Stocks to Watch Today: HDFC Bank, ICICI Pru, Jindal Steel, Spandana, LTTS, Q1 Results, Vedanta


Stocks to Watch Today: The are likely to start trade with a positive gap following the sharp rally in the US on Friday. As of 07:10 AM, the SGX Nifty futures quoted at 16,201, indicating a gap-up of 150 points on the Nifty 50 benchmark.

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

Earnings Watch: Alok Textiles, Ganesh Corporation, Hiedelbergcement India, Bank of Maharashtra, Nelco and Onward Technologies.

HDFC Bank: The bank reported a 19 per cent YoY increase in its standalone net profit at Rs 9,196 crore in Q1FY23, after providing Rs 2,984 crore for taxation. The bank’s net interest income, rose 14.5 per cent to Rs 19,481.4 crore.

Meanwhile, the country’s largest private-sector lender also said that it lost to competition wholesale loans of around Rs 50,000 crore after it increased interest rates in May. READ MORE

Telecoms: participating in the upcoming 5G spectrum auction at the end of July expect the auction to be a short affair. They expect only a fourth of the value of spectrum on offer to be sold. READ MORE

ICICI Prudential Life Insurance: The company a net profit of Rs 156 crore in the June 2022 quarter when compared with a loss of Rs 186 crore in the year-ago period, aided by significantly lower claims and provisions due to Covid-19. The firm saw value of new business (VNB) increase by 32 per cent YoY to Rs 471 crore in Q1FY23. READ MORE

(RIL): The Mukesh Ambani led firm is likely to report a strong set of numbers in the quarter ended June 2022, driven by robust oil earnings, say analysts tracking the company. READ ANALYSIS

Spandana Sphoorty Financial: The private equity firm Kedaara Capital-backed microfinance institution plans to raise about Rs 4,000 crore through bonds in FY23 to support business growth. It has set a target to grow assets under management (AUM) to Rs 15,000 crore by FY25 from Rs 6,581 crore in March 2022. READ MORE

Reliance Captial: To expedite the sale process of the bankrupt firm, its lenders have decided to hive off Reliance Commercial Finance and Reliance Home Finance into a trust for a separate resolution process. The proceeds from the sale of these two carved-up companies will flow directly to the lenders of RCap – currently undergoing an insolvency resolution. READ MORE

Vedanta: The metals and mining major is seeking shareholder approval for related-party transactions worth Rs 8,661 crore in ongoing financial year. The company said these transactions are needed to achieve synergies and economies of scale, and have been valued by an independent valuer. READ MORE

Tata Steel: The steel major has planned capital expenditure (capex) of Rs 12,000 crore on its India and Europe operations during the current financial year, said the company’s Chief Executive Officer T V Narendran.

Jindal Steel and Power: The steel maker reported a multifold jump in consolidated net profit to Rs 2,770.88 crore for the quarter ended June 2022 versus Rs 14.25 crore a year ago, on account of higher income. Total income rose to Rs 13,069.17 crore from Rs 10,643.17 crore a year ago.

(LTTS): The company reported a 27 per cent YoY surge in Q1 net profit to Rs 274 crore. Revenue grew by 23 per cent YoY to Rs 1,873 crore. READ MORE

YES Bank: The debt-ridden private lender sealed a deal with JC Flowers to set up an asset construction company (ARC), to which the private sector lender will sell Rs 48,000 crore of legacy bad loans through the Swiss challenge method to become a ‘zero-NPA’ bank. READ MORE

Stocks in F&O ban: Delta Corp is the only stock in F&O ban period on Monday.

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