Stocks to Watch Today: Wipro, IndusInd Bank, Adani Enter, CEAT, Sonata, SBI

Stocks to Watch Today: CRISIL, GSFC, Hindustan Zinc, JSW Energy, Mphasis, PVR, RBL Bank and SRF to announce Q1 results on Thursday.

Stocks to Watch Today: The key benchmark indices are likely to start trade on Thursday on a tepid note tracking cues from the SGX Nifty. As of 07:25 AM, the SGX Nifty futures quoted at 16,505, as against the spot Nifty close of 16,520 in trades yesterday.

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

Earnings Watch: CRISIL, Cyient, GSFC, Happiest Minds, Hindustan Zinc, IDBI, JSW Energy, Mphasis, Persistent Systems, PVR, Quick Heal Technologies, RBL Bank and SRF are some of the prominent companies scheduled to announce Q1 reults today.

Wipro: The IT major’s Q1FY23 net profit declined 21 per cent YoY to Rs 2,563.6 crore, because of acquisitions, cost of talent, and taxes. The revenue for the quarter under review was up 17.9 per cent at Rs 21,528 crore. READ MORE

IndusInd Bank: The bank reported a 64.4 per cent YoY rise in standalone net profit at Rs 1,603.29 crore during Q1FY23, led by a healthy increase in net interest income (NII). The private bank’s NII registered 16 per cent growth at Rs 4,215 crore. READ MORE

Adani Enterprises: The company is pegged to replace Kolkata-based Shree Cement in the Nifty 50 index, a gauge for the performance of India’s capital market. If it enters Nifty, the diversified conglomerate will be the least-tracked company in the index. READ MORE

Sonata Software: The company’s board is scheduled to meet on July 265 to consider a proposal for bonus issue of shares. The company will also announce its results on the same day.

CEAT: The tyre-maker reported a 41.1 per cent drop in Q1FY23 net profit at Rs 13.42 crore as against Rs 22.79 crore in the year ago period. Total income, however, surged 47.6 per cent to Rs 2,805.84 crore. The company’s board has also approved issuance of NCDs worth Rs 500 crore.

Havells India: The company posted a 3.5 per cent growth at Rs 241.581 crore in Q1 net profit for the quarter ended June 2022 when compared with Rs 233.32 crore in Q1FY21. Total income soared 62.5 per cent YoY to Rs 4,277.12 crore.

Bank of India, Future Retail: The Mumbai Bench of the NCLT on Wednesday admitted Bank of India's petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) to start proceedings against Future Retail and appointed an interim resolution professional (IRP) in the matter. It also dismissed the intervention application of e-commerce giant Amazon, which was opposed to Future's deal with Reliance Retail. READ MORE

Insurance stocks: HDFC Life Insurance Company and ICICI Lombard General Insurance Company, two listed insurers in different segments, have come up with their respective April-June quarter (Q1 of FY23) numbers. Though Q1 was disappointing, there are triggers that could lead to improvement in the performance of the two insurers. READ ANALYSIS

Tata Communications: The Tata group company’s Q1 net profit rose 14.7 per cent YoY to Rs 354.61 crore in the quarter ended June 2022 from Rs 309.26 crore in the year ago period. Total income was up 13.4 per cent at Rs 1,979.38 crore.

Maruti Suzuki: India’s largest carmaker made its first foray towards electrifying its vehicle portfolio with the unveiling of mid-sized SUV, the Grand Vitara.  The vehicle goes on sale in September with prices expected to start at Rs 9.5 lakh. READ MORE

Mastek: The company’s consolidated net profit in the June quarter ended 2022 declined marginally to Rs 96.69 crore from Rs 96.81 crore in the year ago quarter. Total income, however, was up 14.4 per cent YoY at Rs 596.01 crore.

Oracle Financial Services Software (OFSS): The company’s Q1FY23 net profit declined 8.1 per cent YoY to Rs 444.74 crore from Rs 483.77 crore in Q1FY22. Total income, however, was up 2 per cent at Rs 1,090.33 crore.

Syngene International: The company reported a net loss of Rs 23.70 crore in the quarter ended June 2022 as against a net profit of Rs 61.50 crore in the quarter ended June 2021. Total income, however, was up 8.9 per cent YoY at Rs 660 crore.

Torrent Pharmaceuticals: The Ahmedabad-based pharma company seems set to foray into the diagnostics space in next 2-3 months  following the foot-steps of its peer Lupin. A company called Torrent Diagnostics Private Ltd was incorporated in February this year. READ MORE

AU Small Finance Bank (SFB): The bank’s net profit rose 32 per cent YoY to Rs 268 crore in the quarter ended June (Q1FY23), on the back of improvement in its net interest income (NII)). The lender's NII was up 35 per cent at Rs 976 crore.

SBI: The country’s largest lender plans to raise up to Rs 11,000 crore via additional tier-I and tier II bonds to meet regulatory requirements and support business growth.  The bank’s board approved raising fresh AT1 capital of up to Rs 7,000 crore, and fresh tier-II capital of up to Rs 4,000 crore. 

Sasken Technologies: The company’s net profit plunged over 55 per cent to Rs 15.23 crore in Q1FY23 when compared with Rs 34 crore in Q1FY22. Total income was down 20.5 per cent YoY at Rs 95.65 crore.

Reliance Industrial Infrastructure (RIIL): The company reported a net loss of Rs 0.43 crore for the quarter ended June 2022 when compared with a net profit of Rs 7.23 crore in the year ago period. Total income was down 7.3 per cent YoY at Rs 18.33 crore.