% year-on-year to ₹928 crore. The EBITDA surged by 24.8%, resulting in an EBITDA margin of 17.9%, up from 16% last year.
Alok Industries
In contrast, Alok Industries reported a widening net loss of ₹262.1 crore, compared to a loss of ₹174.8 crore last year, with revenue declining by 35.5% to ₹885.7 crore from ₹1,372.3 crore last year.
PFC and GR Infra
Power Finance Corporation (PFC) has transferred two transmission projects for a total of about ₹38.4 crore to Adani Energy Solutions, while GR Infra has received a Letter of Award worth approximately ₹1,885.6 crore from MSRDC.
RailTel
RailTel has successfully secured a project valued at approximately ₹79.84 crore from the Maharashtra Housing & Area Development Authority, further diversifying its project portfolio.
As these companies prepare for their respective announcements and market activities, investors will be closely monitoring their performance and market reactions in the coming days.
