Stocks to Watch: SBI, Reliance, Indigo, Maruti, Dr Reddy’s, Powergrid

Here is the list of the top 10 stocks that will be in focus today:

State Bank of India: The country's largest lender State Bank of India has become the country's most profitable firm with a consolidated net income of ₹14,752 crore in the September quarter of FY23. SBI's standalone net soared 74% to ₹13,256 crore in the July-September quarter, making this the best-ever quarterly numbers for the bank and beating all other usually more profitable companies by a wider margin.

Reliance Industries: Reliance Industries is set to acquire German retailer METRO AG's Cash & Carry business in India in a deal estimated at around 500 million euros ( ₹4,060 crore), industry sources said. The deal includes 31 wholesale distribution centres, land banks and other assets owned by METRO Cash & Carry here, they said. This will help Reliance Retail, the country's largest retailer, expand its presence in the B2B segment.

InterGlobe Aviation: InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Friday posted a widening loss to ₹1,583.34 crore for the September quarter as higher fuel costs and exchange rates impacted the bottom line. It reported a loss of ₹381.8 crore, excluding the foreign exchange loss of ₹1,201.5 crore, in the latest quarter under review. The airline had a loss of ₹1,435.66 crore in the year-ago period.

Maruti Suzuki: Maruti Suzuki India may increase its Manesar plant production capacity by one lakh units to cater to the enhanced demand before its Sonipat facility commences operations in 2025, a senior company official said. The country's largest carmaker may also look at expanding production capacity at its Gurugram-based manufacturing facility to cater to the rising demand for its products. Currently, MSI has a cumulative production capacity of 15 lakh units per annum at both the Manesar and Gurugram plants.

Dr Reddy's Laboratories: Dr Reddy's Laboratories has earmarked a capex of around ₹1,500 crore for FY23 with a major part of it slated to go into building capacities for its biosimilar and injectable businesses, according to CFO Parag Agarwal. The Hyderabad-based drug major also plans to utilise the capital for adding capacities to existing plants, firm up R&D activities and further invest in digitisation projects.

Triveni Engineering: Sugar firm Triveni Engineering & Industries Ltd on Saturday reported a multi-fold jump in its consolidated profit to ₹1,387.76 crore for the quarter ended September on one-off gains. Its net profit stood at ₹92.47 crore in the year-ago period. Total income rose to ₹1,483.33 crore in the second quarter of this fiscal from ₹1,163.66 crore in the corresponding period of the previous year, according to a regulatory filing.

Powergrid Corporation: State-owned Power Grid Corporation on Saturday posted over an 8% rise in consolidated net profit at ₹3,650.16 crore in the September quarter of FY23, mainly on the back of higher revenues. The consolidated net profit of the company was ₹3,376.38 crore in the quarter ended on September 30, 2021, a BSE filing showed. The total income of the company rose to ₹11,349.44 crore in the quarter from ₹10,514.74 crore in the same period a year ago.

Sona BLW Precision Forgings: Auto components maker Sona BLW Precision Forgings Ltd (Sona Comstar) plans to invest up to ₹1,000 crore by FY25 to scale up capacity, majorly for EV business, according to Group CFO Rohit Nanda. The company, a major supplier of systems and components for the electrified and non-electrified powertrain segment to automobile manufacturers, expects revenue from the electric vehicle (EV) segment to account for up to 45% of its total revenue, up from 25% currently.

Bank of Baroda: State-owned Bank of Baroda on Saturday reported a jump of 59% in its net profit to ₹3,313 crore for the second quarter ended September on the back of a decline in bad loans and a rise in interest income. The lender had posted a net profit of ₹2,088 crore in the corresponding quarter of the previous fiscal. Its total income rose to ₹23,080.03 crore for the second quarter of 2022-23, compared to ₹20,270.74 crore a year ago.

Titan: Jewellery and watches maker Titan Ltd on Friday reported a 30.26% increase in consolidated net profit at ₹835 crore for the second quarter ended September 2022, helped by strong momentum during the festive sales. The company had posted a consolidated net profit of ₹641 crore in the July-September quarter a year ago, Titan Ltd said in a regulatory filing. Its total income rose 22.2% to ₹9,224 crore from ₹7,548 crore in the same period last fiscal.

Supreme Industries/Supreme Petrochem: Supreme Industries and Supreme Petrochem companies have declared interim dividends. The record date for determining whether shareholders are eligible to receive an interim dividend has been set by the company as Wednesday, November 9, 2022. Due to the market being shut on Tuesday, the shares of both companies will start trading ex-dividend today, November 7, 2022.