Stocks to watch: RIL, HUL, ICICI Bank, RBL Bank, IGL, Spice Jet and more | Business Upturn

Stocks to watch: RIL, HUL, ICICI Bank, RBL Bank, IGL, Spice Jet and more

Watch these stocks today: Chennai Petroleum will release Q2FY23 results on Tuesday, October 25. Reliance Industries’ net profit remained unchanged at Rs 13,656 crore in Q2FY23.


The Singapore Exchange’s Nifty futures traded 25 points, or 0.14 percent, lower at 17,819, indicating that Dalal Street will have a bad start to the day on Tuesday.

Reliance Industries: The conglomerate’s performance was affected by windfall profit tax and reduced refining margins, which resulted in a flat net profit of Rs 13,656 crore in Q2FY23 compared to Rs 13,680 crore in the same quarter last year. Net profit decreased sequentially by 24% from Rs 17,955 crore. In the meantime, revenue rose 32.4% YoY to Rs 253,497 crore.

HUL: Despite ongoing weakness in rural markets, the FMCG giant increased net profit by 22.2% YoY to Rs 2,665 crore in Q2FY23, beating street predictions. Additionally, revenue climbed 16.1% YoY to Rs 15,144.0 crore from Rs 13,046.0 crore in Q2FY22. The management claimed that the company’s volumes increased by 4% despite a 3% decline in market growth.


ICICI Bank: With the help of fewer provisions and higher net interest income, the private sector lender’s Q2FY23 net profit increased by 37% YoY to Rs 7,558 crore. The lender’s NII increased 26% YoY to Rs 14,787 crore in Q2FY23 from Rs 11,690 crore in the comparable quarter.

Kotak Mahindra Bank: In Q2FY23, the lender’s consolidated net profit increased by 20.7% to Rs 3,608.18 crore from Rs 2,988.74 crore in the same quarter the previous year. In the meantime, NII increased by 26.8% YoY to Rs 5,099 crore during this time, and the net interest margin, a gauge of banks’ profitability, was 5.17 percent.

Indraprastha Gas: The retailer of CNG gas recorded a 4% YoY increase in net profit to Rs. 416.15 crore in Q2FY23 from Rs. 400.54 crore in the corresponding quarter the previous year. In comparison to Q2FY22, revenue nearly doubled to Rs 3,922.02 crore.


RBL Bank: The lender’s standalone net profit increased by 554% YoY to Rs 201.55 crore in Q2FY23, thanks to a steep drop in bad loan provisioning and a solid rise in net interest income. Meanwhile, RBL Bank’s net interest income increased by 16% year over year to Rs 1,064 crore.

Pharma stocks: The USFDA reports that major pharmaceutical companies like Dr. Reddy’s, Cipla, and Aurobindo Pharma have recalled several goods from the US market due to a variety of problems. Cipla has recalled 9,041 cartons of Arformoterol Tartrate Inhalation Solution, while Dr. Reddy’s has recalled 2,838 ampules of Phytonadione Injectable Emulsion.

SpiceJet: As of October 30, the three-month-long restrictions on the winter schedule will be eased, allowing the airline operator to fly more than 50% of its flights. The DCGA claims that the 50% cap on the number of flights coincided with the summer timetable, which ends on October 29.

Vodafone Idea: The telecom operator’s request to purchase Rs 1,600 crore in optionally convertible debentures (OCDs) from American Tower Corporation and utilise the revenues to settle the tower company’s debt was approved by the board.

Borosil Renewables: Borosil Renewables, a producer of solar glass, has paid an undisclosed fee for an 86 percent ownership in Interfloat Group, the largest producer of solar glass in Europe. According to the company, this acquisition will increase production of solar glass from the existing 450 tonnes per day to 750 tonnes per day.

Best Agrolife: The company’s consolidated net profit increased by more than five times, to Rs 129.81 crore for Q2FY23 from Rs 25.18 crore in the same quarter last year. The most recent quarter’s total revenue also more than doubled to Rs 701.17 crore.