Stocks to watch: SBI, Reliance, InterGlobe Aviation, Bank of Baroda, Titan and others

The stocks in focus as they release their September quarter earnings today are Coal India, BPCL, India Cements, Paytm, PB Fintech, and Aditya Birla Capital.

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The top 10 stocks that will be the focus of today’s attention are listed below:

State Bank of India: The largest lender in the nation, State Bank of India, has grown to be the most profitable company in the nation with a combined net income of Rs.14,752 crore in the third quarter of FY23. The standalone net of SBI increased by 74% to Rs.13,256 crore in the July–September quarter, setting a new record for the bank and outpacing all other typically more profitable businesses by a significant margin.

Reliance Industries: According to industry insiders, Reliance Industries is planning to buy the Cash & Carry division of German retailer METRO AG in India for approximately 500 million euros (Rs.4,060 crore). According to them, the acquisition comprises 31 wholesale distribution centres, land banks, and additional METRO Cash & Carry properties. Reliance Retail, the biggest retailer in the nation, would be able to increase its market share in the B2B sector thanks to this.

InterGlobe Aviation: On Friday, InterGlobe Aviation, the parent company of the nation’s largest airline IndiGo, reported a widening loss for the September quarter of Rs.1,583.34 crore due to increasing fuel prices and fluctuating exchange rates. In the most recent reporting period under scrutiny, it reported a loss of Rs.381.8 crore, excluding the foreign exchange loss of Rs.1,201.5 crore. The airline lost Rs.1,435.66 crore over the same time last year.

Maruti Suzuki: A senior business executive stated Maruti Suzuki India may raise its Manesar plant’s manufacturing capacity by one lakh units to meet the increased demand before its Sonipat facility begins operations in 2025. To meet the growing demand for its products, the largest automaker in the nation may potentially consider increasing the manufacturing facility’s production capacity in Gurugram. Currently, MSI’s combined annual manufacturing capacity at its Manesar and Gurugram factories is 15 lakh units.

Dr. Reddy’s Laboratories: According to CFO Parag Agarwal, Dr. Reddy’s Laboratories has budgeted around Rs. 1,500 crore for capital expenditures in FY23, the majority of which is planned to be used to expand the company’s biosimilar and injectable business capacity. The Hyderabad-based pharmaceutical company also intends to use the funds to expand the capacity of current plants, stabilise R&D pursuits, and make more investments in digital initiatives.

Triveni Engineering: Triveni Engineering & Industries Ltd., a sugar company, announced on Saturday that one-time gains had caused its consolidated profit to more than double to Rs.1,387.76 crore for the quarter ended in September. Its net profit during the prior fiscal year was Rs.92.47 crore. According to a regulatory filing, total revenue increased to Rs.1,483.33 crore in the second quarter of this fiscal from Rs.1,163.66 crore in the same period of the previous year.

Power Grid Corporation: State-owned Power Grid Corporation announced on Saturday that its consolidated net profit for the September quarter of FY23 increased by nearly 8% to Rs.3,650.16 crore, mostly due to increasing sales. According to a BSE filing, the company’s combined net profit for the three months ended September 30, 2021, was Rs.3,376.38 crore. From Rs.10,514.74 crore in the same time a year prior, the company’s overall revenue increased to Rs.11,349.44 crore in the quarter.

Sona BLW Precision Forgings: According to Group CFO Rohit Nanda, auto component manufacturer Sona BLW Precision Forgings Ltd (Sona Comstar) expects to invest up to Rs.1,000 Crore by FY25 to expand up capacity, primarily for the EV market. The company, a significant provider of systems and components for automobile manufacturers’ electrified and non-electrified powertrains, anticipates that by 2020, revenue from the electric vehicle (EV) segment would represent up to 45% of its overall revenue, up from the current 25%.

Bank of Baroda: The state-owned bank recorded a 59% increase in net profit for the second quarter that ended in September, to Rs.3,313 crore, thanks to a drop in bad loans and an increase in interest revenue. In the same quarter of the prior fiscal year, the institution reported a net profit of Rs.2,088 crore. For the second quarter of 2022–23, its total revenue increased from Rs.20,270.74 crore to Rs.23,080.03 crore.

Titan: The jewellery and watch manufacturer Titan Ltd. recorded a 30.26% increase in its consolidated net profit for the second quarter that ended in September 2022, coming in at Rs.835 crore rupees. This growth was aided by strong momentum throughout the holiday sales. According to a regulatory filing by Titan Ltd, the business reported a combined net profit of Rs.641 crore in the quarter from July to September of last year. Its overall revenue increased by 22.2% to Rs.9,224 crore from Rs.7,548 crore during the same fiscal period.

Supreme Industries/Supreme Petrochem: Companies affiliated with Supreme Industries and Supreme Petrochem have announced interim dividends. The Company has chosen November 9, 2022 as the Record Date for determining the eligibility of Shareholders to receive an Interim Dividend. The shares of both firms will begin trading ex-dividend today, November 7, 2022, as a result of the market being closed on Tuesday.