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Stocks to watch: Shares of firms like ICICI Bank, IndiGo, Ambuja, Airtel, Bandhan Bank, BHEL, and others will be in focus on Monday’s trade
Stocks To Watch
Stocks To Watch On October 28: Markets resumed their downtrend on Friday after a two-day pause, shedding nearly 1%. In today’s trade, shares of Airtel, Sun Pharma, Adani Power, IDFC First Bank, YES Bank, ICICI Bank, ITD Cementation among others will be in focus due to various news developments and second quarter results.
Results Today: Sun Pharmaceutical, Bharti Airtel, Punjab National Bank, Adani Power, BHEL, Ambuja Cements, Computer Age Management Services, Dalmia Bharat Sugar, Federal Bank, Firstsource Solutions, Indian Bank, Indian Oil Corporation, JSW Infrastructure, and KFin Technologies, are among the companies that will report their quarterly earnings on Monday, October 28.
ICICI Bank: The bank reported a 14.5 per cent increase in standalone Q2 net profit at Rs 11,746 crore, compared to Rs 10,261 crore in the year ago period. ICICI Bank’s net interest income grew 9.5 per cent to Rs 20,048 crore during the quarter, compared to Rs 18,307.9 crore in the previous year quarter, while gross NPA fell to 1.97 per cent from 2.15 per cent sequentially. The company’s net NPA declined to 0.42 per cent, compared to 0.43 per cent in the last quarter.
InterGlobe Aviation: IndiGo posted a loss of Rs 986.7 crore in Q2, compared to a profit of Rs 188.9 crore in the previous year quarter. However, revenue increased by 13.6 per cent to Rs 16,969.6 crore, up from Rs 14,944 crore.
Bank of Baroda: The bank’s standalone Q2 profit surged 23 per cent to Rs 5,238 crore, up from Rs 4,253 crore year-on-year. Net interest income rose by 7.3 per cent to Rs 11,622 crore, compared to Rs 10,831 crore. The gross NPA improved to 2.50 per cent from 2.88 per cent QoQ, while net NPA declined to 0.60 per cent from 0.69 per cent QoQ.
Coal India: The company reported a 22 per cent decline in consolidated Q2 profit, amounting to Rs 6,274.8 crore, down from Rs 8,048.6 crore in the previous year. Revenue slipped 6.4 per cent to Rs 30,673 crore compared to Rs 32,776.4 crore, while EBITDA fell 14.2 per cent to Rs 8,617.1 crore from Rs 10,038.2 crore. Coal India declared an interim dividend of Rs 15.75 per share for FY25.
Torrent Pharmaceuticals: The company recorded a 17.4 per cent increase in Q2 profit, reaching Rs 453 crore compared to Rs 386 crore last year. Revenue rose 8.6 per cent to Rs 2,889 crore, up from Rs 2,660 crore.
DLF: The company’s profit soared 122.1 per cent in Q2 to Rs 1,381.2 crore, up from Rs 621.9 crore year-on-year. Revenue increased by 46.5 per cent to Rs 1,975 crore, compared to Rs 1,347.7 crore in the previous year.
Ambuja Cements: The company recently enhanced its limestone reserves to 8 billion tonnes, closing in on UltraTech Cement’s 10 billion tonnes. The increase is largely attributed to strategic participation in state auctions, with 587 million tonnes secured in FY24 and an additional 275 million tonnes in Q1 FY25.
ITD Cementation India: The Adani Group’s Renew Exim DMCC is set to acquire a 46.64 per cent stake in ITD Cementation for Rs 3,204 crore, with an open offer planned for an additional 26 per cent stake.
Macrotech Developers: The company saw a substantial profit spike of 108.6 per cent in Q2, reaching Rs 423.1 crore compared to Rs 202.8 crore last year. Revenue surged 50.1 per cent to Rs 2,625.7 crore, up from Rs 1,749.6 crore.
Bandhan Bank: The bank reported a 30 per cent increase in Q2 profit to Rs 937 crore, up from Rs 721 crore year-on-year. Net interest income grew 21 per cent to Rs 2,948 crore compared to Rs 2,443 crore, although gross NPA rose to 4.68 per cent from 4.23 per cent QoQ.
Yes Bank: The bank’s standalone Q2 profit surged 145.6 per cent to Rs 553 crore, compared to Rs 225 crore in the previous year. Net interest income increased by 14.3 per cent to Rs 2,200 crore from Rs 1,925 crore, while gross NPA fell to 1.6 per cent from 1.7 per cent QoQ.
Intellect Design Arena: The company posted a 26 per cent decline in Q2 profit, at Rs 52.5 crore from Rs 70.8 crore year-on-year. Revenue also dropped 10 per cent to Rs 558.1 crore compared to Rs 619 crore.
