Stocks to Watch: RBL Bank, TVS Motors, Fino Payments Bank, PNB, Telecom

3i Infotech, BEL, Dixon Tech, Kotak Bank, Karnataka Bank, Larsen & Toubro, Marico, NIIT, Naukri, Suzlon, United Breweries and Vedanta to announce results today.

The key benchmark indices are likely to start trade on a flat note amid mixed global cues. On one hand, investors will be contemplating the bearish global mood, while on the other pinning hopes for some positive news from the upcoming Union Budget on February 01.

As of 07:55 AM, the SGX Nifty February futures quoted at 17,132 as against the spot Nifty close of 17,110 on Thursday. Meanwhile, here are the top stocks in focus for trade today.

Earnings Watch: 3i Infotech, AU Small Finance Bank, Bajaj Heathcare, Bharat Electronics, Blue Dart, Britannia, Central Bank, Chambal Fertilisers, Crompton Greaves, Deepak Fertilisers, Dixon Technologies, EIH Associated Hotels, Equitas Small Finance Bank, Gujarat Fluorochemicals, GE Shipping, GSFC, Happiest Mind Technologies, HT Media, Kitex Garmets, Kotak Bank, Karnataka Bank, Larsen & Toubro, Marico, Max Financials, MRPL, Naukri, NIIT, Oberoi Realty, Shriram City Union Finance, Suzlon, Tata Coffee, TCI Express, Thirumalai Chemicals, United Breweries, UTI AMC and Vedanta are some of the companies to announce December quarter results today.

TVS Motor Company: The flagship company of the $8.5-billion TVS Group, acquired a 75 per cent stake in Swiss e-Mobility Group (SEMG) for $100 million (about Rs 752 crore). This was the company’s second acquisition in Switzerland in the e-mobility space during the current fiscal, after buying 80 per cent in EGO Movement for $17.9 million in September 2021. The company plans to launch SEMG brands - Cilo, Simpel, Allegro, and Zenith - in India by the end of 2022. READ MORE

RBL Bank: The private sector lender reported a 6 per cent YoY increase in net profit at Rs 156.10 crore for the October–December quarter (Q3FY22), aided by lower provisions and healthy growth in net interest income (NII). Net profit in the reporting quarter beat street estimates as analysts at Bloomberg had estimated a net profit of Rs 75.7 crore. Provisions of the lender fell 30 per cent on a YoY basis to Rs 423.88 crore in the Q3FY22. READ MORE

Telecom: In a major relief to telecom operators, the Telecom Standards Development Society of India (TSDI), backed by the government, informed the Telecom Enginneering Centre (TEC) under the DoT on January 25 not to proceed with the process of adopting 5Gi as a national standard. The TSDI has also informed the International Telecommunications Union (ITU) that it will follow the global 5G standards. READ MORE

Bharti Airtel: The telecom major informed BSE, that its subsidiary Airtel Africa has been inducted into the London Stock Exchange's (LSE) FTSE 100 index. Airtel Africa listed on LSE in June 2019 and had a market capitalisation of $ 7.5 billion as of January 26.

Indus Towers: The telecom infrastructure company posted near about 16 per cent YoY rise in consolidated profit at Rs 1,570.8 crore for December quarter. Revenue grew marginally to Rs 6,927 crore from Rs 6,736 crore in the corresponding period of 2020-21.

Fino Payments Bank: The company’s Q3FY22 net profit more than doubled to Rs 14.10 crore as against Rs 6.52 crore in Q3FY21. Total income grew 20.3 per cent YoY to Rs 275.17 crore from Rs 228.65 crore in the same period.

Future Enterprises: The company has agreed to sell a 25 per cent stake in its general insurance joint venture to its Dutch partner for Rs 1,252.96 crore, in cash, and an additional consideration linked to the date of the closing of the transaction. READ MORE

Future Retail: The Supreme Court will hear Future Retail’s plea against lenders on January 31. The Kishore Biyani-led company had filed a petition, requesting the Supreme Court to pass an order to refrain its lenders from declaring it as a non-performing asset (NPA) if it does not pay dues of Rs 3,494 crore by January 29. READ MORE

LIC Housing Finance: The company’s net profit rose 6 per cent YoY to Rs 767.33 crore in the third quarter. The mortgage finance company’s net interest income (NII) was up 14 per cent at Rs 1,455 crore in Q3FY22 as against Rs 1,281 crore in the year-ago quarter. READ MORE

Punjab National Bank (PNB): The state-run bank reported a two-fold jump in standalone net profit at Rs 1,126.78 crore for the third quarter ended December, as bad loans marginally declined. Total income, however, during October-December 2021 declined to Rs 22,026.02 crore as against Rs 23,298.53 crore a year ago. READ MORE

Colgate-Palmolive India: The FMCG company reported a marginal 1.6 per cent YoY rise in its net profit to Rs 252.33 crore for the third quarter ended December 2021. Revenue rose 3.84 per cent to Rs 1,271.29 crore from Rs 1,224.21 crore in the year-ago period.