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The key benchmark indices are likely to start trade on an positive note, largely aided by short-covering ahead of the monthly F&O expiry. Developments on the Russia-Ukraine conflicts and high oil prices may keep the upside in check. As of 08:00 AM, the SGX Nifty futures quoted at 17,253, indicating an opening gain of 150-odd points on the Nifty 50 index. Meanwhile, here are the top stocks in focus for trade on Wednesday.
Russia-Ukraine crisis fallout: Stocks of Indian companies with exposure to Europe brace for impact on their businesses as the Russia-Ukraine crisis worsens. Sun Pharma and Dr Reddy’s have a significant presence in the Russian market. So does other oil & gas, tea companies. READ MORE
Mahindra CIE Automotive: The company’s profit for the quarter ended December 2021 fell 28 per cent to Rs 80 crore when compared with Rs 112 crore in the corresponding quarter a year ago. Total income, however, was up 5.4 per cent YoY at Rs 2,064 crore.
Beauty and Personal Care: The beauty and personal care segments witnessed strong traction in the December quarter despite the Omicron wave, even as companies like Aditya Birla Fashion and Retail (ABFRL) announced their entry into the segments. Nykaa in its post-earnings conference to investors said sequentially Q3 was one of the best from a beauty perspective. READ FULL ANALYSIS
Bharat Forge: A weak performance in the March quarter due to muted export revenues from commercial vehicles and supply chain issues has impacted the stock performance off late. However, brokerages are positive on the stock citing strong growth for non-auto business, India CV revival and revenue inflow from multiple defence projects it has bid for. READ FULL ANALYSIS
Dilip Buildcon: The company has won a road project worth Rs 1,141 crore in Chhattisgarh.
Procter & Gamble India: The FMCG company said, starting April 1, 2022, it will extend it’s medical plan that provides hospitalisation coverage to staff and their dependents to the partners and dependents of its LGBTQ+ employees too.
Aditya Birla Fashion and Retail (ABFRL): The company has announced its collaboration with Accenture for a digital transformation programme designed to drive growth, increase business agility and improve operational efficiency.
Butterfly Gandhimathi Appliances, CGCE: Crompton Greaves Consumer Electricals (CGCE) had made an open offer to acquire 26 per cent equity stake (46.48 lakh shares) of the company at Rs 1,433.90 per share. Post acquisition, Cromption will hold up to 55 per cent stake in the company. The stock last traded at Rs 1,391 on Tuesday.
SIS: The company has secured a 2-year contract worth Rs 225 crore from Mahanadi Coalfields to deliver security solutions to the latter’s 18 sites across India.
Jet Airways: Jalan-Kalrock consortium-owned Jet Airways on Tuesday announced the appointment of former SriLankan Airlines’ CEO, Vipula Gunatilleka as the Chief Financial Officer. In the past, Gunatelleka played a pivotal role to turnaround the loss-making national carrier of Angola – TAAG Angola Airlines, the release added.
Elantas Beck India: The company’s Q3FY22 net declined 26 per cent to Rs 16.60 crore as against Rs 22.55 crore in Q3FY21. Total income, however, jumped 23 per cent YoY to Rs 145 crore.
Nazara Technologies: The company’s board is scheduled to meet on February 25 to consider and approve a proposal to issue equity shares to the shareholders of Datawrkz Business Solutions on preferential basis, as per the investment agreement dated January 18, 2022.
Jindal Hotels: The company board approved a proposal to issue and allot 1.75 lakh shares to each of the promoters – Piyush Daudayal Shah and Chanda Piyush Agrawal at Rs 42 each. The stock last traded at Rs 40.35 on the BSE on Tuesday.
Results Watch: Gammon India and Sanofi India to announce December quarter results today.
Stocks in F&O ban: Escorts, Indiabulls Housing Finance and Punjab National Bank (PNB) are the only three stocks in the F&O ban period on Wednesday.
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