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Stocks to Watch: Reliance Industries, ICICI Bank, NBFCs, BPCL

On Friday, the Sensex closed 102 points lower while Nifty slipped 0.4%. Banks and financials gained, while IT and metals dragged. (Photo: Reuters)Premium
On Friday, the Sensex closed 102 points lower while Nifty slipped 0.4%. Banks and financials gained, while IT and metals dragged. (Photo: Reuters)

  • Tech Mahindra, Indus Towers, SRF, HDFC Assest Management Company, Coforge, Colgate Palmolive, Icra, Kansai Nerolac Paints, The Ramco Cements, Aditya Birla Sun Life AMC, Home First Finance Company India, CEAT and CSB Bank, among others, will announce their September quarter results today

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NEW DELHI: Here is the list of top 10 stocks that could be in focus on Monday:

Reliance Industries: The Mukesh Ambani-led oil-to-telecom conglomerate on Friday, after market hours, reported a consolidated net profit of 13,680 crore for the September quarter (Q2), up 43% year-on-year, on improved performance across key businesses. Consolidated revenues from operations was at 1.67 trillion, up 51% on year.

ICICI Bank: The private sector lender on Saturday reported its highest ever quarterly net profit of 5,511 crore for Q2FY22, an increase of 30% year-on-year. Profits rose on the back of a 19% growth in its domestic loan portfolio. Net non-performing assets fell below 1%, the lowest since 2014. Advances rose 17% year-on-year and 4% sequentially to 7,64,937 crore as on 30 September.

NBFCs: The Reserve Bank of India on Friday announced a limit on non-bank lenders financing subscriptions to initial share sales to stem the flow of large amounts of borrowed capital by high net worth individuals to such offerings. There shall be a ceiling of 1 crore per borrower for financing subscription to initial public offer (IPO), the central bank said.

Bharat Petroleum Corp: The divestment-bound oil marketing company said its board has approved the merger of the unit that operates the Bina oil refinery in Madhya Pradesh with itself.

JSW Steel: To offset rising input cost, domestic steel giant JSW Steel is planning to levy a surcharge on sale of its steel products to its long-term OEM (original equipment manufacturer) customers. JSW Steel will be the first company to introduce the concept of surcharge to the domestic steel market.

Gland Pharma: The drugmaker, which has an agreement with Russian sovereign fund RDIF to manufacture Sputnik vaccines, said it expects to get manufacturing and export licenses of the Sputnik Light vaccine from the government by November. The company reported a 30% year-on-year rise in revenue to 1,080.46 crore for Q2. Net profit was up 38% at 302.08.

SBI Cards and Payment Services: The company's board is scheduled to meet on 28 October to consider issuance of 2,000 crore worth NCDs.

Hindustan Zinc: Prioritisation of domestic coal supply to the power sector has to "some extent" hit Hindustan Zinc but the company has cushioned itself by tying up imported dry fuel supply till March. The company reported a 3.9% rise in its net profit to 2,017 crore for the quarter ended September.

Petronet LNG: India will bargain for supply of undelivered gas quantities of past years when it negotiates renewal of its multi-billion dollar LNG import deal with Qatar. Petronet LNG Ltd's 7.5 million tonnes a year liquefied natural gas (LNG) import deal with Qatargas is ending in 2028. Renewal, if any, has to be confirmed 5 years ahead of that.

Apollo Tyres: Plans to introduce its European brand Vredestein in India over a decade after acquiring it. The Netherlands-based premium tyre maker was acquired in 2009 to enter the European market. But the company did not introduce the brand in India given the small volumes in the premium segment and the market dominance of European tyre makers.

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