Stocks to Watch Today: Persistent Systems, AU Small Finance Bank, IndiaMART, Coal India and More
Indian equity markets are expected to witness company-specific movements today as several firms announced their December-quarter earnings, while others shared key corporate developments and IPO updates. IT, banking, manufacturing, energy, and aviation stocks are likely to remain in focus.
Q3 Earnings Highlights
Persistent Systems
Persistent Systems delivered a strong performance in the December quarter, reporting a 17.8% year-on-year increase in net profit at ₹439.4 crore. Revenue surged 23.4% to ₹3,778.2 crore, reflecting continued momentum in its digital and enterprise solutions business.
Supreme Petrochem
Supreme Petrochem reported a weak quarter, with net profit declining 57.7% to ₹30.1 crore. Revenue fell 10% year-on-year to ₹1,264.7 crore, impacted by softer demand and margin pressures.
Shoppers Stop
Retailer Shoppers Stop posted a 69.1% drop in net profit at ₹16.12 crore. However, revenue edged up 2.6% to ₹1,415.8 crore, indicating steady consumer demand despite profitability challenges.
AU Small Finance Bank
AU Small Finance Bank reported a robust quarter, with net profit rising 26.3% to ₹667.6 crore. Net interest income grew 15.7% to ₹2,341.3 crore, supported by healthy loan growth.
Vikram Solar
Vikram Solar recorded a more than five-fold jump in profit to ₹98.1 crore, compared to ₹19.02 crore last year. Revenue increased 7.8% to ₹1,105.9 crore, driven by strong execution and demand for solar solutions.
IndiaMART InterMESH
IndiaMART posted a solid performance, with consolidated profit rising 55.6% to ₹188.3 crore. Revenue grew 13.4% to ₹401.6 crore, reflecting steady growth in its digital marketplace business.
Key Corporate Developments
Coal India
Coal India Ltd received a mineral concession licence from the Ministry of Mines for the Kawalapur rare earth element block in Maharashtra, marking a strategic move into critical minerals.
Unimech Aerospace and Manufacturing
Unimech Aerospace announced a joint venture with Yusuf Bin Ahmed Kanoo Company, a Gulf-based conglomerate, to strengthen its aerospace manufacturing capabilities.
Tata Steel
The Competition Commission of India (CCI) approved Tata Steel’s plan to acquire a 50.01% stake in Thriveni Pellets, an Odisha-based company.
JSW Energy
JSW Energy’s subsidiary, JSW Thermal Energy Two, signed a power supply agreement with West Bengal’s power distribution utility for a 1,600 MW greenfield thermal project in Salboni.
RBL Bank
The CCI cleared Emirates NBD Bank’s proposal to acquire a majority stake in RBL Bank, a development that could reshape the lender’s ownership structure.
Cipla
Cipla entered into a strategic partnership to commercialise an indigenously developed CAR-T cell therapy across South Africa, Algeria, and Morocco.
Apollo Micro Systems
Apollo Micro Systems announced a ₹300 crore investment in Telangana to set up a new electronics and electro-mechanical manufacturing facility.
InterGlobe Aviation (IndiGo)
The aviation regulator DGCA stated that regulatory oversight and corrective steps have stabilised IndiGo’s operations, with adequate pilot availability to comply with revised flight duty norms.
IPO Watch
Amagi Media Labs IPO
Amagi Media Labs’ IPO is set to list today. The issue was subscribed over 30 times, with grey market signals suggesting a flat to slightly discounted listing.
Shadowfax Technologies IPO
Shadowfax Technologies’ IPO entered its second day of bidding. The issue was subscribed 50% on Day 1, while grey market premium moderated, indicating cautious investor sentiment.
(Disclaimer: The content above is provided solely for informational purposes and should not be treated as investment advice. SmartInvestment advises readers to consult a qualified financial advisor before making any investment or money-related decisions.)