Stocks to Watch: Bharti Airtel, Tata Steel, Axis Bank, L&T, Zomato, Castrol

Stocks to Watch today: Bharti Airtel's (Airtel's) consolidated net profit jumped 89% year-on-year (YoY) to Rs 2,145 crore in the second quarter (Q2) of 2022-23, led by strong revenue growth

The Sensex and Nifty indices are likely to open firmly higher Tuesday as indicated by SGX Nifty futures. At 07:30 am, the SGX Nifty quoted at 18,150, indicating an opening gain of around 100 points on the Nifty index.

That said, here are some stocks to watch out in trade today: 

Q2 earnings: Sun Pharma, Adani Ports and Special Economic Zone, Tech Mahindra, UPL, Punjab National Bank, FSN E-Commerce Ventures (Nykaa), Karnataka Bank, LIC Housing Finance, Chambal Fertilisers & Chemicals, Cholamandalam Investment and Finance Company, CMS Info Systems will release their results today. 
 

Axis Bank: Private investment firm Bain Capital is likely to sell a portion of its stake in Axis Bank on Tuesday through a block deal, according to media reports. Reports suggested and were conformed by some industry sources that Bain Capital will dilute a 1.24 per cent stake in the lender worth Rs 3,350 crore. Read here

Bharti Airtel: Airtel’s consolidated net profit jumped 89.1 per cent year-on-year (YoY) to Rs 2,145 crore in the second quarter (Q2) of 2022-23, led by strong revenue growth and 4G customer additions, the company said on Monday. Read more

L&T: Engineering major Larsen & Toubro (L&T) on Monday reported a 22.5 per cent growth in consolidated net profit to Rs 2,229 crore for the quarter ended September 30, 2022 (Q2). Sequentially, the net profit was up nearly 31 per cent in Q2. Read here

Tata Steel: reported a consolidated net profit at Rs 1,514.42 crore in July to September quarter (Q2FY23), down by 87.3 per cent, on the back of declining margins. In the year-ago period, net profit was at Rs 11,918.11 crore. Revenues from operations at Rs 59,877.52 crore was marginally down from Rs 60,387.13 crore in the year-ago period. Read more

Zomato: The company has liquidated its Doha-based Joint venture Zomato Media WLL. 

Castrol India: The company reported flat growth in its PAT at Rs 187 crore, while the revenues rose 4 per cent to Rs 1,121 crore in Q2FY23.

Glenmark Pharmaceuticals: Glenmark Pharmaceuticals Inc (USA) launched Fingolimod capsules, 0.5 mg, the generic version of Gilenya1 Capsules, 0.5 mg, of Novartis Pharmaceuticals Corporation. 

GHCL: The company posted a 212 per cent YoY growth in its net profit to Rs 289 crore as compared to Rs 93 crore a year ago. The standalone revenue was up 73 per cent to Rs 1,389 crore and was aided by doubling of its inorganic chemicals business, the revenue for which grew by 98 per cent on year to Rs 1,130 crore. EBITDA was up 159 per cent on year to Rs 442 crore.

Equitas Small Finance Bank: The small finance bank recorded profit at Rs 116 crore for the quarter ended September FY23, an increase of 183 per cent YoY. Net interest income for Q2FY23 at Rs 610 crore increased by 26 per cent YoY.

Timken India: The company has recorded a 23 per cent year-on-year growth in profit at Rs 97.6 crore for the quarter ended September FY23, supported partly by other income and top line. Revenue from operations grew by 25 per cent YoY to Rs 695.4 crore for the quarter.

Data Patterns: Data Patterns reported a growth of 63 per cent in PAT to Rs 21 crore aided by the decline in operating costs which resulted in a 47 per cent in the company’s EBITDA. The total revenue grew 51 per cent to Rs 90 crore. The company has Rs 884 crore worth of orders in hand.

Cupid: The company has received a purchase order from United Nations Population Fund (UNFPA) for supply of Male Condoms and water Based Lubricants worth Rs 3.7 crore.