Stocks to Watch: Tata Steel, Paytm, Go Fashion, BoB, Lupin, IndiGo, PSBs

Castrol, Indian Bank, Nalco, PolicyBazaar, Tarsons Products, Tube Investments of India, TVS Motor and Union Bank of India are some of the prominent companies to announce result today.

The key benchmark indices are likely to start on a tepid note owing to high crude oil prices and mixed global cues. As of 08:00 AM, the SGX Nifty futures quoted at 17,445 as against the NSE Nifty spot close of 17,516 on Friday. Meanwhile, here are the top stocks in focus for trade on Monday.

Earnings Watch: Castrol India, Compuage Infocom, Fortis Malar Hospitals, GlaxoSmithKline Pharma, Indian Bank, Indo Count Industries, KPR Mill, Minda Industries, National Aluminium (Nalco), Nucleus Software, Paisalo Digital, The Phoenix Mills, PB Fintech (PolicyBazaar), Precision Wires, Sharon Bio Medicine, S H Kelkar and Company, Simplex Realty, Talbros Engineering, Tarsons Products, TCPL Packaging, Texmaco Infra, Texmaco Rail, Tube Investments of India, Transformers and Rectifiers, TVS Motor Company and Union Bank of India are some of the companies to announce December quarter results today.

Tata Steel: The company reported a consolidated profit after tax of Rs 9,598 crore in the December quarter, up 139 per cent from the corresponding period last year. Turnover rose 44.9 per cent to Rs 60,783 crore on a YoY basis. READ MORE

Bharti Airtel: The telecom operator’s Africa arm reported a 54.4 per cent YoY increase in net to $180 million for the December 2021 quarter. The underlying revenue of increased by 17.9 per cent YoY $1.22 billion. It was up 20 per cent on a constant currency basis.

Meanwhile, the parent company Bharti Airtel plans to spend about Rs 1.17 lakh crore through business transactions with its subsidiaries like Indus Towers, Nxtra and Bharti Hexacom over the next five years. READ MORE

Paytm: The Fintech major saw its revenue increase 89 per cent YoY to Rs 1,456 crore in the December quarter, while net loss widened 45 per cent YoY to Rs 778 crore. However, the company said that its contribution profit improved to 31.2 per cent of revenue in Q3 of FY22 from 8.9 per cent in Q3 of FY21. READ MORE

PSBs: Large public sector banks (PSBs) have revised upwards their credit growth target for the current financial year. This is following revival of demand from the corporate sector and small and medium enterprises (SMEs), even as a nascent economic recovery is taking shape.

Credit growth of scheduled commercial banks had accelerated to 9.2 per cent YoY by the end of December 2021 after breaching the 7 per cent-mark in November, for the first time since April 2020. READ MORE

NBFCs: Select NBFCs (Non-banking Financial Companies) are in exploratory talks with the Reserve Bank of India (RBI) over the possibility of allowing the former to issue credit cards on a standalone basis in a first-of-its-kind move. So far, NBFCs can only issue co-branded credit cards with banks. READ MORE

SBI: The country’s largest public sector bank has lined up six non-performing assets (NPAs) for sale to asset reconstruction companies (ARCs) to recover dues of nearly Rs 406 crore, according to a PTI report. The interested ARCs/ banks/ NBFCs/ FIs can conduct due diligence of these assets with immediate effect, the report added.

Bank of Baroda (BoB): The public sector lender’s net profit doubled to Rs 2,197 crore in the October -December quarter (Q3FY22), aided by higher net interest income and lower provisions. Net interest income jumped 14.4 per cent YoY to Rs 8,552 crore, aided by margins. READ MORE

Go Fashion: The company reported 33.4 per cent YoY jump in Q3FY22 net at Rs 23.69 crore when compared with Rs 17.76 crore in Q3FY21. Total income rose 40.2 per cent YoY to Rs 145.22 crore.

