Stocks to watch today: A choppy trade is on the cards on Monday for the Indian equity markets amid weak global cues and a 140 basis point rate hike by the Reserve Bank of India (RBI). As of 7:10 AM, the SGX Nifty Futures quoted 17,369 levels, down 28-odd points on the Nifty50.
In a holiday-shortened week, global cues, inflation numbers, last batch of India Inc’s June quarter earnings, and foreign flows will guide markets.
Meanwhile, here are few stocks that are likely to see action in trade on Monday:
Results today: Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid, Delhivery, AU Small Finance Bank, Indian Hotels Company, Vedant Fashions, Torrent Power, Whirlpool India, NALCO, City Union Bank, Avanti Feeds, Borosil, and Kalyani Steels will report their June quarter results (Q1FY23).
State Bank of India: India’s largest lender reported 6.7 per cent year-on-year (YoY) fall in net profit to Rs 6,068 crore in Q1FY23 from Rs 6,504 crore in the year-ago period, due to sharp fall in non-interest income due to market losses on investment book. Net interest income, however, grew 13 per cent YoY to Rs 31,196 crore in Q1FY23 on improved credit offtake. READ MORE
Titanium: The jewelery company reported a 13-fold jump in net profit to Rs 790 crore in Q1FY23 from Rs 18 crore in Q1FY22. Strong festive demand and normalcy post covid-19 helped the company clock second-best quarterly revenue to Rs 8,975 crore, up 199 per cent YoY. While the jewelery business saw income of Rs 7,600 crore, watches and wearables stood at Rs 786 crore. READ MORE
One97 Communications: The consolidated net loss of the fintech firm widened to Rs 644.4 crore in Q1FY23 from Rs 380.2 in the corresponding quarter of the previous year. The consolidated revenue from operations increased 89 per cent YoY to Rs 1,680 crore during the reported quarter from Rs 891 crore in Q1FY22. That apart, loan disbursements grew by over eight-fold to Rs 5,554 crore. READ MORE
FSN e-Commerce Ventures: The personal care player, which operates under the Nykaa brand, saw nearly 42 per cent YoY growth in consolidated net profit to Rs 5 crore in the April-June quarter of FY2 3. The consolidated revenue from operations of Nykaa increased by 41 per cent to Rs 1,148.42 crore in Q1FY23 from Rs 816.99 crore in June 2021 quarter. READ MORE
Fortis Healthcare: The healthcare major reported a 69 per cent decline in consolidated net profit at Rs 134 crore. Revenues in the period under review stood at Rs 1,488 crore as compared with Rs 1,410 crore in the year-ago period. The management foresees a brownfield expansion strategy to fuel the next phase of growth. READ MORE
BPCL: The state-run firm reported a net loss of Rs 6,291 crore in Q1FY23 from Rs 3,192.58 crore in Q1FY22, on holding fuel prices despite the rise in input costs. Revenue from operations, meanwhile, rose to Rs 1.38 lakh crore from Rs 89,688.98 crore in Q1FY22. Market sales, too, rose 11.76 million tonnes in Q1 2022-23 due to low base effect.
Indian Overseas Bank: The state-run bank plans to raise around Rs 1,000 crore through qualified institutional placements (QIP) to sustain business growth. That apart, the bank reported 20 per cent rise in net for Q1FY23 to Rs 392 crore. Meanwhile, an improvement was seen in the asset quality picture of the bank as gross non-performing assets (NPA) reduced to Rs 14,769 crore in Q1FY23.
PNB Housing: The housing finance company plans to re-enter the high-yielding corporate loans that it stopped two years back. Currently, with a corporate loan book size of Rs 6,006 crore, the management expects to come down further by Rs 1,000 crore by December. Selloffs and accelerated payments are likely to drive a 45 per cent YoY decline in the loan book.
Stocks in F&O ban: Balrampur Chini Mills, Delta Corporation, and Escorts were banned in the F&O ban period on Monday, August 8.