Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, acquisitions, and order wins, here’s a quick look at which stocks will be in focus in today's trade:
Geojit Financial Services will announce its quarterly earnings today.
Reliance Industries Q2 (Consolidated YoY)
Profit grows 14.3% to Rs 22,092 crore Vs Rs 19,323 crore
Gross revenue increases 9.9% to Rs 2.83 lakh crore Vs Rs 2.58 lakh crore
EBITDA jumps 14.6% to Rs 50,367 crore Vs Rs 43,934 crore
EBITDA margin expands 80 bps to 17.8% Vs 17%
Jio Platforms Q2 (YoY)
Profit soars 12.8% to Rs 7,379 crore Vs Rs 6,539 crore
Gross revenue rises 14.9% to Rs 42,652 crore Vs Rs 37,119 crore
EBITDA surges 17.7% to Rs 18,757 crore Vs Rs 15,931 crore
EBITDA margin expands 140 bps to 51.6% Vs 50.2%
Average revenue per user (ARPU) grows to Rs 211.40 Vs Rs 195.10
HDFC Bank Q2 (Standalone YoY)
Profit grows 10.8% to Rs 18,641.3 crore Vs Rs 16,821 crore
Net interest income increases 4.8% to Rs 31,551.5 crore Vs Rs 30,113.9 crore
Provisions & contingencies soars 29.6% to Rs 3,500.5 crore Vs Rs 2,700.5 crore
Gross NPA falls to 1.24% Vs 1.40% (QoQ)
Net NPA declines to 0.42% Vs 0.47% (QoQ)
ICICI Bank Q2 (standalone YoY)
Profit rises 5.2% to Rs 12,358.9 crore Vs Rs 11,745.9 crore
Net interest income grows 7.4% to Rs 21,529.5 crore Vs Rs 20,048 crore
Provisions & contingencies plunge 26% to Rs 914.11 crore Vs Rs 1,233.1 crore
Gross NPA drops to 1.58% Vs 1.67% (QoQ)
Net NPA slips to 0.39% Vs 0.41% (QoQ)
UltraTech Cement Q2 (Consolidated YoY)
Profit zooms 75.2% to Rs 1,231.6 crore Vs Rs 702.8 crore
Revenue grows 20.3% to Rs 19,606.9 crore Vs Rs 16,294.4 crore
IndusInd Bank Q2 (Standalone YoY)
Loss stands at Rs 444.8 crore Vs profit of Rs 1,325.5 crore
Net interest income falls 17.5% to Rs 4,409.4 crore Vs Rs 5,347.3 crore
Provisions & contingencies jump 44% to Rs 2,622.4 crore Vs Rs 1,820.1 crore
Gross NPA drops to 3.60% Vs 3.64% (QoQ)
Net NPA slips to 1.04% Vs 1.12% (QoQ)
Punjab National Bank Q2 (Standalone YoY)
Profit jumps 13.9% to Rs 4,903.7 crore Vs Rs 4,303.5 crore
Net interest income declines 0.5% to Rs 10,468.8 crore Vs Rs 10,516.7 crore
Provisions and contingencies soar 123.3% to Rs 643.1 crore Vs Rs 288 crore
Gross NPA drops to 3.45% Vs 3.78% (QoQ)
Net NPA falls to 0.36% Vs 0.38% (QoQ)
IDBI Bank Q2 (Standalone YoY)
Profit zooms 97.5% to Rs 3,627.4 crore Vs Rs 1,836.5 crore
Net interest income falls 15.2% to Rs 3,285 crore Vs Rs 3,875.5 crore
Other inome surges 89.6% to Rs 2,489.4 crore Vs Rs 1,312.7 crore
Provisions and contingencies write-back at Rs 652.62 crore Vs provisions at Rs 555.2 crore
Gross NPA falls to 2.65% Vs 2.93% (QoQ)
Net NPA flat at 0.21% (QoQ)
RBL Bank Q2 (Standalone YoY)
Profit drops 20% to Rs 179 crore Vs Rs 223 crore
Net interest income declines 4% to Rs 1,551 crore Vs Rs 1,615 crore
Provisions and contingencies fall 19.2% to Rs 499.7 crore Vs Rs 618.3 crore
Gross NPA slips to 2.32% Vs 2.78% (QoQ)
Net NPA rises to 0.57% Vs 0.45% (QoQ)
Yes Bank Q2 (Standalone YoY)
Profit grows 18.3% to Rs 654 crore Vs Rs 553 crore
Net interest income increases 4.6% to Rs 2,301 crore Vs Rs 2,200 crore
Provisions and contingencies soar 41% to Rs 419 crore Vs Rs 297.1 crore
Gross NPA unchanged at 1.6% (QoQ)
Net NPA flat at 0.3% (QoQ)
Federal Bank Q2 (Standalone YoY)
Profit declines 9.6% to Rs 955.3 crore Vs Rs 1,056.7 crore
Net interest income rises 5.4% to Rs 2,495.2 crore Vs Rs 2,367.2 crore
Provisions & contingencies surge 129.3% to Rs 363.1 crore Vs Rs 158.4 crore
Gross NPA falls to 1.83% Vs 1.91% (QoQ)
Net NPA unchanged at 0.48% (QoQ)
Board to meet on October 24 to consider proposal for raising of funds
