The top 10 stocks that could be watched on Friday are listed below:
Reliance Industries: Reliance Industries, an oil-to-telecom giant owned by Mukesh Ambani, will present its financial results for the second quarter today. For the quarter that ended in September, Reliance Industries is anticipated to record significant year-over-year rise in both consolidated net revenue and profit. Ebitda, the company’s measure of profits before interest, taxes, depreciation, and amortisation, was $1,14.35 billion in the company’s second quarter of operations.
Axis Bank: On Thursday, the third-largest private lender in India announced a consolidated net profit of Rs.5,330 crore, an increase of 70% from the previous quarter’s net profit of Rs.3,133 crore. Net interest income (NII) for the lender increased 31% year over year to Rs.10,360 crore from Rs.7,901 crore in the previous quarter. Net interest income (NII) for the lender increased 31% year over year to Rs.10,360 crore from Rs.7,901 crore in the previous quarter.
ITC: On Thursday, the cigarette-to-hotel giant ITC announced a 24% increase in its consolidated net profit at Rs.4619.77 crore (attributable to owners of the parent), led by demand for its smokes and snacks. In the same time last year, it was Rs.3,713.76 crore. The FMCG giant’s consolidated profit after tax (PAT) increased 5% sequentially from Rs. 4389.76 crore in the June quarter (Q1FY23).
Bajaj Finance: On Thursday, Bajaj Finance announced an increase in net profit of 88% to Rs. 2,781 crore for the September quarter. In the same quarter of the previous fiscal year, The comply had reported net profit of 1,481 crore. Net interest income increased 31%, from 5,337 crore to 7,001 crore. As compared to the same period last year, its assets under administration increased by 31% to 218,366 crore in the second quarter.
Asian Paints: According to sources, Asian Paints has given the go-ahead for the establishment of a manufacturing facility for vinyl acetate-ethylene emulsion (VAE) and vinyl acetate monomer (VAM) in India. The project will require an investment of over ₹2,100 crore spread over 3 years. The facility would have an installed capacity of 1 lakh tonnes per year for VAM and 1.5 lakh tonnes per year for VAE.
Tata Consumer: On Thursday, Tata Consumer Products Ltd (TCPL) announced a 36.25% increase in its consolidated net profit for the second quarter, coming in at ₹389.43 crore. For the months of July through September of the previous year, the corporation reported a net profit of ₹285.80 crore. In the quarter under review, operating revenue increased by 10.87% to ₹3,363.05 crore from ₹3,033.12 crore in the same quarter last year.
Gail: According to two industry sources on Thursday, GAIL (India) Ltd. has published a swap tender proposing to exchange two liquefied natural gas (LNG) cargoes for loading in the United States for two additional cargoes for delivery to India. Two cargoes are available for loading from the Sabine Pass terminal from December 27 to January 11–20, according to India’s major gas distributor. It is looking for two shipments to be delivered to the Dabhol terminal in India, the first between November 25 and December 15 and the second between January 1 and 10.
Dhanlaxmi Bank: Dhanlaxmi Bank announced on Thursday that its largest shareholders wanted to limit the chief executive officer’s spending authority, intensifying a fierce shareholder conflict with the management of the private lender. According to a regulatory filing, the bank with its headquarters in Thrissur, Kerala, will call an extraordinary general meeting on Nov. 12 at the request of some shareholders, including B Ravindran Pillai, who owns a 9.99% stake in the company.
Nazara Technologies: For the fiscal year 23 third quarter ended in September, the diverse gaming and sports media platform generated a profit of Rs. 16.9 crore. 10.5% more than a year ago. Compared to the same time last year, revenue jumped by 104% to 263.8 crore and EBITDA improved by 9.2% to 21.3 crore. Manish Agarwal was replaced as CEO effective December 1, 2022 by Sudhir Kamath, who the firm also named as its new COO. Manish Agarwal will now pursue his entrepreneurial endeavours.
PNB Housing Finance: Hardayal Prasad, MD and CEO of Punjab Housing Finance, resigned. Prasad gave a personal explanation. He was dismissed of his responsibilities as MD and CEO of Can Fin Homes, and Girish Kousgi will take over those roles going forward.
