 "Stocks to watch: RIL, Infosys, HUL, Ultratech Cement, Union Bank, L&T, DLF")
Stocks to watch on July 21, 2023: A gap-down start is likely for domestic markets, amid subdued global cues.
At 7:20 am, the Gift Nifty declined over 100 points to quote around 19,864 levels.
Overnight, the US markets saw a mixed session as Dow Jones emerged as the outlier of the three major averages to gain 0.4 per cent. On the flipside, NASDAQ Composite and the S&P 500 indices declined up to 2 per cent.
Asia-Pacific markets, on the other hand, largely fell in early deals. Nikkei 225, Topix, Kospi, and S&P 200 indices skid up to 1 per cent.
Meanwhile, back home, here are the top stocks to watch in Friday's trade:
Results today: Reliance Industries, Ultratech Cement, JSW Steel, HDFC Life, Hindustan Zinc, DLF, Vedanta, One97 Communications, Ashok Leyland, Federal Bank, among others will report the April-June quarter results for fiscal year 2023-24 (Q1FY24).
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Hindustan Unilever: The FMCG giant registered a 7.3 per cent year-on-year (YoY) increase in consolidated net profit in Q1FY24, in line with Street estimates. Revenue, too, saw an increase of 6 per cent YoY to Rs 15,496 crore. READ MORE
Infosys: The IT major saw 1.3 per cent sequential growth in revenues in the June quarter due to slowdown in deal ramp-ups. Net profit, meanwhile, declined 3 per cent quarter-on-quarter (QoQ) to Rs Rs 5,945 crore in Q1FY24. The company, further, lowered FY24 revenue growth guidance to 1-3.5 per cent in constant currency terms. READ MORE
Larsen & Toubro: The company said that the board will meet next week on July 25 to mull buyback of equity shares and special dividend for FY24. The board is also scheduled to meet to approve financial results for the June quarter. READ MORE
Union Bank of India: The public sector lender's net profit more than doubled YoY to Rs 3,236 crore in Q1FY24, amid rise in net interest income (NII), non-interest income, and a fall in provisions for bad loans. NII, meanwhile, expanded 16.6 per cent to Rs 8,840 crore in Q1FY24.
Coforge: The mid-cap IT services company saw a 10 per cent rise in net profit to Rs 165 crore in Q1FY24. The company's revenue in constant currency terms, meanwhile, increased 18 per cent to Rs 2,221 crore in the June quarter.
Dalmia Bharat: The company reported a 29.6 per cent decline in its profit after tax (PAT) for Q1FY24, on the back of higher expenses. Revenue from operations for the quarter under review rose 9.8 per cent to Rs 3624 crore.
PVR-Inox: The cinema exhibitor said that they are planning to add two more superplexes this year as part of plans to expand its large format offering. Superplexes or cinema halls with 10 or more screens offer a range of formats and experiences under one roof in mega malls with large floor areas.
United Spirits: The company reported a 83 per cent YoY jump in consolidated net profit of Rs 477 crore for Q1FY24. Total income, however, declined 23 per cent YoY to Rs 5,830 crore in the June quarter.
South Indian Bank: The Thrissur-based bank posted a 75 per cent YoY rise in net profit to Rs 202.35 crore in Q1FY24. NII, meanwhile, grew 34 per cent YoY to Rs 808 crore in the June quarter. Gross non performing asset, too, came down to 5.13 per cent from 5.87 per cent YoY.
IndiaMart: The company reported a 78 per cent YoY rise in its consolidated net profit to Rs 83 crore in Q1FY24. Revenue from operations during the same period rose 26 per cent to Rs 282 crore.
Stocks in F&O ban: Balrampur Chini, Delta Corporation, Indiabulls Housing Finance, L&T Finance Holdings, Manappuram Finance, Punjab National Bank, and RBL Bank were banned in the F&O ban period on Friday, July 21.
Stocks in F&O ban: Balrampur Chini, Delta Corporation, Indiabulls Housing Finance, L&T Finance Holdings, Manappuram Finance, Punjab National Bank, and RBL Bank were banned in the F&O ban period on Friday, July 21.