Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, fund raising and appointments, here’s a quick look at which stocks will be in focus in today's trade:
UltraTech Cement, Union Bank of India, Bajaj Housing Finance, 360 ONE WAM, Authum Investment & Infrastructure, Aurionpro Solutions, Bhansali Engineering Polymers, CG Power and Industrial Solutions, City Union Bank, Cyient DLM, Gravita India, HFCL, Jana Small Finance Bank, Mahindra Logistics, NELCO, Route Mobile, Solara Active Pharma Sciences, and Supreme Petrochem will release quarterly earnings on October 21.
HDFC Bank Q2 (standalone YoY)
Profit grows 5.3% to Rs 16,821 crore Vs Rs 15,976.1 crore
Net interest income increases 9.9% to Rs 30,107.9 crore Vs Rs 27,385.2 crore
Gross NPA rises to 1.36% Vs 1.33% (QoQ)
Net NPA climbs to 0.41% Vs 0.39% (QoQ)
Provisions and contingencies drop to Rs 2,700.5 crore Vs Rs 2,903.8 crore (YoY), but down from Rs 2,602.06 crore (QoQ)
HDFC Bank to sell Rs 10,000 crore worth shares of HDB Financial Services via offer-for-sale in the proposed Rs 12,500-crore IPO, fresh issue size is Rs 2,500 crore
HDFC Bank completes sale of 91% stake in HDFC Education for Rs 174.72 crore to Vama Sundari Investments
Kotak Mahindra Bank Q2 (Standalone YoY)
Profit increases 4.8% to Rs 3,343.7 crore Vs Rs 3,191 crore
Net interest income jumps 11.5% to Rs 7,019.6 crore Vs Rs 6,296.6 crore
Provisions and contingencies surge to Rs 660.4 crore Vs Rs 366.55 crore
Provisions and contingencies increase to Rs 660.4 crore Vs Rs 578.5 crore (QoQ)
Net NPA rises to 0.43% Vs 0.35% (QoQ)
Gross NPA climbs to 1.49% Vs 1.39% (QoQ)
Kotak Mahindra Bank to acquire personal loan book of Standard Chartered Bank, India
Tech Mahindra Q2 (Consolidated QoQ)
Profit zooms 46.8% to Rs 1,250.1 crore Vs Rs 851.5 crore
Other income spikes 260.4% to Rs 521.5 crore Vs Rs 144.7 crore
Revenue increases 2.4% to Rs 13,313.2 crore Vs Rs 13,005.5 crore
Dollar revenue climbs 1.9% to $1,588.7 million Vs $1,558.9 million
EBIT grows 16.2% to Rs 1,280.4 crore Vs Rs 1,102.3 crore
Margin expands to 9.6% Vs 8.5%
New deal wins at $603 million Vs $534 million
Tata Consumer Products Q2 (Consolidated YoY)
Profit rises 0.04% to Rs 359.3 crore Vs Rs 359.2 crore
Revenue grows 12.9% to Rs 4,214.5 crore Vs Rs 3,733.8 crore
EBITDA jumps 16.6% to Rs 626.3 crore Vs Rs 537.1 crore
Margin expands 50 bps to 14.9% Vs 14.4%
RBL Bank Q2 (Standalone YoY)
Profit plunges 24% to Rs 223 crore Vs Rs 294 crore
Net interest income grows 9% to Rs 1,615 crore Vs Rs 1,475 crore
Net interest margin drops to 5.04% Vs 5.54%
Tax expenses stand Rs 69.04 crore Vs tax write-back at Rs 203.45 crore
Net NPA rises to 0.79% Vs 0.74% (QoQ)
Gross NPA climbs to 2.88% Vs 2.69% (QoQ)
Multi Commodity Exchange of India Q2 (Consolidated YoY)
Profit stands at Rs 153.6 crore Vs loss of Rs 19.1 crore
Revenue spikes 73% to Rs 285.6 crore Vs Rs 165.11 crore
EBITDA at Rs 179.4 crore Vs EBITDA loss of Rs 28.7 crore
