Stocks to watch on Oct 22: Eternal, KEI Industries, Indian Hotels, and more

The Indian equity benchmarks had a volatile Wednesday, with the Nifty and Sensex ending slightly lower. Several companies released their quarterly earnings during the day and some after the market closed.

Here is a quick look at the stocks that will be in focus on October 22.

Eternal reported a consolidated net profit of Rs 125 crore for the September quarter, almost double from the Rs 65 crore a year-ago. However, it missed the Bloomberg estimate of Rs 280 crore.

Eternal’s consolidated adjusted revenue was Rs 24,621 crore for the quarter, beating the estimate of Rs 23,448 crore. Its consolidated adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 20% sequentially to Rs 666 crore but was below the estimated Rs 775 crore.

The Indian Hotels Company reported a net profit of Rs 380 crore for the September quarter, up 19.5% year-on-year (YoY). Its revenue from operations rose 22% to Rs 2,484 crore from Rs 2,041 crore a year ago.

The company’s EBITDA increased nearly 24% to Rs 706 crore. However, EBITDA margin contracted to 19.95% from 27.9% a year earlier.

KEI Industries reported net profit of Rs 262.4 crore for the quarter, up 29% YoY while its revenue rose around 29% to Rs 3,776.4 crore.

The company’s EBITDA rose around 40% to Rs 376 crore, while its EBITDA margin improved marginally to 10% from 9.9% in the year-ago period.

M&M Financial Services reported a 55% increase in net profit to Rs 882 crore for the September quarter. Its net interest income rose 13% to Rs 2,391 crore.

Its total income rose 18% to Rs 5,962 crore during the quarter and total assets increased 21% to Rs 1.80 lakh crore.

Bharat Electronics has received additional orders worth Rs 1,011 crore since its last disclosure on October 13.

The major orders received include improved Low Level Light weight Radar, communication equipment, sonar, jammer, upgrade, and spares, among others.

Disclaimer: This article provides factual analysis only and is not, and should not be construed as, an offer, solicitation, or recommendation to buy or sell securities. Investors must conduct their own independent due diligence and seek advice from a SEBI-registered financial advisor.