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Last Updated : Aug 01, 2016 09:22 AM IST | Source: CNBC-TV18

ICICI Bank, L&T, Nestle, IRB infra likely to be in focus

Some of the stocks that should be on your radar are: ICICI Bank, Larsen and Toubro, IRB Infrastructure Developers, Sun Pharmaceutical Industries, Lupin, Aviation, Crompton Greaves, Force Motors, Quess Corp, Thomas Cook (India), Ipca Laboratories, Just Dial.


ICICI Bank Q1: India's largest private sector lender ICICI Bank 's April-June quarter standalone profit fell sharply by 25 percent year-on-year to Rs 2,232.4 crore, dented by jump in provisions, but was ahead of estimates. Net interest income, the difference between interest earned and interest expended, grew only by 0.9 percent to Rs 5,158.5 crore on year-on-year basis, which missed analysts' expectations.

Profit was estimated at Rs 2,127.7 crore and net interest income Rs 5,342.6 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18.

Advances for the quarter increased by 12 percent year-on-year to Rs 4.49 lakh crore with retaining strong retail loan growth of 22 percent (that constituted about 46 percent of total loan portfolio), the private sector lender said, adding deposits grew by 15 percent to Rs 4.24 lakh crore with CASA deposits growth of 18 percent.

L&T Q1: Engineering and construction major Larsen and Toubro 's (L&T) first quarter earnings missed analysts' expectations on all parameters Friday.

Consolidated profit jumped 46 percent year-on-year to Rs 609.6 crore and revenue increased 9.1 percent to Rs 21,874 crore. Profit was estimated at Rs 770 crore on revenue of Rs 22,477 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18. L&T received fresh orders worth Rs 29,702 crore during the quarter, registering a 14 percent growth compared with year-ago period, which was in-line.

International orders at Rs 13,211 crore constituted 44 percent of the total order inflow, the company said in its filing. With this, consolidated order book of the group stood at Rs 2,57,427 crore as of June 2016, higher by 8 percent on yearly basis.

Analysts says, core business execution was below estimate. It is believed revenue run-rate will pick up in coming quarters. L&T can see a moderately negative stock reaction in near term due to uncertainty.

Nestle Q2CY16: Rebounding from losses after ban on its Maggi noodles last year, FMCG major Nestle India today reported net profit of Rs 230.84 crore for the second quarter ended June 30. The company, which follows January-December financial year, had posted a net loss of Rs 64.40 crore during the April-June quarter last fiscal.

Net sales of the company during the quarter under review were up 16.66 percent to Rs 2,256.09 crore as against Rs 1,933.84 crore of the year-ago period, Nestle said in a BSE filing.

IRB Infra: Toll road firm IRB Infrastructure Developers said it has bagged a contract worth Rs 2,100 crore from NHAI for a six-laning project in Rajasthan and Gujarat.

"IRB has emerged as a preferred bidder for the project of six laning from Udaipur to Rajasthan/ Gujarat border on section of NH-8 in Rajasthan and Gujarat," the company said in a statement issued here.

The Rs 2,100 crore project is to be developed on design, built, finance, operate and transfer (DBFOT) under the National Highways Development Programme (NHDP) phase V. The concession period for the project is 21 years including construction period of 910 days, the statement said.

Lupin, Sun Pharma: Exclusivity on cancer drug, Gleevec and diabetes drug, Glumetza ended on July 30. Sun Pharma launched cancer drug, Gleevec with 6-month exclusivity on February 1. Lupin launched diabtetes drug, Glumetza with 6-month exclusivity on February 1. End of exclusivity means generic competition can enter the market. Exit market share for Sun Pharma in Gleevec Generic is around 60 percent. Exit Market share for Lupin in Gleevec Generic is around 69 percent. Both drugs do not have authorized generics. Both drugs do not have authorized generics.

Aviation stocks in focus: Jet fuel prices cut by Rs 2,080/kl. Jet fuel prices cut by 4.2 percent from August 1. First price cut since March 2016. Last month , ATF prices were hiked by 5.5 percent for 5th month in a row. Cut in prices positive for aviation stocks. ATF forms 40 percent of operating costs for airline companies.

Crompton Greaves Consumer Electricals
 reported a standalone net profit of Rs 91.94 crore for the quarter ended June 30, 2016.

The company had posted a net loss of Rs 0.07 crore for the corresponding quarter a year ago, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a BSE filing.


CGCEL's standalone net sales during the period under review stood at Rs 1,120.84 crore.


The company was listed on BSE in May this year after being demerged from the parent firm Crompton Greaves.

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CGCEL Managing Director Shantanu Khosla said, "Our efforts on building the Crompton brand have commenced during the quarter. Our actions on executing operational efficiencies are also showing encouraging results ensuring that we grew our profits faster than our topline."

Force Motors: Force Motors reported a 46.11 percent increase in net profit at Rs 51.46 crore for the first quarter ended Jue 30.


The company had posted a net profit of Rs 35.22 crore in the same period last fiscal, Force Motors said in a BSE filing.


Total income from operations stood at Rs 854.1 crore compared with Rs 717.74 crore in the year-ago quarter, up 18.99 percent, it said.

Quess Corp: Quess Corp, the subsidiary of travelling company Thomas Cook, started off the fiscal year on a strong note by reporting consolidated profit at Rs 24.7 crore in April-June quarter, a growth of 37.2 percent compared with Rs 18 crore in year-ago period, driven by growth across all segments. It was the company's first earnings report after listed on exchanges on July 12.


Revenue increased 35.7 percent to Rs 991 crore in the quarter ended June 2016 from Rs 730.3 crore in same period last year.


The business services provider has four segments - people & services, global technology services, integrated facility management and industrial asset management.


Operating profit surged 59.5 percent to Rs 52.8 crore and margin expanded by 80 basis points to 5.3 percent on yearly basis. Margin growth might have impacted by employee and other expenses.


Employees expenses jumped 29.8 percent year-on-year to Rs 854.5 crore in Q1. Quess Corp said employee headcount grew by 22 percent to around 1.27 lakh from Rs 1.04 lakh.

Other stocks in news are IPCA Labs and Just Dial.



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First Published on Aug 1, 2016 09:22 am
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