Stocks to Watch: RIL, ITC, CRISIL, PVR, GSFC, RBL Bk, Hindustan Zinc, Sugar

Stocks to Watch Today: Bandhan Bank, Compton Greaves, HDFC AMC, HFCL, JSW Steel, Reliance Industries and UltraTech Cement to announce Q1 results on Friday.

Stocks to Watch Today: The key benchmark indices are likely to start Friday’s trade on a positive note amid supportive global cues. However, the day is likely to see a lot of action with index heavyweight RIL in focus ahead of the Q1 earnings followed by private banking majors and Infosys over the weekend. As of 07:35 AM, the SGX Nifty futures quoted at 16,655, as against the spot Nifty close of 16,605 yesterday.

Meanwhile, following stocks are likely to see some action in trades on Friday.

Earnings Watch: Andhra Cements, Atul, Bandhan Bank, Bharat Gears, Compton Greaves, Finolex Industries, HDFC AMC, HFCL, JSW Steel, Mahindra CIE Automotive, Meghmani Organics, Radhe Developers, Reliance Industries (RIL), Tinplate Company of India, UltraTech Cement and Vardhman Textiles are some of the prominent companies scheduled to announce Q1 reults today.

ITC: The diversified conglomerate has launched its super app ‘Meta Market’ for Advanced Agricultural Services (ITCMAARS) to provide agricultural and allied services to farmers on a digital platform. Speaking at the launch event on demand outlook, chairman Sanjiv Puri said demand was robust at a larger industry level as far as agriculture, hotels and paperboards, and packaging are concerned. READ MORE

CRISIL: The company reported a 35.8 per cent growth in net profit for the quarter ended June 2022 at Rs 136.90 crore when compared with Rs 100.80 crore in the quarter ended June 2021. Total income rose 27.9 per cent YoY to Rs 703.84 crore.

Hindustan Zinc: Beating street estimates, the subsidiary of Vedanta, reported a 56 per cent YoY increase in net profit for Q1FY23 at Rs 3,092 crore, on the back of higher realisation. Revenue from operations grew 44.8 per cent to Rs 9,236 crore, led by higher zinc volumes and zinc LME prices as well as a favourable exchange rate, the company said. READ MORE

Persistent Systems: The company’s Q1FY23 net profit jumped 39.9 per cent to Rs 211.61 crore as against Rs 151.25 crore in Q1FY22. Total income surged 49.7 per cent YoY to Rs 1,899.09 crore.

Mphasis: The IT company reported a 8 per cent YoY growth in consolidated net profit at Rs 397.41 crore for the quarter ended June 2022 when compared with Rs 367.81 crore in the corresponding quarter a year ago. Total income was up 25.9 per cent at Rs 3,446.86 crore from Rs 2,737.55 crore.

Cyient: The company’s Q1 net was up marginally at Rs 116.10 crore in the quarter ended June 2022 as against Rs 115 crore in Q1FY22. Total income increased by 18.4 per cent YoY to Rs 1,283.80 crore.

Tube Investments of India (TII): The Murugappa Group-led company has marked its foray into the electronics component segment by acquiring 76 per cent equity stake in Noida-based Moshine Electronics, that manufactures camera modules for mobile phones, for a total consideration of about Rs 8.64 crore. READ MORE

PVR: India’s largest multiplex operator reported its first profit after two years of slowdown, aided by strong box-office collections. The company posted a net profit of Rs 53.2 crore in the quarter ended June 2022 as against a net loss of Rs 219.44 crore in the year ago period. Total revenue jumped 83 per cent YoY to Rs 981.4 crore. READ MORE

Sugar: The government may allow sugar mills to export more than previously permitted to help them prevent defaults on contracts, according to people familiar with the matter. It is considering allowing additional sales of as much as 1.2 MT of sugar for the year ending September 30. READ MORE

GSFC: The company’s Q1FY23 net profit more-than-doubled to Rs 355.83 crore when compared with Rs 137.76 crore in Q1FY22. Total income surged 63.4 per cent YoY to Rs 3,091.58 crore.

JSW Energy: The company posted a 179 per cent YoY jump in net profit at Rs 560 crore for the quarter ended June 30, 2022, on the back of higher revenues. Total income rose 68 per cent to Rs 3,115 crore.

IDBI Bank: The private sector bank’s net profit rose 25 per cent YoY to Rs 756 crore in Q1FY23 on the back of a sharp fall in provisions and contingencies. Net interest income (NII), however, declined a per cent to Rs 2,488 crore. READ MORE

Himadri Speciality Chemical: The company reported a net loss of Rs 9.06 crore for the quarter ended June 2022 as against a net profit of Rs 22.81 crore in the corresponding quarter a year ago. Total income, however, surged 47 per cent YoY to Rs 835.68 crore.

Reliance Industries: The company’s retail-fashion arm - Reliance Brands signed a long-term distribution agreement with Maison Valentino and will open its first boutique in Delhi, followed by a flagship store in Mumbai. The latter will stock womenswear, menswear, footwear, and accessories of the brand. 

RBL Bank: The bank reported a sharp turnaround with a net profit of Rs 201.16 crore in the April-June quarter (Q1FY23) as against a net loss of Rs 459.7 crore in the year ago period as sharp drop in provisions boosted its bottomline. Net interest income (NII) rose 6 per cent YoY to Rs 1,027.73 crore. READ MORE

Elecon Engineering: The company reported a 42.4 per cent jump in Q1 net at Rs 32.94 crore for the quarter ended June 2022 when compared with Rs 23.13 crore in the year ago period. Total income increased by 15.9 per cent YoY to Rs 258.82 crore.

Airlines: Following a spate of complaints on Twitter, the aviation ministry has asked airlines to immediately stop levying a fee of about Rs 200 per passenger for a boarding pass at airport check-in counters. READ MORE

Happiest Minds Technologies: The company posted a net profit of Rs 56.34 crore for the quarter ended June 2022, up 57.7 per cent on a YoY basis. Total income also surged over 31 per cent to Rs 332.74 crore.

Stocks in F&O ban: Delta Corp and RBL Bank are the only stocks in F&O ban period on Friday.