Stocks to watch: SBI, DRL, Britannia, Coal India, Divi’s Lab, Paytm, ABFRL
Stocks to watch today: Strong global cues coupled with steady foreign inflows may instill strength in domestic equity markets on Monday. At 7:30 am, the SGX Nifty quoted at 18,292 levels, up 172 points.
Globally, the US markets were on a strong foot Friday ahead of Congressional mid-term elections and inflation report due this week. Dow Jones, the S&P 500, and NASDAQ Composite closed above 1 per cent each.
Back home, second quarterly earnings season, macro reports, rupee movement, and oil prices will dictate secondary markets.
The primary markets, on the other hand, will see opening of four public issues this week – Archean Chemical Industries, Five Star Business Finance, Kaynes Technology India, and Inox Green Energy Services.
Meanwhile, here’s a list of stocks that will see action in Monday’s trade:
Q2 results: Coal India, Divi’s Lab, BPCL, One97 Communications, Aditya Birla Capital, Sundaram Finance, PB Fintech, Affle (India), KPR Mill, Endurance Technologies, Alkyl Amines, BSE, India Cements, among many others will report the July-September (Q2FY23) quarter results on Monday, November 7.
SBI: The state-run lender’s net profit climbed 73.9 per cent year-on-year (YoY) to Rs 13,265 crore in Q2FY23 from Rs 7,627 crore in Q2FY22, due to improvement in interest margins and drop in provisions of bad loans. Net interest income (NII), too, rose 12.8 per cent YoY to Rs 35,185 crore for Q2. READ MORE
Dr Reddy’s: The pharma giant has earmarked capex of around Rs 1,500 crore for FY23 for its biosimilar and injectable businesses. The Hyderabad-based drug major also plans to utilise the capital for adding capacities to existing plants, firm up R&D activities and further invest in digitisation projects. READ MORE
IndiGo: The airline operator’s loss widened 10.2 per cent to Rs 1,583.2 crore in Q2FY23 due to rupee depreciation and high fuel prices. While the company’s sales jumped to Rs 12,497.5 crore in Q2, its expenses rose to Rs 14,435.5 crore in the same period. READ MORE
Britannia Industries: The FMCG major posted 28.4 per cent YoY increase in consolidated net profit to Rs 490.5 crore in Q2FY23 as against Rs 381.8 crore in Q2FY22, aided by higher volumes. Total revenue from operations, too, climbed 21.4 per cent YoY to Rs 4,379.61 crore from Rs 3,607.37 crore in Q2FY22. READ MORE
Aditya Birla Fashion: The company posted 50 per cent YoY spike in revenue to Rs 3,075 crore. Net profit for the company, meanwhile, jumped six-fold to Rs 29 crore in Q2FY23 from Rs 5 crore, in the year-ago period. The company’s net debt, too, halved to Rs 243 crore in Q2FY23 at the consolidated level. READ MORE
Bank of Baroda: The public sector lender reported 58.7 per cent YoY jump in net profit to Rs 3,313 crore in Q2FY23, a record high for the bank, compared to Rs 2,088 crore in Q2FY22. NII for the lender, meanwhile, was up 34.5 per cent YoY to Rs 10,714 crore in the recently concluded quarter.
Axis Bank: The private sector lender raised interest rates on fixed deposits up to 115 basis points (bps) for maturities ranging from 46 days to 10 years. For deposits that expire in next seven days to 10 years, the bank is offering that vary from 3.5 per cent to 6.5 per cent for the general public and from 3.5 per cent to 7.25 per cent for senior citizens.
Mahindra Lifespace: The realty firm’s sale bookings rose 32 per cent to Rs 399 crore in Q2FY23 from Rs 303 crore in the year-ago period, on better housing demand. The company had achieved sale bookings of Rs 1,028 crore in the housing segment in 2021-22.
Triveni Engineering: The sugar firm reported a multi-fold jump in its consolidated profit to Rs 1,387.76 crore in Q2FY23 from Rs 92.47 crore in the year-ago period. Total income, too, rose to Rs 1,483.33 crore in Q2FY23 from Rs 1,163.66 in Q2FY22.
Vodafone Idea: The telecom operator rolled out 300 new-format ‘Vi Shops’ across multiple towns in Maharashtra, Tamil Nadu, Kerala, West Bengal and UP West, in line with its expansion blueprint to digitally connect the rural population.
Stocks in F&O ban: LIC Housing Finance is the only stock banned in the F&O ban period on Monday, November 7.
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