Bank Of India Q2 (Standalone YoY)
Profit increases 7.6% to Rs 2,554.6 crore Vs Rs 2,373.7 crore
Net interest income falls 1.2% to Rs 5,913.8 crore Vs Rs 5,985.1 crore
Provisions and contingencies decline 57.7% to Rs 441.2 crore Vs Rs 1,043 crore
Gross NPA declines to 2.54% Vs 2.92% (QoQ)
Net NPA slips to 0.65% Vs 0.75% (QoQ)
L&T Technology Services Q2 (Consolidated YoY)
Profit rises 2.8% to Rs 328.7 crore Vs Rs 319.6 crore
Revenue grows 15.8% to Rs 2,979.5 crore Vs Rs 2,572.9 crore
Board announces interim dividend of Rs 18 per share
Sobha Q2 (Consolidated YoY)
Profit spikes 178% to Rs 72.5 crore Vs Rs 26.1 crore
Revenue surges 50.8% to Rs 1,407.6 crore Vs Rs 933.6 crore
Other income nearly doubles to Rs 61.7 crore Vs Rs 31.7 crore
Dixon Technologies India Q2 (YoY)
Profit zooms 71.9% to Rs 670 crore Vs Rs 390 crore
Revenue surges 28.8% to Rs 14,855 crore Vs Rs 11,534 crore
Other income at Rs 495.7 crore Vs negative other income at Rs 5.73 crore
Exceptional item at Nil Vs gain of Rs 209.6 crore
DCB Bank Q2 (YoY)
Profit increases 18.3% to Rs 183.9 crore Vs Rs 155.5 crore
Net interest income rises 17.1% to Rs 596.2 crore Vs Rs 509.2 crore
Provisions and contingencies grow 32.7% to Rs 60.5 crore Vs Rs 45.6 crore
Gross NPA falls to 2.91% Vs 2.98% (QoQ)
Net NPA declines to 1.21% Vs 1.22% (QoQ)
Tata Technologies Q2 (Consolidated YoY)
Profit rises 5.1% to Rs 165.5 crore Vs Rs 157.4 crore
Revenue increases 2.1% to Rs 1,323.3 crore Vs Rs 1,296.5 crore
Havells India Q2 (Standalone YoY)
Profit grows 16.5% to Rs 317.5 crore Vs Rs 272.6 crore
Revenue soars 5.2% to Rs 4,766.6 crore Vs Rs 4,533 crore
AU Small Finance Bank Q2 (YoY)
Profit falls 1.8% to Rs 560.9 crore Vs Rs 571.2 crore
Net interest income rises 8.6% to Rs 2,144.4 crore Vs Rs 1,974.4 crore
Provisions & Contingencies spike 28.9% to Rs 480.8 crore Vs Rs 373 crore
Gross NPA slips to 2.41% Vs 2.47% (QoQ)
Net NPA unchanged at 0.88% Vs O.88% (QoQ)
Karur Vysya Bank Q2 (YoY)
Profit jumps 21.2% to Rs 574 crore Vs Rs 473.6 crore
Net interest income grows 18.7% to Rs 1,261.2 crore Vs Rs 1,062.5 crore
Provisions and contingencies spike 52.6% to Rs 274.4 crore Vs Rs 179.8 crore
Gross NPA rises to 0.76% Vs 0.66% (QoQ)
Net NPA unchanged at 0.19% (QoQ)
JSW Energy Q2 (Consolidated YoY)
Profit drops 17.4% to Rs 704.7 crore Vs Rs 853.3 crore
Revenue zooms 60% to Rs 5,177.4 crore Vs Rs 3,237.7 crore
Poonawalla Fincorp Q2 (Consolidated YoY)
Profit stands at Rs 74.2 crore Vs loss of Rs 471 crore
Net interest income surges 42% to Rs 904.5 crore Vs Rs 637.3 crore
CESC Q2 (Consolidated YoY)
Profit zooms 20.4% to Rs 425 crore Vs Rs 353 crore
Revenue rises 12% to Rs 5,267 crore Vs Rs 4,700 crore
IDFC First Bank Q2 (Standalone YoY)
Profit spikes 75.5% to Rs 352.3 crore Vs Rs 200.7 crore
Net interest income grows 6.8% to Rs 5,112.6 crore Vs Rs 4,787.9 crore
Provisions and contingencies fall to Rs 1451.9 crore Vs Rs 1,731.9 crore
Gross NPA declines to 1.86% Vs 1.97% (QoQ)
Net NPA slips to 0.52% Vs 0.55% (QoQ)
Stocks to Watch
The Boards of Emirates NBD Bank (PJSC) and RBL Bank have approved entering into definitive agreements for ENBD to acquire a controlling stake in RBL Bank through a primary infusion of approximately $3 billion (Rs 26,850 crore). This marks the largest-ever foreign direct investment and equity fundraise in the Indian banking sector. The proposed investment will be made via a preferential issue of up to 60% stake in RBL Bank. As part of the transaction, ENBD will also make a mandatory open offer to acquire up to 26% stake from public shareholders.
