India Stocks to Monitor: RIL, UtraTech Cement, YES Bank, Grasim and More
By Erika Dee
On January 25, Monday, Nifty futures traded 135 points higher at 14,490 levels on Singapore Exchange. This reflects a gap-up start for benchmark indices. Those looking to invest must know which are the stocks to follow today based on their Q3FY21 performance. Some have performed unexpectedly well, while others have great strategies in plan for better performance down the road.
Stocks that Performed Unexpectedly Well
Reliance Industries (RIL) attained a net profit Rs 13,101 crore for Q3FY21 (or roughly USD$1,796,540.13), up 12.5 per cent year-on-year (YoY). In spite of the pandemic and global economic decline, lower expenses buttressed earnings even as revenues declined. Consolidated net sales in the period scrutinized however, stood at about Rs 1.18 trillion. This is 23 per cent lower compared to net sales from a previous year.
UltraTech Cement is also worth following as it performed quite unexpectedly well. The cement maker reported a consolidated profit of Rs 1,584 crore or USD $217,213.92 in Q3FY21, which is122 per cent higher compared to the same time period the previous year. The company attained revenues from operations of Rs 12,254.12 crore (USD $2,549,102.81), which represents a 17.38 per cent higher year-on-year.
Yes Bank is worth watching whether to invest or not because it earned a profit of Rs 150.7 crore (USD $20,667,759.04) in Q3FY21. It is worth nothing that a year ago,in Q3FY20, it made a loss of Rs 18,560 crore (USD $2,545,413.06) . At the time time, between the two time periods, the company's net interest income jumped from Rs 1,064.7 (USD $145,922.39) to Rs 2,560.4 crore (or USD $351,091.46).
Birla Corp demonstrated higher net profits of 82.1 per cent YoY. In effect, it earned profits of Rs 148.42 crore (USD $20,353,532.17) for the third quarter of the current fiscal, mainly because of cost rationalisation and higher sales.
For Q3FY21, DCB Bank made a profit of Rs 96.2 crore (USD $13,192,358.14). This is relatively stable since it made a net profit of Rs 96.70 crore (USD $13,260,925.49) in Q3FY20. However, its total income rose to Rs 1,023.86 crore (USD $140,288.80) from just Rs 990.89 crore (USD $135,873,294.21) in the previous corresponding period.
The company demonstrated higher profit between Q3FY21 and Q3FY20. It poses Rs 204.1 crore (USD $27,986,498.15) in Q3FY21, significantly higher than Rs 154.1 crore (USD $21,133,335.64) in Q3FY20.
At the same time, the company witnessed its revenue rose significantly from Rs 646 crore (USD $88,580,489)t o Rs 859.4 crore (USD $117,858,459.76) YoY.
Companies with Better Strategies in Plan
BSNL, MTNL Merger Out
The plan to merge two state-owned telecom companies BSNL and MTNL has now been completely shelved. Notable here is that the plan to merge was discussed continuously for 20 years already. This means the two companies might have new growth strategies in plac worth watching.
The company recently announced strategies to better serve its clients and at the same time, earn. The company announced increased prices of its passenger vehicle (PV) range by up to Rs 20,000 so that it can survive against nput costs and semiconductors.
However, customers who have booked Tata passenger vehicles on or before January 21 are not going to charged higher. They are protected from this price hike.
Grasim Industries may stand to become a gamchanger worth monitoring. It recently announced that it enter the industry of paints and invest a total of Rs 5,000 crore (USD $685,702.00) over the next three years.
SAIL, with the assistance of the Centre, has a lofty goal of setting up India's first gas to ethanol plant at its ferro alloy plant in Chandrapur in Maharashtra. This is what an insider official reported.
Those that Sold Raise Funds from Public
The company sold almost 40 lakh shares of IndusInd Bank Ltd, valued at higher than Rs 366 crore (USD $50,190,970.80) through an open market transaction.
The state-owned power giant said it will raise Rs 2,500 crore (USD $342,834.50) through issuance of non-convertible bonds via private placement on January 27.
The company made Rs 1,169.99 (USD $160,309.41) crore by alloting shares to qualified institutional buyers.
Punjab National Bank (PNB), a state-owned financial institution, has made a total of Rs 495 crore (USD$67,881,231.00) by issuing bonds on private placement basis.