Stocks To Keep An Eye On: MRPL, Tata Motors, HPCL, Oberoi Realty, ZEEL, & More

Hero MotoCorp
The diverse CG Motors has been designated as the distributor for Hero MotoCorp, the world’s biggest motorbike and scooter manufacturer, in Nepal. Hero MotoCorp and CG Motors want to build a state-of-the-art greenfield product assembly facility in Nepal. Given that the activities will provide job opportunities and draw in new investments, this shows the company’s dedication to the country. The factory will have a 75,000-unit annual capacity and be situated in the Nawalpur area. March 2024 is when operations will begin.

Petrochemicals and Refinery in Mangalore (MRPL)
Mangalore Refinery and Petrochemicals Ltd (MRPL) announced a consolidated net profit of Rs 392.08 crore for the third quarter (Q3) of the fiscal year 2024 (FY24), which concluded on December 31, 2023, in an exchange filing on Monday. This compares to a loss of Rs 194.95 crore in the same time frame the year before. Its consolidated income from operations in the third quarter of FY24 was Rs 28,383.41 crore, down from Rs 30,966.16 crore in the same period the previous fiscal year. The company reported a consolidated total income of Rs 28,422.99 crore in the December quarter of the current fiscal year, which is a decrease from Rs 31,008.46 crore in Q3FY23. Additionally, an interim dividend of Rs 1 per share for FY24 has been announced by the Board. The record date has been set by the corporation for February 02, 2024.

Securities IIFL
The business released its financial results for the quarter and nine months that concluded on December 31, 2023, on Monday. Its net income for the period under review was Rs 582.3 Cr, up 68% YoY from Rs 347.0 Cr in the same quarter last year. The firm reported net comprehensive income of Rs 150.4 Cr, up 134% YoY from Rs 64.2 Cr in the same period last year. In the third quarter of FY24, IIFL Sec recorded a profit before tax of Rs 203.2 Cr, increasing 139% YoY from Rs 85.1 Cr in Q3FY23. The average daily market turnover (including F&O) for the brokerage business during the quarter was Rs 2,71,309 Cr (BSE + NSE), increasing 73% annually and 9% quarterly. The overall brokerage income for the quarter ended December 31, 2023, was Rs 267.5 Cr, a 73% increase over the previous year.

HPCL, or Hindustan Petroleum Corp. Ltd.
The establishment of a fully owned subsidiary, HPCL Renewable & Green Energy Ltd, was previously authorized by the board of the firm with the aim of diversifying into new green and renewable energy business sectors and consolidating the company’s existing green business activities into a single location. The Ministry of Corporate Affairs issued the Certificate of Incorporation for the WOS on January 19, 2024, after it was approved and the procedures were thereafter followed.

Cipla
Cipla announced quarterly revenue of Rs 6,604 crore (consolidated) for the third quarter of the current fiscal year on Monday, January 22. Cipla reported earning Rs 5,811 crore in Q3FY23. Cipla’s net profit for the reviewed quarter rose from Rs 801 crore to Rs 1,056 crore, a 31.8% rise from the same time the previous year. Cipla reported profits before interest, taxes, depreciation, and amortization (EBITDA) of Rs 1,747.7 crore for the third quarter of this year, a 24% increase over the Rs 1,408.4 crore it recorded for the same time last year. In Q3FY24, Cipla’s margin increased to an all-time high of 26.5%. In Q3FY23, it had disclosed a margin of 24.2%.

Topoi Real Estate
Oberoi Realty Ltd., one of the biggest real estate firms in India, is well-known for its lavish residential developments. The business debuted a new tower at Oberoi Garden City, Goregaon’s Elysian, on January 19, 2023. The project’s estimated gross booking value for its 2.20 lakh square feet of carpet space is at Rs. 882 crores. Oberoi Garden City, the company’s flagship project, made Goregaon one of the most sought-after real estate locations. This 80-acre integrated development offers excellent access to the commercial areas, suburban station, and metro as well as a ready-made social and recreational infrastructure.

The Tata Motors
Tata Motors said on Sunday that all of its passenger car range, including its electric cars (EVs), would see average price increases of 0.7% beginning next month. Tata Motors has released a statement stating that this increase is intended to partly counteract the rise in input prices and will go into effect on February 1, 2024.

Zee Entertainment Enterprises Ltd (ZEEL) The long-awaited $10 billion merger of India’s two biggest media firms, Zee Entertainment and Culver Max Entertainment (CME), previously known as Sony Pictures Networks India, has been concluded. The relocation, which was announced on January 22, has sparked many legal actions and disputes between the two companies. According to a statement issued by Sony Pictures Entertainment, CME was terminated since the merger partnership agreement was not extended by the deadline of January 21. The statement expressed sadness that the closure conditions were not met after more than two years of talks.

Bank Axis
Today is the private sector lender’s planned financial results announcement for the quarter that concluded on December 31, 2023.