Adani Green Energy: Three arms of the company have collectively raised Rs 612.30 crore through their maiden domestic bond issue on private placement basis for debt refinancing.  The company said the proceeds from issue will be utilised to part-refinance existing rupee term loan bearing higher interest cost. READ MORE

Godrej Properties: According to a PTI report, the company expects record sales bookings during this quarter, beating the previous high of Rs 2,632 crore, driven by new launches of around 10 housing projects amid strong revival of demand.

Further, the Mumbai-based real estate developer has canceled its plans to invest Rs 700 crore in DB Realty to acquire 10 per cent stake and set up a joint platform amid concerns raised by minority shareholders and other stakeholders. READ MORE

Lupin: The company reported a 24.5 per cent YoY rise in its consolidated net at Rs 545.5 crore for Q3FY22. Sales grew 4.3 per cent YoY to Rs 4,087.5 crore from Rs 3,917.3 crore.

IndiGo: The country’s largest airline swung back into profit after registering seven consecutive quarters of loss. The company posted a profit of Rs 129.79 crore in the December quarter of FY22, primarily driven by higher revenue and yields. Net income soared 89 per cent YoY to Rs 9,294.77 crore. READ MORE

Bank of India (BoI): The PSU bank’s net profit surged 90 per cent YoY to Rs 1,027 crore in Q3FY22 on sharp fall in provisions and contingencies. The bank's NII declined by 8.8 per cent YoY to Rs 3,408 crore as against Rs 3,739 crore in Q3FY21. READ MORE

Reliance: The Mukesh Ambani-led Jio Platforms has picked up a 25 per cent stake in Silicon Valley-based deep tech start-up Two Platforms (TWO) for $15 million around Rs 112 crore. The latter is an artificial reality company which focuses on building interactive and immersive AI experiences. READ MORE

Gulf Oil Lubricants: The company has scheduled its board meeting on February 09 to consider a proposal for buyback of equity shares.

Ujjivan Small Finance Bank: The bank has considerably narrowed its Q3 losses in the quarter ended December 2021. The bank reported a net loss of Rs 33.83 crore for Q3FY22 whereas net loss in Q3FY21 stood at Rs 278.83 crore. Total income grew marginally by 1.6 per cent YoY to Rs 798.69 crore.

IndusInd Bank: The bank has filed for bankruptcy proceedings against Zee Entertainment Enterprises at the Mumbai Bench of the National Company Law Tribunal (NCLT), claiming a default of Rs 83 crore.

Eveready: Battery maker reported 51.4 per cent YoY decline in net at Rs 23.71 crore for the third quarter ended December 31, 2021. Revenue from operations was down 4.2 per cent YoY at Rs 325.88 crore.

Shree Cements: The company posted 23.6 per cent YoY decline in its consolidated net profit at Rs 482.70 crore for Q3FY22. Its revenue from operations was up 2.24 per cent YoY at Rs 3,637.11 crore.

Birla Corporation: The M P Birla group flagship company reported a 59.3 per cent YoY drop in net profit at Rs 60.45 crore in the December quarter as cement demand contracted in key markets. Revenues dipped 3.6 per cent YoY to Rs 1,757 crore. READ MORE

IL&FS: The beleaguered Infrastructure Leasing & Financial Services (IL&FS) said it completed the process of selling its 35 per cent stake in Warora Chandrapur Ballarpur Toll Road Limited (WCBTRL) to majority joint venture partner Vishvaraj Infrastructure Limited (VIL), thereby resolving a debt to the tune of Rs 324 crore from its overall debt of Rs 99,000 crore. READ MORE

Aditya Birla Fashion and Retail (ABFRL): The company plans to set up a platform to foray in the direct-to-consumer (D2C) business. The venture will initially be funded through ABFRL’s internal accruals and at an appropriate time, the firm will look to bring in external capital to accelerate growth, the company said in its release. READ MORE