Stocks to Watch Today, Monday, July 6: Vedanta Power, NBCC, Kotak Mahindra Bank, HDFC Bank & FSN E-Commerce Ventures 

Mumbai, July 6: Investors in India on Monday will be tracking Vedanta Power shares as power sales jumped 38% while NBCC shares will be under spotlight as it bagged projects in Assam and Odisha. Here is What You Should Watch; 

Vedanta Power’s (VEDPOWER) Power Sales Jump 38% YoY in Q1FY27 

Power sales at Vedanta Power Limited increased 38% year-on-year to 5,225 million units in Q1FY27 compared to 3,784 million units in the year-ago quarter. In a statement, the company said this was mainly due to a rise in sales at Meenakshi Energy plant by 245% YoY to 1,350 million units as the plant operated at full installed capacity of 1,000 MW during the quarter under review. Sales from Talwandi Sabo Thermal Plant remained almost stable at 2,723 million units as Plant Availability Factor for the plant improved to 86% from 77% during the same period last year. “It is pertinent to note that, since the reported quarter includes both pre and post demerger period (Company demerged from parent Vedanta Limited during the quarter), comparisons with the prior quarters should be read keeping this in mind,” it added. 

NBCC India’s (NBCC) Gets ₹132.28-Crore Orders for Projects in Assam, Odisha 

NBCC (India) Limited informed the exchanges on Friday that it has won three project management orders worth ₹131.99 crore and ₹0.29 crore respectively from different authorities across Assam and Odisha. The two orders worth ₹55.46 crore each from Navodaya Vidyalaya Samiti pertain to construction of permanent campuses of Jawahar Navodaya Vidyalaya (JNV) in South Salmara and West Karbi Anglong districts of Assam. The third order worth ₹21.36 crore from the Government of Odisha (Sports & Youth Services Department) is for construction of a 200-bed sports hostel in Sambalpur. These orders were bagged in the normal course of business under the Project Management Consultancy model. This brings NBCC’s order book close to ₹21,000 crore, which includes orders in education infrastructure and sports infrastructure segments. 

Kotak Mahindra Bank’s (KOTAKBANK) Net Advances Cross ₹5.1 Lakh Crore Mark in Q1 Update 

Kotak Mahindra Bank released its first business update of Q1FY28 during which it revealed net advances had increased 15.1% year-on-year to ₹5.12 lakh crore. Deposits at the end of the quarter increased by 11.7% from the year-ago period to ₹5.72 lakh crore. CASA deposits grew 10.2% year-on-year to ₹2.31 lakh crore as on June 30. This means that advances growth continued to outpace deposit growth for the lender, for another quarter during FY27. It must be noted that these are provisional numbers and are subject to limited review. 

HDFC Bank’s (HDFCBANK) Advances, Deposits Grow by Double-Digits in Q1 

Advances growth continued to impress at HDFC Bank as its business update for Q1FY28 showed period-end gross advances grow by 15.4% year-on-year to around ₹30,610 billion as of June 30. Period-end advances under management grew by 12.4% to ₹31,270 billion. Average advances under management grew by 10.8% to ₹30,386 billion for the quarter ended June 2023. Period-end deposits grew 14.7% year-on-year to ₹31,705 billion. Average deposits grew by 13.3% to ₹30,114 billion. Period-end time deposits grew by 17.4% to ₹21,450 billion as of June 30, while CASA deposits grew 9.4% YoY to ₹10,255 billion. 

FSN E-Commerce Ventures (NYKAA)’s Revenue Seen Growing By Near 30% in Q1 

FSN E-Commerce Ventures, the parent of fashion retailer Nykaa Ltd, said consolidated gross merchandise value (GMV) and net sales value (NSV) growth during the quarter ended June 2023 will be in the early thirties, while consolidated net revenue growth will jump to near thirty percent. Both metrics are expected to be among the highest in recent quarters. Consolidated net revenue growth is seen driven primarily by strong growth in Beauty vertical that will deliver NSV and net revenue growth in the late twenties. Fashion vertical will see NSV grow in mid-fifties and net revenue growth inch closer to fifty percent, its highest in multiple quarters. Lower leakages along with increase in brand assortment and recent marketing spends have helped improve the GMV- to-NSV funnel resulting in robust new customer acquisition across verticals. 

Source: bseindia.com, nseindia.com