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Stocks to Watch on Monday, August 14, 2023: The frontline indices are likely to trade on a subdued note on Monday amid wobbly global cues. Further, investors may want to take a cautious stance ahead of the key inflation data later today and a trading holiday on Tuesday on account of India’s Independence Day.
That apart, stocks will also react to a moderation in the index of industrial production (IIP) to a three-month low of 3.7 per cent in June, and quarterly results reported after market hours on Friday.
At 07:15 AM, the GIFT Nifty futures quoted at 19,448 as against the spot Nifty 50 close of 19,428 on Friday.
Meanwhile, these stocks are likely to be in focus on Monday.
Earnings Watch: Astrazeneca Pharma, Brightcom Group, Divi’s Labs, Easy Trip Planners, GMR Airports, Hindustan Copper, Indiabulls Housing Finance, Vodafone Idea, ITC, Kaveri Seed, Meghmani Organics, Rajesh Exports, Wockhardt and SpiceJet are some of the notable companies scheduled to announce June quarter results today.
Adani Ports: Before resigning as auditor of Adani Ports & SEZ, Deloitte had sought an independent external examination of allegations made by American short-seller Hindenburg Research but the company claimed the accusations had no impact on financial statements. READ MORE
ONGC: The companys's Q1 consolidated net profit doubled to Rs 17,382.97 crore for the quarter ended June 2023 from a year ago period. Revenue, however, was down 10 per cent year-on-year (YoY) at Rs 1,63,824 crore.
HDFC Bank: The bank’s Managing Director and CEO Sashidhar Jagdishan on Friday flagged funding as a risk for the lender,
after the completion of the $40-billion amalgamation with HDFC. On the other hand, Chairman Atanu Chakraborty, expressed confidence that the private sector lender would benefit from the low cost of funds that a bank traditionally enjoys. READ MORE
HDFC Bank: The bank’s Managing Director and CEO Sashidhar Jagdishan on Friday flagged funding as a risk for the lender,
after the completion of the $40-billion amalgamation with HDFC. On the other hand, Chairman Atanu Chakraborty, expressed confidence that the private sector lender would benefit from the low cost of funds that a bank traditionally enjoys. READ MORE
NMDC: The companys's Q1 consolidated net profit was up 12 per cent YoY at Rs 1,649.91 for the quarter ended June 2023, while total income grew by 13.2 per cent YoY to Rs 5,394.66 crore.
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Nalco: The companys's Q1 consolidated net profit plunged 40 per cent to Rs 333.80 crore for the quarter ended June 2023 when compared with Rs 558 crore in the year ago period. Revenue declined 16 per cent YoY to Rs 3,178.40 crore.
Jindal Steel: The company’s Q1 net profit slipped 14.4 per cent to Rs 1,686.94, crore for the quarter ended June 2023 when compared with Rs 1,970.13 crore in the corresponding quarter a year ago. Revenue from operations dipped 3.5 per cent YoY to Rs 12,588.34 crore.
Biocon: The company’s subsidiary Biocon Biologics (BBL), which doubled its revenues year-on-year (YoY) during in Q1FY24 - driven by acquisition of the biosimilars business from US giant Viatris - is eyeing to integrate the entire acquired business ahead of plan.
Patanjali Foods: The company’s Q1 net profit plunged by 63.6 per cent to Rs 87.75 crore for the quarter ended June 2023 when compared with Rs 241 crore in the corresponding quarter a year ago. Revenue from operations, however, increased 7.7 per cent YoY to Rs 7,767 crore.
Nykaa: The company’s Q1 consolidated net profit rose by 8 per cent to Rs 5.4 crore for the quarter ended June 2023 when compared with Rs 5 crore in the corresponding quarter a year ago. Revenue from operations were up 24 per cent YoY at Rs 1,421.80 crore.
Raymond: The company’s Q1 net consolidated net profit grew 13-fold to Rs 1,066.74 crore, helped by gains from sales of its consumer business to Godrej Consumer Product, for the quarter ended June 2023. Last year in the same quarter, the company reported a net profit of Rs 81.93 crore. Revenue from operations were up 2.5 per cent YoY to Rs 1,771.46 crore.
Glenmark Pharma: The company’s Q1 net profit dropped 22 per cent to Rs 149.90 crore for the quarter ended June 2023 when compared with Rs 192.50 crore in the corresponding quarter a year ago. Revenue from operations rose by 22.5 per cent YoY to Rs 3,401.60 crore.
RCF: The company's Q1 consolidated net profit plunged 77.4 per cent to Rs 67.79 crore for the quarter ended June 2023 when compared with Rs 299.60 crore in the corresponding quarter a year ago. Revenue from operations were down 18.4 per cent YoY at Rs 4,042.95 crore.
IRFC: The company's Q1 consolidated net profit dipped by 6.3 per cent to Rs 1,556.57 crore for the quarter ended June 2023 when compared with Rs 1,661.58 crore in the corresponding quarter a year ago. Revenue from operations declined 18.7 per cent YoY to Rs 6,679.17 crore.
Sterling and Wilson Renewable Energy: The company has won a Rs 1,130 crore order from Gujarat Industries Power for its proposed 600 MWac solar project.
NBCC: The company has secured work orders worth Rs 279.31 crore for four projects.
NLC India: The company has emerged successful bidder for North Dhadu coal mine in Jharkhand.
Redington: The company's MD Rajiv Srivastava resigned with immediate effect citing personal reasons.
Bank of Baroda, Canara Bank, and Bank of Maharashtra (BoM): Shares of PSU Banks will remain in focus after three state-run banks hiked their respective marginal cost of fund-based lending rate (MCLR) by up to 10 basis points (bps) across all loan tenures.
Stocks in F&O ban: Balrampur Chini, Chambal Fertilisers, Delta Corp, Granules India, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance and Zee Entertainment are the nine stocks in F&O ban period on Monday.
Primary Market Update
TVS Supply Chain Solutions: The IPO was fully subscribed at the end of Day 2 on Friday, with retail portion receiving bids up to 3.6 times. The issue closes today.
