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Business News/ Markets / Stock Markets/  Stocks to Watch: Maruti, Airtel, SBI, Power Grid, Kotak Bank, Gail India
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Stocks to Watch: Maruti, Airtel, SBI, Power Grid, Kotak Bank, Gail India

Cholamandalam Investment, Adani Total, PVR Inox, Escorts Kubota, and Bikaji Foods International are some of the companies that will be in focus today as they will declare their quarterly earnings

Stocks to Watch for Tuesday (AP Photo/Andy Wong)Premium
Stocks to Watch for Tuesday (AP Photo/Andy Wong)

Here are the top 10 stocks that could be in focus in today's trade:

Maruti Suzuki: Maruti Suzuki India, the largest passenger car manufacturer in the country, reported a standalone net profit of 2,485.1 crore in the quarter ended June 2023. The company’s net profit jumped by a robust 145% as compared to 1,012.8 crore in the same quarter last year. This was on account of larger sales volume, improved realization, cost reduction efforts and higher non-operating income. However, the company’s net profit declined sequentially from 2,623.6 crore in the March quarter.

Bharti Airtel: Bharti Airtel Ltd prepaid 8,024 crore ahead of schedule to clear part of its deferred liabilities for the spectrum acquired in 2015 as part of a plan to save costs. “The said instalments had an interest rate of 10% and have been prepaid by Airtel, leveraging much lower cost financing available to it," the telco said in a statement on Monday, noting that the amount was paid to the Department of Telecommunications. Airtel continues to enjoy access to well-diversified sources of capital or financing, allowing it to have enhanced financial flexibility in its capital structure.

State Bank of India: India's largest lender State Bank of India (SBI) announced on Monday that it raised 10,000 crore after issuing 15-year infrastructure bonds at the coupon rate of 7.54%. The bank said that the proceeds will be directed towards bolstering long-term resources for funding critical infrastructure projects and supporting the affordable housing segment. SBI said that the bank attracted bids of Rs. 21,698 crores, a staggering 4.34 times the base issue size, indicating robust demand for these financial instruments.

Power Grid Corporation: Power Grid Corporation of India announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 31, reporting a decline of 5.9 per cent in standalone net profit at 3,542.7 crore, compared to 3,766 crore in the corresponding period last year. The state-owned power major's revenue from operations during the first quarter of the current fiscal stood at 10,436 crore, registering a marginal decline of 0.1 per cent, compared to 10,446 crore in the year-ago period.

Kotak Bank: Kotak Mahindra Bank denied a news report that the RBI wants the private sector lender to pick an outsider as chief executive after founder Uday Kotak’s tenure ends in December. “We would like to state that there is no communication, formal or informal, from RBI to Kotak Mahindra Bank or its board members on CEO succession," the bank said in a media statement. On Monday, Bloomberg reported that RBI is “nudging Kotak Mahindra Bank Ltd to select someone outside the lenders’ ranks to succeed Uday Kotak as the next chief executive officer".

GAIL India: GAIL announced its April-June quarter results for fiscal 2023-23 (Q1FY24) on July 31, reporting a decline of 45 per cent in consolidated net profit at 1,793 crore, compared to 3,250 crore in the corresponding period last year. The leading gas distributer's revenue from operations during the first quarter of the current fiscal fell 13 per cent to 32,848 crore, compared to 37,942 crore in the year-ago period. Sequentially, GAIL's net profit surged 179 per cent in the June quarter, from 643 crore in the quarter ended March 2023.

Adani Green Energy/Adani Energy Solutions: Adani Energy Solutions Limited (AESL) has released its consolidated results for Q1FY24, showing a notable 19% year-on-year increase in revenue. The company also reported substantial growth in PBT of 343 crore, representing a 70% YoY rise. Meanwhile, Adani Green Energy Ltd reported a 51% YoY rise in its consolidated net profit at 323 crore for the quarter ended June 2023. The company posted a net profit of 214 crore in the same quarter last year.

Castrol India: Engine oil maker Castrol India reported a 9% rise in second-quarter profit on Monday, helped by higher sales volumes. The Mumbai-based firm's profit after tax rose to 2.25 billion rupees ($27.4 million) for the June quarter from 2.06 billion rupees a year earlier. Castrol's revenue from operations increased 7.4% to 13.34 billion. The company focused on increased volumes to drive growth as it expanded its portfolio in the premium auto-care range, Castrol said in a statement.

Dhanlaxmi Bank: Private sector Dhanlaxmi Bank on Monday recorded a net profit of 28.30 crore in the April-June quarter, mainly due to a decline in bad loans. The lender had posted a net of 26.43 crore in the year-ago period. The total income in the first quarter of the current fiscal rose to 5,857 crore against 3,797 crore. The lender's interest income also increased to 341.40 crore from 236.82 crore in the same quarter a year ago. On the asset quality side, the bank witnessed improvement with the gross NPAs easing to 5.21% of the gross advances by June 2023 from 6.35% a year ago.

Bosch: Bosch Limited announced their net consolidated results for the April-June quarter on Monday and posted a 22.5% jump in their net profits which reached 409.8 crore from 334.1 crore during the same quarter previous fiscal. The revenue of the company rose 17.3% to 4,158.4 crore during the period under review against 3,544.4 crore during Q1Fy23. The jump in revenue was mainly due to increased sales of Exhaust Gas Temperature (EGT) components in passenger cars and commercial vehicle segment, outperforming the market.

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Published: 01 Aug 2023, 07:24 AM IST
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