Due to favourable global indications this morning, the markets are set to start the final week ahead of the Union Budget on a high note. The SGX Nifty February futures were trading at 18,206 at 7:10 AM compared to the spot Nifty 50’s Friday closing price of 18,028.
The following stocks will probably have some trading activity on Monday.
Earnings watch: Axis Bank, Canara Bank, Concor (Container Corporation of India), Gland Pharmaceuticals, HFCL, IDBI, J&K Bank, Jindal Stainless, Maharashtra Seamless, Omax Autos, Route Mobile, Selan Exploration, Shoppers Stop, Syngene International, Tata Communications, and Zensar Technologies are among the companies whose earnings are worth watching.
ICICI Bank: In the third quarter of FY23, the bank’s net profit increased 34.2% to Rs 8,311.85 crore from Rs 6,193.81 crore in the same quarter of FY22. Total revenue increased by 23.9% year over year to Rs 33,529.26 crore.
UltraTech Cement: The Aditya Birla Group company’s consolidated net decreased 37.9% to Rs 1,062.68 crore in the three months ending in December 2022 from Rs 1,710.40 crore in the three months ending in December 2021. However, overall revenue increased by 27.5% to Rs 16,647.52 crore over the same time.
Reliance Industries: The Mukesh Ambani-led business recorded a consolidated net profit of Rs 15,792 crore for Q3FY23, a 15% decline from the previous quarter but somewhat over estimates. In a conference call after the results, the business issued a warning over the effect of global economic headwinds on energy demand.
SBI Life: The state-run insurer’s net decreased by 16.5% in the third quarter of fiscal year 23 to Rs. 304.13 crore from Rs. 364.06 crore. However, operating revenue increased by 30.1% year over year to Rs 26,626.71 crore.
Yes Bank: Compared to the same period a year earlier, the bank’s net income for the third quarter fell by 80.7% to Rs 51.52 crore, or Rs 51.52 billion. However, overall revenue rose by 24.6% YoY to Rs 7,015.18 crore.
Apollo Micro Systems: The company’s board of directors approved a stock split in the ratio of 1:10; each share would be divided into ten equity shares with a face value of Rs 1 each.
Petronet LNG: The business reported its highest-ever profit in Q3FY23, at Rs 1,181 crore, up 3.2% from Rs 1,144 crore in the same quarter last year. Revenue increased by 44% YoY at Rs 46,025 crore. According to the corporation, it was able to accomplish the results because of operational optimisation, which reduced power and fuel costs, and a drop in the price of LNG globally.
Wipro: The IT giant sacked 452 new hires due to poor performance. A spokeswoman for Wipro stated in a statement: “We had to fire 452 freshmen after they consistently failed tests after receiving training.
IDFC First Bank: Compared to Q3FY22, the bank’s net income increased by nearly 115 percent, to Rs. 604.61 billion. The total income of Rs 7,064.30 crore increased by 35.9% year over year.
Bajaj Auto: By early 2024, the two-wheeler industry leader Bajaj Auto will introduce its renowned scooter brand Chetak in Europe (the parent company of KTM). The company’s Chakan facility just manufactured the one millionth KTM motorcycle.
RBL Bank: The private bank’s third quarter net income increased 34% year over year to Rs 209 crore thanks to substantial growth in net interest income. The amount of net interest income increased 13.6% to Rs 1,148 crore.
Punjab & Sind Bank: Net profit increased by more than 24%, from Rs. 300.82 crore in Q3FY22 to Rs. 373.24 crore in Q3FY23. The total income increased by about 10% to Rs 2,245.10 crore.
LTIMindtree: Due to the one-time effect of merger-related integration costs, the company’s Q3 net decreased 4.6% YoY to Rs 1,000.70 crore. Operational revenue increased 25% YoY to Rs. 8620 crore.
HDFC Life: Compared to the same quarter last year, the private sector insurer’s Q3 net increased by 15% to Rs 315 crore. To reach Rs 19,693 crore, total income grew by 38.5% year over year.
JSW Steel: Due mostly to increasing costs, the company’s Q3 consolidated net decreased by 85.50% in the December quarter to Rs 474 crore. However, overall revenue increased by over 3% YoY to Rs 39,322 crore.
Axis Bank: In the upcoming days, the private bank wants to issue 10-year infrastructure bonds in order to raise up to Rs 5,000 crore.
Stocks in F&O ban: Delta Corp, L&T Finance Holdings and PVR are the three stocks in F&O ban period on Monday.