Stocks to watch today: Shares of firms like RIL, ICICI Bank, Yes Bank, DLF, Kotak Bank, SpiceJet, and others will be in focus in Friday’s trade
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Nifty futures on the Singapore Exchange traded 25 points, or 0.14 per cent lower at 17,819, signaling that Dalal Street was headed for a negative start on Tuesday.
ICICI Bank
India’s second-largest private sector lender has reported a 31.43 per cent year-on-year jump in its September quarter consolidated net profit to Rs 8,006.99 crore. On a standalone basis, ICICI Bank reported a 37.14 per cent rise in September quarter net profit at Rs 7,557.84 crore. Total income grew to Rs 31,088 crore in the reporting quarter, while overall expenses climbed to Rs 19,408 crore from Rs 18,027 crore.
Kotak Mahindra Bank
On Saturday reported a 27 per cent year-on-year rise in net profit to ₹2,581 crore for the quarter ended September. Total income during July-September period grew to Rs 10,047 crore from Rs 8,408 crore in the year-ago quarter, the bank said in a regulatory filing.
Hindustan Unilever
FMCG major Hindustan Unilever Ltd. on Friday reported a 22.19 per cent rise in its consolidated net profit to Rs 2,670 crore for the second quarter ended September, mainly helped by volume growth. Total income increased 16.44 per cent during the quarter under review to Rs 15,253 crore.
RIL
Oil-to-telecom major Reliance Industries on October 21 reported a consolidated net profit of Rs 13,656 crore for the quarter ended September as against Rs 13,680 crore in the year-ago quarter.
Revenues at the petrochemical major surged 33.7 per cent to Rs 2.32 lakh crore, led by strong performance of the oil-to-chemical, telecom and retail operations in the quarter.
DLF
The realty major sales bookings rose 62 per cent year-on-year during the April-September period to Rs 4,092 crore on better demand for its housing properties. Its sales bookings stood at Rs 2,526 crore in the first half of the previous financial year, according to an investors presentation by the firm.
SpiceJet
India’s aviation regulator has removed the 50 per cent cap on SpiceJet, allowing it to operate all its flights from 30 October. The budget airline can now operate 3,193 flight departures weekly in the winter schedule, 6.6 per cent more than what was approved for last year’s winter schedule. The winter schedule runs from 30 October to 25 March.
JSW Steel
JSW Steel on Friday reported a consolidated net loss of Rs 915 crore for the quarter ended September. The company had posted a consolidated net profit of Rs 7,179 crore in the year-ago period. However, total income during the quarter under review increased to Rs 41,966 crore from Rs 33,449 crore a year ago. Crude steel production was at 4.95 million tonnes, 21 per cent higher on year.
Ambuja Cements
Ambuja Cements, now part of the Adani Group, on Friday reported a fall of 94.24% in its consolidated net profit at Rs 51.30 crore for the September quarter, mainly due to rising fuel prices and related inflationary impact. The company had clocked a net profit of Rs 890.67 crore in the year-ago quarter, Ambuja Cements said in a BSE filing. Its revenue from operations rose 7.46 per cent to Rs 7,143.17 crore as compared to Rs 6,647.13 crore in the corresponding quarter of the previous financial year.
Vodafone Idea
Vodafone Idea Ltd’s board on Friday approved a plan to sell Rs 1,600 crore worth of convertible bonds to ATC Telecom Infrastructure. The funds will be used by Vodafone Idea to pay some of the pending dues to the tower operator for renting its assets to provide mobile phone services in India. The telco said it would sell 16,000 optionally convertible, unsecured, unrated and unlisted debentures of Rs 10 lakh each in one or more tranches.
Hindustan Zinc
Vedanta group firm Hindustan Zinc on Friday reported a 32.8 per cent rise in consolidated net profit at Rs 2,680 crore for the quarter ended September 2022 on the back of factors like higher zinc volumes and prices and gains from strategic hedging. The company had posted a consolidated net profit of Rs 2,017 crore in the year-ago period, Hindustan Zinc said in a filing to BSE. The company’s CEO Arun Misra said that both metal and silver production have gone up and this has contributed to EBIDTA.
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UPL
Private equity firms KKR, Brookfield and TPG, and sovereign wealth fund Abu Dhabi Investment Authority (ADIA) will invest a total of $500 million (about Rs 4,040 crore) to buy minority stakes in group companies of Mumbai-based agrochemicals company UPL Ltd including its Advanta Enterprises Ltd unit.
