Glenmark Pharma & Patanjali Foods Q1 Results | ITC's FMCG Growth Plan | Top Buzzing Stocks Today

Mon, 14 Aug Pre-Open

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On Friday last week, Indian share markets continued the downtrend as the session progressed and ended the day lower.

The key benchmark indices extended losses on Friday as investors preferred to stay on the sidelines ahead of the key inflation data Monday.

At the closing bell on Friday, the BSE Sensex stood lower by 365 points (down 0.6%).

Meanwhile, the NSE Nifty closed down by 115 points (down 0.6%).

HCL Tech, Reliance and Titan were among the top gainers.

NTPC, UPL and IndusInd Bank on the other hand, were among the top losers.

Broader markets ended on a negative note. The BSE Midcap index ended marginally lower, and the BSE SmallCap index fell 0.3%.

Sectoral indices ended on a mixed note with stocks in the capital goods sector and consumer durables sector witnessing most of the buying.

On the other hand, stocks from the auto sector and finance sector witnessed selling pressure.

Shares of Bharat Forge, Raymond and Coforge hit their 52-week high on Friday.

The rupee was trading at 82.86 against the US$.

Gold prices for the latest contract on MCX were trading 0.2% higher at Rs 58,957 per 10 grams at the time of Indian market closing hours on Friday.

Speaking of stock markets, Paint stocks are getting a lot of attention in the market these days.

Asian Paints dominates this sector but what about the other stocks?

Can any one of them become the next big multibagger paint stock?

And what do the charts say about these stocks?

In the below video chartist Brijesh Bhatia answers all these questions.

Top buzzing stocks today

Zydus Lifesciences share price will be in focus today.

The company reported a 109% growth in consolidated net profit at Rs 10.9 bn for the April-June quarter of the financial year 2023-2024.

The pharma company had reported a net profit of Rs 5.2 bn in the year-ago period.

HCL Tech will also be a top buzzing stock.

The company had one of the best days for shareholders of HCL Technologies in the last 14 months, with the intraday gains scaling a high of Rs 1,186.95, a day after it announced a deal with Verizon Business.

HCL Tech announced signing a US$ 2.1-bn deal with the US telecom major.

Glenmark Pharma Q1 net profit falls 18%

Glenmark Pharma on Friday reported an 18% decline in consolidated net profit at Rs 1.7 bn in the June 2023 quarter, impacted by higher expenses.

The company posted a consolidated net profit of Rs 2.1 bn in the same quarter last fiscal.

Consolidated total revenue from operations during the quarter under review stood at Rs 34 bn against Rs 27.8 bn in the year-ago period. Total expenses were higher at Rs 30.4 bn compared to Rs 25.5 bn in the same quarter a year ago.

The company's North American business remained stable, and the Indian business continued to significantly outperform industry growth rates.

Sales from the formulation business in India in Q1 were at Rs 10.6 bn over Rs 10.4 bn in the previous corresponding quarter, a growth of 2.8%.

In North America, sales of finished dosage formulations clocked Rs 8.1 bn as against Rs 6.6 bn in the same period a year ago.

RoW registered a revenue of Rs 5.5 bn compared to Rs 4.2 bn in the same quarter last fiscal.

Its European operations revenue was at Rs 5.7 bn from Rs 3.3 bn in the year-ago quarter.

In the past five years, the stock has experienced a rise of 33%. It is amongst the top 4 pharma stocks in India.

Check out Equitymaster's stock screener for screening India's top pharma stocks

Nykaa Q1 revenue is up 24%

FSN E-Commerce Ventures, which operates beauty and personal care (BPC) company Nykaa, saw its profits fall by about 27% on a year-on-year (YoY) basis in Q1FY24 to Rs 33 m dragged by a slowdown in discretionary spending during the quarter.

In the same quarter last year, the company reported a profit of Rs 46 m. In both cases, equity shareholders of the parent have been considered.

At the company level, FSN E-Commerce Ventures reported a net profit of Rs 54 m in Q1FY24, which was about 8% higher than Rs 50 m in Q1FY23.

The Mumbai-based company had faced inflationary pressures that have started to moderate, and consumption in the BPC category remains strong in the urban areas.

However, the apparel industry - where Nykaa Fashion is present was impacted, especially in small towns as people cut back on discretionary expenses.

The company's revenue from operations stood at Rs 14.2 bn in Q1FY24, which is an increase of around 24% from the Rs 11.5 bn that it registered in the same quarter last year.

Nykaa's gross merchandise value (GMV) grew 24% on a YoY basis to Rs 26.7 bn in Q1 FY2024.

Nykaa's profits in the quarter were also hurt by higher expenses, especially the costs related to employees.

Employee benefit costs amounted to Rs 1.4 bn in the June quarter, which was 22% higher than the Rs 1.1 bn that Nykaa had spent in the same period last fiscal year.

Nykaa's results come at a time when it has been hit by a slew of top-level exits. Since April, six senior executives, including the company's chief marketing officer, Shalini Raghavan, among others have quit the company.

Also, for what to do with the stock of Nykaa if you are a shareholder or looking to invest in it, check out our editorial: Zomato, Paytm, and Nykaa: Buy, Avoid, Hold, or Sell?

ITC bets big on FMCG

Diversified conglomerate ITC on Friday announced that the FMCG business has immense potential for growth with its brands commanding an annual consumer spend of Rs 290 bn.

The company exports the FMCG brands to several countries and the business vertical has immense growth potential due to the rising per capita income of the people.

The ITC Next strategy for the FMCG business is to build a future-ready portfolio. With more than 25 brands at the moment, the annual consumer spend is around Rs 290 bn.

Regarding the hotel business, the ITC board had given in-principle approval to demerge the vertical and spin it off into a new entity.

The business is well poised to capitalise on the growth potential of the tourism sector growing.

ITC has pivoted to an asset-right strategy. With 120 hotels at the moment under the ITC fold, managed properties comprise 55% of the total rooms.

ITC continues to strengthen the cigarette business.

ITC is one of the best dividend-paying stocks. We did an editorial back in January 2022 listing the best dividend stocks you can count on.

Apart from that, we also covered an editorial a couple of months ago explaining why the prospects for ITC look good. You can read it here - ITC: Load, Aim...Fire.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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