UCO Bank Q2 (Standalone YoY)
Profit surges 50% to Rs 602.7 crore Vs Rs 401.7 crore
Net interest income grows 20% to Rs 2,300.3 crore Vs Rs 1,916.6 crore
Gross NPA drops to 3.18% Vs 3.32% (QoQ)
Net NPA falls to 0.73% Vs 0.78% (QoQ)
Jindal Saw Q2 (Consolidated YoY)
Profit surges 33.6% to Rs 475.3 crore Vs Rs 355.8 crore
Revenue rises 1.9% to Rs 5,571.9 crore Vs Rs 5,466.2 crore
EBITDA grows 13.7% to Rs 914.1 crore Vs Rs 804 crore
Margin expands to 16.4% Vs 14.7%
Dalmia Bharat Q2 (Consolidated YoY)
Profit tanks 60.5% to Rs 49 crore Vs Rs 124 crore
Revenue declines 2.09% to Rs 3,087 crore Vs Rs 3,153 crore
EBITDA falls 26.8% to Rs 434 crore Vs Rs 593 crore
Margin drops 470 bps to 14.1% Vs 18.8%
Oberoi Realty Q2 (Consolidated YoY)
Profit jumps 29% to Rs 589.4 crore Vs Rs 456.8 crore
Revenue grows 8.4% to Rs 1,319.9 crore Vs Rs 1,217.4 crore
EBITDA increases 27.5% to Rs 813.8 crore Vs Rs 638.2 crore
Margin expands sharply to 61.6% Vs 52.4%
Mangalore Refinery & Petrochemicals Q2 (Standalone YoY)
Loss stands at Rs 682.3 crore Vs profit of Rs 1,059.3 crore
Revenue jumps 29% to Rs 24,967.9 crore Vs Rs 19,353.3 crore
PC Jeweller Q2 (Consolidated YoY)
Profit stands Rs 178.9 crore Vs loss of Rs 138.1 crore
Revenue grows 12.4% to Rs 505 crore Vs Rs 449.2 crore
Finance cost drops significantly to Rs 1.6 crore Vs Rs 123.7 crore
L&T Finance Q2 (Consolidated YoY)
Profit jumps 16.9% to Rs 695.6 crore Vs Rs 595.1 crore
Revenue rises 25.06% to Rs 4,019.3 crore Vs Rs 3,213.8 crore
Jio Financial Services Q2 (Consolidated YoY)
Profit rises 3.1% to Rs 689.07 crore Vs Rs 668.2 crore
Revenue from operations grows 14.05% to Rs 693.5 crore Vs Rs 608 crore
Mastek Q2 (Consolidated YoY)
Profit jumps 104.8% to Rs 128.7 crore Vs Rs 62.8 crore
Revenue grows 13.3% to Rs 867.4 crore Vs Rs 765.5 crore
Netweb Technologies Q2 (YoY)
Profit spikes 70% to Rs 25.7 crore Vs Rs 15.14 crore
Revenue zooms 73.2% to Rs 251.06 crore Vs Rs 144.98 crore
Rossari Biotech Q2 (Consolidated YoY)
Profit climbs 7.2% to Rs 35.3 crore Vs Rs 32.9 crore
Revenue increases 3.1% to Rs 498.4 crore Vs Rs 483.5 crore
Punjab & Sind Bank Q2 (YoY)
Profit grows 26.7% to Rs 239.6 crore Vs Rs 189.09 crore
Net interest income jumps 29.3% to Rs 872.9 crore Vs Rs 674.9 crore
Gross NPA falls to 4.21% Vs 4.72% (QoQ)
Net NPA drops to 1.46% Vs 1.59% (QoQ)
Lloyds Engineering Works Q2 (YoY)
Profit zooms 48.7% to Rs 27.9 crore Vs Rs 18.8 crore
Revenue jumps 74.2% to Rs 212.1 crore Vs Rs 121.8 crore
Indostar Capital Finance Q2 (Consolidated YoY)
Profit grows 27.9% to Rs 31.7 crore Vs Rs 24.8 crore
Net interest income surges 68.2% to Rs 157.2 crore Vs Rs 93.5 crore
Stocks To Watch
Jsquare Electrical Steel Nashik, a wholly owned subsidiary of JSW JFE Electrical Steel—a 50:50 joint venture between JSW Steel and JFE Steel Corporation—has entered into a share purchase agreement to acquire 100% stake in thyssenkrupp Electrical Steel India for Rs 4,051.4 crore.
