Stocks to Watch: YES Bank, Cipla, Bank of Baroda, Zomato, HDFC, ITC, NTPC

Stocks to Watch today: ITC, UPL, Zomato, Arvind, Bajaj Consumer Care, among others will release their Q1 earnings today.

With the Sensex and the Nifty capping their biggest monthly gains since August 2021 and November 2020, respectively, in July, the indices are looking to start the new month on a positive note. 

At 7:30 am, the SGX Nifty futures were quoting at 17,260 level, up around 60 points from Nifty futures friday close. 

On Monday, market action will be guided by corporate earnings. Besides, India’s manufacturing PMI data for July will also be monitored. The new week also remains crucial as investors await the Reserve Bank of India’s MPC policy decision on Friday. 

That said, here are some stocks that will likely be on investors’ radar today: 

Q1 Earnings:  ITC, UPL, Zomato, Arvind, Bajaj Consumer Care, Barbeque-Nation Hospitality, Carborundum Universal, Castrol India, Escorts Kubota, Eveready Industries India, Indo Count Industries, Kansai Nerolac Paints, Max Financial Services, Prudent Corporate Advisory Services, Punjab & Sind Bank, The Ramco Cements, RateGain Travel Technologies, Thyrocare Technologies, Triveni Turbine, and Varun Beverages will release their Q1 results today. 

Bank of Baroda: The public sector lender has reported 79.4 percent year-on-year growth in standalone profit at Rs 2,168 crore for the quarter ended June 2022, despite fall in other income and pre-provision operating profit. The significant decline in bad loans provisions aided the bottom line. Net interest income grew by 12 percent YoY to Rs 8,838.4 crore in Q1FY23, with credit growth at 18 percent and 10.9 percent YoY increase in global deposits.

YES Bank: Private lender YES Bank on Friday announced raising equity capital worth $1.1 billion (Rs 8,900 crore) through funds affiliated to global private equity investors Carlyle and Advent International. Each investor will potentially acquire up to 10 per cent, YES Bank said in a filing. Read here

IOC: Indian Oil Corporation (IOC) on Friday reported a net loss of Rs 1,992 crore in the June quarter as a freeze on petrol and diesel prices wiped away record refining margins. Net loss of Rs 1,992.53 crore in April-June compares to Rs 5,941.37 crore of net profit in the same period a year back, the company said in a stock exchange filing. Read more

Cipla: Mumbai-based Cipla reported a post-tax profit of Rs 686.4 crore for the first quarter of fiscal 2022-23, down 3.96 per cent YoY, while its consolidated revenues shrunk 2 per cent to Rs 5,375 crore. Cipla’s India revenue, consisting of trade generics, prescription business and consumer health, dipped 8.4 per cent YoY during the quarter, to Rs 2,483 crore. Read more

NTPC: State-owned NTPC on Friday posted a more than 15 per cent increase in consolidated net profit to Rs 3,977.77 crore in the June quarter on the back of higher income. The consolidated net profit of the company in the quarter ended on June 30, 2021 was at Rs 3,443.72 crore, according to a filing to BSE. Read here 

DLF: Realty major DLF Ltd on Friday reported a 39 per cent increase in its consolidated net profit to Rs 469.56 crore in the quarter ended in June on better sales. Its net profit stood at Rs 337.16 crore in the year-ago period. Read more

HDFC: HDFC on Friday said it will acquire its venture capital subsidiary HVCL by buying out State Bank of India's 19.5 per cent stake in the company. The Housing Development Finance Corporation (HDFC) holds 80.50 per cent equity share capital of HVCL and the remaining shares are held by State Bank of India (SBI). Read here

HDFC has also increased its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 25 basis points, with effect from August 1, 2022. 

Emami: Homegrown FMCG firm Emami Ltd on Friday reported 6.55 per cent decline in June quarter profit after tax (PAT) at Rs 72.69 crore. The company had posted a PAT of Rs 77.79 crore in April-June 2021-22, Emami said in a regulatory filing. However, revenue from operations was up 17.75 per cent to Rs 778.29 crore during the quarter under review as against Rs 660.95 crore in the year-ago period. Read more

JSW Energy: The energy arm of the Sajjan-Jindal-led JSW group proposes to ramp up its total capacity to 10 gigawatts (GW) by financial year 2024-25 (FY25) from 4.8 GW now, led by acquisitions. JSW Energy is in advanced talks to acquire Mytrah Energy and Vector Green, both renewable energy companies, which it hopes to close in the current financial year (FY23). Read more

HDFC Bank : The bank is likely to raise at least Rs 2.2 trillion from public deposits and corporate bonds, and an additional Rs 50,000 crore from similar papers to meet capital requirements and other pre-requisites stipulated by the regulator for its merger with India’s largest mortgage lender and parent Housing Development Finance Corp. Ltd, said a report by Live mint. 

Zee Ent: The proposed merger of Zee Entertainment Enterprises (Zee) and Culver Max Entertainment (formerly Sony Pictures Networks India) has been approved by the Bombay Stock Exchange and National Stock Exchange, Zee Entertainment said in a statement on Friday. Read here

Suven Pharma: US FDA has completed pre-approval inspection at Suven Pharma's arm Casper Pharma’s manufacturing facility at GMR Hyderabad SEZ. The inspection was conducted from July 25 to July 29, 2022. US FDA completed the audit with zero observations & No form 483 was issued. 

IDFC First Bank: The bank recorded highest-ever standalone profit of Rs 474.33 crore in Q1FY23, against a loss of Rs 630 crore in corresponding period of the previous fiscal. The increase in core operating income and fall in provisions aided the profitability, with the sequential growth in profit at 38 percent. Net interest income grew by 26 percent to Rs 2,751.1 crore YoY during the quarter, with 39 bps YoY improvement in net interest margin at 5.89 percent for the quarter.

Dr Reddy's Laboratories: The pharma major has entered into a licensing agreement with Slayback Pharma to obtain exclusive rights in the first-to-file ANDA for the private label version of Lumify in the US. The agreement also provides Dr Reddy's exclusive rights to the product outside the US.

Rain Industries: The company recorded a 184 percent year-on-year increase in consolidated profit at Rs 668.50 crore for the quarter ended June 2022, driven by healthy top line and operating performance. Revenue grew by 52 percent to Rs 5,540.6 crore due to solid growth in average blended realisation for carbon and advanced material sales, though volumes declined.