Stocks to Watch: RIL, ICICI Bank, HUL, Kotak Mahindra Bank, SpiceJet
- Chennai Petroleum Corporation and Nandani Creation will announce their quarterly result today. Nifty 50 and Sensex ended the special one-hour muhurat trading session on Monday with gains of 0.9% each
NEW DELHI: Here are the top 10 stocks that could be in focus on Tuesday:
Reliance Industries: Mukesh Ambani’s Reliance Industries Ltd (RIL) has said it will demerge its financial services business and list it separately on the stock exchanges under Jio Financial Services Ltd, in a move to tap growing demand for new-age financial services for retail and small-business customers.
ICICI Bank: India's second largest private sector lender has reported a 31.43% year-on-year jump in its September quarter consolidated net profit to ₹8,006.99 crore. On a standalone basis, ICICI Bank reported a 37.14% rise in September quarter net profit at ₹7,557.84 crore. Total income grew to ₹31,088 crore in the reporting quarter, while overall expenses climbed to ₹19,408 crore from ₹18,027 crore.
Kotak Mahindra Bank: On Saturday reported a 27% year-on-year rise in net profit to ₹2,581 crore for the quarter ended September. Total income during July-September period grew to ₹10,047 crore from ₹8,408 crore in the year-ago quarter, the bank said in a regulatory filing.
Hindustan Unilever: FMCG major Hindustan Unilever Ltd. on Friday reported a 22.19% rise in its consolidated net profit to ₹2,670 crore for the second quarter ended September, mainly helped by volume growth. Total income increased 16.44% during the quarter under review to ₹15,253 crore.
SpiceJet: India's aviation regulator has removed the 50% cap on SpiceJet, allowing it to operate all its flights from 30 October. The budget airline can now operate 3,193 flight departures weekly in the winter schedule, 6.6% more than what was approved for last year’s winter schedule. The winter schedule runs from 30 October to 25 March.
JSW Steel: JSW Steel on Friday reported a consolidated net loss of ₹915 crore for the quarter ended September. The company had posted a consolidated net profit of ₹7,179 crore in the year-ago period. However, total income during the quarter under review increased to ₹41,966 crore from ₹33,449 crore a year ago. Crude steel production was at 4.95 million tonnes, 21% higher on year.
Ambuja Cements: Ambuja Cements, now part of the Adani Group, on Friday reported a fall of 94.24% in its consolidated net profit at ₹51.30 crore for the September quarter, mainly due to rising fuel prices and related inflationary impact. The company had clocked a net profit of ₹890.67 crore in the year-ago quarter, Ambuja Cements said in a BSE filing. Its revenue from operations rose 7.46% to ₹7,143.17 crore as compared to ₹6,647.13 crore in the corresponding quarter of the previous financial year.
Vodafone Idea: Vodafone Idea Ltd’s board on Friday approved a plan to sell ₹1,600 crore worth of convertible bonds to ATC Telecom Infrastructure. The funds will be used by Vodafone Idea to pay some of the pending dues to the tower operator for renting its assets to provide mobile phone services in India. The telco said it would sell 16,000 optionally convertible, unsecured, unrated and unlisted debentures of ₹10 lakh each in one or more tranches.
Hindustan Zinc: Vedanta group firm Hindustan Zinc on Friday reported a 32.8% rise in consolidated net profit at ₹2,680 crore for the quarter ended September 2022 on the back of factors like higher zinc volumes and prices and gains from strategic hedging. The company had posted a consolidated net profit of ₹2,017 crore in the year-ago period, Hindustan Zinc said in a filing to BSE. The company's CEO Arun Misra said that both metal and silver production have gone up and this has contributed to EBIDTA.
UPL: Private equity firms KKR, Brookfield and TPG, and sovereign wealth fund Abu Dhabi Investment Authority (ADIA) will invest a total of $500 million (about ₹4,040 crore) to buy minority stakes in group companies of Mumbai-based agrochemicals company UPL Ltd including its Advanta Enterprises Ltd unit.
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