BackStocks to Watch: RIL, Maruti Suzuki, Ultratech, AU SFB, Cipla, IDFC First Bank
Adani Green, Marico, TVS Motor, UPL, P&G Health, GMR Airports Infra, Blue Star, and Emkay Global Finance, will be among the stocks to watch on Monday as they will be declaring their quarterly earnings report
PremiumHere are the top stocks that could be in focus in today's trade:
Reliance Industries: Mukesh Ambani's Reliance Industries Limited reported a 27% rise in its net consolidated profit to ₹17,394 crore in the July-September quarter of the financial year 2023-24. The Indian conglomerate earned a net profit of ₹16,011 crore in the September quarter of the previous financial year. The company shares closed 1.75% higher at ₹2265.25 per share on BSE on Friday.
Maruti Suzuki: Maruti Suzuki India Ltd is seeing a surge in deliveries as it fulfils long-standing orders for new models amid easing chip availability and high consumer interest during the ongoing festive season. The carmaker delivered over 310,000 units, a growth of 19% year-on-year in the 70-day period between 17 August, the start of the Chingam month, which kicks off Onam festivities in Kerala, and the end of the Navratri period on 24 October, a top company executive said.
Ultratech Cement: UltraTech Cement Limited has approved a fresh investment of ₹13,000 crore to increase its capacity by another 21.9 MTPA with a mix of brownfield and greenfield projects, the company wrote in an exchange filing on Saturday. This new investment, which has been approved by the board, will help the firm achieve a capacity of 182 MTPA in India by setting up four greenfield and four brownfield plants, apart from four greenfield bulk terminals, UltraTech added.
AU Small Finance Bank: In a recent disclosure on Sunday, AU Small Finance Bank made public its board's decision to merge with the soon-to-IPO Fincare Small Finance Bank. As per the agreement, shareholders of Fincare Small Finance Bank are set to receive 579 equity shares of AU Small Finance Bank for every 2,000 shares they currently hold. However, the finalization of this consolidation hinges on the approval of the Reserve Bank of India and the Competition Commission of India.
Cipla: Cipla Ltd posted a 43.4% rise in consolidated net profit for the quarter ended September to ₹1,130.91 crore, against ₹788.90 crore in the corresponding quarter of last year. The drug major’s Q2FY24 revenue increased 14.6% from a year ago from ₹5,828.54 crore to ₹6,678.15 crore, driven by performance in India, the US, and South Africa, it said in an exchange filing on Friday. Ebitda during the quarter grew 33.1% y-o-y to ₹1,734 crore with an Ebitda margin of 26%.
IDFC First Bank: IDFC First Bank recorded a net profit of ₹751.3 crore in the second quarter of fiscal year 2023-24 (Q2FY24), which is up by 35% from ₹556 crore in the year-ago period, as per the standalone results declared by the lender on October 28. The private sector bank's net interest income (NII) during the quarter under review came in at ₹3,950.2 crore, rising by 31.6% from ₹3,002.2 crore reported in the corresponding period of the previous fiscal.
NTPC: NTPC announced its July-September quarter results for fiscal 2023-23 (Q2FY24) on October 28, reporting a rise of 16.6 per cent in consolidated net profit at ₹3,885 crore, compared to ₹3,331 crore in the corresponding period last year. The state-owned power generator's revenue from operations in the second quarter of the current fiscal stood at ₹40,875 crore, marginally lower compared to ₹41,015 crore in the year-ago period.
Bharti Airtel: Airtel, a prominent telecommunications service provider in India, has revealed a partnership with Microsoft to provide Indian businesses with calling services on Microsoft Teams through an integration with Airtel IQ. Through Airtel IQ integrated with Microsoft Teams, businesses in India will soon gain enhanced flexibility to connect with customers nationwide via fixed-line internet connections, claims Airtel.
Adani Enterprises: Despite a warning by the airport tariff regulator on unapproved tariff, the Adani Group has introduced ‘general aviation charges’ for private jet operators at six of its airports, two people familiar with the development said. The operator is levying over ₹ 1,000 for every passenger on private aircraft operators for a week, one of the people said on condition of anonymity.
Union Bank: Union Bank of India Q2 results: The government lender reported a whopping 90% rise in its net standalone profit to ₹3,511 crore in the September quarter of Financial year 2023-24. The bank reported a profit of ₹1,847.7 crore in the September quarter of FY 2022-23. Union Bank of India's net NPA reduced to 1.30% in the quarter under review from 2.64% in the year-ago period.
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