Stocks to Watch: HDFC Bank, Jio Financial, Grasim, SpiceJet, ICICI Securities

Here are the top stocks that could be in focus in today's trade:

HDFC Bank: HDFC Bank Ltd on Monday reported a 51% jump in profit in the September quarter, beating analysts’ estimates, on higher other income and lower provisions. The bank saw net profit rise to ₹15,976 crore in the quarter that ended 30 September from ₹10,605 crore in the year-ago period. That exceeded analysts’ estimates of ₹14,120 crore in a Bloomberg survey. The bank saw its net interest margin (NIM) narrow to 3.6% at the end of September from 4.1% in the preceding quarter.

Jio Financial Services: Reliance Industries Ltd-backed Jio Financial Services on Monday reported a net profit of ₹668.2 crore, doubling from the previous quarter on the back of higher income from operations. This is the first financial result of the company after it got listed on the stock exchanges on 21 August. The company's total revenues stood at ₹608 crore in the September quarter, up 47% from the sequential quarter.

Grasim: Grasim Industries is set to raise funds up to ₹4,000 crore via rights issue, the Aditya Birla subsidiary announced on Monday. The fundraising plan received a green signal from the board of Grasim Industries Limited on Monday. The approval was given to raise funds by way of a rights issue to the eligible equity shareholders. The company aims to utilise the fund in executing its capital expenditure plan, repay existing borrowings, and support general corporate purposes.

SpiceJet: Lease Finance BV, the engine lessor for budget airline SpiceJet, on Monday, informed the Delhi High Court that it is deferring its case against the airline to February due to an interim settlement between the two. Progress of the case will now depend on SpiceJet's ability to comply with the given schedule for the return of engines. As per the agreement, SpiceJet will pay over $2 million to Engine Lease Finance by January and will return the leased engine by 25 January.

ICICI Securities: Brokerage firm ICICI Securities on October 16 posted a net profit of ₹424 crore in the quarter ending September 2023, marking a surge of 41% as compared to the year-ago period. In the second quarter of FY23, the company's profit after tax stood at ₹300.4 crore, as per the regulatory filing. The total income in Q2FY24 came in ₹1,249 crore, which is 44% higher than ₹865.63 crore reported in the September 2022 quarter.

Cyient DLM: Cyient DLM Limited reported a net profit of ₹14.6 crores in Q2FY24 compared to ₹0.71 crore in the corresponding period of FY22-23. This was a 106.4% rise, said the company in a stock regulatory report. The firm also said that revenue from operations climbed 71.5% at ₹291.8 crore in the September quarter of FY 23-24, compared to ₹171.55 crore.

Delta Corp: Two entities -- Bofa Securities Europe and Societe Generale -- on Monday offloaded shares of Delta Corp Ltd for ₹56 crore through open market transactions. Following the sale, shares of Delta Corp tumbled 8.18% to close at ₹128.55 apiece on the NSE. According to the bulk deal data available with the National Stock Exchange (NSE), Bofa Securities Europe SA sold 30.08 lakh shares and Societe Generale disposed of 13.58 lakh shares of Delta Corp Ltd.

Tata Power: Tata Power Renewable Energy Ltd (TPREL) on Monday said it has signed an agreement with Endurance Technologies Ltd for setting up a 12.5 MW captive solar plant in Maharashtra. It has already signed a Power Delivery Agreement (PDA) with Endurance Technologies Ltd through a Special Purpose Vehicle (SPV) TP Green Nature Ltd in this regard, TPREL said in a statement. The plant will be set up at Aachegaon in Maharashtra and will generate 27.5 million units every year.

CEAT: CEAT posted ₹208 crore of net profit in the September quarter on a yearly basis. Its revenue was up 5.5% at ₹3,053.3 crore in the second quarter of FY 2023-24, compared to ₹2,894.5 crore a year ago. Apart from this, the firm registered an EBITDA of ₹456.1 crore for the September quarter of FY 23-24, compared to ₹203.1 crore a year ago. The EBITDA margin was registered at 14.9% compared to 7% a year ago.

Nelco: Nelco reported a surge of 27.29% in net profit to ₹5.69 crore compared to the ₹4.47 crore reported in the same period last year. In the previous quarter (Q1FY24), the company recorded a consolidated net profit of ₹5.73 crore. During the September quarter, the consolidated revenue from operations stood at ₹76.65 crore, marking a slight increase over the ₹75.44 crore in revenue reported in the September 2022 quarter.

Yatra Online: Yatra Online Ltd posted a 2.74% growth in its net profit at ₹5.99 crore for the first quarter ended June 30 of the fiscal year 2024. In the same quarter last fiscal, the company had reported a net profit of ₹5.83 crore. In an exchange filing, Yatra Online said that its revenue from operations in the first quarter rose to ₹110.17 crore as compared to ₹88.96 crore in the year-ago period.