The Reserve Bank of India has lifted the restrictions imposed on JM Financial Products, a material subsidiary of the company, with immediate effect. The RBI had restricted the company from financing against shares and debentures in March this year. Now, the company is allowed to provide financing against shares and debentures.
The pharma company has received final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Diltiazem Hydrochloride extended-release capsules USP in 120 mg, 180 mg, and 240 mg. These capsules are used for the treatment of hypertension.
The company has acquired 3 acres of land in Ahmedabad, which has a development potential of 0.9 million square feet of saleable area. This area comprises premium residential apartments with an estimated booking value of Rs 1,300 crore.
The dairy company has completed the acquisition of a 35.23-acre land parcel in Dharashiv, Maharashtra, for setting up a plant.
The company has incorporated its step-down subsidiary, Wipro Life Science Solutions, LLC, in the US, effective October 10, to explore new business opportunities in the life sciences segment.
Garden Reach Shipbuilders & Engineers
The company has received letters of intent for a contract worth Rs 491 crore from the Ministry of Defence. The contract involves the design, development, construction, integration of equipment, testing, certification, commissioning, and supply of one Acoustic Research Ship (ARS).
The Bank of Tanzania has approved the sale of assets and liabilities of Canara Bank Tanzania to Exim Bank Tanzania, leading to the eventual winding up of Canara Bank Tanzania.
The Board will consider fundraising via the issuance of equity shares or any other instruments on October 23. Additionally, the company's wholly owned step-down subsidiary, PathPartner Technology GmbH in Germany, has been voluntarily liquidated effective October 2.
Vinit Kumar Tiwari has resigned as the Chief Executive Officer of the cement company, effective October 18, due to personal reasons.
The company has signed a draft joint venture agreement with Madhya Pradesh State Mining Corporation (MPSMCL) for carrying out exploration and mining activities, including value addition projects in Madhya Pradesh. This agreement is subject to the approval of the respective Boards and the Government.
CG Power and Industrial Solutions
The Board will meet on October 21 to consider fundraising via the issuance of equity shares, debentures, warrants, preference shares, or any other equity-linked securities.
The Board has approved the issuance of equity shares or other convertible securities worth up to Rs 1,500 crore via Qualified Institutions Placement.
The lender has increased its marginal cost of funds-based lending rate for tenure of more than six months by 5 basis points from 9% to 9.05%, effective October 19.
The company has executed a Share Purchase Agreement with Rcapital, Liam Marc Bevington, Kevin Andrew Mooney, and Paul Brian Young for the acquisition of 100% shareholding in Trac Precision Solutions. Trac specializes in designing and manufacturing precision-engineered components for the aviation, defence, and power generation markets, with a presence in the United Kingdom.
The company has signed a Memorandum of Understanding (MoU) with Perbadanan Kemajuan Pertanian Selangor (Selangor Agricultural Development Corporation), a government entity from the state of Selangor, Malaysia, for joint collaboration for the supply of frozen boneless buffalo meat and exploring other initiatives.
Bulk Deals
iShares Global Clean Energy UCITS ETF bought a 0.52% stake in the company at an average price of Rs 222.3 per share, amounting to Rs 151.72 crore.
iShares Global Clean Energy UCITS ETF and iShares Global Clean Energy ETF sold a 1.42% stake in the company at an average price of Rs 1,681.39 per share, valued at Rs 73.52 crore.
iShares Global Water UCITS ETF bought a 1.03% stake in the company at an average price of Rs 1,875.14 per share, valued at Rs 120.2 crore. However, UBS Principal Capital Asia sold a 0.81% stake at an average price of Rs 1,869.73 per share, amounting to Rs 94.32 crore.
Stock Turns Ex-Dividend
JNK India
F&O Ban
Aarti Industries, Birlasoft, Bandhan Bank, Chambal Fertilisers and Chemicals, GNFC, Granules India, Hindustan Copper, IDFC First Bank, Indian Energy Exchange, L&T Finance, National Aluminium Company, Punjab National Bank, SAIL, Tata Chemicals
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