Praj Industries: The company’s profit fell 13.7 per cent to Rs 53.8 crore in Q2, down from Rs 62.4 crore year-on-year, while revenue decreased by 7.5 per cent to Rs 816.2 crore from Rs 882.4 crore.
Life Insurance Corporation of India: LIC is set to enter the bond forward rate agreement (FRA) market by FY25, aiming to mitigate risks in its non-participatory segment. This move is anticipated to boost demand for longer-tenure bonds, potentially influencing bond market dynamics.
Hindustan Zinc: The company plans to invest up to $2 billion to double production capacity to 2 million tonnes over the next few years. The company aims for incremental increases in production capacity and is currently seeking mining partners.
NMDC: The government plans to merge Kudremukh Iron Ore Company (KIOCL) with NMDC, which could enhance operational efficiencies for KIOCL, particularly as it faces challenges in resuming mining at Devadari. The merger will require approvals from multiple government bodies.
IDBI Bank: The finance ministry aims to finalise the privatisation of IDBI Bank by March 2025. The Reserve Bank of India has issued a ‘fit and proper’ certificate to shortlisted bidders, and access to the virtual data room will be provided soon. The government and LIC plan to sell a 60.72 per cent stake.
Mahindra Lifespace Developers: The company reported a consolidated net loss of Rs 14.01 crore for Q2 FY2025, an improvement from a net loss of Rs 18.93 crore in the same period last year. Total income dropped to Rs 16.96 crore from Rs 26.70 crore year-on-year, but the company showed recovery in the first half with a net loss of Rs 1.27 crore compared to Rs 23.20 crore a year ago.
Signature Global, Capacit’e Infraprojects: Signature Global awarded a Rs 1,203 crore contract to Capacit’e Infraprojects for its ‘Titanium SPR’ housing project in Gurugram. The project spans 14.382 acres and consists of 608 units, with the first phase launched in June 2024.
Axis Bank: The bank has received a show cause notice from SEBI regarding its stake buy in Max Life Insurance. Axis Bank plans to respond, asserting that the transactions were conducted with necessary regulatory approvals.
Bajaj Auto: The company’s Freedom 125 CNG motorcycle is gaining traction, with over 8,310 units sold in October, reflecting a 68 per cent growth. Plans are in place to ramp up production significantly in the coming quarters.
Vedanta Resources: Moody’s has upgraded its ratings on Vedanta’s bonds, citing improved access to funding and a stable outlook as the company works to manage its debt maturities effectively.
Indian Bank: The bank has successfully raised Rs 5,000 crore through long-term infrastructure bonds, which saw a strong demand at 3.19 times the issue size. The bonds, carrying a coupon rate of 7.12 per cent per annum and rated AAA, will aid the bank in financing credit growth and infrastructure projects. This issuance is exempt from statutory liquidity ratio (SLR) and cash reserve ratio (CRR) requirements, providing significant liquidity support.
Eris Lifesciences: The company saw a 20 per cent year-on-year decline in profit after tax to Rs 97 crore in the September quarter, despite an increase in revenue to Rs 741 crore. The integration of acquired businesses is reportedly on track, and the company is optimistic about achieving its revenue targets of Rs 2,600 crore in domestic formulations.
SpiceJet: The airline settled a long-standing dispute with Shannon Engine Support Limited for $2 million, a reduction from an initial claim of $4.5 million. This follows several recent settlements that have improved the airline’s liquidity position after raising Rs 3,000 crore through a Qualified Institutional Placement. Despite these positive steps, SpiceJet’s stock fell 3.7 per cent to Rs 54.10, impacted by broader market declines.
Larsen & Toubro: L&T has secured a significant contract to deploy advanced welding technologies for the ITER nuclear fusion project in France, valued between Rs 1,000 crore and Rs 2,500 crore. This collaboration is part of a larger international effort to harness fusion energy, which is seen as a sustainable and carbon-free energy source. The project aims to advance research in plasma energy generation, marking a critical step in energy innovation.
Cholamandalam Investment and Finance Company: The company reported a robust profit after tax of Rs 967.80 crore for the July-September 2024 quarter, up from Rs 772.87 crore in the same quarter last year. The consolidated total income surged to Rs 6,322.34 crore, reflecting strong growth in disbursements, which rose to Rs 48,646 crore during the first half of the fiscal year. The company’s Total Assets Under Management (AUM) also showed substantial growth, increasing to Rs 1,77,426 crore.
NLC India: The company reported a 9.5 per cent decline in consolidated profit to Rs 982.41 crore for Q2 FY2024, affected by rising expenses. However, revenue from operations increased to Rs 3,657.27 crore. The company continues to focus on its core business areas, which include lignite and coal mining as well as power generation.
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