BackStocks to Watch: RIL, HDFC, Maruti, Wipro, Yes Bank, Tata Motors, Adani group
HDFC, Britannia Industries, Alembic Pharmaceuticals, Adani Wilmar, Castrol India, Devyani International, IDBI Bank, Inox Leisure, JBM Auto, Jindal Stainless, Mahindra & Mahindra Financial Services, Meghmani Organics, are among the key companies scheduled to announce their earnings today
PremiumNEW DELHI: Following are the stocks that could be in focus on Monday:
Reliance Industries: Is looking to build a mega land bank to set up renewable energy parks and projects, as the Mukesh Ambani-controlled conglomerate pivots from fossil fuels to clean energy. A land aggregation exercise is underway to set up solar power projects of 100GW by 2030.
HDFC: The mortgage lender on Sunday raised its benchmark retail prime lending rate (RPLR) by 5 basis points (bps), leading to an identical hike in home loan rates for existing customers. However, there will be no change in interest rates for new customers as they will get an additional discount of 5 bps on the benchmark, negating the hike in RPLR. HDFC will also announce its March quarter earnings today.
Maruti Suzuki: The country's largest carmaker Maruti Suzuki India has reported a 6% year-on-year decline in total wholesales to 1,50,661 units in April. Last month, Maruti's domestic sales slipped 7% on year to 1,32,248 units. The company posted a 51.1% year-on-year jump in consolidated net profit to ₹1,875.8 crore in the fourth quarter ended on March, despite chip shortages hampering production. Total revenue from operations stood at ₹26,749.2 crore as against ₹24,034.5 crore in the fourth quarter a year ago.
Wipro: Reported a 3.1% sequential rise in its dollar revenue to $2,721.7 million for the quarter ended March, while revenue in constant currency grew 3.1%. Wipro has guided for 1-3% sequential growth in Q1FY23 revenue at $2,748 million to $2,803 million. Profit during the March quarter rose 3.98% sequentially to ₹3,087.3 crore and revenue rose 2.68% to ₹20,860 crore.
Tata Motors: The company reported a 74% year-on-year jump in its total sales in April to 72,468 units. Tata Motors' domestic sales surged 81% on year to 71,467 units last month, while total passenger vehicle dispatches to dealers rose 66% to 41,587 units.
Adani group: Is lining up massive investments in the healthcare sector and may acquire large hospitals, diagnostic chains, and offline and digital pharmacies, among other assets, to establish a foothold in the sector. Top executives of the group, which runs businesses ranging from airports to seaports, recently met several foreign banks and global private equity investors, where they outlined the group’s plans in the healthcare business.
IndusInd Bank: Reported a 55.4% year-on-year rise in profit to ₹1,361.4 crore for the quarter ended March, as provisions declined 21.5% and asset quality improved. Net interest income grew 12.7 percent on year to ₹3,985.16 crore in Q4.
Yes Bank: The lender’s plan to set up an asset reconstruction company is on track and it expects to transfer all its bad loans to the entity by end of June. As on 31 March, Yes Bank's gross bad loans stood at ₹27,976 crore. The bank posted a net profit of ₹367 crore for the March quarter, as against a loss of ₹3,788 crore a year ago.
Biocon: Subsidiary Biocon Biologics said it can close the transaction of $3.34 billion Viatris' biosimilar business acquisition by as early as this quarter, if it gets a nod from regulatory agencies. In March, Biocon Biologics entered into a definitive agreement to acquire Viatris' biosimilars assets for $3.34 billion. The company will pay Viatris $2 billion in cash at the closing of the deal, and another $335 million in 2024.
Jet Airways: The airline, under its new promoters, will operate proving flights during the first half of May, as it is set to launch its commercial operations in the July-September quarter. During proving flights, or test flights, the airline’s staff, including those at the check-in-counter, engineers, pilots, cabin crew, and maintenance technicians follow activities mirroring real-time commercial operations.
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