The company has received a Letter of Acceptance for a new work order involving civil works for the construction of an office-cum-training building and residential accommodation for officers and staff of the National Academy of Defence Financial Management (NADFM) in Pune. The contract value is Rs 125.92 crore.
Alembic Pharmaceuticals has received final approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Triamcinolone Acetonide Injectable Suspension USP. The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Kenalog-40 Injectable Suspension of Bristol-Myers Squibb Company.
This medication is indicated for various autoimmune, inflammatory, and other conditions where oral therapy is not feasible.
Ircon has received an order worth Rs 360.3 crore from Petronet LNG for civil, structural, and underground (UG) works, including piling (Part-A), for the PDHPP plant with ethane and propane storage and handling facilities at Dahej, Gujarat.
RVNL has emerged as the lowest bidder (L1) in a reverse auction conducted by South Central Railway for the design, supply, erection, testing, and commissioning of OHE (Overhead Equipment) upgradation. The project involves upgrading the existing 1x25kV system to a 2x25kV AT feeding system with feeder and earthing works in the Ramgundam (RDM) – Kazipet (KZJ) section of the Secunderabad division. The total contract value is Rs 144.4 crore.
Marico has completed the acquisition of the remaining 46.02% equity stake in HW Wellness Solutions (True Elements), increasing its total holding from 53.98% to 100%. As a result, True Elements has become a wholly owned subsidiary of the company.
Tata Power has temporarily suspended operations at its Mundra units until November 30. The company is actively undertaking the necessary measures and anticipates resumption of operations in due course.
Sterling and Wilson Renewable Energy
The company has been declared L1 for engineering, procurement, and construction (EPC) of a 363 MWp DC PV project in Rajasthan, and a 580 MWp DC PV project in Uttar Pradesh. It has also received a Letter of Intent for a 115 MWp project in South Africa, valued at $120 million.
The total EPC value of the three new orders is approximately Rs 1,772 crore, taking the total order inflows this fiscal to Rs 3,775 crore.
Bulk Deals
Smallcap World Fund Inc has offloaded 39.17 lakh shares (equivalent to 0.52% stake) in Delhivery, the third-party logistics service provider, at Rs 448.35 per share, amounting to a total transaction value of Rs 175.66 crore.
Canara HSBC Life Insurance Company
Oxbow Master Fund, backed by Hong Kong-based Oxbow Capital Management (HK), has sold its entire holding of 1,64,44,730 equity shares (1.73% stake) in Canara HSBC Life Insurance Company at Rs 110.15 per share, totaling Rs 181.1 crore.
BNP Paribas Financial Markets has acquired 3.53 lakh shares of MTAR Technologies at Rs 2,288.52 per share, amounting to Rs 80.8 crore.
LTIMindtree purchased 1 crore units of the IRB InvIT Fund, sponsored by IRB Infrastructure Developers, at Rs 60.93 per unit, totaling Rs 60.93 crore.
Meanwhile, IIFL Finance sold 1.17 crore units at Rs 60.43 per unit, amounting to Rs 70.5 crore, and Kotak Mahindra Bank offloaded 1.28 crore units at Rs 62.31 per unit, for a total of Rs 79.86 crore.
Stocks Trade Ex-Dividend
Tech Mahindra
Oberoi Realty
Rama Phosphates
Tips Music
Stocks in F&O ban
RBL Bank
Sammaan Capital
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