The SGX Nifty signals a positive start for the Sensex, Nifty today. Cues from US markets remained positive as Dow Jones, S&P 500 and Nasdaq ended higher on Friday. Markets in India continued to remain rangebound as of close on Friday.
Top stocks to watch today are Reliance Industries, ICICI Bank, Yes Bank, Macrotech Developers, HDFC Bank.
Reliance Industries: Heavyweight Reliance Industries on Saturday reported a strong set of Q4 earnings, beating estimates on all parameters and across the board. The country’s most valued company saw its highest ever quarterly profit during the quarter ended March 2023 at Rs 19,299 crore. The EBITDA margin came in at 18% against. 16.2% in the previous quarter.
ICICI Bank: ICICI Bank in its Q4 results on Saturday beat analyst estimates with its NIM (Net Interest Margin) coming in at an all-time high of 4.9% in Q4. ICICI Bank’s Q4 net profit came in at Rs 9,121.8 crore against Rs 8,311 crore in the previous quarter, up 30% on a year-on-year basis.
Yes Bank: Yes Bank reported a mixed set of Q4 numbers, with the bank’s asset quality deteriorating, and in contrast, the NIM coming in at its best levels in 9 quarters, against expectations of a decline. Yes Bank’s Q4 net profit came in at Rs 202 crore against Rs 367 crore reported in the same period last year, a drop of 45%.
Macrotech Developers: Real Estate player Lodha (Macrotech Developers) saw a mixed quarter in Q4. The company’s revenue dipped 5.5% YoY to Rs 3,255 crore against Rs 3,444 crore in the same period last year. The net profit however grew 39% YoY to Rs 744 crore against Rs 535 crore in Q4FY22.
HDFC Bank: HDFC Bank will be in major focus today after the Reserve Bank of India (RBI) on Friday allowed the bank to hike stake in HDFC Life, HDFC ERGO to more than 50%.