Stocks to watch: HDFC, Sun Pharma, Dr Reddy’s, STFC, TVS Motor, SpiceJet, First Quarter Earnings, Yes Bank, Cipla


Stocks to watch today: Indian stock markets should start on a positive note amid favorable global signals. As of 07:20, the SGX Nifty Futures was reading 17,144 levels, indicating a gap of around 215 points on the Nifty50.

Overall, US markets were euphoric on Thursday amid strong corporate earnings from Apple and Amazon as well as hopes of dovish rate hikes by the US Federal Reserve. All major Wall Street indices closed above 1%.

Major Asia-Pacific markets followed suit on Friday morning and rose slightly in trading. While the Japanese Nikkei 225 rose 0.2%, the South Korean Kospi gained 0.6%.

In the meantime, back home, here is a list of actions that could see the light of day on Friday:

Results today: HDFC, Sun Pharmaceutical, NTPC, HDFC Life Insurance, Indian Oil Corporation, DLF, Cipla, Cholamandalam Investment, Torrent Pharmaceuticals, Piramal Enterprises, Ashok Leyland, YES Bank, GMR Infrastructure, Metro Brands, Grindwell Norton and Route Mobile will announce their June quarter results (Q1FY23).

At Dr. Reddy: The pharmaceutical giant reported a 108% year-on-year (YoY) increase in consolidated net profit to Rs 1,187.6 crore in Q1FY23 from Rs 570.8 crore a year ago due to a substantial increase in income. The company’s revenue rose 6% to Rs 5,215.4 crore from Rs 4,919.4 crore in the first quarter of FY22. READ MORE

GNP: The state-owned bank recorded a 70% year-on-year decline in standalone net profit to Rs 308.44 crore in Q1FY23 from Rs 1,023.46 crore, due to higher provisioning for bad debts and lower interest income. Total revenue for the first quarter of the current financial year fell to Rs 21,294 crore from Rs 22,515 crore a year ago. READ MORE

Vedanta: The company recorded a 6% year-on-year increase in net profit to Rs 5,592 crore. Meanwhile, the company’s consolidated revenue rose 36% year-on-year to Rs 38,251 crore. Despite inflationary cost pressures, the company recorded the best quarterly Ebitda ever at Rs 10,741 crore in Q1FY23. The company’s gross debt also increased by Rs 8,031 crore in Q1FY23. READ MORE

SBI Cards: The company’s net profit jumped 106% year-on-year to Rs627 crore in the first quarter of FY23, from Rs305 crore in the first quarter of FY22, on healthy revenue growth interest and lower impairment losses. Interest income, meanwhile, rose 20% year-on-year to Rs 1,387 crore in the first quarter of FY23 from Rs 1,153 crore. While retail spending rose 68% year-on-year to Rs 45,488 crore, corporate spending jumped 130% year-on-year to Rs 14,183 crore. READ MORE

M&M Finance: Due to lower expenses and higher income from business operations, the company reported a consolidated net profit of Rs 240 crore in Q1FY23 compared to a net loss of Rs 1,573.40 crore in Q1FY22. The company’s total revenue rose to Rs 2,914 crore from Rs 2,567 crore a year ago. READ MORE

TV engine: The Chennai-based auto major recorded a consolidated net profit of Rs 305.37 crore in Q1FY23 compared to a loss of Rs 10.55 crore in Q1FY22. The company’s operating revenue rose 56% year-on-year to Rs 7,315.7 crore from Rs 4,689.34 crore a year ago. On a stand-alone basis, it reported profit after tax (PAT) of Rs 321 crore compared to Rs 53 crore in Q1FY22. READ MORE

Focus on telecom stocks: After 16 rounds of bidding for the 5G spectrum auction, the government scooped up bids worth Rs 1,49,623 crore on the third day. According to reports, high interest continued to be seen for spectrum in the 1800 MHz band in the UP East circle, where Jio and Airtel were involved in intense auctions on Thursday. READ MORE

Nestle India: Major FMCG is set to acquire the pet food business of Purina Petcare India for Rs 123.5 crore. Nestle SA owns 100% of Purina Petcare India and 62.76% of Nestle India. The move will give Nestlé India access to the fast-growing pet food business, which grew at a compound annual growth rate (CAGR) of 39.4% during the period 2018-2021.

Shriram Transportation: The company quadrupled its net profit to Rs 965.27 crore in Q1FY23 from Rs 169.94 crore in Q1FY22 due to heavy provisioning last year due to the second wave of covid-19. The company’s total revenue for the quarter under review increased by 10.7% to Rs 5,149.26 crore from Rs 4,651.5 crore a year ago.

Spice spray: The airline operator reported that a flight bound for Kandla in Gujarat aborted its take-off safely from the runway at Mumbai airport on Thursday as the warning alert came on. This is at least the ninth incident of a technical malfunction on a SpiceJet aircraft in the past 40 days. Management assured that all precautions had been taken and that all passengers and crew had been disembarked safely.


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